What type of mortgage have you got?

[JC]

nicely done Nige,  i got all this to come 

[bobbarley]

Thanks Chuff, we went and paid it earlier.  Took another look around the house and noticed lots of little things we will be getting the builders to tweak before we move in, nothing major.

Next, solicitor! 

Btw, I checked and I can get fibre optic broadband, thank god!  Mmmm 40mbps 

[kittie]

I bought (first time) back in 2008 I think it was. Everyone we spoke to tried to push us into a fixed rate deal but I knew better, it was obvious to me that rates were going to plummet and wow did they. Thank god I ignored them and went for a tracker. I knew it would work out well for me but I'm amazed at how well and for how long! Saved SO much money.

However, if I were to be starting a new mortgage now I wouldn't be so sure. I'd probably be looking for a decent fixed rate at this time.

[Jonnys07]

I moved into my first house a couple of months ago. I'm on a Tracker mortgage and was going to over pay monthly but instead opted for a shorter term.

Current repayment is well over £800, so will be fixing should the interest rates go up too much.

[bobbarley]

Well I put down my £200 reservation fee on Friday, appointed a solicitor today.  Off to see the mortgage advisor on Saturday to get paperwork sorted on a few things, going well so far.  We had no choice but to give notice on our rented accommodation today, so there's no going back now.

We get the house or we're homeless 

[T_J_G]

That's a brave move! Is it a months notice?

Ask your solicitor how swift your mortgage company are working currently. They should know, as they may have dealt with them before.

[bobbarley]

We've got to hand the keys in on 26th November.  Contracts have to be exchanged on the house by 2nd November, so it's a fairly safe calculated risk.  If the house deal falls through we'll have 3 weeks to find a new rental.

We originally needed to give 2 months notice, we don't remember spotting it in the lease when we signed it.  Got them to do it when our lease expires though instead.

[T_J_G]

Hope it's a straight forward transaction then, unlike ours 

[bobbarley]

What happened mate?

[Dave_IOW]

It took me 3 months to move in AFTER the solicitors did their bit.

I'm on a tracker with 102k left to go... If it goes up by even 2%, I'm going to be f**ked