FTB Help with selecting mortgage

m0t

I am trying to find the best mortgage deal for us in terms of monthly payment and probability of being accepted and don't know where to go.

We spoke to a broker but just ended up confused and it didn't seem that the deals we were offered matched those online.

Our details are:
Applicant 1:

• Salary - £37000
• Credit Card mimimum payment - £25
• Credit Card balance - £500 (cleared monthly)
• Loans - None
• Bad Credit - None
• Student Loan - £165 PM

Applicant 2:

• Salary - £32300
• Credit Card minimum payment - £31
• Credit Card balance - £600 (Cleared monthly)
• Loans - £1200 outstanding on Sofas, £59 per month
• Bad Credit - None
• Student Loan £129 PM

House Price is £250,000, deposit is £25,000, repayment time - 30 years (lower monthly payments for the first few years until my pay has risen).

We got an AIP from Britannia for a graduate mortgage (no credit search carried out so free to check elsewhere).

ACG

We cant give you specific deals, this is what a broker is for - its classed as advice as were telling you which we think you should go for, we could lose our license by doing that without having conducted a factfind first.

It may be the broker you went to see wasnt whole of market? Its also entirely possible you found deals that were not available to brokers (these can sometimes be better or worse than you can find by going direct).

m0t

I will speak to the broker again later and find out whats what (he is a family friend).

Ideally I would like to go for the HSBC 5 year fixed because then I don't need to worry about the repayment going up or down (and I can overpay a bit) but I have read that they have strange lending criteria and you may fail without an obvious reason.

betmunch

m0t wrote: »

I will speak to the broker again later and find out whats what (he is a family friend).

Ideally I would like to go for the HSBC 5 year fixed because then I don't need to worry about the repayment going up or down (and I can overpay a bit) but I have read that they have strange lending criteria and you may fail without an obvious reason.

And their new rule on solicitors to make the whole buying process more expensive and stressful. Dont forgot that little Peach!!!

kingstreet

Neither HSBC nor Britannia pays a commission to an intermediary, so you won't be offered products from these lenders unless you agree to pay a fee, or do direct to them.

The current cheapest 90% five year fix is only available direct, from Chelsea BS at a rate of 4.69%.

I suggest you contact them and also consider HSBC, Yorkshire and Leek United BS.