Mortgage advice please!

Might not be the best time to buy in terms of prices, depending where you are in the country.

In real terms the market is a long way from bottoming in my opinion.

Unemployment will keep rising next year, government will come under increasing pressure to raise interest rates, and there's a lot more economic s*** to hit the fan.

This is a time for selling not buying property.

Thanks for your help guys.

East London flat, went for 170k in 2006 has since been repossessed. Not new build, structurally sound.

Can provide income evidence.

It's a gamble I agree, I'm not entirely convinced that the market has bottomed out but it's a desirable area and the Olympics may keep this area stable at the least for a couple of years.

Would probably go fixed just because the benefit on tracker now isn't worth the risk IMHO.

mwal

e mail me at chris@your-mortgagecentre.com

Can you perhaps put an extra 2k down. If so I like Nationwide 2.74% Tracker with £495 fee. The Extra 5% deposit gets you a better rate than the 40k alone.

They will lend you 4.15% tmes your joint or single income and are generally a fair lender. If you do not fit Woolwich have a similar deal but with higher fee, but the tracker rate lasts for full term of the mortgage, which ensures you do not jump onto a high standard variable rate.. I REALLY DO NOT LIKE FIXED RATES AT THE MOMENT. Interest rates are ging nowhere for some time

mwal

Not too good to be true as rate is 2.64% with higher follow on than Woolwich. For the sake of .2% I would choose Woolwich. What is the arrangement fee?

You guessed correctly, Sir - any further comments on that?