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First time buyer
poppyegg22
Posts: 21 Forumite
My partner and I are first time buyers. We have had an offer accepted on a property valued 112,000. We have a 10% deposit and our combined salary is £32,181. We have seen a mortgage on Barclays 
(pictured)
Is this a good deal or are we better not going direct and using a broker?
(pictured)Is this a good deal or are we better not going direct and using a broker?
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Comments
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For a 90 LTV mortgage you might be safer going with a broker. I don't know about Barclays but a lot of other lenders are much more restrictive with 90 LTV mortgages than they are with lower LTV mortgages. A broker would be able to help you with the most appropriate lender for your circumstances. If you have any issues on your credit file you should definitely consider going with a broker for a 90LTV mortgage.
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Personally I’d use a broker, they can match you with the right lender for your circumstancesMFW 2026 #50: £3,583.49/£25,00007/03/25: Mortgage: £67,000.00
Mortgage:
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0001 -
....when you speak to a Broker ask them to explain the pros and cons of 2 & 5 year fixed rates
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Do you know the pros and cons of 2&5 year fixed?lspell1 said:....when you speak to a Broker ask them to explain the pros and cons of 2 & 5 year fixed rates0 -
This will be individual, there's is no one size fits all, Some want the 5 year fix knowing what they will pay is fixed for 5 years, for a higher interest rate.poppyegg22 said:
Do you know the pros and cons of 2&5 year fixed?lspell1 said:....when you speak to a Broker ask them to explain the pros and cons of 2 & 5 year fixed rates
Some want a 2 year fix for a cheaper interest rate or wanting to move within 5 years and need flexibility."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Also try to factor in what your ltv will be in 2 years time as then it could open up to cheaper rates? (I know no one can properly predict this but if it’s 90% ltv at the moment then hopefully you could get to 85% in 2 years)
I imagine the rates on 90% ltv are quite high so personally I’d probably go for a 2 year fix.MFW 2026 #50: £3,583.49/£25,00007/03/25: Mortgage: £67,000.00
Mortgage:
16/01/26: £56,794.25
02/01/26: £60,223.17
12/08/25: Mortgage: £62,500.00
12/06/25: Mortgage: £65,000.00
18/01/25: Mortgage: £68,500.14
27/12/24: Mortgage: £69,278.38
Savings: £20,0000 -
I agree with the previous posts, use a broker, oh and your credit score will not be used for the mortgage application, only you can see it, your history on the other hand is.0
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Went with the broker. Had the valuation from nationwide today and noticed in my credit file they have done a hard search so hopefully not too much longer to wait for the offer.1
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