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FTB Help with selecting mortgage
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m0t
Posts: 331 Forumite


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:
Applicant 2:
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).
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).
0
Comments
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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).I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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.0 -
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.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
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.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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