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Morgage help!
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By (user no longer on site)
over a year ago
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Google, there are loads of goods sites with current deals and 'mortgage calculators' dunno about deposits but there must be something about that somewhere.
I'm house hunting too at the moment and have found lots of useful sites for this stuff.
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By (user no longer on site)
over a year ago
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"Boring I know but what is the minimum deposit you would need for a £600,000 house. And what could you expect the repayments to be like monthly. I have no idea how they work lol.. "
If you can afford a £600,000 house, you'd know better than seeking advice from a swinging forum  |
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By (user no longer on site)
over a year ago
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OOf you'd need a good size deposit for that bad boy. You'd be looky to get a mortgage with a 10% deposit these day's and if you did the interest is shocking. If you did find a lender who give you a mortgage with 10% deposit there's 60 grand straight away! Then you've got fee's ontop of that.
I'm guessing you haven't got a house already seeing as you know so little. As already said use the mortgage calculater, your bank will probably have one on their website. Oh and speak to a mortgage advisor.  |
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It's not just your deposit that would be taken into consideration - your ability to afford the repayments would be examined before determining what interest rate you'd be offered. The higher the risk of you defaulting on the loan, the higher the interest rate will be.
You'd also need to consider the term of the mortgage... the longer the term, the lower the monthly repayments will be, but obviously the final amount repayable will be substantially higher as a result.
Were you interested in a 600K mortgage or a mortgage on a 600K property? |
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OK, Money Supermarket gave me some rough figures... I'd take these with a fairly hefty pinch of salt, but it does give you an idea of what sort of figures you'd be looking at.
The maximum loan to value I could get was 90% (so as mentioned you'd need a £60K deposit, and the bank would give you £540K). That was with an imaginary salary of £125K with zero outgoings. Any salary less than that and it wouldn't give me any results, and suggested I contact them to speak to their mortgage specialists.
Specifying that I wanted to only be tied-in to the mortgage for the first 5 years (otherwise I'd have to pay a hefty fee to switch) and chosing a 25 year mortgage, whilst opting for a repayment mortgage (i.e. paying the interest on the loan and the amount borrowed and not just the interest payments on their own) I got deals such as:
Halifax Tracker mortgage - 5.39% APR for 2 years, then reverting to their base rate mortgage... which would be an initial monthly repayment of £3,286 per month! |
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By (user no longer on site)
over a year ago
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"If you can afford £600,000 wouldnt have thought you need to worry"
completeley agree 26 years old and lokking to buy a 600k house???????????????????????????????????????????????????????????????? |
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By (user no longer on site)
over a year ago
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this is what always gets me about programmes like 'location, location' or 'a place in the sun'
'sue is a part time librarian, brian is a postman, they have a budget of £680,000'
how ? |
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By (user no longer on site)
over a year ago
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"Boring I know but what is the minimum deposit you would need for a £600,000 house. And what could you expect the repayments to be like monthly. I have no idea how they work lol.. "
your looking at buying a £600,000 house and your asking people on here for advice about it? |
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By (user no longer on site)
over a year ago
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"Boring I know but what is the minimum deposit you would need for a £600,000 house. And what could you expect the repayments to be like monthly. I have no idea how they work lol..
If you can afford a £600,000 house, you'd know better than seeking advice from a swinging forum "
I was thinking the same thing.  |
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By (user no longer on site)
over a year ago
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"this is what always gets me about programmes like 'location, location' or 'a place in the sun'
'sue is a part time librarian, brian is a postman, they have a budget of £680,000'
how ?"
If they bought their houses a long time ago then they may have a lot of capital saved up from previous houses or may have inherrited money
I know a few of the lads in work have a couple of houses that they rent out. That could also be another way they can afford it. |
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By (user no longer on site)
over a year ago
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"Simple cry for attention one thinks 
don't be too sure
he is a young professional after all "
im a old professional but i cant afford a £600.000 house lol |
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By (user no longer on site)
over a year ago
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"Simple cry for attention one thinks
don't be too sure
he is a young professional after all
im a old professional but i cant afford a £600.000 house lol"
you and me both naughty
that said, where i live, i could get the full street for that  |
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By (user no longer on site)
over a year ago
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"this is what always gets me about programmes like 'location, location' or 'a place in the sun'
'sue is a part time librarian, brian is a postman, they have a budget of £680,000'
how ?"
