Mortgages.... Looking for ny first

[BrewDan]

Had a meeting with a broker the estate agents use, made me laugh as he asked what deposit I had and what I was looking to do. Completely ignored what I had said and told me about products that required thousands more in a deposit , haha .

Anyway missed out on what seemed like a nice house, quite old, 3 huge double bedrooms....best bit was it had a cellar!!! And it was up for next to nothing, went within 2 weeks to an investor though...doh!

It looks as though most of the bargains have gone now, can only assume it's to do with stamp duty for first time buyers being reintroduced again 25th of next month. I have a few viewings booked, but it looks like I will have to save more now to account for the extra stamp duty fees:evil::-x

 

[Dronfieldbrewer]

I'll chip in a few words. I am a mortgage advisor with over 25yrs experience

Watch for overborrowing. when you see the costs of a mortgage make sure you can afford the whole house bills too (leccy bills, Council tax etc).

Be careful if you see banks, they will try to credit score you there and then, lots of these credit scores can affect your ability to borrow. If you can get below 85% lending you will get the better rates.

Its difficult to compare insurances, they all have different options some of which will be more applicable to you than others. (this is where the mortgage broker will help).

If you see the estate agents mortgage advisor, always go to a different estate agent too to compare, that way you will see if they are trying it on as they should come out with similar recommendations.

moneysupermarket.com etc take your data and sell it to mortgage advisors, if you want to be bothered with phonecalls from call centre based advisors then feel free to fill in the forms.

Best of all take advice from those you trust, people with no axe to grind

 

[BrewDan]

Thank you for the advice, we have seen a few different people now, brokers the estate agents used were not really that helpful...in fact one did not even listen to what I said I could afford to put down as a deposit.

Have not been direct to any banks, probably going to go with one a friend uses, he did seem to listen to what was said and even offered to help talk to the estate agents about price etc.

Shall see what happens , still have a few viewings , but all is looking ok at the moment :grin: