Am a first time buyer, looking to buy a property on my own. (In UK )Can anyone give me advice where they got there mortgages, who does good deals, what repayments are like, how much they would lend etc. Thanks!
2007-03-02 02:35:18 · 6 answers · asked by Kiwi Angel 2 in Business & Finance ➔ Renting & Real Estate
See which bank or building society offers the lowest APR. I know that in the UK, this rate floats around 6%. Check out this website, they offer 4.7%
https://www.beatthatquote.com/apply/loans/compare_cheap_loans.html?source=google&keyword=loan
If you want go to alliance-leicester in your town, they also have a good rate.
Anywhere you go, read the terms and condition well since you may end up to pay higher payments, if they set the interest rate in the mannar that they like.
good luck
2007-03-03 16:24:22 · answer #1 · answered by monzavim 2 · 0⤊ 0⤋
I got the mortgage advisor in the estate agents to sort mine out because i was having a problem with borrowing enough money by just applying over the internet or asking independant banks, it wasnt i couldnt afford what i wanted they just would not lend more than 3.5 times my salary, hence why i let the advisor do it. They have good relationships with mortgage lenders and have a far higher chance of being able to convince them to lend you the money, more than what you can. I borrowed about 110% to pay my solicitors fees etc, i was a first time buyer and the rate is fixed at 5.69% with Northern Rock. Rate is fixed for 5 years but i can sell or re-mortgage after 3. A 5 year fixed may sound a long time but considering you cant trust the Bank of England as far as you can throw them with regards to interest rates im quite happy knowing my rate is safe. I think i got a good deal. This was last year.
2007-03-02 02:49:08 · answer #2 · answered by rose 3 · 0⤊ 0⤋
Go out and get yourself an appointment with an independant mortgage advisor. It won't cost you anything, they will sort out surveys and solicitors and they will help you get the best mortgage for you.
There is no need to do it alone, they make it really easy. I used 'First Mortgage' but I'm sure that they are all similar.
Don't go via a bank or a bank's mortgage advice as they can only advise on their own mortgage products. They can't look at the whole market.
2007-03-02 02:45:00 · answer #3 · answered by SmartBlonde 3 · 0⤊ 0⤋
Definately go to reputable companies like banks or building societies who can offer you competitive rates.
When we bought our first and second home we were offered discounted rates, on our payments, for the first five years.(Nationwide BS)
This was a massive help, especially when you are getting used to paying a lot of bills for the first time.
If i was you, it would be worth your while asking if lenders offer this service.
Im afraid like everything you will have to shop around and see what is out there.
Good luck and happy house hunting!!
2007-03-02 08:12:47 · answer #4 · answered by sarahjanec 3 · 0⤊ 0⤋
Depending on your earnings and what you have available for a deposit will affect what's gonna be the best option for you. Initially I'd have a chat with an independent mortgage adviser and see what he/she thinks judged on your personal circumstances!
2007-03-02 02:44:11 · answer #5 · answered by Smarty 6 · 0⤊ 0⤋
check out 'rightmove.co.uk'
and you will find links from there
2007-03-02 02:40:22 · answer #6 · answered by qwerty 3 · 0⤊ 1⤋