I think we are ready to buy but how?!

Brokers are "free" to you.  They get paid by the mortgage company.

But yes, you will be out for solicitors, surveys, searches, etc., long before the sale actually goes through.

Personally, I'd advise against viewing before you know for certain what you can afford.  If you do like the place, they are unlikely to take you seriously if you haven't spoken to anyone regarding a mortgage yet.

And there are a million and one questions you need to ask and things to look for.

Also, you dont want to fall in love with a place you cant afford and end up comparing everything to that one house 

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Also, you dont want to fall in love with a place you cant afford and end up comparing everything to that one house 

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Yup, exactly what I would not view anything until you know what you can afford *for certain*.

Also, you dont want to fall in love with a place you cant afford and end up comparing everything to that one house 

Yup, exactly what I would not view anything until you know what you can afford *for certain*.

Totally!  Before we had our agreement in principle, we'd done one of those online mortgage calculators based on my husband's salary and my income, and thought we could afford to borrow about £30k more than we ended up being able to.  If we'd fallen in love with a house at the higher price, only to "lose" it because we couldn't afford it would've crushed me.

The good news is we ended up borrowing less than our means, so our mortgage payment is less than we'd previously been paying in rent, and much of it is going toward equity (assuming our house retains its value in these crazy times).

My only advice is to shop carefully for your mortgage broker.  If I remember correctly, some are paid in different ways than others and some can access a much wider variety of possible mortgages.  Do some research and find out for sure what kind of advisor you want.  There actually is a big difference. 

It's probably worth talking to your bank as well, HSBC ended up being a good deal for us.  I'm not on the electoral roll and it wasn't an issue for us. 

Just wanted to add some info I actually learned today. HSBC quotes will not be pulled through an insurance broker but can be very competitive.

Apparently they are such a large bank they don’t feel the need to use brokers.


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Brokers are "free" to you.  They get paid by the mortgage company.

But yes, you will be out for solicitors, surveys, searches, etc., long before the sale actually goes through.

Personally, I'd advise against viewing before you know for certain what you can afford.  If you do like the place, they are unlikely to take you seriously if you haven't spoken to anyone regarding a mortgage yet.

And there are a million and one questions you need to ask and things to look for.

Don’t mean to step on this persons foot or maybe I should start a new thread but finding this all very interesting.  I’ll be moving to Scotland in February and plan on buying a house.   I’ll be staying with my cousin until I find something.  Any advise or how it works in scotland for buying a house and how long it takes.  I’ll have enough to buy one outright ....or should....I’m looking at max £110 000......any advise would be helpful or letting me know if I should start my own thread

Just wanted to add some info I actually learned today. HSBC quotes will not be pulled through an insurance broker but can be very competitive.

Apparently they are such a large bank they don’t feel the need to use brokers.


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That’s who we got our mortgage through.  They were great.  My visa was no problem, my name is on the mortgage.  Now mind you, we paid in about 65% as down payment and our money comes from retirement, which apparently makes us very attractive to lenders.  But we got a great rate and a 15 year mortgage even though my husband is 71.  Brokers wouldn’t touch us.

Okay, I think i have a grasp now.

We have been having long thoughts going back and to about what to do.

We currently rent. It's £725pm and it's in a nice neighbourhood and my wife makes use of the good rail links into Liverpool where she works. So we need a house near to a railway station as she doesn't drive. Our landlord has offered the house to us at £160k which is actually very well priced for the area. It needs work but it's nothing structural. Things like; new front door, new front windows, a few radiators, carpets.

OR do we push the boat out more and go for something around the £190k mark which is more of a finished product with a large garden for our little one. Our garden is pretty small and pathetic and she just loves running (as most 2 year olds do). We done online calculations and they say we can afford £240k.

With a £190k mark that puts a mortgage around about the £680pm area which is only a small saving compared to our current rent but a better house. Or, if we buy our current house it will put our mortage at around the £490pm mark, a huge £235 saving compared to our rent.

We're looking for mortgage brokers currently to get a application in principle but it's difficult to find one you can trust without word of mouth.

Okay, I think i have a grasp now.

We have been having long thoughts going back and to about what to do.

We currently rent. It's £725pm and it's in a nice neighbourhood and my wife makes use of the good rail links into Liverpool where she works. So we need a house near to a railway station as she doesn't drive. Our landlord has offered the house to us at £160k which is actually very well priced for the area. It needs work but it's nothing structural. Things like; new front door, new front windows, a few radiators, carpets.

OR do we push the boat out more and go for something around the £190k mark which is more of a finished product with a large garden for our little one. Our garden is pretty small and pathetic and she just loves running (as most 2 year olds do). We done online calculations and they say we can afford £240k.

