First Time Buyer - What offer to put in?

Skyhigh

Thanks for the info guys!

3-4 months would be pretty good to be honest - since it would give us more time to put money aside as a buffer and to help kit out the house (rather than dipping into specific savings).

The area post code is WF9, near WF9 2RF - a 'deprived' area.
(meaning £150k start on stamp duty)
[Thats up North, in West Yorkshire - Wakefield area]

The house is better as:
it has a larger rear garden
it has a much better aspect to the rear - looking out onto fields and hills - whereas all the others look out onto houses and are over-looked by the rest of the estate.

I'm trying to do it 'right'*, I've spent months researching mortgages and the market.

I'd be avoiding adding the fee's to the mortgage amount as it seems a little insane to me, similarly we're putting down a 10% deposit to avoid any HLC charges with most lenders.
I think Giraffe money have a great offer, something like a 2.85% fixed rate for two years, which would save us £7k in interest over the 2 year period.
But it smells a bit dodgy to me, their other products aren't amazing - plus theres no way we could get a 25% deposit (£28,800!).

I've been planning to pay off the mortgage as early as possible - helped by the additional work I do designing websites
Although I'm aware of the impact and benefits of paying off a mortgage early, I found that the Skipton interactive calculator helped highlight the impact to my partner:
http://www.skipton.co.uk/mortgages/mortgage_calculators/
[The 'Interactive' calculator at the top]

Plus it helped easily forecast the repayments based on an interest rate rise, etc, etc

* Right = most informed and preferably most 'money saving' way possible.



:!:

Jonbvn

Skyhigh wrote: »

I think Giraffe money have a great offer, something like a 2.85% fixed rate for two years, which would save us £7k in interest over the 2 year period.
:!:

Be very careful with such products. They usually have an extended tie-in period when you will be on their SVR. This means the money you save in the first 2 years, you pay back in the next 2-3 years:eek: