Mortgage advice

flashsnaps

Hi all :j

We are first time buyers and have a couple questions.

(1) We will get a mortgage in principle from the lender which obviously puts a stamp on our credit history, but if we fail to secure a property while the mortgage in principle is valid (usually 90 days?) then is getting another mortgage in principle going to be difficult? e.g. as we didn't manage to secure a mortgage/property first time round.

(2) Is it better to go through a broker, so they do one credit check on you and bring back the best prices for all the lenders rather than going to each lender individually which will result in a credit check on each?

Many thanks for your help.

ACG

I personally prefer to look over peoples credit reports and make a judgement myself.

I dont like doing credit searches/agreements in principle (AIP) until a property is found, purely because they can expire and the proeprty you find may not be acceptable to the lender that the AIP is with. Also, it is exactly that... its an agreement in principle. Its not really worth the paper its written on.