mortgage promise/ deals

missma

Hi

We were looking at a new build semi property in Belfast put an offer in for 193k but for finish discussed builder he wants 199k. To make things worse are own property fell through yesterday. We should have 15% deposit possibly bit more.

Anyway decided yesterday to get a mortgage promise, limited to certain companies, as even if we do not buy this one we may buy new.

Mortgage advisor looking at 3year fixed nationwide, 3.94%, 99 arrangement fee, 230 valuation fee. Anyway she is away now for week and think has someone finishing promise. However not sure whether we would have rather went for one with nationwide 3.64 rate 999 arrangement fees. By way not all mortgages cover northern ireland.

Anyway should we be stressing about mortgage promise. Can we go to another company or different deal. Or does this cause problems due to credit searches. We both have excellent credit rating. Earn about 28k each usually bit more.

Advice welcome

kingstreet

You aren't selecting a product now.

That happens at full application and you may find the rates have changed by the time you have reserved your property.

A couple of searches should not cause you problems.

missma

Thanks kind of relieved as was stressing stupidly stressing thinking would rather pay 1k in. Yea rates may change and this may not be best deal at time or if we do not buy new may not be.

amnblog

Focus on getting the lending. If you are using a mainstream lender the pricing will be fair. The broker will advise you on the most suitable rate.

missma

Thanks, anyone any experience of nationwide

kingstreet

You need to pay the £99 booking fee to secure the rate.

If you don't, you'll get whatever is on offer at the time of your application.