First time buyer- Mortgage advice
Discussion
mpm1987 said:
Hi all.
Looking into buying my first place within the next few months hopefully.
I was wondering whether anyone had any good experiences with certain companies, and could put them forward?
Thanks.
We are independant brokers, drop me a PM/Email, I'd be happy to help if required. Looking into buying my first place within the next few months hopefully.
I was wondering whether anyone had any good experiences with certain companies, and could put them forward?
Thanks.
Currently buying as a FTB, process almost done and can recommend First Direct.
They had the best rate, so although I met their lending criteria was worried that might get turned down as borrowing close to the max they said on their online calculator. However, they have agreed following a detailed reviewed of payslips and bank statements.
Most impressive for me is that I have spoken to someone withing 10 seconds of calling everytime, and received text message updates thoughtout the process. I have had to switch my current account to them as a condition of the mortgage, but based on my experience so far with their customer service this isn't a problem.
They had the best rate, so although I met their lending criteria was worried that might get turned down as borrowing close to the max they said on their online calculator. However, they have agreed following a detailed reviewed of payslips and bank statements.
Most impressive for me is that I have spoken to someone withing 10 seconds of calling everytime, and received text message updates thoughtout the process. I have had to switch my current account to them as a condition of the mortgage, but based on my experience so far with their customer service this isn't a problem.
At 25 I used a price comparison site for my mortage. No broker's fees and no hassle. First Direct came out the best by a country mile, with the stipulation that your current account is with them also. No problem really, and they have thee best customer service for a bank I have ever come across. I was fortunate enough to get a lifetime tracker with no ERC (should the rates go sky high) just before the recession hit!
I'm 29 now btw and currently making overpayments to the mortgage whilst the rates/payments are relatively low.
I'm 29 now btw and currently making overpayments to the mortgage whilst the rates/payments are relatively low.
simonej said:
Just in the process of sorting a mortgage myself. Trying to go with the Post Office who are doing 3.99% 5 year fixed with a deposit between 20%-25%. Best one I could find, although I didn't bother using a broker; just the price comparison websites.
if you have 25pc I would want to be paying closer to 3pc than 4pc to be honest. I would also not get a 5 years deal, you are locking in and paying a premium - if rates do go up its likely that they will only do so by .5pc or 1pc (although who knows for sure).
Look at the yorkshire building society - I have just got a deal at 3pc fixed for 3 years with 500 quid fees in total (195 app and 300 booking) at 75pc LTV..
Hi,
I bank with FD but wouldn't use them for a mortgage or indeed any of the HSBC group.
A good broker is worth their weight in gold. They all talk the talk, it's getting the guarantees from them when you see them waver. I can recommend someone if you want to speak to them.
I've just got a Buy to Let at 4.8% with fees and in middle of a residential at 4.5% with no fees and a little bit of cashback.
I am 100% confitent in the abilites of the broker to progress this quickly and keep me updated at every step.
I bank with FD but wouldn't use them for a mortgage or indeed any of the HSBC group.
A good broker is worth their weight in gold. They all talk the talk, it's getting the guarantees from them when you see them waver. I can recommend someone if you want to speak to them.
I've just got a Buy to Let at 4.8% with fees and in middle of a residential at 4.5% with no fees and a little bit of cashback.
I am 100% confitent in the abilites of the broker to progress this quickly and keep me updated at every step.
Rick101 said:
Hi,
I bank with FD but wouldn't use them for a mortgage or indeed any of the HSBC group.
A good broker is worth their weight in gold. They all talk the talk, it's getting the guarantees from them when you see them waver. I can recommend someone if you want to speak to them.
I've just got a Buy to Let at 4.8% with fees and in middle of a residential at 4.5% with no fees and a little bit of cashback.
I am 100% confitent in the abilites of the broker to progress this quickly and keep me updated at every step.
Why notI bank with FD but wouldn't use them for a mortgage or indeed any of the HSBC group.
A good broker is worth their weight in gold. They all talk the talk, it's getting the guarantees from them when you see them waver. I can recommend someone if you want to speak to them.
I've just got a Buy to Let at 4.8% with fees and in middle of a residential at 4.5% with no fees and a little bit of cashback.
I am 100% confitent in the abilites of the broker to progress this quickly and keep me updated at every step.
HSBC group have notoriously tight lending criteria. They have great rates but will only lend to a select few.
I've been with then for near 20 years and am a 'good' customer on a good salary.
Most they would offer was £70K as i have other properties.
Went elsewhere and was offered £260K.
Don't get me wrong, if you can get a deal with them go for it, but just be aware they make a ducks arse look baggy.
I hear Santander are going the same way in refusing to lend.
I've been with then for near 20 years and am a 'good' customer on a good salary.
Most they would offer was £70K as i have other properties.
Went elsewhere and was offered £260K.
Don't get me wrong, if you can get a deal with them go for it, but just be aware they make a ducks arse look baggy.
I hear Santander are going the same way in refusing to lend.
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