Mortgages for First Time Buyers

[Louise07]

Im looking to buy a house with my boyfriend but mortgages and house buying are completely new to us so need some advise please.

Which lenders are best for 100% mortgages?

Are there any lenders that will incorporate all the upfront fees with the mortgage?

Thanks in advance

[clever trev]

Louise, dont want to be boring but just type mortgages
into your computer!!!! Im sure there are lenders that will pay upfront fees. The only advice i would give is dont go with a back street lender!! And providing you can prove you can meet the payments no reason why not 100%

It is better if you could find a small deposit, always read the small print on any douments that you may sign. and make sure to get a solicitor. thats the best i can do for you.
good look to you both.

[pingping]

hi louise, just been through all this recently as am buying a new house. best advise is to find yourself a good financial advisor (an indepent one who isn't attached to any lenders is best). We used one who was attached to our estate agent (although she worked independently to the agency). she was able to show us the best deals from over 200 lenders, without us needing to go around each one individually so saved a lot of time and effort for us.

Also, get a fixed-rate mortgage not a 'tracker' as tracker rates are connected to the Bank of England rate, and if the BofE puts its rates up - then your mortgage rate will go up too. If you get a fixed rate - then it won't change regardless of what the BofE rate does.

If you don't intend to live in the house for more than a few years, you should also consider an interest-only mortgage too as this will cost less in monthly repayments, and would give you a bit extra do buy furniture and do some DIY.

many lenders will consider lending you enough to include your fees, so mention this to your financial advisor.

good luck!

[LostSheep]

Use this website to find an independent financial adviser -

http://www.sesame.co.uk/consumer/default.aspx? navid=205