Beau&Jodie
Registered User
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Hi All. I am currently in the process of a self build house. I will provide my options below.
I am taking the mortgage with EBS. I am approved for a 450k mortgage over 28 years. The mortgage below is what I was approved for but I can adjust the timeline at any stage on a fixed mortgage. The cashback is 3% but 2% in reality unless I end up with them for 5 years.
The big difference with me is I own a house that I plan to sell meaning this time next year I can probably wipe off 130-160k off the mortgage. I also hope to come in at less than 450k meaning I will have a 250-300k mortgage long term. I currently pay a 1k mortgage and also have the capacity to pay 2.5k second mortgage.
The fact I am self build means that between now and next April/May I will only be paying off what I draw down which will obviously increase over time.
Happy to answer any questions but currently variable seems like the sensible option.
I am taking the mortgage with EBS. I am approved for a 450k mortgage over 28 years. The mortgage below is what I was approved for but I can adjust the timeline at any stage on a fixed mortgage. The cashback is 3% but 2% in reality unless I end up with them for 5 years.
The big difference with me is I own a house that I plan to sell meaning this time next year I can probably wipe off 130-160k off the mortgage. I also hope to come in at less than 450k meaning I will have a 250-300k mortgage long term. I currently pay a 1k mortgage and also have the capacity to pay 2.5k second mortgage.
The fact I am self build means that between now and next April/May I will only be paying off what I draw down which will obviously increase over time.
Happy to answer any questions but currently variable seems like the sensible option.