Mortgage minefield..?

simonlovejoy

I've been waiting since before 2002 to dive in to the market, now of course it seems as though there isn't a mortgage broker around willing to actually part with one...!

Could anyone make any recommendations as to a decent broker that it might be worth talking to right now as a first time buyer? I was hoping previously to head to Bradford and Bingley but not really an option any more... I'm only hoping to spend around 130k with a 10% deposit but most of the agents that i have spoken to in the last month seem to balk even at these figures. I know there are a couple of brokers around right now who do offer mortgages which would allow me to put down the 10% minimum, but can't seem to actually find them!!

Any advice or direction towards good reading would be hugely appreciated... i don't want to leave it too late to buy like i did six years ago!

koexelek

simonlovejoy wrote: »

I've been waiting since before 2002 to dive in to the market, now of course it seems as though there isn't a mortgage broker around willing to actually part with one...!

us brokers would happily give you a mortgage... it's the banks and building societies who don't want to lend :cool:

Met_Bobby

90% mortgages are available but there are other factors such as afforadability, employment stability, credit ratings that the lenders take into account.

herbiesjp

Yep

It is not the brokers that pull the strings- it is the lenders

There are 90% mortgage out there

You would have to be happy with the affordability and the higher rates, but you should be able to find something as long as you fit the criteria

Do you have any other debts? Any bad credit history?

ixwood

You're been waiting for 7 years and saved less than 2k a year for it?

I thnk this might prove the "buying a house is enforced saving of money that otherwise gets frittered" theory.

simonlovejoy

I wouldn't assume that i have saved £2000 a year over the last seven years.

That is just the deposit that i am willing and financially comfortable investing at this point in time.

Besides which - you're saying that saving less than £2000 a year is a bad thing, then?