Hello, was wondering if someone could answer a few questions I have regarding length of a mortgage.
I am due to start a 25 year mortgage that is fixed for 2 years, after the two years are up can I switch the period to say 10/15/20 years if my salary allowed it?
Reason for the question is my partner and I will be saving large amount of money over that period and will reduce the loan amount from £166,500 to around (we hope) £120,000.
Do you know if the banks have issues with mortgages with a low period on them? are they hard to find?. I am a FTB so I am a little clueless when it comes down to this kind of stuff
I am due to start a 25 year mortgage that is fixed for 2 years, after the two years are up can I switch the period to say 10/15/20 years if my salary allowed it?
Reason for the question is my partner and I will be saving large amount of money over that period and will reduce the loan amount from £166,500 to around (we hope) £120,000.
Do you know if the banks have issues with mortgages with a low period on them? are they hard to find?. I am a FTB so I am a little clueless when it comes down to this kind of stuff