1sttime buyer with small morgage

msi

Iam totally confused by morgages. Iam buying a flat valued at 130000. I earn 17000 a year and want a morgage for 30000. I have been looking at a 10 year morgage with a fixed rate for 10 years.
Is this the best idea to put as much money to reduce total morgage and have less in the bank?
Fixed rate for the 10 years..a couple of percent higher interest rate would make less of a difference when u compare the best fixed rate for 3 years and then pay another fee to get the best deal ...fees around 900 pounds?
Whats the best deal available?
Thanks

h34v3ns3nt

Why not just get a personal loan for £30,000 over 10 years?

I assume you have an extra £100,000 somewhere to fund the rest of the purchase?

rdsmortgageman

As your mortgage is relatively small, fluctuation in interest rates will not make much of a difference to your monthly payment. I would suggest something without redemption or arrangement fee (as you are unlikely to recoup the arrangement fee in savings) such as a tracker or SVR.