Help: Timing on decision making

jimmyy2000

Hi, buddies,

I just graduated and will start working this Sep. But I am still not so clear about what procedure I should follow to choose a morgage.

Should I have a chat with a broker and see how much I am able to get before searching my 1st property?

Is it possible for me to get a morgage before starting working? Though it's unlikely I think.

When should I start meeting brokers, before starting working or several months after?

I heard people are talking of house prices are too high and expect the price dropping in the near future. What do you think?

Thanks very much..:beer:

LisaT186

Hi, there is no harm in talking to a broker early! It's always wise to find out what you can borrow and what you can afford before you start shopping for property. It is possible to get a mortgage before you start your job (only a week or so before!) as long as you have a contract of employment and most want to see the signed copy where you have accepted the job offer.

As for house prices, I only wish I had a crystal ball! The view out there is very different some saying they'll continue to grow and some that they will decline. Maybe it means they'll stay stable!!!

Perhaps start house shopping in June giving two months or so to find and let it all go thorugh. Therefore have a chat to brokers in May time? There's nothing to stop you talking to them earlier if you want to plan ahead.