First time buyer mortgage help

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cafcwill said:

Hello fellow lifers

I don't know if this is the right place to get the info I require but seems like a good place to start considering all the House Buying analogies over the years :-)

I'm looking/wanting to buy my first house but absolutely daunted about what I need to do first and how to do it. I have a deposit sorted and a house price region that I can afford (however this is based on my banks online mortgage calculator) but I don't know if it's worth going through a broker to see if I can get a better deal etc. 

Then the question which broker do I go through? I'm based in Stockport so I assume a lot of the brokers you guys might refer will be southern based (or does where they are based matter?)

After all that I also need a rough idea of the other fees cost (broker, solicitors, surveys etc) as this will impact how much my deposit actually is. 

Any help will be appreciated. I just need help deciding which path to go down (along with a gentle push )

Thank you. 

I'm a mortgage broker & although living in London I'm only to happy to help.

PM me. 

I found that when you start viewing properties, every single one of the estate agents does everything they can to get you to sit down with their in-house brokers.

I advise doing a viewing or two on places you like and working the system to gave the sit down with the broker who will go through all costs and processes ahead of you. You then don't have to use that broker/estate agent but you will have the info you are currently searching. 

Ideally you want a broker who has access to all lenders. Some are restricted to certain lenders. Your own bank is obviously restricted to....1.

Mortgage company instructs what type of survey they will accept do they not?

swords_alive said:

Mortgage company instructs what type of survey they will accept do they not?

I believe it's mainly about the risk of the money they are lending, ie if it all goes tits up will they stand a chance of covering the loan should it default.

cafcwill said:

Hello fellow lifers

I don't know if this is the right place to get the info I require but seems like a good place to start considering all the House Buying analogies over the years :-)

I'm looking/wanting to buy my first house but absolutely daunted about what I need to do first and how to do it. I have a deposit sorted and a house price region that I can afford (however this is based on my banks online mortgage calculator) but I don't know if it's worth going through a broker to see if I can get a better deal etc. 

Then the question which broker do I go through? I'm based in Stockport so I assume a lot of the brokers you guys might refer will be southern based (or does where they are based matter?)

After all that I also need a rough idea of the other fees cost (broker, solicitors, surveys etc) as this will impact how much my deposit actually is. 

Any help will be appreciated. I just need help deciding which path to go down (along with a gentle push )

Thank you. 

Lovely to see people trying to help- good luck with your search .

rina said:

golfaddick said:

cafcwill said:

Hello fellow lifers

I don't know if this is the right place to get the info I require but seems like a good place to start considering all the House Buying analogies over the years :-)

I'm looking/wanting to buy my first house but absolutely daunted about what I need to do first and how to do it. I have a deposit sorted and a house price region that I can afford (however this is based on my banks online mortgage calculator) but I don't know if it's worth going through a broker to see if I can get a better deal etc. 

Then the question which broker do I go through? I'm based in Stockport so I assume a lot of the brokers you guys might refer will be southern based (or does where they are based matter?)

After all that I also need a rough idea of the other fees cost (broker, solicitors, surveys etc) as this will impact how much my deposit actually is. 

Any help will be appreciated. I just need help deciding which path to go down (along with a gentle push )

Thank you. 

I'm a mortgage broker & although living in London I'm only to happy to help.

PM me. 

I would highly recommend speaking to Golfie, he was excellent for us

Yeah, but he’s your dad :-)

Good luck dude

Good luck mate and congrats on the acceptance of your offer

Missed this first time round, I know a mortgage broker in Stockport and she is superb, sorted both my kids out with cracking deals but probably too late for you now.

cafcwill said:

Thank you for all your assistance with this, especially @golfaddick who took the time one Friday afternoon in the summer to put my frazzled mind at ease. 

I thought I'd give you a little update........I just had an offer accepted.

Now to begin the Hard work :-)

Hope it all goes smoothly, and remember to take your own tape measure with you when you go to measure up.

cafcwill said:

cafcwill said:

Thank you for all your assistance with this, especially @golfaddick who took the time one Friday afternoon in the summer to put my frazzled mind at ease. 

I thought I'd give you a little update........I just had an offer accepted.

Now to begin the Hard work :-)

Following on from this..............Due to complete today

its been 6 months of chasing, forms after forms after forms and seeing money vanish for things I 'need'.  But hopefully after today, it'll all be worth it.  

Plus do all estate agents have an aversion to communicating or did I hit the Quiet Estate Agent jackpot :-)

Once the deal is agreed they go looking for more work.

cafcwill said:

cafcwill said:

Thank you for all your assistance with this, especially @golfaddick who took the time one Friday afternoon in the summer to put my frazzled mind at ease. 

I thought I'd give you a little update........I just had an offer accepted.

Now to begin the Hard work :-)

Following on from this..............Due to complete today

its been 6 months of chasing, forms after forms after forms and seeing money vanish for things I 'need'.  But hopefully after today, it'll all be worth it.  

Plus do all estate agents have an aversion to communicating or did I hit the Quiet Estate Agent jackpot :-)

In my experience once the property is "Sold" then your file gets passed into the Completions Team and it's down to them to see an "accepted offer" go to "Completion". 

As in all walks of life you get good people & not-so-good people. Some will go the extra mile to keep the chain together & others just see it as a 9-5 job. 

Luckily mine have always been in the former camp but maybe that's because being in the "industry" I know what strings to pull and also like to SHOUT if things aren't progressing. 

Wasn't sure whether to start a new thread, first of all congrats to @cafcwill and hope your settling in ok.

This could get quite long so apologies. I'm in the middle of moving myself and the family over to Gloucester, We found a House we liked, the couple selling bought it last year, have done it up interiorly and buying a house about 3 miles away.

Things had been going quite smoothly (apart from the mortgage offer being lost on the post for 2 weeks), until 3 weeks ago when we instructed a survey. There were two main issues, one, the electrics are old and need testing/ certification and the 2nd one is there is a leak from a pipe that comes from the boiler leaking onto the outside wall. 

We asked of they would look at a repair of the leak but they snapped back saying it's an overflow pipe, the boiler was inspected in January and there's no need for repair. 

However, I'm not convinced, and for peace of mind I'm instructing an electrician and a plumber to visit the property and check things over.

I then got a call from the estate agent telling me that the seller is unavailable until mid-July so we can't get the tradesmen over until then, as they won't give the estate agents access.

At the same time, we had contact from our solicitor stating that the seller is offering a completion date of the 4th July, this is too soon as the children still have school (as well as other reasons). 

So they are away until mid July, wanted to complete on the 4th, which I found odd as how can you complete if you are away and have now offered the 18th after we suggested the 22nd.... Ive stated that I won't agree a completion date until the checks and issues have been done and resolved.  There are actually some other issues but I've decided as they're not as important/urgent to deal with them after we move.

I guess my question is should i have relented or am I right to suggest these things need to be ironed out before completion? Should I be annoyed there was no indication they were going to be away during this process? And what should I do now? I feel stuck and concerned it's all gonna go tits up.