Mortgage

Gray_colt

Hi there, i am a 1st time buyer, i am currently looking at a property and want to put an offer in. The property is on at 180k i currently have 136k in the bank. I have no idea what to do!! Do i make an offer then go to the bank? Is the halifax the best for things like this? Will i be paying much off a month? I earn about £1700 a month and have low out goings. Does this sound like i would get a mortgage/ a good one? Any help much appriciated.

kingstreet

Seek help. Whether you use an independent or whole market broker, or talk to someone who works for only one lender who will sell you their product alone, please get advice from somewhere.

This place can help, but it is not a substitute for proper professional advice.

House purchase process runs like this;-

Offer agreed
Solicitors instructed
Sales memorandum issued by agent
Purchaser applies for mortgage
Vendor's solicitor prepares and issues draft contract
Vendor completes seller's enquiry forms and returns to solicitor
Valuation/survey carried out
Purchaser pays solicitor for searches
Searches requested
Renegotiation of price due to survey findings - if required
Mortgage offer issued
Purchaser's solicitor receives seller's enquiry forms and raises any enquiries
Searches returned
Responses to enquiries
Purchaser visits solicitor to go through paperwork, hand over ID and deposit
Completion date agreed between all parties
Contracts exchanged
Completion takes place

Before this happens, you need to take advice and get help with how to source the best mortgage for you and your circumstances and get an agreement in principle before you offer.

Gray_colt

Thanks king, i have no idea who to go to to get a mortgage in principal, can i make an offer without one then get one after? Who sells the mortgage in principal? Where would i go halifax?

Gray_colt

Ok a friend is giving me a local IFA number at work tomorrow, so will see what he says, not sure how much it will be. I want to put an offer in tomorrow but not sure if they will listen without a mortgage, i think ill get a mortgage as i have a decent deposit? But im so lost on this!