We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Advice please for a first time buyer - offset mortgage
sicandar
Posts: 81 Forumite
Can anyone please give me some advice I am a first time buyer about to get a large mortgage -
now I want an offset mortgage without any penalties because my parents may sell their house and stay with us in a year (but they want to wait a short while before they sell their house to see if there will be enough space in my new house once I get there and make sure there is no problems with it etc)
unfortunately clydesdale bank's new offset has redemption penalties so it would not suit
looking at looking at previous threads on here the best option seems to be Yorkshire banks offset with introductory rate 5.19% until 09/07 then goes to BoE rate + 0.75% (by when i will know if parents are selling and may well have paid off 3/4 of the mortgage) -
the other one I have found myself which looks even better is newcastle BS who offer 4.65% for 6 months then BoE + 0.5% - but I can not find anything about it on these threads - so does anyone have experience of this one or newcastle BS in general?
or can anyone advise on something else?
any advice much appreciated!
now I want an offset mortgage without any penalties because my parents may sell their house and stay with us in a year (but they want to wait a short while before they sell their house to see if there will be enough space in my new house once I get there and make sure there is no problems with it etc)
unfortunately clydesdale bank's new offset has redemption penalties so it would not suit
looking at looking at previous threads on here the best option seems to be Yorkshire banks offset with introductory rate 5.19% until 09/07 then goes to BoE rate + 0.75% (by when i will know if parents are selling and may well have paid off 3/4 of the mortgage) -
the other one I have found myself which looks even better is newcastle BS who offer 4.65% for 6 months then BoE + 0.5% - but I can not find anything about it on these threads - so does anyone have experience of this one or newcastle BS in general?
or can anyone advise on something else?
any advice much appreciated!
Treat everyday as your last one on earth, and one day you will be right!
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards