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Ursa Minor

Types Of Mortgage

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I was just wondering what people's intentions were when they decide to buy in. What is the best choice, do you think, and why?

I'm particularly interested in views about offsetting mortgages - are these really the "fantastic" deal they claim to be (I doubt it but then I'm quite cynical).

Ursa Minor

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I was just wondering what people's intentions were when they decide to buy in. What is the best choice, do you think, and why?

I'm particularly interested in views about offsetting mortgages - are these really the "fantastic" deal they claim to be (I doubt it but then I'm quite cynical).

Ursa Minor

Offset mortgages are normally only better value if you have at least 40% of the mortgage available to offset it - otherwises the saving don't work.

Tho if your a big stoozer they can great. If you ready the moneysavingexpert forums there are several users who by stoozing up 80k (working couple) have offset the whole mortgage to zero % credit cards.

However by the time I can afford the buy, credit tightening will make this an unlikely option. :(

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I would go for a fixed rate, as it allows you to budget easier. Not sure about the 10 year fixes, as I couldn't be sure I'll be living in the same house over that time span!

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Fixed rate for up to 5 years but only one that allows me to make huge overpayments. That's if there is such a product, otherwise I may go for an offset as my mortgage will be approx 40% my deposit/savings.

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Fixed rate for up to 5 years but only one that allows me to make huge overpayments. That's if there is such a product, otherwise I may go for an offset as my mortgage will be approx 40% my deposit/savings.

My big question about offset mortgages is, say you have the 40% mentioned by another poster, what is the advantage of an offset mortgage, versus just paying that money off the mortgage or putting it down as a deposit?

UM

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Guest wrongmove

My big question about offset mortgages is, say you have the 40% mentioned by another poster, what is the advantage of an offset mortgage, versus just paying that money off the mortgage or putting it down as a deposit?

UM

Flexibility. You still have instant access to the cash.

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I was just wondering what people's intentions were when they decide to buy in. What is the best choice, do you think, and why?

I'm particularly interested in views about offsetting mortgages - are these really the "fantastic" deal they claim to be (I doubt it but then I'm quite cynical).

Ursa Minor

Depends a lot on where IR's stand at the time.

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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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