How do I choose a mortgage?

AnJ

My husband and I have found a house we want to buy, but the vendors are keen for a quick sale due to poor health. We have had an offer accepted, but we'd only just started looking for somewhere when this place came up, so hadn't sorted out the mortgage... We are chain free and keen to move quickly ourselves (renting at the moment).

My bank will happily give us a mortgage (10% deposit, amount to borrow just over 100k), but their interest rate seems very high to me - 6.09% fixed rate for 5 years then 4% (overall 5.1% for a 25 year term). On the plus side, they can process it all in a short period of time.

If we find ourselves a broker, will this
1. give us a significantly better deal (I guess the answer is yes)
2. result in everything taking loads longer (again I guess the answer is yes)
3. count against me in terms of credit scoring because I went through the whole process with the chap at the bank which will have left a mark on my record (again, yes seems most likely)

Does anyone have any advice on how to proceed? Don't want to muck the vendor about, but don't want to pay through the nose either ....

Thanks!

Simon_gloster

Sounds likd halifax or c&g?

You will get better rate thru a broker.....then again you also would thru non broker lenders like HSBC and with perils.

Timescales are dependant thru the lender not the broker, although a carp broker may take longer due to inexperience.

A good broker would talk to you and apply, so ideally only one more score needed.

Maybe you should have thought this thru a little more before offering.