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Fixed 2 year mortgage offer, but planning on going to university
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Mortgage_Mark wrote: »Don't bank on being able to do a hassle-free product transfer in two years - you will probably have to prove affordability in the same way as for a new mortgage post-MMR, depending on lender.
But presumably being moved onto SVR would still be simple? As the mortgage has been granted for 25years (or however long) at the outset.2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shadingEverything will be alright in the end so, if it’s not yet alright, it means it’s not yet the endMFW #4 OPs: 2018 £866.89, 2019 £1322.33, 2020 £1337.07
2021 £1250.00, 2022 £1500.00, 2023 £1500, 2024 £13502025 target = £1200, YTD £9190
Quidquid Latine dictum sit altum videtur0 -
Yes, the mortgage would revert to SVR automatically (assuming that is what's on the mortgage offer at outset, some older Woolwich mortgages reverted to a base rate tracker which is presently cheaper than anything on the market currently!).I am a mortgage adviser.You 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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