where to start?

ieimimiai

Hi all, i have been reading lots of information on this site and feel i may have overloaded/confused myself! Me and my partner are looking to buy our first home soon, we have a deposit and money towards fees, although unsure of the max amount we would need to make sure fees are covered and when these would need to be payed within the process of buyng. also unsure of where to start, am i right in thinking that its best to start off by visiting a broker? if so will they be able to advise us about the type of mortgage that would be best for us? trying to get my head around things so i have more understanding for when we start the process and so dont get confused and make mistakes!!

sophievenusdoom

Hi there,

I was in the exact same position as you about 6 weeks ago. We have now found a house, been accepted by the mortgage lender, and things are being processed by the sols.

Basically, I would always advise to use an IFA or mortgage adviser. They can find you the best deals, and will chase the mortgage lender/sols etc. Also, generally speaking, the mortgage lender (and any insurance company that you might need to take out cover with) will pay the IFA, so they don't cost you a penny.

The first thing we had to pay out for was surveyors fees. This was once we had found our house and had the offer accepted. These are usually in the region of £300. Once the mortgage has been accepted, your IFA will then put you in touch with a sols who outright you need to pay £250 for. If you are lucky, you might be able to redeem some of these costs from the mortgage lender. Regarding the arragement fee's for the mortgage - you can ask for these to be included in the loan.

Hope this helps :-)

ieimimiai

hi thanks, i think this does help as you have kinda made it all sound a bit less complicated! just to check, a mortgage adviser is the same as a mortgage broker right?