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right_freds_dead

Mortgage Advice

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just hung up on mortgage seller. heard about my viewings and calling to talk mortgages.

im up for it as i may offer on this one.

got some ball park figures on a 25 yrs repayment mortgage.

£120k -5% deposit. fixed rate 4.49% for 2 years. £630 pcm.

is this good ?

what do i need to ask about next ?

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just hung up on mortgage seller. heard about my viewings and calling to talk mortgages.

im up for it as i may offer on this one.

got some ball park figures on a 25 yrs repayment mortgage.

£120k -5% deposit. fixed rate 4.49% for 2 years. £630 pcm.

is this good ?

what do i need to ask about next ?

The beeb mortgage calculator brings that out at £645 pcm

You need to know what the rate will be after the 2 years are up.

Are there any charges for moving mortgage after the 2 years..are you tied in?

Is there an arrangment fee?

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Guest Charlie The Tramp

just hung up on mortgage seller. heard about my viewings and calling to talk mortgages.

im up for it as i may offer on this one.

got some ball park figures on a 25 yrs repayment mortgage.

£120k -5% deposit. fixed rate 4.49% for 2 years. £630 pcm.

is this good ?

what do i need to ask about next ?

Well my last mortgage in 1976 of 12k @ 15% interest and repayments of £132 per months makes your one look a good deal. My wages in 1976 5k. with a 33% deposit :)

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cheers for the advice youse guys. i think im going ahead with this. it seems like a normal square deal.

the last poster did it for me. now i know i have found a bargain.

no arrangement fee. ill aks about being fixed in thanks.

Edited by right_freds_dead

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just hung up on mortgage seller. heard about my viewings and calling to talk mortgages.

im up for it as i may offer on this one.

got some ball park figures on a 25 yrs repayment mortgage.

£120k -5% deposit. fixed rate 4.49% for 2 years. £630 pcm.

is this good ?

what do i need to ask about next ?

Double check the annual percentage rate before you finalise, some less scrupulous salesmen calculate the interest rate to give the minimum headline figure but the apr can end up much higher.

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Double check the annual percentage rate before you finalise, some less scrupulous salesmen calculate the interest rate to give the minimum headline figure but the apr can end up much higher.

Most prevalent in the car world.

Headline is a flat rate.

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Depending on your circumstances, it may be worth finding out how much extra it will cost per month to cover against redundancy. I recall you mentioned redundancy more than once in an earlier thread.

Also, find out if there is a penalty for paying off a lump sum if the possiblity arises. It might be worth posting the name of your (potential) lender, to perhaps get an opinion of them from another borrower.

Good luck. I'm glad you took a few more property details to keep them on their toes :D

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See if the interest is calculated daily, monthly or yearly. See if it allows over payments (most will allow 10% of total per year).

Personally I'd tie it down for 5 years if you have no intentions of moving and job is secure.

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Check for tie-ins.

The rate sounds good, but be careful of lower rates.

As long as you can get yourself out of the deal after 2 years without major penalties, it sounds ok.

Ask for the penalty clauses.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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