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
help please - which mortgage
MikeMillions
Posts: 7 Forumite
Hi All,
My current fixed rate mortgage is up on 2nd July and I co-own the property witha friend who will be leaving at the end of the term and selling his equity to me. I have a mortgage product in mind but not sure if there may be something more competative around so would like advice....Apologies if I forget any info/numbers but details stack up like this:
Current Rate: 4.54% interest only (2 year fixed)
LTV: 88%
Salary: £50K
Value of Prop:£ 230,000
Mortgage Req: £202,599 (this includes orginal mortage of around £191K +
£10K to pay to my friend for his Equity)
The HSBC Rate matcher looked very attractive as they informed me that would extend the LTV rate from 80% to 90% if you were an existing HSBC customer but then informed me this was not the case and that they can only do 80%.
I am interested in both repayment and interest only mortgages and am interested to see how much monthly payments would be as on the product i am most likely to go with (I think halifax 2 year fixed @ 5.99%) came out at £1018 interest only and £1300 repayment?
Any ideas or help ASAP would be most apreciated as I need to move fairly quick.
many thanks in advance
My current fixed rate mortgage is up on 2nd July and I co-own the property witha friend who will be leaving at the end of the term and selling his equity to me. I have a mortgage product in mind but not sure if there may be something more competative around so would like advice....Apologies if I forget any info/numbers but details stack up like this:
Current Rate: 4.54% interest only (2 year fixed)
LTV: 88%
Salary: £50K
Value of Prop:£ 230,000
Mortgage Req: £202,599 (this includes orginal mortage of around £191K +
£10K to pay to my friend for his Equity)
The HSBC Rate matcher looked very attractive as they informed me that would extend the LTV rate from 80% to 90% if you were an existing HSBC customer but then informed me this was not the case and that they can only do 80%.
I am interested in both repayment and interest only mortgages and am interested to see how much monthly payments would be as on the product i am most likely to go with (I think halifax 2 year fixed @ 5.99%) came out at £1018 interest only and £1300 repayment?
Any ideas or help ASAP would be most apreciated as I need to move fairly quick.
many thanks in advance
0
Comments
-
They probably said 80% as thats the max LTV they'll do interest only for (but only if you have a repayment vehicle in place)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards