Please share your wisdom with me!

[cartercan]

I've only ever rented property and never owned before but a family member has offered to give me money for a deposit so I can buy my own home.

I have no idea how it all works though. I've my first appointment tomorrow with a mortgage advisor at an estate agents and I've got two house viewings on Saturday. Okay, I probably shouldn't be looking at houses yet but one of the viewings I've arranged for Saturday, well, I desperately want the house! Now, I do realise that it's not going to happen with this particular property as I haven't seen or spoken to anyone yet regarding a mortgage but I'm just so confused about how the whole process works.

So just looking for advice from my fellow MNetters!

Martin Lewis on www.moneysavingexpert.com gives you all the info you need and a timeline. Search around for the best mortgage. Best rates are often listed in the Sunday Times finance section. Do you have no family members with advice?

Essentially take it step by step. There are always problems along the way. The above web site includes a mortgage calculator so you have an idea about how much you can borrow.

@BubblesBuddy I've spent hours looking online and trying to understand how it works.

I think I'm very stupid. I just can't make sense of any of it and find the whole thing utterly confusing.

You really do need to know what price you can go to before looking.

You then need to work out the fees you’ll incur...Totally agree with Pebbles about MSE....it’s all on there.

You can also look here
www.rightmove.co.uk/advice/buyer/mortgages-financing/

They’re your first steps.

@QuirkyKate

Said family member is no longer giving me the money for a deposit now so it's a no go anyway but thanks for your help!

Aww, that's not nice that you were made to get your hopes up like that

Oh Carter.
I’m sorry. That’s not very nice unless there are things going on behind the scenes such as illness that you/we don’t know of.
So disappointed for you.

Thank you both.

I did get my hopes up but that's my own stupid fault.

Trying not to be too upset about it.

Keep reminding myself that, at the end of the day, it was a kind and generous thing of said family member but in no way expected and it's their money and not mine.

YOU didn’t get your hopes up.

Someone else did.

Please don’t put yourself down. Please stop thinking you’re stupid. You’re not, you haven’t experienced house-purchasing & to a newbie it is daunting.

You’re not stupid for believing what you were told. There’s a classic MN saying....this says more above them than you.