Mortgage Advice needed

ThePennySnatcher

Hi; I've currently been to see a mortgage advisor recommended by a friend and they've given me the following rates for an apartment in Scotland:

First time buyer, mortgage amount is 112,500
25 yrs, 5 year fixed @ 4.39% with GBP 1000 in fees.

I don't feel particularly impressed considering they're supposed to be specialists... just wondering if anyone can give me some second opinions.

Also, maybe I should get a tracker mortgage?

ThePennySnatcher

I should add that a quick google of mortgages showed another with a special deal at 3.39% for two years and 4.99% after with 500GBP more in fees, but a quick calculation showed I actually pay 1500 more over 5-6 years in that scenario.

jacobtheamish

Whats the LTV?
Was the mortgage adviser whole of market?

Thrugelmir

ThePennySnatcher wrote: »

I should add that a quick google of mortgages showed another with a special deal at 3.39% for two years and 4.99% after with 500GBP more in fees, but a quick calculation showed I actually pay 1500 more over 5-6 years in that scenario.

Does your application meet the lenders criteria?

ThePennySnatcher

Hi! Thanks so much for your responses.

Deposit is 10% and AFAIK I meet all the lender's criteria.

ThePennySnatcher

Mortgage advisor was whole market I think.