I need a mortgage.

Littlebookworm

herbiesjp wrote: »

A whole of market adviser is one that can find the best mortgage for you from the whole market place

Some advisers can only advise from one lender, and some advisers from a limited panel of lenders

If you go whole of market they are looking at all options for you to find the best deal.

An agreement in principle is where you allow the lender of your choice (the lender offering you the best deal) to run a credit search and see if they will agree the mortgage.

THis can save time, as if you put in an offer, and then you find you cannot get the mortgage agreed, it can cause problems

YOu would need to move sooner rather than later in terms of fixed rates, as they are all increasing at the moment

HTH

Thank-you very much.I will keep you informed.It is amazing what you can find out in such a short time ,and most people have been really nice.

Melissa177

Hi Littlebookworm:

Firstly, don't be worried about "getting anyone into trouble". There is a code of conduct on this forum that no mortgage advisors should contact people posting for advice to offer their services. The person who contacted you has broken that code of conduct - that is why everyone else wanted to know their name. This person is probably perfectly kosher, and will help you, but they should not have gone against the board's code of conduct.

Secondly - in my opinion, a 20K deposit would be a good start, and your salary is good too. Try putting in your details here: http://www.moneysupermarket.com/mortgages/quickmortgage.asp to see what kind of monthly payments you could expect. There are all kinds of mortgages - fixed, tracker, variable, capped etc, so you might want to do some reading on what all these mean.

Thirdly - if your dad has contacts, ask him if he has anyone he could recommend to help.

Finally - I have just gone through this entire process on my own. I was quite apprehensive, and so I bought this book:
http://www.amazon.co.uk/How-Buy-House-Phil-Spencer/dp/0718147340

If you're a book worm, this might be a good place to start!

Good luck.

Littlebookworm

Thank-you Melissa ,you and the little bird lady have been so helpful.I will take your advice ,perhaps I need to do some more research,this is all such unfamiliar ground and I have made such a fool of myself,and that man was very harsh.

toonfish

which man?

Littlebookworm

I have received a phone call back from the estate agents and they have accepted my offer of £140000,good old Dad.

Melissa177

Well done! That is great news.

Now go get that mortgage and get a few quotes from a solicitor/conveyancing for the conveyancing work. Maybe use Google to find a few in your area?

herbiesjp

Well done :beer:

So you saved yourself £10k on the asking price

Now you need to move quickly on the mortgage front - have you asked them to take the property off the market and stop any further viewings?

Have they stipulated you need to get a survey done within a certain period of time?

kenshaz

I am so pleased that you received the help you needed and I understand your feelings,perhaps if you are happy with what you have achieved today perhaps rules and regulations should be put aside. I am sure that the person concerned has realised their mistake and it will not happen again. I would normaly create a fuss ,but in your case ,I would say enjoy the site.
I think that we should move on ,and I am sure that if you keep posting you will get what you want.
Why not read Martins article .
Good luck and take care and just don't be so trusting.
Mortgages: Sneakily get the best advice for free plus possible extra cashback
CLICK ON THE ABOVE LINK
and come back and ask Herbi and Melissa one is an expert and the other some -one who has had the experience

Melissa177

Ooh yes, the survey - forgot about that!

If you have any questions regarding which survey to go for, you might want to have a look at the House Buying forum.

An older property may need a full structural survey, although you may get by with just a Homebuyers Report if your house-to-be is fairly modern. Estate Agents and Vendors like it when you get the survey done quickly, as it means you are serious. However, you may want to ensure you get your mortgage sorted first, because

a) your mortgage company that you borrow from may tie in a survey deal with your mortgage (NOT to be confused with the "mortgage valuation" - this is something different)

and

b) you want to make sure you've been accepted for your mortgage


I bought a property recently and used Habitus, which I personally found to be very good. They were reasonable (220 pounds for a Homebuyer report), and also did good deals on conveyancing as well. Find their website at http://www.habitus.co.uk/. There is a survey guide here: http://www.habitus.co.uk/guidesurveys.aspx

They will not rip you off.

They also have lots of good information for anyone new to buying a house. I am NOT an expert, but I did do a lot of research when buying my property, and really enjoyed the experience (which is why I quite like posting on here, as I keep learning new things, and I like to be able to help out if I can be of some use to someone else).

Mr_helpful

Nothing like a wind up is there? I think OP is someone else who posts here.
lots of quickly edited posts just like someone else. Attempt to hint that MM is PM ing the OP. Just a time waster in my opinion.
Of course if I am wrong then the OP should take up Kenshaz's offer of the BEST rates as with a statement like that he has to deliver. Carlsberg use the word Probably so they dont have to prove their lager is best