James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
At the end she said we will offer you £150,000 based on a 10% deposit........
Now does that mean I could look at properties for £165,000? Or does the £150,000 include my deposit?
|
Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
|
I would of thought £150,000 on top of the 10%.
Out of interest, what sort of rate and repayment amount is that?
|
MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
|
150k or even 165k doesn't get you diddly squat down in and around London...
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
quote:
Originally posted by MarkM
150k or even 165k doesn't get you diddly squat down in and around London...
£150k won't get me much round here.
£165k will get me a nice 2 bed flat though, possibly even a terraced house.
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
Dunno what the rate/repayments were.
Was just focusing on how much I could borrow.
|
MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
|
quote:
Originally posted by James
quote:
Originally posted by MarkM
150k or even 165k doesn't get you diddly squat down in and around London...
£150k won't get me much round here.
£165k will get me a nice 2 bed flat though, possibly even a terraced house.
Commute into London? Probably your best bet.
Back up north 165k would get you a 3 bed semi with front and rear gardens...driveway...garage...
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
Yeh well I never had any intention of moving into London - the commute is no issue for me.
|
Hammer
Member
Registered: 11th Feb 04
User status: Offline
|
You don't know the rate or repayments and you don't know if the deposit was included in the total amount. What were you talking about with the mortgage advisor, the weather? 
|
Nath
Member
Registered: 3rd Apr 02
Location: MK
User status: Offline
|
Furniture I reckon.
|
MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
|
quote:
Originally posted by James
Yeh well I never had any intention of moving into London - the commute is no issue for me.
It's what I do... about 14 miles in...
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
quote:
Originally posted by Hammer
You don't know the rate or repayments and you don't know if the deposit was included in the total amount. What were you talking about with the mortgage advisor, the weather?
I just wanted to know how much I could borrow, it was a very quick conversation.
The repayments don't really bother me to a certain extent.
|
gtitim
Member
Registered: 13th Feb 05
Location: the boonies
User status: Offline
|
Would have thought she meant you can have 150k mortgage providing you have a 15k deposit??
|
Danny P
Member
Registered: 20th Nov 02
Location: Cleckheaton, West Yorkshire
User status: Offline
|
quote:
Originally posted by MarkM
Back up north 165k would get you a 3 bed semi with front and rear gardens...driveway...garage...
Northen Cheapness FTW
You could get 2 houses for that up here
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
Halifax FTW - They will lend me £164,000 + 10% Deposit = £180,400
|
pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
|
Whats the terms if you dont mind me asking James?
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
Do you mean repayments?
Well the quote I got was fixed at 6.64% (Pretty poor IMO).
I got a detailed quote based on a property price of £160k because I don't really need the full £180k.
Repayments were £795 a month which isn't too bad.
|
PaulJMcT
Member
Registered: 13th Oct 07
Location: Falkirk
User status: Offline
|
£165K up central scotland will buy you a detatched 4 bed house with garage front and rear gardens in a nice area.
Fuck living in London! Quiet living FTW
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
quote:
Originally posted by PaulJMcT
£165K up central scotland will buy you a detatched 4 bed house with garage front and rear gardens in a nice area.
Fuck living in London! Quiet living FTW
I don't live in London 
|
pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
|
quote:
Originally posted by James
Do you mean repayments?
Well the quote I got was fixed at 6.64% (Pretty poor IMO).
I got a detailed quote based on a property price of £160k because I don't really need the full £180k.
Repayments were £795 a month which isn't too bad.
£795 a month for 160k
Over how many years? That would like pretty much clear me out
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
25 years.
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
thats not right; I'm paying £719.00 per month on a £110k mortgage based on a fixed 6.05%
Something seems wrong with your quote
|
RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
|
with a very quick calc based on borrowing £150,000 at 6,64% the monthly interest would be £830. The £795 doesn't even cover the interest let alone repayments. I'd say they've quoted you a 40 year term
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
quote:
Originally posted by LiVe LeE
thats not right; I'm paying £719.00 per month on a £110k mortgage based on a fixed 6.05%
Something seems wrong with your quote
Does yours include any of the insurance stuff they offer?
Life cover, critical illness cover etc?
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
Sorry it was an interest only quote.
|
James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
|
Also I said £160k property price - roughly a £144k loan.
|
