# Mortgage first timers?



## PLuKE (Mar 4, 2009)

Afternoon

I'm after a mortgage we are first time buyers, is there anyone on the high street that you would recommend or any other lenders.

We have a small deposit. I have seen a few lenders advertising.

Thanks


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## empsburna (Apr 5, 2006)

I would speak to an independent mortgage advisor - they will give you a better idea of the market at the moment. I know a good one in Birmingham but I guess that is no good to you!


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## shane_ctr (Dec 17, 2006)

PLuKE said:


> Afternoon
> 
> I'm after a mortgage we are first time buyers, is there anyone on the high street that you would recommend or any other lenders.
> 
> ...


Now sending you a pm, :thumb:


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## Beancounter (Aug 31, 2006)

Take a look on Money Supermarket and John Charcoal sites before you go out and see what types of mortgages (rates and offers) are out there.

Use their mortgage calculators as well to see what you can afford, as this will more than likely be different to what you will be offered. Most banks (Woolwich and Natwest for instance) have mortgage calculators on their websites too.

As it's your first time, when you understand what you can get, get an appointment with a local INDEPENDANT financial advisor (most estate agents will be able to put you in touch with a decent one) and see what they have to say.

Doing it this way means you should have a productive first meeting and understand what they are able to offer rather than listening THEN doing your research.

Once you've had a few mortgages I wouldn't bother with an IFA. I generally just search for the best offers online and apply that way, but until you understand the process and whats required I think and IFA is the way to go.

Good luck

(PS - I'm not an IFA in case anyone wonders  )


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## djgregory (Apr 2, 2013)

IFA, we did for our first mortgage, im 21 and the mrs is 19, he explained everything we needed to know.

I had previously done my homework so new what was what anyway, i let him do all the talking, he got copies of everything he needed then everything else was dealt with through appointments/e-mails/phone calls.

Was a very easy transaction and would definitely go back to him.


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## S63 (Jan 5, 2007)

Being deeply cynical of the industry I dont find independent advisors as independent as I'd like them to be. Do as much research of your own as possible and if you are quick you may get onboard one of the newly launched 95% products.
Good luck.:thumb:


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## PaulN (Jan 17, 2008)

Start with your own bank get some figures then shop around.


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## Millzer (Jan 24, 2012)

As previously stated: use an IFA, they're really helpful and mine was happy to answer any questions I had etc, he sorted all the legal stuff out and pretty much held our hands throughout the whole process. 

Also because they work in a large network, they are often aware of deals that might not be obvious (through the normal channels) to the standard buyer, and they will also have their preferred suppliers so they may be able to sort out a deal for solicitors etc.

Also be aware that most costs of setting up/sorting the mortgage can’t be added to the actual mortgage i.e. if the fees are £10,000 and you need to borrow £100,000 for the property you can’t go to the bank and ask for £110,000, you need to have the £10,000 ready to pay. (just an example, your fees may differ  )

Saying that, in our case we had to pay some fees upfront and some on completion, so we could split it up a bit over a couple of months. 

Good luck, it’s scary to start but as long as you have gone through your maths properly, you’ll be fine!


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## Beancounter (Aug 31, 2006)

On solicitors.....from personal experience....go for someone good LOCALLY........someone you can go and see if you need to urgently. Seems these 'centrally operated' convayancy firms are all the rage, great until something goes wrong and you want to speak to someone.


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## Millzer (Jan 24, 2012)

Beancounter said:


> On solicitors.....from personal experience....go for someone good LOCALLY........someone you can go and see if you need to urgently. Seems these 'centrally operated' convayancy firms are all the rage, great until something goes wrong and you want to speak to someone.


Oooh yeah forgot that one, DEFO GO LOCAL.
I had to change some details and then re-sign some stuff by a deadline, would have been SOOOOOO much easier if I could have taken the morning off and gone to their office.


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## alan hanson (May 21, 2008)

i wouldnt either take the full amount they say you can have, they work it out and offered us some obscene total which we could never pay back. do as much research and costings as you can before


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