First time buyer advice

donnacraig1984

Hi folks. Need lots of advice. Just been accepted for a mortgage. Don't know where to start. Seen a house i like, made an appointment to see the house. tomorrow 6pm. What sort of questions do i need to ask. when it comes to making an offer where do i go from there.... I don't even have a solicitor, yet. My uncle is the mortgage broker. House is on market for £75000, I have £12000 for deposit and fees on a 90% mortgage, been advised if i like the house make offer around £68-£69000, home report value is £73000. Starting to get paranoid incase i don't have this or that,what should i expect fee wise to pay. Hope you can all keep right.
Thanks Craig

Thrugelmir

Look at plenty of houses before making an offer. As you see more you'll benchmark them against each other. When the right property for you comes along you'll know it.

Senior_Paper_Monitor

And don't be bullied by an estate agent (it will help to tell them that your uncle is a mortgage broker and sorted that side! In fact I'd recommend other FTBs to use the same line!).

Estate Agents spend their whole life trying to verify you as a purchaser (and what you can afford) - we lose over three times as many deals from vendors failing to complete as we do to our clients pulling out - pressure them to clarify to you (in writing - write/email to them saying you will be putting in an offer once they have confirmed vendors position/capability to perform) the vendor's position in their intent and ability to complete.

I have a case on my desk where the clients (a really pleasant pair of FTBs) are about to lose their 3rd deal in 9 months because the vendor can't/won't complete. In this case our solicitor has been told by the vendor's solicitors that they have been instructed not to provide legal pack until the vendor obtains mortgage for planned move - yet the estate agent previously confirmed in writing to our clients that the vendors were moving to rented accommodation and could complete at any time (I suspect the word 'misrepresentation may be used in some imminent correspondence)!

donnacraig1984

Thanks for the reply.
What sort of fees am i looking at. I know the mortgage set up fee is £499.
What about surveys, lawyers, that sort of stuff.

Craig