finance1233
Registered User
- Messages
- 23
what would you do sarenco?At a time of zero inflation, I wouldn't borrow from anybody @5.05%. Full stop.
thanks bronte/creme eggWhat do you mean you can afford the rate for two years, what happens then if interest rates rise. Are the banks not stress testing you. Are you not looking at this yourself.
What is your income?
Can you do a proper rental calculation as Cremeegg asked you. We would like to know if you understand what you are getting into.
do you see any issue taking the pepper mortgage now
and switching it in 2 years time to a product at 3.5%?
i got the 5% on the 80k off ptsb's website where they explain negative equity trade ups. if that was lower
it would be great.
Thank you very much for the advice. I've managed to gather a bit more money together 100k. And I plan to approach ptsb in January about negative equity switcher.Yes, there are a lot of issues. You will still have a buy to let mortgage, so other lenders may not lend to you.
You will have two big mortgages in the next two years, and you may well go into default again.
You should not plan things on the assumption that you will be able to switch.
I wasn't aware that it was so high, but it probably makes sense given that it's a rate for a NE mortgage.
It takes the shine off the tracker rate. Not a huge issue for you as you are not borrowing much.
Brendan
Do you think the bank will look at this given I got in to trouble with them in the past?
Thanks BrendanIt's unlikely that ptsb will give you a tracker switcher if you were in arrears.
However, if the arrears were solely due to the loss of the tracker rate,then you would have a good chance.
But the only way to find out is to ask.
Brendan
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?