First time buyers in Camberley. Stop renting as soon as possible…. Why?
Because your monthly payments on a mortgage could well be less.
There are some caveats to this and I cannot give you any actual advice here, because I do not know your particular financial position.
After all, mortgages are not a “One Size Fits All Solution”, we arrange mortgages only after a personal discussion to determine what I think would be best for your situation, followed by researching the whole of the mortgage market.
But Suren Thiru, who is a housing economist at Halifax, said earlier today “a marked decline in mortgage costs has improved affordability for those able to enter the market”
He said this because, there has been a fall in mortgage rates during the last 3 years, which means that the average three bedroom property costs £608 per month to buy, compared to £709, that you may pay in rent. But in March 2008, the same 3 bedroom property, would have cost £1,060 per month, compared to £761 to rent.
In 2008, the average rates were 5.28% compared to 3.59% today.
The only problem is the deposit, a minimum of 10%
Now who in your family can lend you 10% as an investment.
We provide many mortgage solutions, we may have one for you.
If you think we can help, give me a call.
Michael Usher,
The Friendliest Mortgage Adviser In Town.
