ftb mortgage

baz01

hi, i have good salary and good credit rating, my partner is self employed with only one years worth of accounts.

i have currently only been to one mortgage broker, who offered only two mortgages to me and my partner.


one fixed and one tracker.
house price £150,000

so

£135,000 with 10% deposit

fixed - 6.99% £903.89 per month fee £999.
Tracker - 4.29% above BOE Base rate so 4.79%. £712.72 per month fee £999.

are these good deals?

i was looking into the Tracker as my preferred choice.


also is it worth trying different brokers?? or in our circumstance is this our limit??

the mortgage broker was whole of market.


thanks

herbiesjp

baz01 wrote: »

so

£135,000 with 10% deposit

fixed - 6.99% £903.89 per month fee £999.
Tracker - 4.29% above BOE Base rate so 4.79%. £712.72 per month fee £999.

are these good deals?


thanks

What is your gross annual salary?
What is your partners NET profit from last year?

How long are you tied in on each of the above schemes i.e. are they both a 2 year fixed rate and a 2 year tracker rate?

baz01

sorry..

Fixed - 5 years
Tracker - 2 years



gross salary - £32500
partner - not sure pays herself £300 in the bank every week.

herbiesjp

You could get this agreed just using your own income then, but with your partner still on the mortgage.

There could be other options, say 4 year fixed lower than that, but it would depend on how they view your partner and how they would match their criteria.

baz01

thanks for the advice.


so you recommend trying a few different brokers then??

herbiesjp

Worth a go, as long as they do not do any credit searches.

baz01

what do you call a credit search by the way??

is that to get provisionally accepted, or fully blown agreed?