Advice for a FTB please!

albanchick

Hi all,

Just wondered if some of you good peeps could advise me on the following.....

My hubby and I are hoping to apply for our first mortgage in the very near future and I'm wondering if it's best to go straight to a high-street lender or go to a mortgage broker? I've been reading this site quite a bit and have checked our credit ratings with Expedian, mine is excellent and my husband is good (almost excellent too) so this has made me think about going direct to the high street? We would be looking for £150k and have a £10k deposit.

We bank with Nationwide, can anyone advise how easy/tough they are for mortgages?

Thanks very much!

[Deleted User]

You should go and see a broker, one that doesn't charge a fee and has access to all of the market - it makes no sense limiting yourself to just high-street mortgages when you might be able to get a better deal elsewhere

Badger_Lady

I've always used a broker and he's been wonderful - really helps you get all the paperwork together, and they often have access to special deals that you can't get directly. Relieves a lot of stress!

I've never been able to get a Nationwide mortgage because they're very ethical lenders - generally, they look for a high credit score, a healthy deposit and will only lend you a few multiples of your salary.

When I was a first-time buyer I needed to borrow five times my salary in order to buy a one-bedroom flat. But if you've been organised and can comfortably achieve your £150k, they should be a good lender.

But still go through your broker!