Advice on mortgages

we were asked for a 25% deposit if possible!!!

Originally Posted by mrs24_7

we were asked for a 25% deposit if possible!!!

dont get me wrong... as much deposit as possible is best....

but the rumors that mortgages of 90% were unavailable is myth....

Speak to a mortgauge advisor...

I was lucky, I dont belive in fixed rates, went with a BoE base rate tracker, a mere BoE +0.17% for life.

Thats subastantially cheaper than any product out there.

Originally Posted by injury_ian

I was lucky, I dont belive in fixed rates, went with a BoE base rate tracker, a mere BoE +0.17% for life.

I'm glad it's working out well for you at the moment, but you'd probably 'believe in fixed rates' more if the base rate went up to 10%+

Originally Posted by cartwrim

I'm glad it's working out well for you at the moment, but you'd probably 'believe in fixed rates' more if the base rate went up to 10%+

I know they did in the past, but back then the government was in control of the base rate. and they are plebs.

BoE are in a much better seat, i feel confident it will never get that bad again.

after all, to align with the EU (and you can bet thats what the Govenment are after) we need our base rate to come down to circa 3%.

Originally Posted by injury_ian

I know they did in the past, but back then the government was in control of the base rate. and they are plebs.

BoE are in a much better seat, i feel confident it will never get that bad again.

after all, to align with the EU (and you can bet thats what the Govenment are after) we need our base rate to come down to circa 3%.

+1. Over the life of a mortgage, a variable rate will, almost without exception, work out cheaper in total. The only way to get a better rate is to alternate between fixed and variable every 2 years over the life of the mortgage and hope you get the gamble right the majority of the time. It's a lot of hassle and a fair degree more risk, for a comparatively minor return. I just go for variable rate and accept that occassionally, it will do worse, but that it will be better in the long run.

Thanks for all the advice as per usual you are all a knowlegable and helpful lot