Hi All,
In the coming weeks i will hopefully be purchasing my first house.
At the moment i am intending to get a house around the £230,000 - £250,00 mark.
I have a few questions, hoping someone can help.
1) In the coming years i expect my salary to increase quite dramatically. As a result i don't really want to struggle financially thus have intended to take a 35 year mortgage. When i start earning more would i be able to negotiate the term down?
2) I am intending to take a 2 year fixed mortgage. Assuming i find a house i want and it costs £240,000 and i put 10% down (so a £216,000 mortgage) how much would i have to repay early to get my LTV to 15%/20% when i start looking for new deals after the 2 years?
Many Thanks
In the coming weeks i will hopefully be purchasing my first house.
At the moment i am intending to get a house around the £230,000 - £250,00 mark.
I have a few questions, hoping someone can help.
1) In the coming years i expect my salary to increase quite dramatically. As a result i don't really want to struggle financially thus have intended to take a 35 year mortgage. When i start earning more would i be able to negotiate the term down?
2) I am intending to take a 2 year fixed mortgage. Assuming i find a house i want and it costs £240,000 and i put 10% down (so a £216,000 mortgage) how much would i have to repay early to get my LTV to 15%/20% when i start looking for new deals after the 2 years?
Many Thanks