 I'm still off on holiday and hooked on Escape to the Country, Place in the Sun et al and I've been wondering the same thing.
One I saw the husband was a policeman, the wife had a little catering business and they were looking at million pound houses. 
I did think how can they afford that?!! |
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By (user no longer on site)
over a year ago
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"this is what always gets me about programmes like 'location, location' or 'a place in the sun'
'sue is a part time librarian, brian is a postman, they have a budget of £680,000'
how ?
I'm still off on holiday and hooked on Escape to the Country, Place in the Sun et al and I've been wondering the same thing.
One I saw the husband was a policeman, the wife had a little catering business and they were looking at million pound houses.
I did think how can they afford that?!! "
depends met police sargent or above could be on 80,000+ a year |
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By (user no longer on site)
over a year ago
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"this is what always gets me about programmes like 'location, location' or 'a place in the sun'
'sue is a part time librarian, brian is a postman, they have a budget of £680,000'
how ?
I'm still off on holiday and hooked on Escape to the Country, Place in the Sun et al and I've been wondering the same thing.
One I saw the husband was a policeman, the wife had a little catering business and they were looking at million pound houses.
I did think how can they afford that?!! "
i think in many cases it is either old family money or that they maybe bought their last house before the boom and have made a pretty penny and hence can afford a decent deposit
i hope so anyway, or i'm off to become a postman and mrs bus can have that part time library job she's always wanted ! |
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By (user no longer on site)
over a year ago
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whooooo there!
poor lad never said he was thinking of buying he just wondered if anyone knew he may of just been curious as to what it would be for many reasons not just because he wanted to purchase somewhere
jeeeze you lot can't half jump quick
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By (user no longer on site)
over a year ago
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why why why ,pay that kind of monie for a house,and it does seem that you are being a little mmm how should we say it ,if you can aford that kind of morgage go the the bank or building socity that you save with |
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By (user no longer on site)
over a year ago
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"If you can afford a £600,000 house, you'd know better than seeking advice from a swinging forum
lol, think someone is boasting"
Or, more likely, full of crap! |
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By (user no longer on site)
over a year ago
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"If you can afford a £600,000 house, you'd know better than seeking advice from a swinging forum
lol, think someone is boasting
Or, more likely, full of crap!"
+1 |
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By (user no longer on site)
over a year ago
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"this is what always gets me about programmes like 'location, location' or 'a place in the sun'
'sue is a part time librarian, brian is a postman, they have a budget of £680,000'
how ?
I'm still off on holiday and hooked on Escape to the Country, Place in the Sun et al and I've been wondering the same thing.
One I saw the husband was a policeman, the wife had a little catering business and they were looking at million pound houses.
I did think how can they afford that?!!
depends met police sargent or above could be on 80,000+ a year"
Met Sergeants struggle to get above 40k. You'd need to be a superintendent to get near 80k |
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By *els_BellsWoman
over a year ago
with the moon n stars somewhere in gtr manc |
maybe he won the lottery or had money left to him.
Or maybe I'm really naive 
however, in your 20's why would you want a huge house? Surely theres better things to invest in? |
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This thread has really made me chuckle.....from the ridiculous initial post down to the one that suggests that Police Sergeants earn 80k a year.
To the Op.....I'd suggest Millets, they have some great tents in their New Years sale. |
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"whooooo there!
poor lad never said he was thinking of buying he just wondered if anyone knew he may of just been curious as to what it would be for many reasons not just because he wanted to purchase somewhere
jeeeze you lot can't half jump quick
"
That's what I thought. Doesn't have to be him buying it... I'm often curious about random shit. |
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By (user no longer on site)
over a year ago
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That's nothing, I'm looking to buy a bigger house around the £1.2m, so I can have a bigger garage for my 2 Daimlers.
Now who is interested in meeting me?
