Finding a mortgage broker

onetimeatponycamp

I'd love some help with how I go about finding the best mortgage broker for me. I've used the online searches, but I don't know how to choose from the pool. I have a specific situation in that:

- I'm buying on Help to Buy

- The property is next door to a petrol station

- I need to buy on the basis of a contract/probation period at a new job

Can anyone suggest how I can best find someone to help me in this situation? Will I be able to find someone who is fee free?

SonOf

In reality, most local independent/whole of market brokers do the job very well.

If you are in an area with low house prices then its likely there will be a small fee (typically around £250)  If you are in an area with high house prices, then a fee is less likely as the commission on the mortgage will be high enough.

kingstreet

HTB next to a petrol station? Which developer has done that?

onetimeatponycamp

SonOf said:

In reality, most local independent/whole of market brokers do the job very well.

If you are in an area with low house prices then its likely there will be a small fee (typically around £250)  If you are in an area with high house prices, then a fee is less likely as the commission on the mortgage will be high enough.

This is in the SE, 2 bed flat for £295k so I assume that this doesn't count as low.

onetimeatponycamp

kingstreet said:

HTB next to a petrol station? Which developer has done that?

It's a conversion of a listed building that used to be a pub.

3 out of the 5 flats have already sold, so hopefully it shouldn't be too complicated.

amnblog

The new job/probation period is manageable, less so if you have a port credit history.
The acceptability of the location will be a decision for the valuer. A good Broker will consider that before application.
It might make more sense to seek the right Broker rather than a ‘free’ one.

kingstreet

onetimeatponycamp said:

kingstreet said:

HTB next to a petrol station? Which developer has done that?

It's a conversion of a listed building that used to be a pub.

3 out of the 5 flats have already sold, so hopefully it shouldn't be too complicated.

... and it's being offered under HTB?

onetimeatponycamp

amnblog said:

The new job/probation period is manageable, less so if you have a port credit history.
The acceptability of the location will be a decision for the valuer. A good Broker will consider that before application.
It might make more sense to seek the right Broker rather than a ‘free’ one.

Thanks, how do you know that the broker is the right one? The EA have put me onto a broker who they say the developer will pay the fee for, and I believe they have already got someone else a mortgage for one of the other flats, so they are also an option. I just want to make sure I get the best deal and advice.

onetimeatponycamp

kingstreet said:

onetimeatponycamp said:

kingstreet said:

HTB next to a petrol station? Which developer has done that?

It's a conversion of a listed building that used to be a pub.

3 out of the 5 flats have already sold, so hopefully it shouldn't be too complicated.

... and it's being offered under HTB?

Sorry, I'm not understanding the issue, please could you explain?

Whats_your_forte

Help to buy is to encourage new build properties and not for conversions hence the question

Retired_Mortgage_Adviser

Whats_your_forte said:

Help to buy is to encourage new build properties and not for conversions hence the question

Ex-commercial premises to resi conversions often do qualify as new-builds for H2B purposes.