getting a mortgage

samuela66

Hiya,

I posted a week ago about seeing a property that was priced at £97,500 and asked what to put an offer in at some said as low as 80, but don't think I can, anyways I am going for 2nd viewing today, I have 50,000 to put down and have been looking at mortgages I want a fixed for the term one for 20 years, anyone got any ideas, i've browsed around saw one with manchester???? something or other but can't find it now.....any help out there please

Doozergirl

You need to see a fee free, whole of market mortgage broker. They have access to the entire market place and have special software that will bring up the best deals for your circumstances and what you want.

Martin often talks of london & country http://www.lcplc.co.uk/

Personal recommendation is obviously good too.

You can find IFA's that deal in mortgages at www.unbiased.co.uk

Doozergirl

Also, do you you really need 20 years to pay off a mortgage that small? Fair enough and no offence intended if you have a small income but even on an average income you could overpay and have it cleared within 10 years

samuela66

Doozergirl wrote: »

Also, do you you really need 20 years to pay off a mortgage that small? Fair enough and no offence intended if you have a small income but even on an average income you could overpay and have it cleared within 10 years

Hi Doozer, didnt think I could get a 10 year mortgage:p

Doozergirl

You can set the length of a mortgage to what you want. I'm not sure what the shortest term is - I'm not that lucky (or old)! But when we have remortgaged in the past we took the term of the mortgage down to match the previous one, iyswim.

You can also take out a 20 year mortgage but get one that allows you to overpay so you have the flexibility to pay the minimum one month but a lot more the next, if that suits you. So you end up paying it off early.

It's a really good idea that you speak to a broker - they know all about these things and will find you something perfect.