Mortgage Advice

Xenon

Looking for some advice - aren't we all !!
Dipping my toes as a 1st time buyer.
Tired of renting.
Looking to buy a 1 bedroom flat in Edinburgh.
Maximum House Price £90,000 - £100,000.
Deposit £50,000
Looking really for 5yr fixed rate deals.
Will be overpaying about £50 - £100 per month.
Maybe pay lump sum after a few years depending on savings accrued.

Any sense in going for a 20yr term rather than 25yr ?
At my level better paying fees or higher monthly rate but no fees?

Any advice welcome as finding it confusing at the moment

ACG

You need to do the sums, but at a £50k mortgage i suspect your better paying a higher rate and lower fees.

25 year term will make the payments less - as to whether that makes sense thats for you and your wallet to decide.

On a side note, its nice to see a post that lists the facts and figures rather than go off on to a tangent about how you like pink cushions or want to buy a new dining table. So on behalf of myself - thanks.