First time buyer mortgage advice

jester99

Hi,

Me and my partner are currently looking to buy our first home after renting for the past few years. We are looking to spend around £160,000 and have just over a 10% deposit saved with extra funds to tackle legal fees etc.

Due to our jobs, doctors in training programmes, we need to re-apply to progress up the training ladder every couple of years. Ideally we will stay in the same location for at least the next 3 years but this can't be guaranteed as we may be placed elsewhere. Fixed deals seem to charge hefty fees to leave early so am I right in thinking we'd be better off with a tracker with no early repayment charge so that if we had to move early we could do so without the fee?

We are still viewing houses and have yet to put in our first offer. Is it worth speaking to a broker now aiming to get a decision in principle despite not knowing exactly how much we'll be spending i.e. some houses slightly more expensive than others? Also when is it best to contact a solicitor/lawyer?

Thanks in advance!

amnblog

Do not waste your time trying to go direct if you are F1 or F2.

Most lenders wont get their head around your situation.

Seek a mortgage broker who does a lot of cases for Doctors.

We know because we deal with Doctors every day.