Whats the best deal

lordkit

Advise needed.

I have either a 15% £18k or 20% - 24k for a house vlaue of 120K.

I am looking for a fixed - repayment mortgage over 30 years.. Would anyone be able to help me out?

Ideally i would like to pay less, but something less then 4.7%.

Thanks for your help in advance.:D

VIGILANT22

lordkit;Advise needed.

CLUE............Mortgage Advisor

lordkit

Would anyone be able to recommend me to a good one?
Thanks,

dunstonh

Would anyone be able to recommend me to a good one?

one that is local to you and is independent and works on fee basis (with commission refund/offset). Or alternatively a fees free (if you dont mind not being whole of market) or very small fee given the small size of mortgage.

new_home_owner_3

Take a look here, the post office have some good deals.

http://www.postoffice.co.uk/portal/po/content2?catId=86700737&mediaId=102800763

Be very careful using a mortgage advisors, most of them will tend to recommend the one that they will gain the most comission from and not the best deal for yourself.

Also some bank/building societys will not always accept applications from advisors and you will need to appy direct, these are usually the better deals.

When you post in the mortgage section, you will find a lot of advisors on here who will not give any direction or help for you to source your own deal, its obvious really its how they put food on the table.

If you do see a advisor, make sure its a free one, then come back and post what they offered, im sure people who are willing to have a look will do and see if they can find a better deal, and im 99 percent sure they will.

new_home_owner_3

The main disadvantage of using a mortgage broker is that the “whole of market database” they search does not actually contain every mortgage deal that is currently on the market. Instead it contains all the mortgages that are made available to brokers.
The difference used to be minimal, but thanks to the credit crunch the mortgage market has changed dramatically over the last year. Unfortunately, some lenders are now keeping back their best deals from brokers and reserving them for customers who come to them direct, in order to avoid paying commission to a broker.
Some lenders do not operate through brokers at all, the main ones being HSBC (www.hsbc.co.uk), ING Direct and First Direct (www.firstdirect.com). Others, including Nationwide (www.nationwide.co.uk) and Halifax, don’t offer all their deals through brokers.
The deals these lenders offer direct can often be more competitive than those they offer through brokers. Obviously, this makes the process of finding a decent mortgage much more difficult than it used to be.

new_home_owner_3

Great article here about using mortgage advisors, its a bit old but i dont think its changed much, it says on here that out of the top 20 deals for a 2 year fixed rate, only 2 was accessable to mortgage brokers/advisors.

It also says some lenders add a percentage when you go through a broker/ advisor.

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article4004332.ece

Thrugelmir

If you want to pay less interest then opt for a shorter mortgage term.

Compare the amount of interest between 25 and 30 years......

getmore4less

lordkit wrote: »

Advise needed.

I have either a 15% £18k or 20% - 24k for a house vlaue of 120K.

I am looking for a fixed - repayment mortgage over 30 years.. Would anyone be able to help me out?

Ideally i would like to pay less, but something less then 4.7%.

Thanks for your help in advance.:D

How much money do you have max after costs.

Why do you think fixed - repayment 30y is what you need?

Why less than 4.7%

What are the details off your finances

income and debts would be a start.