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Barclays Family Springboard on a new build
Comments
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I suspect the maths are much better on a 75% LTV H2B than the springboard rate.
In the short term yes, but overall (assuming interest stayed at the fixed rate as a pure example) it worked out cheaper over the length of the term.
The figures I've got for the 10% equity loan are cheaper than the springboard, but then there is 10% equity which we aim to pay back within the first 5 years so avoid any interest.0 -
do you know the interest rate from year 6?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Not yet as we have only had rough estimates, we've handed in all the documents we've been asked of now so should get the formal quote through next week (having to get our PIF redone as the original was 20% equity loan).
We just want to get the equity loan paid off ASAP so we don't have it hanging over our heads.0 -
I think you should check the interest rate on the equity loan before you start worrying about it too much.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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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