first time buyers mortgage

dj_ad1200

hi me and my partner are looking for a first time mortgage
the flat we live in has been reposessed and it being sold at a knock-down price of £50000
we pay our rent but the landlord diddnt pay their mortgage
we have a 10% deposit
my partner earns £14000pa before tax and I earn £5000

what would the best mortgage be for us

any help would be brilliant as I dont know where to start

thanks

UrWntr

Go to http://www.moneysupermarket.com, select mortgages, type in your figures and pick the best rate.

hcb42

you will have to decide if you want e.g. security of a fixed rate where your payments are known for next x years, or a tracker where there is more uncertainty, but you might get a cheaper rate. Also look at the cost of setting up a mortgage, as with such a small loan, you dont want to be stung with a huge fee to set up and then penalties if you need to move unexpectedly.

Although it is cheap, also consider if it is the right place for you in the medium term.