Help for mortgage, independent financial advisor and putting in an offer on a house.?
I went to 3 banks for mortgage quotes, halifax, hsbc and alliance & leicester. Halifax could borrow me the most money, then hsbc, and then alliance & leicester.
I then looked around for some houses and the estate agent that i booked some viewings with had an independent financial advisor (IFA) working there.
He told me he could get me a better mortgage by carrying out a gifted deposit where no money would change hands, it is just a transfer of money and then i would avoid paying a higher lending charge and the monthly payments would be lower. He said he wouldnt charge me as a first time buyer, he just gets paid a fee by the bank (eg halifax).
Ive also seen a house i like, it is on the market for £110,000 but the couple are desperate to go out by september and received an offer for £95,000 a few months ago, considered it but declined.
So what i want to know is what would be a excellent offer, is an IFA better than a bank to arrange a mortgage and how does the gifted deposit work?
i got my offer accepted for 101grand, there was another offer at 100 but they accepted mine!
will see IFA sat morning and will not get information but not make a choice til im certain.
A few people i know recommend an IFA.
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Tags: amp, banks, first time buyer, gifted deposit, hsbc, ifa, independent financial advisor, leicester, money, mortgage quotes, quotesTags: amp, banks, first time buyer, gifted deposit, hsbc, ifa, independent financial advisor, leicester, money, quotes
It is a common practice an you should go with the lower interest and the less money down…kr
Excellent Luck!