Mortgage Tables and First Time Buyer Help

barrybarryr

Hi,

My girlfriend and I are looking to buy our first house.

We have a £20k deposit and are looking at properties around £135k.

Are there any tables or calculators that show the best mortgages available for us?

I really dont know where to look or start.

Also is it worth me using a broker or going direct?

Thanks

Barry

happybroker

if you feel confident enough to go it on your own then why not do both, there are also brokers out there who will source direct deals for you but they will usually charge you a fee as these lenders pay no commision.

I think you will probably get half the people on here suggesting direct and half to use a broker......not much help I know.

The fsa publish tables on their website but they're not that straight forward to use as some rates are for existing clients.

Benefits of a good broker over a lender include hand holding if you're unsure, less likely to get stitched up on the insurances, access to some good deals on legal work and, perhaps most important of all, advice as opposed to the non advised route that many banks take.

barrybarryr

So there is no website that says this is the best mortgage for your situation or anything like that?

Berkshiregirl

No. A mortgage is the biggest financia commitment you'll make - take time to read all the guides, talk it through (ideally with a broker who knows what they're talking about). Investigate, read up and make an informed decision. Once you've decided on which type of product to go for you can use sites like Money Supermarket to compare rates, but ERCs and lending criteria vary so even then you're not on the home straight.

I'd honestly recommend seeing a Whole of Market Broker and taking some advice.