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Which Mortgage do I choose
Randy
Posts: 210 Forumite
Hi, any advice on which mortgage I should go for 
.. here`s some background to help.
I already have a Mortgage (Halifax)
I owe £59,000 on my current Mortgage
I earn £18000 Before Tax
I have a seperate Loan of £220/month
I am single/Live Alone
I have about 21 years remaining on my current mortgage
Thanks in Advance
.. here`s some background to help.I already have a Mortgage (Halifax)
I owe £59,000 on my current Mortgage
I earn £18000 Before Tax
I have a seperate Loan of £220/month
I am single/Live Alone
I have about 21 years remaining on my current mortgage
Thanks in Advance
0
Comments
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What is the value of your property?
What kind of things do you want from your mortgage? What kind of mortgage do you have with Halifax currently - do you want the same thing?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 -
brokers get intermediary only deals with Halifax, so even if you think you'd not rather the hassle of looking in the whole market / or you've left it too late before your existing deal runs out speak to a non fee charging broker anyway.0
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What is the value of your property?
What kind of things do you want from your mortgage? What kind of mortgage do you have with Halifax currently - do you want the same thing?
I `m on an interest only at the moment.So need a repayment of some kind. Was hoping for somethin that i`m not tied in too long with a heavy get-out fee.
My property is worth about 90-95,000.0 -
No expert, but what about a lifetime tracker; Woolwich offer one and so do C & G (at a slightly more competitive rate but only available through brokers, or at least that was the case last month!) I know these both have no fees, free valuations and legals. No early redemption charges either. As alexandlee advises have a chat with a fees free broker.
0 -
Are you moving house or simply wanting to remortgage or switch products?0
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You will need to reduce your income by £2640 to allow for the current loan you have.
That leaves you with £15360 to get a mortgage of £59k - which being under four times your income should be ok to get.
Needing a loan of £59k against a value of £90k should also be straightforward, and it will mean you having plenty of options to choose from.
DO you want a fixed rate mortgage, is your budget quite tight each month?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
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