Having put down a booking deposit for an AH unit, I now have to secure a Mortgage with one of the four providers – EBS, IIB, BOI and First Active. I’ve had quotes from all of them. I’ve been advised as a young first-time buyer at the beginning of my career to go with a fixed-rate term. I’m quite keen to select a Lender within the next few days as I'm the contract exchange point of the transaction.
It seems to me that I should select the Lender that has quoted me the lowest percentage fixed-rate i.e. 2 years @ 4.89% – but perhaps I am oversimplifying things. The next best quotes I have received are 4.99% for a 3 or 5 year term.
I’d be grateful for any observations/ analysis based on your experience of the AH mortgage process.
Thanks
It seems to me that I should select the Lender that has quoted me the lowest percentage fixed-rate i.e. 2 years @ 4.89% – but perhaps I am oversimplifying things. The next best quotes I have received are 4.99% for a 3 or 5 year term.
I’d be grateful for any observations/ analysis based on your experience of the AH mortgage process.
Thanks