Advice for first time buyer.

eggheadnappa

Hi, I was hoping for some advice please.

I'm a first time buyer and purchasing a house with my girlfriend for 126k, we've managed to save 15% (18900) and got a 2 year fixed rate @ 6.19% APR with c&g. We managed to get the mortgage with a £99 fee hence the 6.19 APR being so high.

I've got a couple of question's I was hoping you could help me with.....

Firstly I've read a few thread's saying 2 year fixed deals are no good, can the same be said about our circumstance?

And secondly we've been approved for the mortgage and payed the £99 arrangement fee, would it be too late to change to a fixted fate, maybe with the same provider?

All advice welcomes and very appreciated!

TopKat*1

I would browse the net yourself, use comparison sites to look for good deals then go to the bank or building society website to check that the rates exist because my broker said 5.65% with c&g was best, yes best one that he could find that gave him commission. I found a 2 year fixed 4.99% with low fee

paul4788

Ive replied on this one already but the thread has been erased. Shepshed 2 yr fix @ 4.99% is a good bet. If your broker is any good he will still get commission on it. Also Alliance and Leics and Nationwide. Nationwide are particularly good as when the deal finishes they are good at switching to new rates.

The only down side is if you do move you'll lose the £99 admin fee if youve already paid it. Finally, C and G will also switch to other products without any fees.

Good luck

eggheadnappa

Really appreciate your advice guy's, but after alot of searching, i've not been able to find the rate's mentioned in your post's.

I've tried the shepshed but they're revising there product's so unable to give me any info.

I've also tried nationwide and A&L but the deal's dont seem to be very good for someone with only 15% to but down.

Is there anywhere else I could try?