First time buyer needs opinion

smacky

hi

thx for info

i went into halifax today and they asked me if i wanted AIP , i thought of giving it a try and it came up as A category pass and they gave me AIP for £195k

The only docs the advisor asked me to bring once i have found the property is 3 years sa302 which i already have

i have been going through AIP no where it indicated thats its A category pass

How likely am i to get this mortgage , and also should i be comparing or try to get another AIP from diff lender ?

rates offered for fixed : 4.24 fr 2 yrs , overall 4.1

thx in advance

smacky

bump............

kingstreet

The Halifax Mortgage Promise is based on a soft search, so the mortgage isn't certain until later in the full application process.

An AIP from another lender may give you a greater degree of confidence, but will leave a visible "footprint" on your credit file.

smacky

hi Kingstreet

thx for response... i wanted to know if a independent broker like you will be able to get better rates ?

Regards

kingstreet

Brokers who offer independent or whole market services have access to all the lenders in the market. If you hire one on an independent basis, they may recommend a direct-only lender and would be unable to offer you mortgage arrangement as part of the service.

An independent broker would charge you a fee, then rebate to you any commission they receive from a lender to subsidise that fee.

Brokers who offer whole-market advice do so on the basis they will only recommend lenders/products who pay them commission. They may also charge a fee on top of that.

Halifax rates aren't particularly great at the moment. There are lower rates available in the market. You need to spend some time researching rates and perhaps looking for a broker in your area. Ask friends and relatives for a recommendation.

smacky

Hi kingstreet

we looked around locally for few brokers and dint get much response, all we could see is they were pushing around here and there .. do you provide such services and if yes i assume location isnt much of a problem ?

i looked at hsbc,nationwide and santander ..not much of a diff in rates as halifax is giving £1150 cash back on completion n charging 450 for valuation.. others have slightly low rates but they charge upfront fee


regards

kingstreet

I personally only work on a face-to-face basis in my area of South Staffordshire. I believe this is best for my business and for my clients. The travelling costs to other parts of the country would make my charges so much higher, many clients would not want to pay the price.

For your area, try https://www.unbiased.co.uk, switching off the "sponsored ads only" option so you get a full list not just the paid-for adverts.