Mortgage Advisors - First Time Buyer

[user1473252470]

We finally have enough for a deposit for a house and plan to buy a new build with the Help to Buy loan as we can get a much bigger house for our money - but as first time buyers this process is new to us.

My question is, should we go for our local mortgage broker who can advise of any changes we need to make before getting a mortgage in principle, although this will cost anywhere between £200 and £700 OR do we go for one of the free online mortgage brokers?

Both DH and I are in secure jobs but do have a couple of credit cards so I’m not sure which would be the best way to go?

Does anyone have any recommendations? I feel quite in the dark about it all but want to move forward - especially as I think I’ve found our dream home!!

Any advice would be much appreciated

Our mortgage advisors fees come from the mortgage company, so we don't have to pay him anything. We found him when we were looking for houses as he worked for one of the estate agents. We didn't buy with that estate agent but he did our last mortgage and is currently doing our remortgage. Still no fees he gets over £500 from the mortgage company for arranging it.

Ah I wish our local advisor worked like that but they all want quite high payments. Did you find using someone local quite informative / useful?

If you don't pay they're not usually whole of market, they're paid commission to sell you particular products. Go to a whole of market independent financial advisor. It's £200 well spent. How much is on the cc? They're likely to tell you to clear it unless it's really insignificant (couple of hundred pounds)

We didn't pay a fee for our broker. Online can be good if you are straight forward. If you have debt, payday loans or self employment they don't deal well with none tick box applications.