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Author Mortgages
--Dave--
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Registered: 17th Feb 04
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11th Jul 05 at 11:49   View User's Profile U2U Member Reply With Quote

where's the best place to go (online preferably) for a mortgage?

Heard that there are a few places that offer 5 times your salary but can't find em.

Help!



Ian
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Registered: 28th Aug 99
Location: Liverpool
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11th Jul 05 at 12:06   View Garage View User's Profile U2U Member Reply With Quote

Northern Rock generally lend lots but they wouldn't for me. Best offer on mine was with Barclays who are my own bank, underwritten by Woolwich.

There is the issue of how you're going to pay back such a large amount though, fine if you tie-in to a long term fixed rate but anything variable is just simply unpredicatable.

Use the Egg calculator to find out what the monthly will be, start with a rate of around 4.5%, then put it up to 7 or 8 and see if you can still afford it a few years down the line if the rates go up.

If not then you need a long term tie-in but be aware of course, you might spend more if the rates go down just to have that security. Many places are doing 10 year now, with the benefit that you know what your outgoings are month on month.

http://new.egg.com/visitor/0,2388,3_54988--View_1028,00.html
--Dave--
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11th Jul 05 at 12:11   View User's Profile U2U Member Reply With Quote

thanks Ian I'll give them a look
Blue
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11th Jul 05 at 12:13   View User's Profile U2U Member Reply With Quote

I found mine on http://www.moneysupermarket.com which searches for the best deal dependin on your circumstances.

Eventually got it from Halifax
jaffa
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11th Jul 05 at 12:15   View User's Profile U2U Member Reply With Quote

go to a estate agents and book in with their mortgage advisor. I went to Britannia (my savings building society), nationwide, natwest (my bank) and two estate agent mortagage advisors

the estate agents go through loads of companies that offer mortgages and advise whats best for you.
TNM
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Registered: 5th Apr 04
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11th Jul 05 at 12:15   View User's Profile U2U Member Reply With Quote



90k over 25 years from egg

intrest only total repay is 219,150.00
on repayment its 169,695.61
Ian
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11th Jul 05 at 12:16   View Garage View User's Profile U2U Member Reply With Quote

Yeah I didn't like the comparison web site stuff, they list some NR stuff at like 2.99% which sounds too good to be true and it is - after two years at 2.99 you then are tied in to five years at 7 something, which is quite bad.
Ian
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11th Jul 05 at 12:16   View Garage View User's Profile U2U Member Reply With Quote

You can change the rate Tim, 5.74 is well high at the moment.
--Dave--
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11th Jul 05 at 12:33   View User's Profile U2U Member Reply With Quote

fcuks sake most I can borrow is around 97k. Will get fcuk all round here for that money

Renting it is... probably for the best really.

Anyone here rented before? I'm worried about how secure it all is? I know you get put on fixed contracts but what happens when you come to the end? Do you agree a new one? etc...

Edd
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Registered: 8th Nov 04
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11th Jul 05 at 12:36   View User's Profile U2U Member Reply With Quote

fuck sake 93k would get you a cracking house round my way
--Dave--
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11th Jul 05 at 12:37   View User's Profile U2U Member Reply With Quote

^^^ I didn't want to know that

Takes the piss it really does, could get a frikking castle up north for that amount

down here you'd be lucky to get a cardboard box in your local park
Mark Petty
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11th Jul 05 at 12:40   View User's Profile U2U Member Reply With Quote

Have you thought about shared ownership?
Where you buy say 50% of the property and pay rent on the other 50%?

That could be a way to help you get on the property ladder
iceman
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Registered: 22nd Jul 00
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11th Jul 05 at 12:41   View User's Profile U2U Member Reply With Quote

i need 200k for a nice 2 bed house around here
CCA
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11th Jul 05 at 12:41   View User's Profile U2U Member Reply With Quote

If your looking to buy then i would say dont rent first as your gonna be throwing money away that you could be saving.
--Dave--
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11th Jul 05 at 12:41   View User's Profile U2U Member Reply With Quote

I have no deposit saved
Edd
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11th Jul 05 at 12:42   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by --Dave--
^^^ I didn't want to know that

Takes the piss it really does, could get a frikking castle up north for that amount

down here you'd be lucky to get a cardboard box in your local park


but you get the pleasure of living in...ehh....essex...........
iceman
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11th Jul 05 at 12:43   View User's Profile U2U Member Reply With Quote

no desposit no morgage im afraid
Mark Petty
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11th Jul 05 at 12:44   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by iceman
no desposit no morgage im afraid


you can get a mortgage with out a deposit.

You can actually get a mortgage for 110%

the interest rates will be bad though
--Dave--
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11th Jul 05 at 12:44   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by iceman
no desposit no morgage im afraid


then why do most banks/building societies offer 100% mortgages?
Edd
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11th Jul 05 at 12:44   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by iceman
no desposit no morgage im afraid


correct me if im wrong but if you get a 100% mortgage i thought you didnt need a deposit
--Dave--
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11th Jul 05 at 12:44   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Edd_20
quote:
Originally posted by --Dave--
^^^ I didn't want to know that

Takes the piss it really does, could get a frikking castle up north for that amount

down here you'd be lucky to get a cardboard box in your local park


but you get the pleasure of living in...ehh....essex...........


essex is a nice place....
Edd
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Registered: 8th Nov 04
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11th Jul 05 at 12:45   View User's Profile U2U Member Reply With Quote

spooky 3 replies at the same time
CCA
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11th Jul 05 at 12:45   View User's Profile U2U Member Reply With Quote

Im getting a joint mortgage without a deposit and the interest isnt that bad to be honest.
Edd
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Registered: 8th Nov 04
Location: Glasgow
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11th Jul 05 at 12:46   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by --Dave--
quote:
Originally posted by Edd_20
quote:
Originally posted by --Dave--
^^^ I didn't want to know that

Takes the piss it really does, could get a frikking castle up north for that amount

down here you'd be lucky to get a cardboard box in your local park


but you get the pleasure of living in...ehh....essex...........


essex is a nice place....


yes i heard the women are nice
Ally
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Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
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11th Jul 05 at 12:52   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by iceman
no desposit no morgage im afraid


False, you can have a 100% mortgage where u pay no deposit

However u still need to play solicitor fees etc

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