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Which mortgage? Advice please, thanks!
ellie27
Posts: 1,097 Forumite
We do feel rather clueless.
We have had our offer accepted on a house and looking to put in our full mortgage application in the next couple days.
We have no idea!! Its like shut your eyes and pick one as we dont know how we decide. We have a mortgage broker who has done some calculations and presented them to us (other-half is a contractor hence the use of a broker!)
We have been so lucky that our current mortgage is at 0.95% and has been at that for the best part of the 7 years that we have had it! When we applied for that mortgage 7 years ago the variable tracker was the only one the bank would offer us so we had no choice but were glad of it after the first year or so! (We cannot port the mortgage unfortunately)
We will be borrowing £100k, house purchase £300k.
Mortgage provider has offered 1.75% discounted variable rate with Skipton, becoming 4.99% after 2 yrs.
Also some 2,3, 5 yr fixed rates.
How do we know whats right? Other half is inclined not to go for fixed rates. We are not on a strict budget and can afford interest rate rises, tried out the calculators and put in 8% etc.
Any suggestions at all welcome. Thanks!
We have had our offer accepted on a house and looking to put in our full mortgage application in the next couple days.
We have no idea!! Its like shut your eyes and pick one as we dont know how we decide. We have a mortgage broker who has done some calculations and presented them to us (other-half is a contractor hence the use of a broker!)
We have been so lucky that our current mortgage is at 0.95% and has been at that for the best part of the 7 years that we have had it! When we applied for that mortgage 7 years ago the variable tracker was the only one the bank would offer us so we had no choice but were glad of it after the first year or so! (We cannot port the mortgage unfortunately)
We will be borrowing £100k, house purchase £300k.
Mortgage provider has offered 1.75% discounted variable rate with Skipton, becoming 4.99% after 2 yrs.
Also some 2,3, 5 yr fixed rates.
How do we know whats right? Other half is inclined not to go for fixed rates. We are not on a strict budget and can afford interest rate rises, tried out the calculators and put in 8% etc.
Any suggestions at all welcome. Thanks!
0
Comments
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Your broker, who knows your situation ,should be making a recommendation and helping you to decide.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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