Hi,
I have bad credit but a deposit of almost 40%. Unfortuantaly we cannot get a mortgage because of two historic settled defaults. I have tried leeds and now have a motgage brooker.
Saffron will offer us the money we want but on a 35 year term (we wanted 25) at 5.39% (leeds was 3.7ish). The are also charging 1% fee for the mortgage even though the website says the arrangment fee is £995 (looking to borrow 235k). Apparently the broker says they charge this for higher risk customers?
Anyway i always wanted a fixed rate as i do not want my payments to start increasing. With the variable rate at 5.39 is it likely to rise and does anybody know how long i am tied into this mortgage? Are there penalties if i leave? etc etc
Also what are your thoughts on this company?
Thanks!!!
I have bad credit but a deposit of almost 40%. Unfortuantaly we cannot get a mortgage because of two historic settled defaults. I have tried leeds and now have a motgage brooker.
Saffron will offer us the money we want but on a 35 year term (we wanted 25) at 5.39% (leeds was 3.7ish). The are also charging 1% fee for the mortgage even though the website says the arrangment fee is £995 (looking to borrow 235k). Apparently the broker says they charge this for higher risk customers?
Anyway i always wanted a fixed rate as i do not want my payments to start increasing. With the variable rate at 5.39 is it likely to rise and does anybody know how long i am tied into this mortgage? Are there penalties if i leave? etc etc
Also what are your thoughts on this company?
Thanks!!!
