Where to start with our first mortgage?

Dinah93

We are first time buyers looking for our first morgage. We have a deposit of £28,000, and we are currently waiting for a response to our offer on a house. I earn £27,800 a year, and my fiance earns £14,000. We hope to secure the house for between £105,000-£120,000 otherwise we'll be walking away from this house and looking for something else.

Where do we go about looking for a mortgage broker, and what would be a good deal for us? We were thinking of a 5 year fix, to have the stability of a known payment.

We don't have a staggering credit record, as my OH just moved from Ireland a year ago, so has very little record at all, while I am taking a bank to the Ombudsman over one of their policies which gave me 4 months arrears on my credit record 2 years ago, despite having the full amount owing ready to give them.

Thanks for reading x

happybroker

Friends and family would be as good a place as any to start trying to find a good broker, personal recommendation is as good as you can get really.

Re what's the best deal for you, there is a bit more to it than that really and a broker would want to go through your circumsatances in more detail as well as get a handle on your feelings about budget stability etc. Make sure you have a copy of your credit file to hand when you do see a broker though, it could save you a whole load of messing around.

Dinah93

Thanks for that, I'll make sure I get credit files done for us before we go. Is there anything else we should take with us?

TrickyDicky

Also remember not all morgages are available through brokers, HSBC for one. You'll have to check them out via their web page.

happybroker

Dinah93 wrote: »

Thanks for that, I'll make sure I get credit files done for us before we go. Is there anything else we should take with us?

take passports, drivers licences, bank statements, payslips and p60's.....just about everytnhing you think might be of use. Personally I would much rather have more than I need than not enough.

good luck with it!