Mortgage for first time buyers

In message , Simon Finnigan writes

Dont be fooled, the Halifax doesnt have 'advisers', they have salesmen whose job is to flog you a mortgage and (more importantly to the Halifax) also flog you loads of insurances they say you must have.

The income and existing credit that you have means that not all lenders will be able to help you, but there are still laods who can and with decent schemes. You need an IFA who specialises in mortgages. I am surprised you cant find one. Be aware though that many mortgage brokers arent TRULY independent. Try

The issue is that realistically we are looking at an interest only mortgage for the first few years - once we`ve both got a couple of years more done career wise then we`ll be able to repay the mortgage very easily, it`s just the first few years that are going to be tight. Is it possible to "overpay" on an interest only mortgage, to reduce the capital owing?

In message , Simon Finnigan writes

Yes, most will allow this. In effect your mortgage would have two profiles, the main bit would be the interest only mortgage and sitting on top of it, as it where, would be the bit used to clear the loans which you would repay by making an extra payment of the same amount you are paying on those loans now. You will save a wodge of interest. You need to ensure that your chosen mortgage will allow this, most will.

I know the Halifax will only be trying to sell me their product, but TBH I`m getting ed up of getting an appointment with an IFA, speaking to them and then finding what I would consider to be a major issue them, whether it be them paying no attention to what I`m saying (like the one who took my "absolute maximum" affordable monthly payment and used it as a starting point and went upwards rapidly) or the one who suggested fraud to evade stamp duty. Hence asking for a reccomendation from someone who has actually used an IFA in Liverpool, rather than a website.

You never did email me back to say what you were up to now !

Been sorting through my emails, you`re is now the top of the list to be replied to. Been stupidly busy with it. Just finishing off the final bit of training now, and having some very interesting experiences. I`ll email you today/tomorrow with details of the interestingness that is my job :-)