Mortgage Question - How much/Payment
Discussion
paul26982 said:
id put 3% in the calculator, came out at 650 pounds, 5 % was 860 pounds, for someone who has excellent credit and high monthly income, what percentage would you imagine being relistic at getting.
It has little to do with thatYou search around for the best deals on the internets and take it from there.
Fixed/tracker rates are probably safer
paul26982 said:
alliance & leicester was doing 3.18% i think 2 year fixed and after the 2 year went upto 5%, there would not be any problem on getting a mortgage even at the lowest rate.
Not at 85% LTV they aren't. That loan also has a fairly chunky fee atttached to it. As road pest says, gifted deposits are a bit of a minefield, some lenders are happy to accept them, others most definitely are not.
Is this house a new build?
Road Pest said:
Also lenders don't like deposit paid at the moment, where they pay X%. The "discount" is deducted from the purchase price and then you're looking at a 90% purchase, don't mean to be negative but good luck...
no thats fine, need all the advise thats all, thanks everyonescotal said:
paul26982 said:
alliance & leicester was doing 3.18% i think 2 year fixed and after the 2 year went upto 5%, there would not be any problem on getting a mortgage even at the lowest rate.
Not at 85% LTV they aren't. That loan also has a fairly chunky fee atttached to it. As road pest says, gifted deposits are a bit of a minefield, some lenders are happy to accept them, others most definitely are not.
Is this house a new build?
paul26982 said:
not being big headed but fantastic, also no daft default etc
good for you. RP's idea of around 6% is about right.
You'd be pushed into a 2 or 3 year fixed rate, and like I said you'd have to pick a lender that was happy with the deposit being in part paid by the developer.
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