builders mortgage

LoadingFavourite

This topic contains 3 replies, has 3 voices, and was last updated by Profile photo of mariadecastro mariadecastro 10 years, 1 month ago.

  • Author
    Posts
  • #52378
    Profile photo of Anonymous
    Anonymous
    Participant

    Does anyone have any experience in obtaining a builders mortgage, i.e. How difficult is it? is it cheaper? I have been told that I will not incur charges if I decide to go down this route instead of a bank. 😕

  • #66920
    Profile photo of Anonymous
    Anonymous
    Participant

    Henn

    It can be cheaper, but depends on the terms of the mortgage, interest rates, redemption costs etc, etc. If the mortgage on offer is suitable for you the savings would be that you have reduced or no opening commisions which can be as much as 1-1.5% of the mortgage value. However there are some good deals available from the banks currently so shop around and make a balanced decission on whether to take over the builders mortgage.

    Regards

    Jim

  • #66928
    Profile photo of mariadecastro
    mariadecastro
    Participant

    You are not liable of paying any king of charge (cancellation fee) if you decide not to subrogate the developer´s mortgage. Choose the most convinient for you.

  • #66929
    Profile photo of mariadecastro
    mariadecastro
    Participant

    kind not king 😉

    Have a good weekend!! under the spanish plain rain.

    Maria

You must be logged in to reply to this topic.