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Mortgage - any tips?

geek grrrl Avatar
9y, 7m agoPosted 9 years, 7 months ago
hey, were looking to buy our first flat/house so we need a mortgage.
does anyone know of any good places to get one? or have any advice?
thanks in advance :)
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geek grrrl Avatar
9y, 7m agoPosted 9 years, 7 months ago
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#1
go and talk to a motgage adviser some company advisers are free. and good luck it will be so stressfull. We just brought a house and are going through it now.
#3
there are loads of mortgage companies out there. Have you got a deposit?
#4
Great Standard variable rate available here

http://www.ingdirect.co.uk/mortgages/our_mortgages/buying_home/flexible.asp

I am with Nationwide BS, may be worth looking at their fixed rate mortgage deals
#5
abbey are good aswell
#6
esims84
there are loads of mortgage companies out there. Have you got a deposit?

no :-(

just dont want to carry on renting when we can be living in our own place paying off our own mortgage
#7
geek grrrl
no :-(

just dont want to carry on renting when we can be living in our own place paying off our own mortgage



You need to save deposit or get a 100% mortgage which don't usually represent best value.
#8
what local estate agents do you have by you?
#9
have just gone with the Woolwich, BofE +0.18. I reckon it's a cracking deal. Wanted ING originally but they are quite strict with their loan amounts (max 4 x earnings) and the ING rate can increase at any point in time.
#10
Best 100% mortgage- try Portman BS
#11
with ing our maximum amount is: 105,000.00
abbey: £99,000.00 - if you have a deposit of 5%
£112,200.00 - if you have a deposit of 10%
£122,100.00 - if you have a deposit of 25%
#12
Become a squatter. :P
#13
northern rock might suit you.
#14
geek grrrl
with ing our maximum amount is: 105,000.00
abbey: £99,000.00 - if you have a deposit of 5%
£112,200.00 - if you have a deposit of 10%
£122,100.00 - if you have a deposit of 25%


Ing is by far the best standard variable rate mortgage on the market imo:thumbsup:
#15
Most of my friends and I seem to have ended up with Abbey Nat for a mortgage, but the best bet is to find an independant financial advisor and see what they recommend.

Our one was fantastic, but cost £250.00, if that's any good to give you an idea of fees?

Good luck & happy house-hunting!
#16
northern rock - You may be able to borrow up to £107,400

will be showing all these to david later, hes going to ring around tomorrow to get us some appointments with banks and such
#17
if you go into dixons or bairstow eves (If you got them by you) they dont charge you for advice
#18
homes in sheffield are so expensive!!
#19
yep they are by me, its really hard for 1st times buyers, we look at some right $&*t holes before we found the one we are having.
we had to have parking for two cars which made it even harder.
#20
Wouldn't waste my money on advise personally.

Charcol online can tell you anything someone will for cash :thumbsup:

Put the money saved towards your solicitors fees :)
#21
I didnt even think of solicitors fees, how much do they cost?
#22
col
Wouldn't waste my money on advise personally.

Charcol online can tell you anything someone will for cash :thumbsup:

Put the money saved towards your solicitors fees :)


i havent had to pay for mine, he gets his money from the mortgage companies and insurances.
#23
geek grrrl
I didnt even think of solicitors fees, how much do they cost?


for us it will be £1000.20
#24
its so confusing! im glad david is much smarter than me!
hopefully he'l be getting a raise this month, *fingers crossed*
#25
http://www.rightmove.co.uk/

save you looking through every estate agents websites
#26
esims84
http://www.rightmove.co.uk/

save you looking through every estate agents websites


just been on, its depressing me - think we'l be renting forever!!
#27
i know how you feel, we was lucky enough to get given a deposit.

have you throught about shared ownership?
we said no as we wanted to own the house outright
#28
yeah, we want to own the house, dont really see the point in getting a mortgage for OUR house if its shared. *sigh*
its going to be hard going from our gorgeous luxury flat to something...basic
#29
geek grrrl
homes in sheffield are so expensive!!

I'm sure you already have a good idea of local house prices but this is a good site to see what the recently sold prices were.:)
#30
no it is not fair for first time buyers, stupid money!! i was fortunate enough to buy mine when i was 19 and thought it was hard then, but i dont think it is compared to today,


so good luck, something will come up and the people above have posted some good sites for you, but it is an expensive time buying!! :thumbsup:
#31
palspal
I'm sure you already have a good idea of local house prices but this is a good site to see what the recently sold prices were.:)


thanks for that, looks like the most affordable places are crookes & barncliffe
just wish there was someway I could pull up all the houses for sale in those specific areas right now!

i do use rightmove, but some sites have places that arent on rightmove, our beloved spencers for example. this is so much hard work!
#32
It is hardwork but it will be worth it when you find the home you want.:)
Don't set your heart on a place until the contracts are signed.
A friend of ours has just been gazumpt just before the deal went through. "Ah, well", she said, "It was not to be." She was so disappointed but is still looking and wont give up.

Find a Property is good but few sites list all houses currently for sale.
#33
my advice is twofold.....1 use an independant financial advisor as any mortgage company can quickly bamboozle you with A.E.Rs etc....2 make sure that the financial advisor you use pre-approves you for the mortgage before you apply for it....therefore stopping you affecting your credit rating if you decline and more importantly it shows that hes not in it for big commision....i can pm with the details of one ive used for years if you want
#34
Check out The Sunday Times Money section. Usually has top x mortgages for fixed rates, trackers ect. Go for one with no redemption penalty otherwise you get tied in or have to pay alot to swap.
#35
I've been looking again for my friend and this site seems to have properties that are not listed on many other sites.
I wish you the best of luck in your search.:thumbsup:
#36
It might be worth buying a recent mortgage magazine - when I got my first mortgage I found it invaluable - I think the magazine was 'What Mortgage' but there's probably others on the market. The issue that I got compared the best mortgages for fixed/tracker/variable etc. (whether that is a monthly feature I'm not sure), and was written in quite a readable manner.

I also believe that some mortgage lenders offer more than 100% of a property value - designed to help first time buyers, but obviously there might be some nasty catches in there too so definitely worth doing lots and lots of research.
#37
another website that may help is http://www.moneymadeclear.fsa.gov.uk/
#38
Most mortgagae companies do special offers for first time buyers eg. free survey or legal fees.

HSBC and some others have a special deal at the moment for graduates as well.. don't know if that applies.

Northern Rock also do great deals for first time buyers wanting 100% mortgages.

If money might be a problem, I would consider fixing as more rises seem imminent.

Good luck!
#39
i would have a fixed rate mortgage if i was you.
banned#40
I bought my first house in January. I moved house for £40 with a van and a man + 4 friends. My surveyor was only £150 and my lawyers fees £700 - I'd recommend him to anyone.

I didnt pay any mortgage fees, and got a price garauntee on my mortgage from http://www.firstmortgage.co.uk. These guys made the whole thing a peice of cake and have every mortgage in the market. The advice they give you doesnt affect their commision from Mortgage Providers so the chat is impartial, and free!!! You can go to them, get advice, and then go direct if you should wish to do so.

I agree with others in this post - go with fixed rate, but most of all speak to a broker.

Jonny

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