Mortgage Advice

[lock77]

Going tomorrow to sort out a mortgage so we can take the 1st step on the so called property ladder and just needed advice on what everyone thinks would be the best way to go.
Fixed or Variable?

 

[ZoddyZod]

you want us to answer this?

brave man!

if you can get a decent rate for a long period, that's my preference. I feel more comfortable knowing what I will be paying each month without the worry of something awful happening in the world of finace and then my mortgage going through the roof (as happened in the 80's). But that's just me....

 

[lock77]

you want us to answer this?

brave man!

if you can get a decent rate for a long period, that's my preference. I feel more comfortable knowing what I will be paying each month without the worry of something awful happening in the world of finace and then my mortgage going through the roof (as happened in the 80's). But that's just me....

I've never got any bad advice from you lot.
Santander is giving us 4.1% for 2 years for £995

 

[Salam]

Mine is fixed. I'd rather have the stability and know how much I have to pay back every month rather than relying on fluctuations and possibly getting a huge shock.

 

[stu40]

What's a mortgage?

 

[coldcazzie]

Here. This thread contains an excellent mortgage spreadsheet which can compare 2 mortgages and tells you what they cost compared to each other, and how they change if you make any overpayments.

http/forums.moneysavingexpert.com/showthread.html?t=1157173

Downloadable from the first post by Locoblade.

I've used it for a while now and it's brilliant.

ps, my advice in terms of fixed/variable - if you just starting out, go for a fixed rate

 

[lock77]

Eventually got 5.9 fixed for 5 years. Thanks for the advice.

 

[mhancock]

Eventually got 5.9 fixed for 5 years. Thanks for the advice.

At least you'll be safe if the rates jump up again

 

[lock77]

Eventually got 5.9 fixed for 5 years. Thanks for the advice.

At least you'll be safe if the rates jump up again

Personally I feel that Santander screwed us on the 5.9% but my wife fancied the safe option.

 

[mhancock]

Eventually got 5.9 fixed for 5 years. Thanks for the advice.

At least you'll be safe if the rates jump up again

Personally I feel that Santander screwed us on the 5.9% but my wife fancied the safe option.

Maybe, but a happy wife is worth at least 1.4% !!!!

 

[The Taffy Apple]

Eventually got 5.9 fixed for 5 years. Thanks for the advice.

At least you'll be safe if the rates jump up again

Personally I feel that Santander screwed us on the 5.9% but my wife fancied the safe option.

Maybe, but a happy wife is worth at least 1.4% !!!!

Seconded.

Terry.

 

[ian]

Eventually got 5.9 fixed for 5 years. Thanks for the advice.

At least you'll be safe if the rates jump up again

Personally I feel that Santander screwed us on the 5.9% but my wife fancied the safe option.

Maybe, but a happy wife is worth at least 1.4% !!!!

this made me proper lol!!