FTB - where to start?

CookieMon

I have previously posted on here regarding our current arrangement of renting a flat. Myself and OH have decided that we want to start the process of looking to get a house together (yes we know about the house price crash etc, we are looking to be very careful about this don't worry!)

Basically I have read through the FTB guides and all, but just want a bit of advice about *how* to find the people needed to help out. We initially have been to my partners bank just to get an idea of the amount we can loan based on his salary (I myself am currently self employed but only for around 9 months or so, so most people won't take into account my wages, but as we don't want to buy an overly expensive house this isn't too much of an issue).

The bank we went to has agreed a mortgage in principle (ie they have not done credit check etc, just based off his wages outgoings etc) of 135k (with us putting down a 15k deposit) so an offer of 150k is what we are looking at.

Obviously we don't want to just go with the bank (pushing own products etc) and want to look for an independent broker, but the question is - how do we find one? Is there a good place to look for reputable ones? We have no family/friends that have bought in this area so we can't go from word of mouth and I'm a bit loathe to just contact someone in the yellow pages without any unbiased reviews of the service.

Also, same goes for a solicitor, how should we find one? Should we be looking at one before we have even found a house we want, or should we wait until we have put and offer in?

We have been to view a few new-builds so far and have a couple of viewings at some older properties lined up, but basically we feel a little clueless about if we ended up finding somewhere we actually want to put an offer on!

Kez100

How are you looking to be very careful about the impending crash? Do you know how negative equity works, in terms of selling and remortgages, should you ever find yourself in it?

CookieMon

Yes we do understand about negative equity etc - we don't claim to be experts at all and I'm pretty sure there's no way we can guarantee we wouldn't be affected by it (apologies if the post seemed that way, I just didn't want a barage of posts saying 'don't buy, house prices will crash' etc.) but I believe we've researched enough into it to be willing to take the risk when it comes.

I'd rather this didn't become a thread about whether or not to buy, or if/when a crash may occur, I simply would like a bit of information from people regarding the best way to find a solicitor, mortgage broker and when the best time to do it is:o

Thank you in advance!

Doozergirl

Where do you live? Perhaps someone here can recommend.

Otherwise Martin often talks about London & County.

Apparantly some of the good deals aren't offered through brokers at the moment so there are some companies that you should at separately (I think HSBC has a good one at the mo?)

As for solicitors, it isn't incredibly important to have one in the same area as you so if someone has a good recommendation, go with it.

CookieMon

Thanks Doozer - we're looking in the East Midlands, Nottinghamshire.

I know it sounds strange, but I kinda thought London and County would just be based in...London... lol. Blonde moment there...

LillyJ

Doozergirl wrote: »

Apparantly some of the good deals aren't offered through brokers at the moment so there are some companies that you should at separately (I think HSBC has a good one at the mo?)

Doozergirl is right (as always ) the Halifax is another one who is undercutting brokers.

brit1234

I personally think you should wait before buying. You will get far more for your money and come out with far less debt.

LillyJ

I'd rather this didn't become a thread about whether or not to buy, or if/when a crash may occur, I simply would like a bit of information from people regarding the best way to find a solicitor, mortgage broker and when the best time to do it is:o

Brit you have done exactly what the OP asked us not to do. It isn't going to help them find a solicitor is it?

I used L&C and then ended up going direct as I got a better deal with the Halifax. Make sure that if you do go direct you have a really good idea of what you want first as I didn't get any advice at all from Halifax (not that I wanted it).
I used a personal reccomendation that gave discounts to police officers (OH is one) for the solicitors. They have a branch in out city but the conveyancing branch is in Manchester. We haven't had any problems but that isn't to say we won't have any between now and completion!

Gonzo

First Direct still seem pretty good for a mortgage.

Fiddler & Pepper in Mansfield seem to have done a pretty swift job of the conveyancing on our house (thought they do need to send some of their staff back to school, as some of their emails are barely legible!). They do all the Internet and text business etc. and they were our cheapest quote.
Either way, a lot quicker than either our vendors or buyers solicitors, so that must be worth something!

fwiw

zippygeorgeandben

Keep us updated CookieMon as I'm not too sure of who you ask for and who you need as well, I'll need these answers myself in the future! Best of luck!!

Ben