Mortgages...

[Nova_Tek]

Evening all... was wondering if anyone can give a bit of info about mortgages seeing as I've never had one and now jack about them.

If you've entered into a mortgage with someone can you/they ask to get out of it at a later date or are you in for the full term?

[novalovingned]

Boring answer but you need to go and see a mortgage adviser my friend :)

I'm not 100% but your not fixed in full term with your parntner or whoever it is. But think it just depends on how far into the mortgage you are. You either agree a fee to "pay them off" or sell and split the profit if there's any etc

This is only my "understanding" and probably not technically correct lol

[wisewood]

Its pretty complicated and the rules can vary between lenders. Speak to a mortgage advisor. Most estate agents will have one and most of them are independent.

[sparkie1401]

my morgage was very VERY hard to obtained simply as i worked and earnt abroud, was really stressful at the time as to me currency is currency and a job is a job but i found a guy in norwich who sorted me out and really new his stuff

pm if you want his number

out of 10 id score him 12

[Stuart]

Evening all... was wondering if anyone can give a bit of info about mortgages seeing as I've never had one and now jack about them.

If you've entered into a mortgage with someone can you/they ask to get out of it at a later date or are you in for the full term?

Basically, if your name is down on the loan, you are responsible for it. To get out you need some mutual consent from the lender and all named parties OR buy out the other party (with the lenders approval), or they buy you out....

In short, carnage lol

[Edd]

you would be best off speaking to a decent independent adviser IMO, or crack in the bank for some basic lowdown

a decent adviser is a must IMO, we are just about to come to the end of our 2 year fixed, our adviser has found a decent rate fixed for 5 years, which works out £60 a month cheaper and knocks a extra 3 years off. Happy days

[meritlover]

An independant advisor doesnt really exist to be honest. If one bank is paying more to push their product than another bank then obviously its in the intrest of the advisor to 'advise' you on that product for their own gain.

so see more than one.

[novalovingned]

In short, carnage lol


This man talks sence lol

[Andy]

Whats this then? You wanna buy but arent planning on staying with ya mrs?

[Jon_nova1]

No, he wants to buy but doesn't have a good enough credit rating so is hoping he can go joint then go unjoint after a short period of time by the sounds.

Youd basically have to take out a new mortgage but it will be more complicated as there is also another party to deal with and pay off etc

[mk1nova_rich]

Whats this then? You wanna buy but arent planning on staying with ya mrs?

Thats how I saw it too lol

[Nova_Tek]

Thanks for the answers guys. It's due to me maybe going into an investment but wanted to know if I can pull out of it should I need to. Weighing my options. That's all.