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| Mortgages Mortgages lending and lendors - your mortgage experiences, questions, and discussion. |
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Hi,
I am planning to buy my dream home next month. Well, if everything goes as planned then this would be my very first buying as far as such a big thing is concerned. Well, I am gathering all the information regarding first time buyer deals on Internet. Actually, I read that there are some formalities involved in it. I hope that it wouldn’t take much of my time, as I can’t afford to do that due to my busy schedule. One of my friends suggested me about this forum. I hope to get all the relevant information related to First time buyer mortgages or first time homeowner loans from this forum. I hope I’ll get some valuable suggestions and tips from this forum also. Thanks Last edited by brian; 08-14-2006 at 07:06 PM. |
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There are loads of mortgages open to First Time buyers, do you have a deposit?
I am happy to help you as I am a mortgage adviser and if you wanted me to do your mortgage for you I would not charge a fee. Either way I am happy to advise you. Stevo |
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I ended up going with the financial advisor at one of the Your Move branches - she was the only person who made sense, as many of the high street banks simply put me onto low-end staff who couldn't answer my questions. The woman at Your Move was able to answer and advise on everything I needed.
They act as a brokerage, so there was a choice of options, and although the first one we went for wouldn't take me on because I didn't have enough of a credit rating history, she offered a second choice that seems to be working out. ![]() |
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The good news is many businesses are moving to a relationship salemenship - what thet means is they are becoming more concerned about keeping you as a long term custimer as less ocncerned about an immediate transaction. It's a seed planting concept that is reaping long term rewards for those that are putting people first.
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First time homebuyers usually get a rate that's not too bad. You have the opportunity to purchase your home for little to nothing down. Perhaps you have heard of Freddie Mac and Frannie May. They are a buyers best friend.
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Be prepared to sign lots and lots and lots of papers! We even had to sign a paper that said we agreed to come in and sign other papers if they needed up to. It was crazy.
My suggestion would be to not rush it. Shop around, take notes and remember that all similar looks at your credit within a certain time frame will only show up as one hit so you won't take a credit report hit for checking with multiple brokerages. |
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