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Conan1Sett
Posts: 128 Forumite
I recently checked the mortgage comparison service on Experian and I found that I had an excellent chance of being accepted for a mortgage of £45000 with a £5000 deposit.
Do I speak to the money men first, or do I make contact with an estate agent and arrange viewings and start signing forms? Generally speaking, what comes first?
There was a £999 administration fee but should I budget for anything else?
Do I speak to the money men first, or do I make contact with an estate agent and arrange viewings and start signing forms? Generally speaking, what comes first?
There was a £999 administration fee but should I budget for anything else?
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Comments
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Speak to a mortgage broker, obtain an Agreement in Principle (AIP) and then start viewing houses.
Estate agents will want to see your AIP sometimes before even letting you view a property and almost certainly before entertaining any offers.
The £999 product fee can often be put ontop of the mortgage amount, so you dont have to pay it upfront.1 -
Thank you scholesfan88.
I shall try and get in there on Tuesday.0 -
I'm sure there are plenty of threads on the forum that will give you an idea what to budget for.Conan1Sett said:Thank you scholesfan88.
I shall try and get in there on Tuesday.
Essentials will be fees for things like surveys, mortgage set up, broker, removals, solicitors. Also budget for potentially a near double first mortgage payment plus setting up council tax and all utilities when moving in.0 -
On a £45k Mortgage you are probably better off paying a higher rate with no arrangement fee. No harm speaking to a broker, it sounds like they can add some value.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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