Chuckle Brother

I am a first time buyer, and basically I am a bit clueless - I need some advice on what kind of mortgage I should be looking at - my circumstances are:

- Earn £35k pa
- Have a loan payment of £267 a month for next 4 years
- Ideally only want to have one payment per month

So, I was considering getting the Northern Rock mortgage where I could loan the house purchase price, then borrow enough to pay back my personal loan, and have one outgoing per month - however the interest rate seems high.

So, should I attempt to borrow 120% of the property value in order to consolidate my loan and mortgage payment, or just go for a normal mortgage (95%), and bite the bullet with the loan payment? Loan is at 7.9% apr.

Thanks

ProperCharlie

not many companies are going to lend you 120% of the value. even deals at 100% are relatively hard to come by and will be less competetive than a lower LTV deal. you need to try and get a bit more capital together.

mgg

Best bet is to see a financial advisor, they will sort it for you no probs.

Me and the Mrs spent week after week last year going to banks, building societies trying to get the best mortgage deal etc.
In the end we got an independant financial advisor round to see us. We told him what we wanted etc, after 2 hours he came up with a top deal and we took it out there and then, much better than any high street bank, mortgage lender could match.

Didnt pay any fee either for his time, as they get there fee from the lender.

http://www.buckles-holdings.co.uk/

Good Luck!