How to go about getting a mortgage?
Monday, July 26th, 2010 at
12:25 pm
My partner and I have rented flats/houses for about 6 years now and have decided it is time to try and get onto the property ladder. We graduated 2 years ago, and after working for various temping jobs (whilst chasing the dream), have now spent about 6months in full-time permenant jobs. Our combined income is about £33000. I don’t really know much about mortgages - any advise ??
I forgot to say that we live in England
Rent Back
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Tagged with: Full Time • Getting A Mortgage • Property Ladder
Filed under: flat mortgage
Here’s a great site learn more about mortgages:
If this is the only place you have for advice i’d suggest you do through somewhere like first mortgage (on the net too). At least then you have someone to sue if things don’t go right! I was lucky enough that my family had plenty experience and one member worked for a bank dealing with mortgages so knew what to look out for and I used a solicitor my family has used over 6 times now. All the best and it is a great step for you both x
A good place to start is visiting a couple of your local high street banks and discuss your options .
Most will give you an offer of mortgage so long as you can have your employment guaranteed as permanent.
It is always best to discuss these things face to face with someone who knows what they are talking about. You are under no obligation to accept any offer.
They would no doubt make it clear to you that any offer would be subject to the property being suitable , and you may not get 100% being first time buyers.
Give you facts and figures to Bank /Mortgage Adviser
Hi i work for an independant mortgage broker with acces to the whole market if you would like a quote or some advise email me on
speak to an independent mortgage advisor. i was in exactly the same position. the main problem we encountered was the job situation. a lot of companies look for a proven secure work history, sometimes 12 months. however we got a mortgage with few problems even though I’m a contractor. There are plenty of mortgage calculators on the net to get an idea of how much you can borrow, which allows you to see if there are affordable houses in your area. Make sure you get a mortgage advisor who is on commission rather than one that charges a fee. good luck
talk to all the banks and building societies in your area and get as info as possible and then go to an independent broker who will get you the best deal by far. my broker got me double what the banks offered and at a better rate too. you can’t have enough information. so research and study as much as you can.