Buying A House

Jon Mack · Jan 7, 2005

Originally posted by princess jane
Northern Rock do a Together Mortgage, where you can borrow up to 130% or 125% of the value of the property. This is made up of a secured loan of 95% max and a unsescured loan making up the rest.

You can draw down money from the unsec loan to pay off debts and what not, and you only pay for the money you are using, so to speak. Rates are higher because of the increased risk to the lender but v popular with first time buyers.

SO IF YOU DIDN'T KNOW, NOW YOU KNOW
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many thanks, thats looks like the kinda thing I need

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Buying A House

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