Taking Out A Mortgage

I'm looking to buy a house and I was hoping for a bit of advice on Mortgages and Mortgage brokers in Cardiff.

Would you recommend speaking to a Mortgage broker about taking out a Mortgage and does anyone know of any good Mortgage brokers in Cardiff?

I've Google'd Mortgage brokers in Cardiff, but all the websites on page 1 look pretty poor and that's never a good sign!

Any advice is greatly appreciated!!!

Total mortgage network based in Newport!

Saved us a shed load!

Total mortgage network based in Newport!

Saved us a shed load!

Nice one mate, I really appreciate that.

I'm doing a lot of research online, but I'm feeling like the potential to get ripped off is very high!!!

Total mortgage network based in Newport!

Saved us a shed load!

Nice one mate, I really appreciate that.

I'm doing a lot of research online, but I'm feeling like the potential to get ripped off is very high!!!

You will get ripped off because Mortgages are very hard to get these days unless you got a bid deposit

Showing my ignorance slightly how would you get ripped off or a mortgage broker save you money?

First of all try your bank.......they should be able to give you some figures. Then I would try Neil Soundy Financial Services on Albany Rd. Ive dealt with him for years......very helpful and will give you loads of options and advice.

Started off with a mortgage broker who we found quite useless, we were naive believing a first time property buyers we need the skill and advise of a mortgage broker, the realisation soon sank in and we dealt with it ourselves. I do suggest speekinf to a mortgage broker or mortgage advisor so that they can study your income, work etc... So they best advise you in which type of mortgage to take and your realistic budget. Now that did help us a lot.,

Going back a few years at the height of the mortgage boom and stupidity like 125% mortgages we used a broker who basically told us what to put on the forms to get the best mortgage even though our circumstances probably weren't good enough at the time, might have been the exception and we got lucky with it but I'm sure others got themselves onto financial difficulty.
Since then I've always discussed it with the in house broker (at estate agents) tthen gone to a couple of banks direct

Best thing is to talk to a bank and/building society first.If you get a mortgage with them its likely to be one that suits you best.With any third party broker your mortgage will almost certainly incorporate his fee which can be quite sizeable believe me.Another thing most leaders are bringing in what they call a stress test.This is designed to examine your ability to repay your mortgage should the interest rate rise to say something like 7%.Most brokers can get you a mortgage but the extra hidden cost can be significant.If in doubt get them to outline clearly what their cut is for brokering a mortgage for you.you may well be in for a surprise.Not unlike solicitors fees for conveyancing,extortionate for doing a job most people could do with a modicum of intelligence.

The comparison sites are the best place to start looking at potential borrowing amounts, rates and repayments. They will give you a really good indication on your borrowing and you can gauge pretty quickly on how much you can afford to borrow.

This will prepare you much better to meet mortgage brokers etc as there is less chance the wool can be pulled over your eyes.

I know the applications etc have changed a lot since i did this 8 months ago but in all honesty, with a little bit of sense about you, you don't need a broker. I would go to your bank first off then people like Halifax, Nationwide and other Building Societies, who are generally better priced.

We went to my girlfriends Bank Santander and he didn’t have a clue, he basically said we would need 20k to borrow 100k which is nonsense.

We went to a financial advisor from an estate agent in Barry, free and they can give you a lot of information even if you don’t end up going with them it’s useful. We found out with the government scheme we can get a mortgage of just over 125k with a 5% deposit.

It’s worth investigating the government schemes especially if you don’t have a huge deposit.

Showing my ignorance slightly how would you get ripped off or a mortgage broker save you money?

surely if they give you the wrong advice then its paying for a wank service..?