New Buyer - Advise Request

Jangle_2

I have been reviewing this Forum many months leadin up to my purchase of my first house for my better half and daughter.

Even with all the valuable information gathered I am still at a loss to know where to start.

I have chosen a property that has come onto the market last minute and will end this coming Friday. The reason is I live in a small village and property coming up at this price is a god send give the specifications.

The property is adversited at 165,000 I would like a morgage to cover this and little more for improvements and current loans to be cleared.

My thinking was start off with a 3 year fixed morgage but then I started reviewing sites and got confused and stressed with all the different offers and bad information about what they offer.

If there is anyone out there that can spare a min to help me in the right directions I would greatly appreciate it, I want to get this house for me and my daughter as she hasn't stopped going on about it...

Regards
Stuart Irons

herbiesjp

Do you have a deposit available or are you looking for a 100%+ mortgage?

meanmachine_2

To get the best rates you have to have no debts and be able to put down AT LEAST a 5% deposit, coming from savings.

Buying a property should never leave you broke or needing to take on even more debts.

A moregage or together mortgage is crazy in the current climate and would plunge you into immediate neg equity.

Still, provided you know the risks and have no intention of moving for at least 10 years...

Jangle_2

I have access to at least 3 grand, but that could increase to 6 by taking funds from a credit card but thats not a wise idea.

What do you suggest i do?

Regards
Stuart Irons