I’m an older first-time buyer and I’m confused about how my payments will change over timeQ I’m an older first-time buyer and intend to get a mortgage on a property that is worth no more than £110,000. The mortgage period is 15 years and I have a 15% deposit.As I’m new to buying, I’m confused about fixed-term mortgages. Am I correct in thinking that, in theory, if I were to remortgage after a, say, two- to three-year fixed rate, the loan-to-value rate will have gone down, as I will have paid off some of my mortgage and the house presumably would have risen in value and therefore my mortgage payments would be a little less? RH Continue reading…
Source : theguardian.com
Read more…What happens if I remortgage two or three years into a fixed-rate deal?
