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First Time Buyer

[Deleted User] · 2024-05-03 21:36:32

What Would You Do I have an offer on a house which has just been accepted. Therefore I now have moved to sales agreed status. This is on the condition that I must wait on the existing home owners finding a property. I was told that they had bid on a bigger property but last minute were out bid slightly and so there search…

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kingstreet Posts: 39,256 Forumite

7 May 2024 at 2:53PM

newsgroupmonkey_ said:

Others may disagree, but in your position, I'd do the following:

you can go to an independent mortgage advisor (Personally, I'd prefer one that you pay up front because as you'll find, they'll push you onto a mortgage that pays them the most)

Typically, a broker is paid about 0.35% on a standard residential mortgage. You may get the odd 0.1% variance one way or the other but it isn't worth risking your career for. Under consumer duty we have to justify why we aren't using the cheapest lender/product based on the FCA's requirements.

I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
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First Time Buyer

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