FTB Mortgage Advice

fluffybunni

Hi

I'm just looking for some advice about buying my first home.

I've had a decision in principle from nationwide. I was wondering if it is really worth going via a mortgage broker to find a mortgage.

Nationwide have said it's likely they will offer on a 5% deposit; rate of 3.99, £250 cash back in place of free legal fees. Free valuation, £500 off the product fees, which makes it £499 and then £1000 cash back once first month mortgage payment has been made (through there save to buy isa which I am saving in).

Now if I go to a broker, is it likely, given our small deposit, that they could do a better deal? What I'm wondering is if it's worth it or not? As I assume I would have to pay a broker? Any know of the fees for a whole market broker??

Thank you! It's all so daunting!!

Malmo

Free valuation

This will cover just the basic valuation report that the lender must have from a surveyor. Remember to instruct an actual survey (Homebuyers or Structural depending on your needs).

fluffybunni wrote: »

As I assume I would have to pay a broker? Any know of the fees for a whole market broker??

No, brokers don't have to charge you directly. There are various fee structures. A whole of market broker can choose to charge a fee or not. This is one of the questions you should ask if you choose to approach and engage a broker. A good broker will specify their fees and how they get paid in their Initial Disclosure Document (IDD), which you should receive when you start speaking to one and before any research is conducted on your behalf.