First Time Buyer & My heads Spinning

marbar2k

Hi everyone, I am a first time buyer. Ive just had an offer accepted on a property. I have a whole of market broker who is fee free. They come recommended from a few different people that are not connected.

Should I be going to more than one broker? Is there anywhere I can see if what they offer is a good deal? Im a bit of a beginner at all this and I'm just cautious but I do trust the broker.

The value of the house is £160k and i have a £40k deposit so the loan to value is 75/25%.

Im looking at a fixed rate over 25 years.

marbar2k

i am a first time buyer taking out the mortgage on my own

snowcat123

Your whole of market broker should find you the best deal. If they're reputable, there's no need to go through more.

Personally, if you trust them, I'd stick with the one you've got.

brit1234

I have never heard of fixed rates for 25 years in the uk, I only know up to 10 years.

GMS

I think the OP means a fixed rate with a 25 year term rather than a 25 year fix.

marbar2k

sorry fixed rate with a 25 year term.

ryan86uk

You should be fine. You should be getting interest rates of about 3.5-4.5% with that deposit :-) Depending how long you are fixing for, maybe a little below 3.5 if your fixing for two years :-)