Our first home was a modern-style three-bedroom terrace in North London. We bought it in the days before competition revolutionised the mortgage market, when even saving for 10 years with your local society didn’t guarantee you a mortgage.
Having been let down by our local lender, Halifax agreed to provide most of the finance with the rest coming from an insurance company top-up loan. The main thing I remember about becoming a home owner was that interest rates were 10% when we first made an offer on the house, 12.5% when we exchanged contracts and 14% by the time we moved in.
We now live in a more traditional semi. and have recently converted the loft to provide extra bedrooms, financed through an offset mortgage with First Direct.
And naturally, we use Mortgage Express for our buy-to-let investment. Peter Charles, economist, Mortgage Express