Mortgages

platypus · 5 Nov 2007 at 12:21

Just checking through some online calculaters - are these an accurate representation? Or is the best thing to do to go to a bank/mortgage broker and sit down and chat through options.

Probably going to end up getting a joint mortgage

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platypus · 5 Nov 2007 at 13:03

mulpsmebeauty said:
I think they get a fee from the bank who you get a mortgage with. They may also have tie-in deals with insurers that they recommend when you visit them.

Where would one find them?

Using on-line mortgage calculators doesn't paint a pretty picture for the possible amount

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platypus · 5 Nov 2007 at 13:25

Don't see why you can't post it, it's not a competitor.

Thanks for the website, I'll take a look. Is it worth getting a mortgage at the moment, given the sub-prime fiasco?

platypus · 5 Nov 2007 at 13:37

As I'm an OcUK'er can I get a discount?

Sadly where I live property is incredibly expensive.

Thanks for the information.

platypus · 5 Nov 2007 at 14:35

LeaguePosition14 said:
That's an understatment! Flats where I live are 205k for 2 bedrooms. (Just off Coldhams lane)

Aye, average price for a 2bed in Cambridge is now £258k

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Bog - about first time buyer mortgages, are these just a rip off or the only way to get on the ladder? And what about 30-50 year terms, rather then the standard 25?

platypus · 6 Nov 2007 at 16:11

sunama said:
Platypus, given that you have a car, I would urge you to buy further out (cheaper prices). I know its not ideal, but paying £250k for a property close to the town centre, as a first time buyer is very risky and will put you on the rails. Your life will be tough and you may even have to sell the boat

I've been slowly reaching this conclusion - even though I only use my car to drive to work (bicycle at all other times). I really don't want to live outside the centre though, and so will probably continue to rent for a while.

And the boat stays

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platypus · 6 Nov 2007 at 16:49

dannyjo22 said:
Plus with the likelyhood of a congestion charge to get to work costing £25 per week you may as well stay in town.

I work outside Cambridge anyway (hence why I drive) so that wouldn't be a problem, but yeah the difference in house prices is too big.

@sunama: You're right, you'd like to think there is more to life, but then at the end of the day I struggle to think of anything.