With a £190k mark that puts a mortgage around about the £680pm area which is only a small saving compared to our current rent but a better house. Or, if we buy our current house it will put our mortage at around the £490pm mark, a huge £235 saving compared to our rent.

We're looking for mortgage brokers currently to get a application in principle but it's difficult to find one you can trust without word of mouth.

A house is an emotional purchase.  Only you can decide. 

A house is an emotional purchase.  Only you can decide. 

Don't give me the political answer KFdancer 

I think we're leaning towards our current house. £490pm is so good. It'll be such a welcomed relief especially when we're planning to have another baby.

Also, our current house is on a cul-de-sac which I love.

Don’t mean to step on this persons foot or maybe I should start a new thread but finding this all very interesting.  I’ll be moving to Scotland in February and plan on buying a house.   I’ll be staying with my cousin until I find something.  Any advise or how it works in scotland for buying a house and how long it takes.  I’ll have enough to buy one outright ....or should....I’m looking at max £110 000......any advise would be helpful or letting me know if I should start my own thread

All different in Scotland!!!  It's a lot quicker, usually on 4-6 weeks. Home reports are required in advance by the owner, and gazumping isn't a thing, because properties are taken off the market once an offer has been accepted. 

You need solicitors in Scotland to do it all, really and they pretty much do it for you.  You just sign. 

https://www.which.co.uk/money/mortgages-and-property/scottish-and-northern-irish-property-systems/scottish-property-system/buying-a-house-in-scotland-amhwg6p889qz

All different in Scotland!!!  It's a lot quicker, usually on 4-6 weeks. Home reports are required in advance by the owner, and gazumping isn't a thing, because properties are taken off the market once an offer has been accepted. 

You need solicitors in Scotland to do it all, really and they pretty much do it for you.  You just sign. 

https://www.which.co.uk/money/mortgages-and-property/scottish-and-northern-irish-property-systems/scottish-property-system/buying-a-house-in-scotland-amhwg6p889qz

Thanks phatbeetle....very helpful.....one question....what does chain mean when talking about buying a house?

It's when you're trying to buy a house, but the person you're trying to buy from is also trying to buy a house and they can only sell their house to you if their purchase goes through on the house they're trying to buy. And it can all fall down.   You can have it actually be many houses long sometimes!

Okay, I think i have a grasp now.

We have been having long thoughts going back and to about what to do.

We currently rent. It's £725pm and it's in a nice neighbourhood and my wife makes use of the good rail links into Liverpool where she works. So we need a house near to a railway station as she doesn't drive. Our landlord has offered the house to us at £160k which is actually very well priced for the area. It needs work but it's nothing structural. Things like; new front door, new front windows, a few radiators, carpets.

OR do we push the boat out more and go for something around the £190k mark which is more of a finished product with a large garden for our little one. Our garden is pretty small and pathetic and she just loves running (as most 2 year olds do). We done online calculations and they say we can afford £240k.

With a £190k mark that puts a mortgage around about the £680pm area which is only a small saving compared to our current rent but a better house. Or, if we buy our current house it will put our mortage at around the £490pm mark, a huge £235 saving compared to our rent.

We're looking for mortgage brokers currently to get a application in principle but it's difficult to find one you can trust without word of mouth.

I, personally, would not borrow near the top end of what the calculators say you can afford.  Live within your means and save for retirement.  But between buying your current rental or buying something a bit more, consider that you're currently without a chain.  This makes you an attractive buyer because you won't slow down a transaction.  The next time you go to buy a house, you'll likely need to sell one first, which makes it much more difficult.  So for this house purchase, get all the things you want/need.  If your garden now is too small, go for one with the garden you need for your child to run and play in, etc.  If you might have more children, consider an extra bedroom or two, and another bathroom.

I'm not suggesting buying the house you ultimately want to retire in, but do consider the things your family needs for the next ten years or so, at least.

All different in Scotland!!!  It's a lot quicker, usually on 4-6 weeks. Home reports are required in advance by the owner, and gazumping isn't a thing, because properties are taken off the market once an offer has been accepted. 

You need solicitors in Scotland to do it all, really and they pretty much do it for you.  You just sign. 

https://www.which.co.uk/money/mortgages-and-property/scottish-and-northern-irish-property-systems/scottish-property-system/buying-a-house-in-scotland-amhwg6p889qz

Thanks so much for this info/link PB! We will be moving down to the central belt (aka civilisation!!! ) next summer + buying our first home and I had absolutely no idea about the differences between England/rUK and Scotland. This was really helpful!