First time buyer: how do you find the "cheapest" mortgage?

at11

As a fellow money saver i always look for the best price/deal before buying anything, its just my nature

So now i want to buy my first property i am quite lost on how to find the most competitive mortgage?

I will have to wait for my grad job to go past probation before applying for a mortgage so have 4 months to wait.
By then I will have £35k for my deposit but only having a £26k salary as a single person seems to limit me to a £120k mortgage with Nationwide

What other mortgage providers provide the most competitive rates? preferably the highest mortgage amount?

I will be living in greater London & looking at a one bed flat costing£150k, but ideally would want a £200k one bed flat

kingstreet

Do you want the "cheapest" or do you want the amount you need, at the time you need it?

Do you understand that a large product fee might make the best rated product completely uncompetetive, or that smaller mortgages may be better with a higher rate, no/low fees and a refund of valuation and a bit of a cashback?

TBH the answers to your questions are "it varies from lender to lender", so you need a good whole market broker to explain how things work, or you need to get stuck in to some serious research.

If the answer at any time was "XYZ lender/product" I wouldn't be celebrating thirty years in this business next year.

amnblog

A mortgage is not like buying a can of beans.

You need to be accepted to make the purchase, that is the difference.

If you are saying you want to make the best decision you can the. Get some advice from an independent mortgage broker.