getting a first time mortgage?

[barbarp]

Having just gone through the horrors of this {i have no finger nails left..none..!}
Here's a couple of things I found out..

The Britannia building society are very nice and well worth a look! I can't praise their counter staff enough especially the lady who offered me strong coffee{I'd just come off a night shift}.
Their explanation of terms and details was very clear and they took time to go through all the concerns I had.
If you are a member of a union or any of the public services , they are well worth a look because they do special rates.

Lloyds were also good , but I found their staff quite difficult to get hold of and a bit over confident which made me anxious about how much they could really deliver on.

Lastly going through the estate agents to arrange your mortgage... , they will tell you they can compare all the rates and get you the best deal but I found there were lots of internet comparison websites that could do that {or you can do it yourself}.
I wasn't overly impressed by the fact that in several of them , I was being asked to discuss confidential information such as my income on an open shop floor where it could be heard by anyone and lastly, I found quite a few of them unbelievably pushy!
They were trying to add multiple features that cost more and more money , suggesting that we borrow over a limit we could afford and kept ringing to find out if we were going to go with them.
I think the bit that really annoyed me is that even though I'd asked them not to ring in the morning they did {my answers weren't repeatable in polite company}.

If anyone else is going to try and get a mortgage these are what I would advise.
1} Invest in a good book that explains all the terms.

2} get your last three months payslips together ready and photo ID/proof of address. Even better get on the electoral register.

3}Do the legwork first checking out banks and building societies, talk to friends and family to see who they will recommend then pick the top three and apply to them.

Good luck!

[Paul Carcone]

Getting a first time mortgage is never an easy business...but one other thing I would advise that everyone does is to check thier credit file with Experian/Equifax before applying.

I had a nightmare a few years back when an erroneous entry was put on my account and this held up my mortgage for weeks whilst I had the entry removed.

BB is right about prior research...the more that is done...the lesser the chances are of choosing a bad deal or items that you neither want nor truly need.