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50k mortgage advice
thewinkshow
Posts: 333 Forumite
parents are giving me a 50k deposit.im looking at a 100k mortgage.im 22 single.
im after a 50k mortgage.whats my best option?a fixed rate,tracker variable capped????
over 25,30,35,40 years???
or maybe a low rate loan or some other method?any ideas???could i get a secured loan on the property?or not
basically i need it as cheap as possible for now whilst i get on my feet until my wage improves in the coming years.any advice cheers
im after a 50k mortgage.whats my best option?a fixed rate,tracker variable capped????
over 25,30,35,40 years???
or maybe a low rate loan or some other method?any ideas???could i get a secured loan on the property?or not
basically i need it as cheap as possible for now whilst i get on my feet until my wage improves in the coming years.any advice cheers
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Comments
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How much are you planning to budget for a monthly payment?
Sit down and work out a budget and good mortgage adviser could work from there.Money, money, money, must be funny....in a rich mans world.
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How much are you planning to budget for a monthly payment?
Sit down and work out a budget and good mortgage adviser could work from there.
That is an ideal starting point
With that as a foundation the adviser would be able to look at what options could fit the bill
You don't state what your income is or what otehr debts(if any) you have in the background -these will also be needed to establish the right deals for you
Also, do you have a clean credit histroy?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
im on £14000 PA at the minute but will be going up in next few years.i have no debts or outgoings.0
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The mortgage should be fine - it will just be a case of finding one that fits in with what you want to budget forI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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ive worked out that a mortgage over 35 years plus bills will roughly come to half my wage each month,im a single guy do u think its unrealistic to live off half your wage?say about £500 per month?or would i be eating tins of beans everynight?0
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