Mortgage advice.

IWANT1 · Post by **IWANT1** » Mon Jan 24, 2011 1:41 pm

Mortgage advice.

Can anyone help?

Post by **Stuart** » Mon Jan 24, 2011 1:49 pm

Depends whether it's generic advice or specific to you and your financial requirements.

Generic; yeah, easy but then the best generic advice can often be sought online

Specific; PM Nick who owned the R34GT-R on here........Nick Wilson. That's what he does for a very good living

IWANT1 · Post by **IWANT1** » Mon Jan 24, 2011 4:10 pm

Too many options is the problem fixed, capped, tracker this rate that rate 2,3,5 years etc,

Mr Fletcher · Post by **Mr Fletcher** » Mon Jan 24, 2011 9:24 pm

pay as much as you can as quick as you can

Post by **Stuart** » Mon Jan 24, 2011 9:58 pm

If you have a large deposit or spare disposable income, I would do as Jase suggests and keep the borrowing down as much as possible. Overpaying monthly can be one way, or simply ensuring that the amount of loan against the equity is small (Loan to value rate)

Mortgage rates are about as low as I can remember right now (been paying a mortgage for 18 years) My own mortgage comes off of a fixed rate in March and I will be leaving it on a variable rate for now. Watch for large redemption penalties with any mortgage. If I wanted to switch mine at all during the first five years, the fee was 9k!

I like the mortgages that allow you to overpay without penalty (check the small print) The savings available through paying something off in 20 years instead of 25 will blow your mind.