Getting a first morgage

[Becci_h]

Hi to you,

I would like to ask anyone 'in-the-know' about morgages for a 1st time buyer. I don't want to go to the lenders completely un-educated on the subject - but i'm afraid thats what I am at present!

I would like to know what my chances are of getting a 100% morgage.

I am a 22 year old and I have just started a new job (�25,000)  I guess by the time i am actually ready to get the morgage and move I would have been working in my current job for 3 - 6 months.  I also have a partner who may consider contributing into the morgage - that would probably give a joint income of �35-38k (he has worked in his job for several years - and is 23 years old)

who is likely to give me one - how much am I likely to get and where are the best placed to go?

Thankyou to anyone who can help.

[AliFlump]

Im in Yorkshire and used a Company called Mortgage Talk who sorted everything out for us, from getting the best mortgage to sorting the solicitors and everything we needed and it didnt cost us a penny. we were first time buyers too. There maybe one near you. Have a look in the house section of your local paper. Thats where we found them

[larakitten]

Hi Becci_h

Your best bet would be to talk to an IFA, or independant financial adviser.  These guys will be able to talk you thru all your options with most high st lenders....and some specialist lenders too.  They are not tied to any one company, so can give you impartial advice.

Most mortgages work on the premis of 3.25 x main applicants income plus 1 x second applicants income, however there are many variations on this.  The company i work for also look at your credit score, and relationship with us, which may allow us to lend more.  Of course, this is dependent on where you live, for example the multiples will be much higher in London.

I would definaltely recommend independant advice, good luck and let us know how you get on!

xx

[Becci_h]

Thanks for the advice guys!

AliFlump, I checked out the mortgage Talk place online - it looks like it might be quite helpful, although - just my luck, it was down at the time due to 'essential maintenance' !! But they did give me a free phone number, so I will try that out at the weekend. Thanks for the tip.

Larakitten, You also have a good point, as the Mortgage Talk place don't anywhere state that they are in anyway indepenent, and I noted that they offer mortgages themselves, so I will remain aware of that. I will definatly get some independant advice before actually signing anything.  At the moment I am just putting my feelers out and trying to get as much info on this scary subject as possible.   :o)