Tuesday, September 9, 2008

From the channel that brought you property porn

Mortgage rates 'continue to fall'

If you have 25% deposit, and don't mind stumping up the arrangement fee, then the rates are falling....but then again if you've got plenty of money then wait a while longer, cut out the middlemen, and buy cash! If the average house price is say 175K, the average joe is unlikely to have +43K sloshing around. If you already have a house which you wish to sell to release the equity to put as a deposit on another 'better / bigger / smaller / urban / rural...pad - delete as applicable - then selling it is your first hurdle! I thought the reason for wanting a mortgage was that you needed 'a loan' to buy a house, obviously reducing the loan amount by putting in a deposit that you could afford without swallowing up all your liquid assests......or am a I wrong?

Posted by whostolemyendowment @ 04:57 PM (378 views)
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