First time buyer mortgage help

[alarm man]

Don't get me wrong I have massive sympathy for hard working people who have lost their jobs and thus their house. The particular repossessions I have looked at have all been empty and clean. The rules regards selling repossessions as it stands are that even after an offer has been accepted, the offer amount must be advertised and the house remain on the market for a specified length of time. I believe it is 7 days. In a way its no different from a property auction, albeit a lengthy one!

then everythings fine man,like i say its just my opinion..

 

[robsparky1975]

You dont need to feel pushed into anything as far as using an in house advisor,its normally free and just advice,they will be looking to get you the best deal,and a mortgage promise from the lender,the quicker you get the deal and buy your house the quicker they get their commision,so it is always in their interest to find the right"product" for you,shop around for rates and shop around some more,check all that small print,i started out my ftb 99%,its hard work for people to get on the ladder now,generally 20% deposit and upwards,more deposit = better interest rate,have u looked up the one account,that can save u a few quid in the long term.just be careful on the ones that offer a great rate for 2 years,then variable after that,in fact maybe i could be an advisor lol,i took out a fixed deal 2 years ago before the recession kicked in and have actually lost out as the standard rate is a lot cheaper,damn wish i had a crystal ball,its a guessing game,variable=take a gamble,fixed rate=you know where you are for x years,but could lose out if rates are cheaper variable,this is where mystic meg would be helpfull,good luck anyway with your first home.

 

[tonys]

Me and the mrs are looking at buying our first home ( a repossession ). The estate agents are saying we need to see their in-house 'independent' mortgage advisor before we make an offer for the property.

This is what I think they are getting at. Estate don't and won't accept an offer from you unless yourve a got a mortgage in principal, so by getting you in quick to see their advisor they can get idea whether or not your a goodun.