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Help On Mortgage!  
User currently offlineAlcregular From , joined Dec 1969, posts, RR:
Posted (12 years 1 month 1 day 9 hours ago) and read 1557 times:

Im thinking on getting a mortgage and just want any help or advice on getting one. Im after a 100% (I know, bad) but I need to move out of home and fly the nest (again), any comments greatly appreciated,


8 replies: All unread, jump to last
User currently offlineMYT332 From Australia, joined Sep 2003, 9120 posts, RR: 67
Reply 1, posted (12 years 1 month 1 day 8 hours ago) and read 1541 times:

Goto a mortgage advisor?

One Life, Live it.
User currently offlineAlcregular From , joined Dec 1969, posts, RR:
Reply 2, posted (12 years 1 month 1 day 8 hours ago) and read 1535 times:


Just thought I might be able to get some advice from personal experiences

User currently offlineMYT332 From Australia, joined Sep 2003, 9120 posts, RR: 67
Reply 3, posted (12 years 1 month 1 day 8 hours ago) and read 1532 times:

Soz im mean, your right, someone will give their advise, ignore my sarcky remarks.

I think we (parents) got our mortgage from the chelsea n we have real issues with credit, so try there if ya stumped! hehe

One Life, Live it.
User currently offlineCadmus From United Kingdom, joined Jan 2004, 188 posts, RR: 0
Reply 4, posted (12 years 1 month 1 day 8 hours ago) and read 1522 times:

The Working Lunch website will take you through the basics.


As for a specific lender, I used my local building society (Saffron Walden Herts & Essex) and they were very friendly and helpful, so it may be worth your while to look to the ones in your area before going to the big banks.

Understanding is a three-edged sword
User currently offlinePacificjourney From New Zealand, joined Jul 2001, 2741 posts, RR: 7
Reply 5, posted (12 years 1 month 1 day 6 hours ago) and read 1508 times:

A 100% mortgage is pure evil, don't do it.

That's my advise.

" Help, help ... I'm being oppressed ... "
User currently offlineRyanb741 From United Kingdom, joined Mar 2002, 3222 posts, RR: 15
Reply 6, posted (12 years 1 month 15 hours ago) and read 1492 times:

Scottish Widows do a 102% mortgage for graduates - I think interest is 5.04% up to 5.84% in year 5.

I'm about to get one. I would rather use the bank's money to get a home, not my own thank you. Also, do interest only - it makes it cheaper at the start.

I used to think the brain is the most fascinating part of my body. But, hey, who is telling me that?
User currently offlineAlert3 From United States of America, joined Feb 2004, 110 posts, RR: 1
Reply 7, posted (12 years 1 month 1 hour ago) and read 1480 times:

100% is not so bad.... just if you can make an extra payment every year makes a huge difference. Or put down an extra $100/month... something like that. If you can put 20% down.... that is great because you won't have to pay for the PMI (for us about $60/month wasted). But if they offer you 0, 3, 5, 10% down etc., go for the low one.... it makes a very nominal difference in your monthly payments. For example: ours is a $150,000 loan. We put down 3%.... if we had put down 10% it only made a difference of $15 dollars per month over the 30 year loan.... so we pay a little extra.... it all makes a difference.

User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 52
Reply 8, posted (12 years 4 weeks 1 day 14 hours ago) and read 1471 times:

The truth of the matter is that the first, albeit sarcastic, comment was the right one. People's circumstances differ hugely, and you need professional advice, not from a group of people on a site like this.

Check out some of the publications such as Which as well.

Buying a house is the biggest purchase of your life, and moving a mortgage is the second biggest. Get some proper help.

She's as nervous as a very small nun at a penguin shoot.
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