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Mortgage query - during Coronavirus

  • 05-04-2020 8:48pm
    #1
    nobbysutton
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi,
    I am just in position to finally purchase a house. My job is secure in the current climate. Is this a bad time to be getting a mortgage loan? Not that I can afford to hold off, or I'll be retired and still paying it off. What type of mortgage is best? Any guidance in this matter during coronavirus times is welcome. Thanks


Comments

  • #2
    Oral Surgeon
    Registered Users, Registered Users 2 Posts: 3,240 ✭✭✭Oral Surgeon


    nobbysutton wrote: »
    Hi,
    I am just in position to finally purchase a house. My job is secure in the current climate. Is this a bad time to be getting a mortgage loan? Not that I can afford to hold off, or I'll be retired and still paying it off. What type of mortgage is best? Any guidance in this matter during coronavirus times is welcome. Thanks

    If the price is right and you are confident in your job and ability to pay and it's the house that you want in the area that you want then fire away I'd say.....

    People ran into trouble in the past because prices were inflated, they man-maths their ability to pay based on ever increasing and available credit and assumed that if the sh1t hit the fan they'd sell their apartment in Dubai for twice what they paid.....

    BTW, you won't be paying a mortgage into your retirment as they won't give you a term that runs past 65 (or there abouts)....


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