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By (user no longer on site)
over a year ago
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"whooooo there!
poor lad never said he was thinking of buying he just wondered if anyone knew he may of just been curious as to what it would be for many reasons not just because he wanted to purchase somewhere
jeeeze you lot can't half jump quick
That's what I thought. Doesn't have to be him buying it... I'm often curious about random shit."
me too its quite funny some of the stuff i google, like the other day i was going to look into how much to insure me on a ferrari just cause of a random conversation of how do peeps afford to run cars like that but then forgot all about it so might do that now
poor lad being jumped on like that for random thoughts bless him glad i rarely share mine now i'd feel very bruised |
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By (user no longer on site)
over a year ago
Forum Mod |
"whooooo there!
poor lad never said he was thinking of buying he just wondered if anyone knew he may of just been curious as to what it would be for many reasons not just because he wanted to purchase somewhere
jeeeze you lot can't half jump quick
"
Agreed,quite amazing how one question can lead to so many assumptions and bitchiness from people that only make themselves look ridiculous with their responses
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By (user no longer on site)
over a year ago
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"This thread has really made me chuckle.....from the ridiculous initial post down to the one that suggests that Police Sergeants earn 80k a year.
To the Op.....I'd suggest Millets, they have some great tents in their New Years sale."
quite true seeing as during the initail training to become a MET officer you start on 35k a year so not to hard to see why not??  |
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By (user no longer on site)
over a year ago
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Not being funny guys but you cant look at a persons age and then suggest he cannot afford a certain figure.
Would you guess a 30 yr old could bring in £3000 + a month? ... Now im not saying if i do or not but for some people who have that mind set to make things like that happen it is very very easy!
But i 100% agree that this question is being asked in the wrong place, So many genuine ways to find that info properly (Google, Your bank .. Even property websites) that to jump on a swingers website and ask is either to gain attention or to boast |
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By (user no longer on site)
over a year ago
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" that to jump on a swingers website and ask is either to gain attention or to boast "
or maybe simple curiosity
jeeeze seriously can you lot not just get that maybe he was simply wondering
are you only curious about things that effect you directly?
personally i find that odd but then maybe i just have a naturally curious nature although i would of thought that all swingers have a naturally curious nature as a default setting, guess i was wrong on that one then |
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By (user no longer on site)
over a year ago
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Im curious to know why its been asked here and if theres a hidden reason behind it, So yes im curious like all the above... Which i why comments are made?!?! |
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By (user no longer on site)
over a year ago
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"Im curious to know why its been asked here and if theres a hidden reason behind it, So yes im curious like all the above... Which i why comments are made?!?!"
well there ya go why cant the poor lad be quite simply curious as to what it would work out at
maybe he knows of a house that came up for sale locally to him for that price n he thought jeeeze bet thats gonna be one hell of a deposit i wonder
why do people always feel compelled to think it must be a bad reason for asking like boasting, it just seems a shame to me that almost everyone is becoming so cynical |
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By (user no longer on site)
over a year ago
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"This thread has really made me chuckle.....from the ridiculous initial post down to the one that suggests that Police Sergeants earn 80k a year.
To the Op.....I'd suggest Millets, they have some great tents in their New Years sale.
quite true seeing as during the initail training to become a MET officer you start on 35k a year so not to hard to see why not?? "
28k..not 35. where are you getting your figures from? |
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By (user no longer on site)
over a year ago
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"Im curious to know why its been asked here and if theres a hidden reason behind it, So yes im curious like all the above... Which i why comments are made?!?!
well there ya go why cant the poor lad be quite simply curious as to what it would work out at
maybe he knows of a house that came up for sale locally to him for that price n he thought jeeeze bet thats gonna be one hell of a deposit i wonder
why do people always feel compelled to think it must be a bad reason for asking like boasting, it just seems a shame to me that almost everyone is becoming so cynical"
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By (user no longer on site)
over a year ago
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Devils advocate here lol
Just supposing he has a good job and rich parents/ partner
Or has been left money?
Do I think he's daft posting this? Yes I do cause at the end of the day the guy has been ripped for it
But in my view if it's genuine I fa one wish him all the luck in the world wi it
Good on ya xx |
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By (user no longer on site)
over a year ago
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"whooooo there!
poor lad never said he was thinking of buying he just wondered if anyone knew he may of just been curious as to what it would be for many reasons not just because he wanted to purchase somewhere
jeeeze you lot can't half jump quick
"
Well said |
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By *els_BellsWoman
over a year ago
with the moon n stars somewhere in gtr manc |
"Devils advocate here lol
Just supposing he has a good job and rich parents/ partner
Or has been left money?
