marginalwalker wrote:Alan L wrote:Had my offer accepted
How much is the flat? Which morgage did you go for? Did you have a deposit?
Not going into specifics until the thing's done and dusted or, more likely, a dodgy survey forces me to withdraw my offer! I'm a paranoid fecker and you never know who's reading this.
I don't have a deposit. I've a mortgage agreement in principle with the Northern Rock. They lend first time buyers an unsecured loan of up to 25% of the property's value on top of your mortgage at the same interest rate and coleect the lot in one monthly payment.
I know roughly how much it would cost me per month if I took the maximum I'm allowed to borrow over 35 years but obviously won't know exact figures until the whole thing's sorted.
I'll borrow the deposit from my parents and use the unsecured loan to pay that back, furnish the place and pay off my credit card.
I'll happily offer further details if and when I've got the keys in my hand.