Getting a mortgage to begin with was not easy for us. Although we were VERY lucky to get given a little bit of money to put towards our deposit it still wasn’t enough for the regular 10% and then fees on top. We were lucky in that we were able to do the Help to Buy scheme and only put 5% down on our house. I say lucky but we have had to struggle for over 2 years with a near £800 mortgage payment every month. Unfortunately, we had to do things this way or we wouldn’t have been able to buy for a very long time. House prices have gone up and we have a baby now. If we had still been saving to buy then I’m pretty sure Erin wouldn’t have happened.
Anyway, we have just come to the end of our original deal and have made a new deal! We stayed with Halifax for various reasons and we actually signed up for our new deal online. It was so easy. We put in our mortgage details and as we already had an account with them, they gave us 2 new deals to choose from there and then, based on nothing changing. I was so surprised to see that our mortgage had gone from a 95% LTV to only 71% LTV. That’s how much house prices have risen around here. Crazy!
Unfortunately we do have some debts and things that need paying off and have been struggling, especially with me being on maternity leave. However, we are now a whopping £200 a month better off due to our new deal so I can relax a little bit about going back to work for now. Obviously I do have to think about that eventually but not for a few more months.
We’ve only fixed in to our new deal for 2 years because it was a much better deal than fixing in for 5 years. I am so happy about how easy it was to remortgage with Halifax and also what deal we got. I’m so looking forward to another 2 years in this house!