First time buyers mortgage brokers advice

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Found 29th Mar
Hi and my girlfriend are looking to take the plunge into first house ownership, we have a decent deposit and all the extra costs covered, due to me saving for 8 years, as well are new to the house market, we thought we’d talk to a mortgage broker,

we are abit insure if shes actually actually going to help us get the cheapest deal.

Anyone ever ever used one? And could give any advice would be much appreciated
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London & Country Mortgages did a great job for me, never used one before but these guys got me a really good deal that wasnt on the highstreet
jase.21 h, 12 m ago

London & Country Mortgages did a great job for me, never used one before …London & Country Mortgages did a great job for me, never used one before but these guys got me a really good deal that wasnt on the highstreet


Went through L&C for my first Mortgage. Had no issues and found a lender that did not include childcare costs in their affordability calculations which got me a better rate.
Congrats on getting yourself in to a position where you're able to think about buying a property

I suppose its easy for me to say as i've had my mortgage for almost 10 years but mortgages are presented in such basic terms these days that you can work out what is a bad deal and what is a good deal based on your own personal circumstances.

Brokers can discuss this with you and you don't have to go with the first broker that gives you advice. We used a broker for our first mortgage and we didn't go with their offered mortgage but they provided us with plenty of advice so we felt confident enough to sort it out ourselves.

Obviously most (if not all?) brokers get their commission from the lender which might sway them but you know what works for you and what doesn't. They can however give you a head start by telling you which lenders are the most generous or not as strict with their lending eligibility.

Have you done your own eligibility checks with comparison sites etc just to give you a starting point?
magicjay198621 m ago

Congrats on getting yourself in to a position where you're able to think …Congrats on getting yourself in to a position where you're able to think about buying a property I suppose its easy for me to say as i've had my mortgage for almost 10 years but mortgages are presented in such basic terms these days that you can work out what is a bad deal and what is a good deal based on your own personal circumstances. Brokers can discuss this with you and you don't have to go with the first broker that gives you advice. We used a broker for our first mortgage and we didn't go with their offered mortgage but they provided us with plenty of advice so we felt confident enough to sort it out ourselves.Obviously most (if not all?) brokers get their commission from the lender which might sway them but you know what works for you and what doesn't. They can however give you a head start by telling you which lenders are the most generous or not as strict with their lending eligibility.Have you done your own eligibility checks with comparison sites etc just to give you a starting point?


We’ve done basic searches, we’ve decided to book appointments in a load of banks/building society’s and compare our own offers against what they’ve found for us
they can get better deals for you than the banks but obviously do your own research as well. also have a look at comparison tables.
The better the LTV the more options you will have. What area are you in?
ASongOfFireAndIce29th Mar

The better the LTV the more options you will have. What area are you in?


Cambridgeshire area, my job is based in the centre of cambridge so can’t be more than 30ish minute drive, wish I lived up north as houses are just so much more aff
Now is the best and easiest time to get the best mortgage deal you can because of the tinternet start reading up on the comparison sites, financial Best Buy tables. Have all the information to hand and decide if you want to speak to someone or not, if you do then just make sure you compare it with your homework and don’t believe the we have the best rates prove they do or don’t at the end of the day it’s your money you are paying.
If it’s you putting up the deposit or most of it look into buying as tennents in common. So if it does not work out you don’t lose out.

i personaly am not a fan or mortgage advisors\ financial advisors. They will only sell you a product they are making money from in way of commission ortake a payment from you. Good old research is as good an option.
Edited by: "Wadda" 29th Mar
xbaassassin41 m ago

Cambridgeshire area, my job is based in the centre of cambridge so can’t b …Cambridgeshire area, my job is based in the centre of cambridge so can’t be more than 30ish minute drive, wish I lived up north as houses are just so much more aff


The further north of Cambridge you go, the cheaper house prices will be, but you may have to contend with the A14, not a fun road. Early morning traffic is often at a standstill, and it can take an hour to go 15 miles.
It can take 30 mins to get from the edge of Cambridge into the centre due to congestion so you may have to make sacrifices somewhere.
Cambridge house prices are ridiculously high. Good luck in the search
+1 for L&C
Then run the numbers through Moneysupermarket.
Best of luck.
Try and get the shortest term you can reasonably afford otherwise most of the early years will be mainly interest.

I got mine over 15 years and it was tough at first but now think it was the best financial decision I ever made. Being mortgage free by the time I was 38 took so much pressure off household finances.
Edited by: "chocci" 30th Mar
Wadda19 h, 15 m ago

If it’s you putting up the deposit or most of it look into buying as t …If it’s you putting up the deposit or most of it look into buying as tennents in common. So if it does not work out you don’t lose out. i personaly am not a fan or mortgage advisors\ financial advisors. They will only sell you a product they are making money from in way of commission ortake a payment from you. Good old research is as good an option.


Agreed. Mortgages are pretty straightforward (they are just big loans basically) compared to pensions etc so it's easy to compare products between lenders. You should not need a broker who will have half an eye on his/her commission when finding you deals. You're on the right track by speaking direct to banks/building societies and you will get a better idea of what you can get/require. Try and find one that will enable you to overpay when you can which will help to reduce the mortgage term and you will need advice from the solicitor to protect your larger share of the property legally when purchasing.
I saw a mortgage broker (Contractor Mortgages) for mine, got as much info as possible, did my own research and went direct with Santander which was better than the broker offer. Santander were really competitive as they were trying to build their UK customer base at the time. So definitely do as much research as possible on your own, including approaching directly with lenders, as they are very competitive nowadays. Good luck.
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