Hi all,
I'm a first time buyer and me and my partner have decided to go for a 5 year fix for our mortgage, as we think that it may be the best option for us.
We've spotted a deal for a 90% LTV 5 year fix for 4.2% with no booking fee. The svr afterwards is currently 5.19% although we would prob plan to remortgage by that stage. After a v brief conversation with the lender I've been told that there's a fair chance we could be accepted for this, so there doesn't seem to be really high criteria to get accepted.
This deal seems q a bit better than others I've seen for the same length and LTV, so am concerned that there's going to be a catch somewhere - but I can't find it!
Just wondering if anyone had any advice as to any potential pitfalls with mortgage deals?
I've made an appointment with them next week, so it will help me ask all the right questions!
Thanks you in advance for any help...
I'm a first time buyer and me and my partner have decided to go for a 5 year fix for our mortgage, as we think that it may be the best option for us.
We've spotted a deal for a 90% LTV 5 year fix for 4.2% with no booking fee. The svr afterwards is currently 5.19% although we would prob plan to remortgage by that stage. After a v brief conversation with the lender I've been told that there's a fair chance we could be accepted for this, so there doesn't seem to be really high criteria to get accepted.
This deal seems q a bit better than others I've seen for the same length and LTV, so am concerned that there's going to be a catch somewhere - but I can't find it!
Just wondering if anyone had any advice as to any potential pitfalls with mortgage deals?
I've made an appointment with them next week, so it will help me ask all the right questions!
Thanks you in advance for any help...