First-time Buyer Mortgage

Rachael_235

Hi there,

I wonder if anyone can help me. Me and my partner are FTB and are looking for a mortgage. We currently have a 10% deposit and the house we like is £100,000. Is there anything out there for us?

If anyone can help, thank you.

Rachael.

feisty1

As you are FTB's and unsure of the process, consult an adviser and ask them to take you through the whole process.........It is so important for you to get an understanding of what mortgages are all about, pls don't rely on "info" from others as we all have opinions...Go to an adviser and get the facts...goof luck and hope you find somewhere soon

Peelerfart

Rachael,

There are many professional mortgage advisors and financial advisors who,it seems to me,live on here.

I'm sure you'll get some advice from one of them.

Good luck

paulpett

If you need help finding an adviser - i've got one that i can recommend

If you want the details send me a PM

feisty1

Peelerfart wrote: »

Rachael, There are many professional mortgage advisors and financial advisors who,it seems to me,live on here.I'm sure you'll get some advice from one of them. Good luck

NO YOU WON'T GET ADVICE ON HERE U WILL GET OPINION
I COULD TELL U I WAS A BRAIN SURGEON & YOU WOULDNT KNOW ANY DIFFERENT...

I AM A ADVISER & THAT IS WHY I AM SUGGESTING SEE ONE
Your mortgage will probably be the biggest financial commitment you ever make so respect & value it..Ask friends or family if they can recommend an advisor they have used in the past & been happy with

herbiesjp

Rachael_235 wrote: »

Hi there,

I wonder if anyone can help me. Me and my partner are FTB and are looking for a mortgage. We currently have a 10% deposit and the house we like is £100,000. Is there anything out there for us?

If anyone can help, thank you.

Rachael.

Your choices will be limited, as these deals are getting fewer and far between

Assuming your income, credit history, and other debts are all ok, then you will be able to get a mortgage - just not at the lowest rates

Rachael_235

herbiesjp wrote: »

Your choices will be limited, as these deals are getting fewer and far between

Assuming your income, credit history, and other debts are all ok, then you will be able to get a mortgage - just not at the lowest rates

I am self-employed with 4 years accounts and my partner is an electrician. We have good credit history and only have 1 credit card with £600 on. Do you have a web-site or an e-mail to contact on?

neverdespairgirl

feisty1 wrote: »

I COULD TELL U I WAS A BRAIN SURGEON & YOU WOULDNT KNOW ANY DIFFERENT...

Actually, given that sentence, the OP would have a fair chance of guessing you were not.....

straddie

feisty1 wrote: »

I AM A ADVISER

How come you haven't got the required signature then?

getmore4less

feisty1 wrote: »

As you are FTB's and unsure of the process, consult an adviser and ask them to take you through the whole process.........It is so important for you to get an understanding of what mortgages are all about, pls don't rely on "info" from others as we all have opinions...Go to an adviser and get the facts...goof luck and hope you find somewhere soon

I think the best people to talk to about the proces are your parent and friend/work mates who have done it. Forums are great for gettting a lot of options/advise from loads of people with no hiden adjenda.

An advisor may be able to help finding a better product if you are borderline on some of the main criteria, but given the number of people that have been oversold it is unlikely that an advisor will include don't buy now wait as one of the options.

The 10% deposit may no longer be enough definately won't secure the good rates.

What sort of incomes do you have? £30k+ would help.

Have a good analysis of the local market prices are not going up anytime soon so as long as ther are no other compelling reasons to buy hang on keep saving and look for a better deal.

You are not looking at shared ownership this is this 100k a full purchase?

If the flats rent for less than £500pm renting is cheaper, given the other costs of owning rent up to £600 coud be cheaper

wymondham

tfsdeth wrote: »

I think there is no longer a market for us first time buyers.
House prices these days are bloody shocking, i earn a good 35k a year and i still cant afford to get the property i want and pay the mortgage alone, the monthly payments are just to high, i wouldnt have any money left over each month to pay for things like the car, bills, phone, food & shopping etc etc at all. I wouldnt be able to enjoy life, i dont want to have to worry about not spending my hard earned money freely how I want. Im only 22 i know but i want to move out and actually have my own indipendance and enjoy my life. Something NEEDS to be done about property prices desprately, estate agents are becoming stupidly greedy and their pricing us presious first time buyers out of the market completely. I dont want to rent because its not smart investment, i want a place that i can call my own.

Its just not going to happen is it.

Don't despair! ... things are correcting themselves at an increasing rate, and you'll be able to buy before too long I suspect! Sit tight, save and you'll be laughing!