Mortgage Question
 

I realise there are some IFA's on here so thought I would ask the question.

Lets say I am looking at a property value of £150k.

I have £25k deposit.

I am looking at taking the mortgage out over 30 or 35 years.

I have had a fixed mortage up until now, but I would be open to different options however dont really want to be tied in longer than 2 years or so.

The house I am living in is being sold and split between me and my ex, I need to settle myself somewhere else.

What sort of repayments am I looking at? I would rather not have interest only.

If anyone out there know of any deals worth telling me about, please do.

go to fool.co.uk

they have mortgage calculators for the differing types of mortgage.

don't forget to look into foreign currency mortgages either - potentially lower rates fixed for longer than you might get here.

Sounds interesting, has anyone else on here gone down this route? Any other pitfalls I might not think of going down this route over sorting one through the uk?

Hi Mark

Currency fluctuations are the big issue with foreign currency mortgages - if they go against you, you could end up having to pay back a lot more.

I would have a chat with a mortgage broker and ask their advice.

Chris

what about one of the one account type mortgage (australian I think they call them) you could put 5% deposit down which leaves you 17.5k, you have this in a sort of savings account, and the interest earned from this reduces your term on the mortgage as the interest is sort of offset. Benefit of this is if you are short of cash, holiday etc then you can still dip into the savings

Some good ideas there, thanks for the input fellas, Chris how are things? Have you moved on yet?