Current mortgage the details needed:
£75,000
Outstanding amount:
£75,000
Outstanding term(full and fixed period):
18 years, 9 months
Rate:
4.29
Payment:
£490 a month (mortgage), rent and service charge £450
ERC:
£3,500
Also how long have you owned the property and was it newbuild on purchase:
Newbuild, bought in Sept 2014
Also do you have enough savings to cover stamp duty and legals:
Stamp duty paid in full at time of purchase, I have enough for legals but not ERC at the moment; but perhaps could beg, borrow or steal if it's worth moving now.
Are you considering a partial staircase:
Yes, would like to go to 100% but if not possible happy to go up to what I have been quoted on; between 75 - 90% with the potential to go to 100% depending on whether the housing association allows 100% ownership (they do)!
Santander based on initial affordability - 242k. I don't have the rates, term is 25 years (will find out on Monday)
Leeds based on initial affordability (without details, they will do that during appointment) is £204,000. I don't have the rates or term that was based on.
I hope that is clearer!
Last edited by Jadakiss; 11-08-2018 at 7:34 PM.