Right apologies for the lengthy post…
My partner and I have had an offer accepted on a property last week for £210k. We have a deposit LTV of 27%.
We have been dealing with L&C up until now, who gave us a decision in principle, however, the mortgages that have been suggested are not especially competitive. Their suggestion is fixing with Halifax for 3 years. I’m wondering if we would be better off with a tracker for this term. We would prefer fixing for 5 years, which they do not offer without considerable arrangement fee (1.5k+)
We have seen a Yorkshire Building Society offer for 5 yr fixed, 3.69% with 1k arrangement, £780pcm which would suit us. Combined take home is 2.9k per month. No loans. £3k CC.
However, the spanner in the works is that we have a couple of later payments for CC dating back to 2010-2009. No missed payments. Our equifax/experian reports are good/good for me good/fair for my partner.
We are a bit nervous about going direct to YBS in case we don’t get the best impartial advice about our chances. It might be a bit late to see a mortgage advisor as the vendor wants to move quickly and the EA is on our case to be taking action.
So, any thoughts and advice? Anyone have any experience of how Halifax compare to YBS?
A crystal ball would be nice right about now. Cheers!