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House Purchase

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Comments

  • Marvel1
    Marvel1 Posts: 7,512 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    bruich76 wrote: »
    They were originally selling these houses for £309.995 a pop but then increased them to £319,995.



    Guessing they were selling well in increase.
  • smudge2013
    smudge2013 Posts: 62 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Rather than using your savings to pay off the student debt, could you not put that money towards your deposit? That way you reduce the money you need to borrow from your bank (which keeps them happy), and of course you save yourself money in terms of mortgage interest.
  • bruich76
    bruich76 Posts: 92 Forumite
    not really no. I appreciate long term it might be better, i.e. paying less interest, however, the monthly saving of getting less mortgage is only around 20 quid as opposed to 175 per month in paying off the student loans
  • bruich76
    bruich76 Posts: 92 Forumite
    we will be re-mortgaging at some point anyway.
  • smudge2013
    smudge2013 Posts: 62 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Have you tried other lenders? Big deposit is the way forward, let the government wait for their student loan money as long as possible ;-).

    When I got my mortgage my student loan didn't seem to flag up any concerns. Thankfully I've just finished paying it off through PAYE.
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