Buying your first house - independent mortgage advice

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  • Juninho 14 Mar 2005 11:40:41 1,825 posts
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    So then, gonna take the plunge soon.

    Where is a good place to get independent mortgage advice? And where to avoid like the plague?

  • deem 14 Mar 2005 11:42:58 31,641 posts
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    Post deleted
  • unwashed 14 Mar 2005 11:43:49 1,857 posts
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    From what I've heard don't take advice from your estate agent, they're inevitably tied to one company and take commision. Also feel free to ask you adviser what links they have to a company, and about the commision they get.

    Finally, remember it's about the amount you pay back each month, don't let them baffle you with interest rate percentages.
  • ssuellid 14 Mar 2005 11:46:00 19,141 posts
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    Ask about for recommended local independent financial advisors. Try work collegues or friends.

    They make life a lot easier - fill in the forms for you and handle the contact with the lender. All we had to do was say what we wanted to borrow and then let the advisor go off and find a selection of mortgages.

    He filled in the forms and we just signed them and handed over a few wage slips etc and that was it.

    Edited by ssuellid at 11:48:04 14-03-2005
  • pjmaybe 14 Mar 2005 11:48:05 70,676 posts
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    Be VERY careful if you decide to go for a broker...friend of mine is currently stuck in completion hell with his new house because the vendor is unsure of the broker he used (who offsets the interest payments against the american dollar market for some bizarre reason)

    Peej
  • mentat 14 Mar 2005 11:49:21 5,613 posts
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    have a look at www.fool.co.uk too...
  • bloke 14 Mar 2005 15:09:51 1,489 posts
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    Bill Door wrote:
    Buy a copy of one of the (many) mortgage magazines that are around- they spell stuff out in simple language for the uniniated.

    WHS

    It's the biggest financial committment of your life, so you should make sure you understand it fully. The mortagage market isn't really that complicated - just get your head around the jargon and don't get embarassed by asking stupid questions.

    Good luck :-)
  • Deleted user 14 March 2005 15:24:15
    Avoid 'independant' advise from the estate agent, and don't let them set up your mortgage for you, OR solicitors, OR anything for that matter. Decline everything they throw at you, they only want you money...

    They are the most sneaky backstabbing bastards on the planet... Don't rely on them for ANYTHING...

    And don't get an endowment based mortgage, get a repayment... It's not worth the risk...


    And What Bill Door and Bloke said are about right.
  • mcmonkeyplc 25 Mar 2010 11:18:18 39,515 posts
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    Right seeing as some fucker keeps derailing all the housing threads for first time buyers I've had to resort to stealing this.

    Now seeing as mr Darling has increased the threshold for stamp duty to 250,000 I had a quick look at properties and mortgages. Low and behold I can actually afford the fuckers now. Only 1 bedroom mind, but it's a start.

    So anyone got any advice on where to get a good idea on mortgages?

    I've tried this although I'm not too sure how reliable it is.

    Also looking futhur down the line anyone know of anywhere that does decent furniture packages for homes?

    Thanks

    Come and get it cumslingers!

  • Dougs 25 Mar 2010 11:22:28 69,104 posts
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    Ikea is always your best bet for cheapo furniture. It's pretty decent for the price - just don't expect solid oak! Perfect for furnishing a first house though.

    Morgages - IFAs are always a good bet. Lovemoney/fool used to do a decent summary of the different mortgages etc
  • mcmonkeyplc 25 Mar 2010 11:25:27 39,515 posts
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    Yuck! Ikea?! I guess it's inevitable.

    I am surprised to see that banks are giving out 100% mortages again. These should be fucking banned! No surprise that it's only government owned banks that are though.

    Come and get it cumslingers!

  • mcmonkeyplc 25 Mar 2010 11:26:53 39,515 posts
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    Smuggo wrote:
    I'd be wary of this stamp duty holiday. Prices often cluster below the duty thresholds, so you may find sellers who were pricing just below £125k will now expect more.

    The limit was 175,000 before wasn't it?

    Also I dont think anyone in there right mind would want anywhere near the 250,000 price for a 1 bed flat in Twickenham. :)

    Come and get it cumslingers!

  • mrpon 25 Mar 2010 11:27:25 29,427 posts
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    Dwell do some nice contemporary stuff monkey, if Ikea isn't to your taste.

    Give yourself £5 or ½ gig, you're worth it.

  • Dougs 25 Mar 2010 11:27:35 69,104 posts
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    Some Ikea stuff is really good, great for kitchenware etc. Other stuff I don't like as much but it's better than the garbage sold in Argos, MFI before they went under etc.
  • mrpon 25 Mar 2010 11:29:11 29,427 posts
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    Dougs wrote:
    Some Ikea stuff is really good, great for kitchenware etc. Other stuff I don't like as much but it's better than the garbage sold in Argos, MFI before they went under etc.
    Yup, great range of glassware, crockery etc. It's a good starter home place in my opinion.

    Give yourself £5 or ½ gig, you're worth it.

  • mcmonkeyplc 25 Mar 2010 11:31:12 39,515 posts
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    I like Ikea stuff, it's the god damn store that does my head in. Im allergic to it. I have the urge to run away as soon I enter their stores.

    Come and get it cumslingers!

  • Beeper85 25 Mar 2010 11:35:00 135 posts
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    Absolutely delighted about stamp duty announcement yesterday. Just exchanging contracts now for house of 227000 so a nice bit of cash saved for me!
    that wasn't expected!!
  • JuanKerr 25 Mar 2010 11:35:48 36,423 posts
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    Ikea stuff is fine for a first house or if you're on a limited budget, but when you start seeing EXACTLY the same stuff in other peope's houses, it's a bit depressing.

    Plus, I love wandering around old antique shops looking for one-off stuff :)
  • mcmonkeyplc 25 Mar 2010 11:38:12 39,515 posts
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    Smuggo it was definetly £175000.

    You sure you dont want to get me a job at yours? :p

    Come and get it cumslingers!

  • mcmonkeyplc 25 Mar 2010 11:39:09 39,515 posts
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    Right then now onto legal fee's. How much do these bad boys cost?

    Come and get it cumslingers!

  • mrpon 25 Mar 2010 11:41:28 29,427 posts
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    Shop around, my sister is in the business so I get my conveyancing for £235. Searches are extra.

    Give yourself £5 or ½ gig, you're worth it.

  • mcmonkeyplc 25 Mar 2010 11:45:20 39,515 posts
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    Well what the hell is that shit I linked to about then?

    Come and get it cumslingers!

  • mcmonkeyplc 25 Mar 2010 11:50:32 39,515 posts
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    Smuggo wrote:
    mcmonkeyplc wrote:
    Well what the hell is that shit I linked to about then?

    Dunno, didn't even look at it as I knew you were wrong.

    Try looking at it then.

    Come and get it cumslingers!

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