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  • FIRST POST
    • ForzaFifer
    • By ForzaFifer 10th Aug 18, 7:35 PM
    • 38Posts
    • 9Thanks
    ForzaFifer
    First time buyer - looking for advice
    • #1
    • 10th Aug 18, 7:35 PM
    First time buyer - looking for advice 10th Aug 18 at 7:35 PM
    Hey everyone,

    In the next few months i will be looking to hopefully buy my first house, i'm in a rather fortunate position that i have a pretty large deposit, which is handy as im looking to buy in London.

    I dont really have a clue what im doing though, im not sure of the best way to go about getting a mortgage. Does anyone recommend using a mortgage broker? if so which one? Or is it best to just use mortgage tools like the ones available on MSE? Or, do you get better deals going direct to the bank?

    Cheers,
Page 1
    • jaelato1
    • By jaelato1 10th Aug 18, 9:10 PM
    • 70 Posts
    • 38 Thanks
    jaelato1
    • #2
    • 10th Aug 18, 9:10 PM
    • #2
    • 10th Aug 18, 9:10 PM
    I will advice to go to a Mortgage broker, you get better rate most of the time with lenders using MB also you cant apply directly to some lenders without MB. Find a good local one and good luck......and also look at all your credit history with all the 3 credit agencies (Noddle, clearscore and Experian using MSE credit club)
    • jonnygee2
    • By jonnygee2 10th Aug 18, 10:50 PM
    • 329 Posts
    • 334 Thanks
    jonnygee2
    • #3
    • 10th Aug 18, 10:50 PM
    • #3
    • 10th Aug 18, 10:50 PM
    "I dont really have a clue what im doing though, im not sure of the best way to go about getting a mortgage."

    Go to a broker! Now! A mortgage broker makes getting a good deal MUCH easier - an invaluable resource. If you understand the market well it can sometimes be okay to look around yourself, but you'd be very unlikely to get a better deal. As you don't know anything just go straight to a broker.

    Which broker? Look for someone fee-free. A friend recently used Trussle.com and had a very good experience, so could start there especially if your house and situation are fairly standard. If you are self employed or there's some other special factors, try to find a broker that deals with your specific situation.
    • ForzaFifer
    • By ForzaFifer 11th Aug 18, 12:15 PM
    • 38 Posts
    • 9 Thanks
    ForzaFifer
    • #4
    • 11th Aug 18, 12:15 PM
    • #4
    • 11th Aug 18, 12:15 PM
    Ok, thanks - I was leaning towards a broker, just seems a lot easier for a newbie like myself.

    Ive been doing research on Trussle, L&C and Habito. I will also look for good local brokers near Walthamstow, which is the area I want to buy in, see how much they charge.

    As for my credit score its pretty solid - I didn't know about the MSE credit club though, I'll check that out.

    Thanks
    • ForzaFifer
    • By ForzaFifer 21st Aug 18, 10:35 AM
    • 38 Posts
    • 9 Thanks
    ForzaFifer
    • #5
    • 21st Aug 18, 10:35 AM
    • #5
    • 21st Aug 18, 10:35 AM
    Something i never thought about

    I need to leave my current flat where i have been living for over 3 years (me and my girlfriend split) so i need to move as im not paying 1400 a month on my own.

    Anyway, as im moving, will this effect my credit score when applying for a mortgage? Im moving borough and need to register for the electoral roll in a new borough. Im not sure if i should wait a few months to apply for a mortgage, perhaps wait until i show on the electoral roll in my new flat.

    Thoughts?
    • foxy-stoat
    • By foxy-stoat 21st Aug 18, 10:38 AM
    • 2,796 Posts
    • 1,584 Thanks
    foxy-stoat
    • #6
    • 21st Aug 18, 10:38 AM
    • #6
    • 21st Aug 18, 10:38 AM
    Something i never thought about

    I need to leave my current flat where i have been living for over 3 years (me and my girlfriend split) so i need to move as im not paying 1400 a month on my own.

    Anyway, as im moving, will this effect my credit score when applying for a mortgage? Im moving borough and need to register for the electoral roll in a new borough. Im not sure if i should wait a few months to apply for a mortgage, perhaps wait until i show on the electoral roll in my new flat.

    Thoughts?
    Originally posted by ForzaFifer
    It may well effect the credit score that you refer to but fear not, the lender doesnt see your credit score so it will make little difference if it is 300 or 700.
    • M2808
    • By M2808 22nd Aug 18, 11:12 AM
    • 32 Posts
    • 23 Thanks
    M2808
    • #7
    • 22nd Aug 18, 11:12 AM
    • #7
    • 22nd Aug 18, 11:12 AM
    I have just had a mortgage offer accepted even though I moved in with my parents and changed electoral roll address in a different county
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