Thursday, October 20, 2005

Not the best news

Went to the solicitor's at lunch to pay for the local authority search (£250) and get some new pages for my agreement for sale, to reflect the lower price.

During the chat, it transpired that the 25% loan to Barratt's becomes payable not after 10 years, but the next time I remortgage the property. As I opted for a two year term on my mortgage to start, I will owe close to £200,000 for the property (minus my £20,000 and whatever I pay off the principle of the mortgage - not much) in two years time. As it is, the bank's lending me close to my limit, so this DreamStart sounds like it could very easily turn into NightmareFollowup.

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