Do I think he's daft posting this? Yes I do cause at the end of the day the guy has been ripped for it
But in my view if it's genuine I fa one wish him all the luck in the world wi it
Good on ya xx "
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Wow who would of thought a simple question would have provoked suck response lol.
Thanks for all the genuine advice I am compleatly lost on the subject.
For those of you who must know 2011 was in someways a pretty shit year. All 4 of my grandparents passed away and my father is diagnosed with altsimers and has slowly been slipping away. He has dealt with all the family finance and now it has fallen to me to deal with. I thought I could rely on some decent advice but obviously the community are more intrested in taking the p**s out of a young guy.
Almost makes me sorry I asked!!! |
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By (user no longer on site)
over a year ago
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"Wow who would of thought a simple question would have provoked suck response lol.
Thanks for all the genuine advice I am compleatly lost on the subject.
For those of you who must know 2011 was in someways a pretty shit year. All 4 of my grandparents passed away and my father is diagnosed with altsimers and has slowly been slipping away. He has dealt with all the family finance and now it has fallen to me to deal with. I thought I could rely on some decent advice but obviously the community are more intrested in taking the p**s out of a young guy.
Almost makes me sorry I asked!!! "
I don't know what to say? I am so very sorry for your loss  and for your father too "hugs". I am afraid that sometimes people forget there are two sides to a story and I won't mention the other.
Firstly get yourself a good financial advisor, you can either go through yellow pages or use someone at your bank.
At the amount of money you have, you could either buy with a mortgage as it will give you some credit rating or find somewhere you really like, buy outright and invest any excess money perhaps using some to go on a nice holiday somewhere you have always wanted to go. Buy a nice car too if you want, the list is endless just remember wherever you buy, that you can afford the council tax and bills to go with an expensive house.
And good luck |
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By (user no longer on site)
over a year ago
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Personally I wouldn't go via your bank, they will either advertise their own or usually are tied to a list of a few providers that they can offer. You ideally need a financial advisor who deals with the whole of the market. Sorry for your losses, I hope 2012 gets better for you x |
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By (user no longer on site)
over a year ago
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"Wow who would of thought a simple question would have provoked suck response lol.
Thanks for all the genuine advice I am completely lost on the subject.
For those of you who must know 2011 was in someways a pretty shit year. All 4 of my grandparents passed away and my father is diagnosed with altsimers and has slowly been slipping away. He has dealt with all the family finance and now it has fallen to me to deal with. I thought I could rely on some decent advice but obviously the community are more intrested in taking the p**s out of a young guy.
Almost makes me sorry I asked!!! "
The best place to get financial advice is a financial adviser or financial type groups.
Bet you won't ask them where is the best place for a shag.
How is buying a house for £600k helping the people you mentioned with their finances? |
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"Wow who would of thought a simple question would have provoked suck response lol.
Thanks for all the genuine advice I am completely lost on the subject.
For those of you who must know 2011 was in someways a pretty shit year. All 4 of my grandparents passed away and my father is diagnosed with altsimers and has slowly been slipping away. He has dealt with all the family finance and now it has fallen to me to deal with. I thought I could rely on some decent advice but obviously the community are more intrested in taking the p**s out of a young guy.
Almost makes me sorry I asked!!!
The best place to get financial advice is a financial adviser or financial type groups.
Bet you won't ask them where is the best place for a shag.
How is buying a house for £600k helping the people you mentioned with their finances?"
Maybe he wants to buy his parents house?? who knows! |
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By (user no longer on site)
over a year ago
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Badcock69.5 bed Large Victorian semi.£345-0000.No dep Private Mortgage.New decor new carpet.Large garden.Garage for 6 cars.2 mile to the moors.Haworth just up the road.M62 15 min away.No time wasters please.Don |
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By (user no longer on site)
over a year ago
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"Badcock69.5 bed Large Victorian semi.£345-0000.No dep Private Mortgage.New decor new carpet.Large garden.Garage for 6 cars.2 mile to the moors.Haworth just up the road.M62 15 min away.No time wasters please.Don"
I've got 8 cars so I'll have to say that at this stage I must declare maself oot. |
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