No lender will do an interest only mortgage (other then buy to let) that is just not realistic.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Owning your home.
- Thread starter city2
- Start date
My mum is on an interest only mortgage - house purchased in 2006.No lender will do an interest only mortgage (other then buy to let) that is just not realistic.
Mr Kobayashi
Well-Known Member
- Joined
- 1 Oct 2020
- Messages
- 17,122
My mum is on an interest only mortgage - house purchased in 2006.
I've just done a search for interest only products on a comparison site and got 43 pages of results.
It’s good @Blue Mist isn't a mortgage broker. :)
I am amazed. She must have a lot of equity in the house but she did not buy her first house in 2006. Shevlike me was very lucky. I started off on an interest only (endowment) mortgage in 1984 and remained on one until I paid it off. They simply do not offer them now as new mortgages.My mum is on an interest only mortgage - house purchased in 2006.
theres only one carlito
Well-Known Member
- Joined
- 31 Mar 2010
- Messages
- 1,998
- Team supported
- Manchester City since 1980
Hmm it’s a puzzler.Sorry but isn't that just life? (Not having enough disposable income). Any spare income I get, I wack in to my savings.
You pay a mortgage so that when you retire, hopefully your mortgage is paid off and you can live in your owned house rent free and just need to pay the other bills.
Fuck paying rent all of your life, you are filling the pockets of a landlords and rent is typically higher than what you'd pay on a mortgage.
If you are struggling to save then make sacrifices. Life is tough. It is funny seeing people in their 20s moan about the housing crisis when they're dressed in designer gear and have just got back from a trip to Thailand and probably have Glastonbury tickets sorted for next year.
My view changed when my mum died.
She paid her mortgage for 30 years 2/3 jobs at a time, dead at 55.
Did nothing but work and save a bit and then gone.
You’ve gotta have fun with your life, you can’t put everything on the burner for a future you may not have. You got to enjoy it.
But maybe that’s just hindsight?
43 pages hmmmmmmI've just done a search for interest only products on a comparison site and got 43 pages of results.
It’s good @Blue Mist isn't a mortgage broker. :)
The first 2 I looked at Leeds Building Society.... buy to let only. The second Nat West.... buy to let.
Mr Kobayashi
Well-Known Member
- Joined
- 1 Oct 2020
- Messages
- 17,122
43 pages hmmmmmm
The first 2 I looked at Leeds Building Society.... buy to let only. The second Nat West.... buy to let.
There was questionnaire that filtered out BTL products before I even got the results.
You said "no lender", not big bank or building society.
OK, other than crooks, mafia, the loan shark down the pub.........The was questionnaire that filtered out BTL products before I even got the results.
You said "no lender", not big bank or building society.
Mr Kobayashi
Well-Known Member
- Joined
- 1 Oct 2020
- Messages
- 17,122
OK, other than crooks, mafia, the loan shark down the pub.........
Do illegal lenders list their details on comparison sites?
Blue Maverick
Well-Known Member
- Joined
- 6 Aug 2010
- Messages
- 21,907
So he created a company with his mate they get round the tax that way so it’s not bollocks maybe you need to check Rightmove pal before calling people out, https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=POSTCODE^1180759&maxBedrooms=3&minBedrooms=3&radius=3.0&propertyTypes=&includeLetAgreed=false&mustHave=&dontShow=&furnishTypes=&keywords=All of that is bollocks. Simply bollocks. There is no system to exploit the tax other than deliberately, criminally avoiding tax. There is no 3 bed semi in Oldham for 1k rent. IF you mean out in the country under the Oldham Post code I'd still call bollocks.