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can you recommend a good mortgage lender?
Former Member
Posts: 1,876,323 The Mix Honorary Guru
well due to circumstances it turns out im going to buy a house sooner than i planned, hoping to sort it out over the next few weeks.
now looking for a lender that is good for FTB's. also it would be a joint mortgage but not with a partner, would be a mate of mine.
can anyone recommend anywhere?
i keep getting told northern rock are great but was just wanting other peoples oppinions.
turns out ive actually found a house i want so might just go for it.
now looking for a lender that is good for FTB's. also it would be a joint mortgage but not with a partner, would be a mate of mine.
can anyone recommend anywhere?
i keep getting told northern rock are great but was just wanting other peoples oppinions.
turns out ive actually found a house i want so might just go for it.
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was just gonna check out some lenders myself like to get a idea of what im getting myself in to.
ETA: In the Sunday Times money section, they have a table of the best mortgage rates.
i was gonna wait till after summer but looks like my parents are moving to a house miles away, where i dont want to go!
so i need to get my act together.
http://www.moneysupermarket.com/mortgages/mortgage.asp
You can compare loads of different mortgages.
But I would echo Kentishs' words and go with some kind of professional advice.
Be careful of rate changes, fees to enter and get out clauses - also check for if you can make overpayments, and by how much (otherwise you will be charged)
Good luck :thumb:
I met this guy at a property show and he has been really helpful -
Bob Rixon
> INDEPENDENT MORTGAGE ADVICE BUREAU
>
> 96 Easton Street, High Wycombe, Bucks HP11 1LT
> TEL: 01494 510501
> FAX: 01494 510383
bob.rixon@imab.net
Good luck with it all!
one of the mortgage advisors say they can find us a 100% mortgage to cover as much as we need to buy a house that we are looking at and also a bit extra to pay off some existing debts that we owe to start on a level pegging.
THIS IS EXCITING!
what to do now? oooooooooo
i dont really get those things, i guess intrest and repayment is the normal way right? i'm just waiting for some details back from the mortgage woman.
http://www.thesite.org/homelawandmoney/home/buying/typesofmortgages
Just don't feel rushed into choosing a mortage, they are all highly skilled in selling their product and will say what you want to hear, but may not always go through the finer points. And don't even talk to me about estate agents (!), I am in the opposite position of selling and have learnt all about the games that are played with offers and negotiations!! Oh isn't it fun being a grown-up!
Your Move estate agents have a very good IFA service, and we got our mortgage through them. We are with the Coventry Building Society, who have lent us a 95% mortgage and it's a very very good rate of interest. It's also locked for five years, with no early redemption penalties.
If you go for a cheap mortgage look at the small print carefully- many mortgages, such as with Northern Rock, have very prohibitive lock-in penalties, often in the thousands.
And speaking of estate agents, I would highly recommend Your Move, as they are courteous and professional and don't act like twats with fake offers, etc.
When it comes to the conveyance, though, I would recommend that you search for a local firm rather than using the solicitors that the estate agents recommend. I work for one of the big firms that do volume conveyancing, and whilst we do a very good job, our fees can be quite high if you need anything above the bog-standard package, and our caseload can be very large so you won't get a very personal service. I work in remortgage conveyancing if you want to ask any questions in PM.
will the financial advisor im talkign to at the moment tell me the lender before its organised? because what would be to stop me going direct to them? or would there be no benefits doing that?
she is going to phone me tomorrow to go through the deal that she is trying to sort out.
just trying to do it as cheap as possible at the moment as neither of us have savings really so cheaper the better.
our parents have offered to help out with solictor fee's etc... and its below stamp duty so thats good too.
what questions should i be asking when i speak to the woman again tomorrow.
also, the estate agent that i have seen the house with have offered us free financial advise, would you recommend seeing them as well? i guess theres nothing to lose.
bad news is the house i really wanted has been taken off market told them that still interested if things dont go.
thats basically what we have now anyway...we aint paying for our financial advisor and she aint tied to any lender, she's independent.
she gets her kick back from the lender.
You won't find one that's fees-free- either they charge you, or they get kickbacks from the lender. Both have their advantages, and both have their disadvantages.
Taking the estate agent's advice probably wouldn't do any harm- often big IFAs have better access to the market, and are better placed to get good deals because volume of business = bigger discount.