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Buying 175k property with 25% deposit, which mortgage is best for me?

Last post Thu, Apr 23 2009, 9:30 AM by parisv. 2 replies.
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  •  Thu, Apr 23 2009, 9:30 AM

    Re: Buying 175k property with 25% deposit, which mortgage is best for me?

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    thanks for the reply. Yeah this is my first property so I'm probably gonna stay here for around 3 years.
    • Post Points: 5

  •  Thu, Apr 23 2009, 5:04 AM

    Re: Buying 175k property with 25% deposit, which mortgage is best for me?

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    Hi, 'if' the reason you are going for an 'interest only mortgage' is because you are not intending to stay in the property for very long, then dependent on 'how long' you are intending to stay as to whether you should go for a 3 year fixed rate or longer? For any period of less than three years then I personally would go for a varied rate.

    Good luck with whatever you decide.
    • Post Points: 20

  •  Wed, Apr 22 2009, 10:36 PM

    Buying 175k property with 25% deposit, which mortgage is best for me?

    Reply Quote Report Abuse

    Hello,

    I want to buy a property for 175k and I have a 25% deposit.

    So I'm looking to get an interest only mortgage for £133,000. I just want to ask peoples opinions on what i should get. I know the final choice is mine but just wanted to see what other people would do.

    I have been looking at 3 and 5 year fixed rate mortgages but not sure what will be best!
    • Post Points: 20