First Time Buyer Advice

[clipclop1]

Hi everyone I would just like some advice from those of you who have been through this mill already!
My other half and I are looking to buy our first place together and our budget is going to be about £170,000 with £20,000 to put towards it also.

I'm always suspisious when people try to sell me things and when I've been ringing these estate agents all of them are pushing their mortgage advisers at me, all of which I have said a big NO THANK YOU to and am planning to do my own research into brokers etc (hence why i'm asking the real people who have been through it!)

I'm expecting that the buying costs will roughly amount to £1000-£1400 depending on what we go for but a 'dummies guide to buying a house' bit of info would be good if any of you would like to share!
Thanks in advance!

[woofgang]

I am not sure why you need a mortgage broker, can you not approach banks and building societies yourself to find out who would lend, how much and what it would cost?

[clipclop1]

Lol that's kinda why i'm asking Woofgang! To see what people have used and would/wouldn't recommend!

[anneasquith]

I havnt any advice, but nice to see you posting . is mum well ? :)

[Psybbo]

My daughter used Halifax and was very pleased with them

[clipclop1]

Haha thanks! Yeah my last post kinda put me off AB for a good 18 months!
Nice to hear from you though, are you keeping well?
Yes she's good thanks! Enjoying being a grandma for the second time courtesy of my big bro and now I'm based down south with a new job that I'm really enjoying!

[clipclop1]

Oh thanks psyboo.... Ive heard good things about them and Natwest!

[gingejbee]

Nobody does advice better than Which?:

http://www.which.co.uk/money/mortgages-and-property/guides/buying-a-house-a-step-by-step-guide/

[BRIGHT SPARK]

Dont forget the stamp duty of 1%...£1700 on your budget price,,,and budget for a rate increase in the near future.

[clipclop1]

Oh thanks for that link! Extremely helpful!

Yeah.... I'd love to find a decent place for under £125,000 but, in Hampshire, that's never gonna happen!! Grrrr!

[rosyherb]

a Broker generally charges a fixed fee, a Financial adviser will get a payment from the company you go with (they are required to tell you how much etc), both will have access to deals not available from the in house estate agents financial person, they usually are limited to associated products of their employer. find a product (financial deal) you like get a 'mortgage in principle', then you don't have to go thru all your finance with every agent you go to... you have proved you are in a position to put in an offer.
you pay stamp on the purchase, but check (your solicitor will do this) for any deals for 1st time buyers. We have bought and sold about 10 properties in the last 30 years.

[sandyRoe]

There'll also be legal costs and the cost of the survey.

[clipclop1]

Thanks very much guys!!
All your advice has been great in helping ensure that we'll know what to expect !