Mortgage question...

Athlete

I'm going to look at a house later. Its on the market for £115,000, hopefully if I like it they might drop the price by a bit.
Anyway I have saved up £70,000 which I am going to use as a deposit, if I cannot get them to drop the price and I have to pay asking price I will need a mortgage of £45,000.

Some info about me....I am 37 and a ftb, I'm single and I currently get paid pm £1,800. I would like to pay the mortgage asap looking at 8-10 years, so does anyone have any ideas what mortgage rate % I would be looking at, which is the best lender etc

Thanks for any replies:beer:

Milliewilly

Athlete wrote: »

I'm going to look at a house later. Its on the market for £115,000, hopefully if I like it they might drop the price by a bit.
Anyway I have saved up £70,000 which I am going to use as a deposit, if I cannot get them to drop the price and I have to pay asking price I will need a mortgage of £45,000.

Some info about me....I am 37 and a ftb, I'm single and I currently get paid pm £1,800. I would like to pay the mortgage asap looking at 8-10 years, so does anyone have any ideas what mortgage rate % I would be looking at, which is the best lender etc

Thanks for any replies:beer:

Speak to an independant financial advisor - you should be able to get the best deal going with a LTV like that and only a couple of times your salary.

noo66

Athlete wrote: »

I'm going to look at a house later. Its on the market for £115,000, hopefully if I like it they might drop the price by a bit.
Anyway I have saved up £70,000 which I am going to use as a deposit, if I cannot get them to drop the price and I have to pay asking price I will need a mortgage of £45,000.

Some info about me....I am 37 and a ftb, I'm single and I currently get paid pm £1,800. I would like to pay the mortgage asap looking at 8-10 years, so does anyone have any ideas what mortgage rate % I would be looking at, which is the best lender etc

Thanks for any replies:beer:

Some lender's websites have mortgage calculators. I have an offer from HSBC which came out exactly as I calculated using the calculator on their site. Try a few sites and it might just give you some starting points. If using a broker I think it's best to go for a whole of market broker, and often not one attached to an EA.

pie81

You need to speak to an independent whole of market mortgage broker who can find the best deals for your position. Try London & Country who I've found good in the past. However also check lenders' websites direct as sometimes they have even better deals not available through brokers.

Fire_Fox

You really should get a mortgage agreed in principle before you bother viewing and offering on properties. The attraction on an FTB is that you are in a position to proceed, so be in a position to proceed! Also get quotes from a couple of recommended conveyancing solicitors, you will need to name one when you have your offer accepted.