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Please someone give advice?
taylor86
Posts: 135 Forumite
We are currently renting after moving out of our too small home. We were about to put it up for rent when we received an early inheritance.
We didn't really want to rent out the property as it was recently renovated but we couldn't sell it for enough of a deposit to buy another home. Now we have the extra money we are considering selling the property for less, cut our losses and buy somewhere we really want while house prices are lower.
The old property is at the start of a 2 year fix with Halifax at 2.89% we can port this but now we have a larger deposit might we be better off paying the redemption fee and getting a better fix? LTV on new house would be about 75%
Any advice?
We didn't really want to rent out the property as it was recently renovated but we couldn't sell it for enough of a deposit to buy another home. Now we have the extra money we are considering selling the property for less, cut our losses and buy somewhere we really want while house prices are lower.
The old property is at the start of a 2 year fix with Halifax at 2.89% we can port this but now we have a larger deposit might we be better off paying the redemption fee and getting a better fix? LTV on new house would be about 75%
Any advice?
0
Comments
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Depends on the mortgage size.
This will be a matter for a mortgage broker to advise you on.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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