After discussion with the wife, she's basically asked why we need/would benefit from a mortgage advisor & is it worth the outlay. I don't know enough about them to answer the question so i'm asking here.
* We're FTBs (or will be). Neither of us have had a mortgage before.
* We'll have approx. a combined 48k-50k deposit. Based purely on me using online calculators, we're budgeting at 150k (so therefore requiring a 100k mortgage). Online calculators give results of £500pm +/- which we're happy with. For all i know in reality we may be able to afford more, maybe not.
I figured we'd just instantly go to a mortgage advisor. I'm generally better with figures & money & I don't really understand the ins & outs of mortgages & the missus certainly doesn't - (another reason for seeking advice).
I'm cautious about 'going solo' only to then make a mistake (cost!) or for things to take longer than they could (potential cost!).
The missus has read that advisors can charge up to 3% & many thousands. She's concerned that a large section of our deposit is going to in a way be wasted on something we could possibly do ourselves.
She's asked what do we get for our money? Will the advisor just look up what mortgages are available & say take that one - which is something we could look at ourselves & have a stab at which one is best if we could possibly understand the tables (we'd be going fixed anyway)? Or do these advisors do more than this?
Neither of us really know what to do & when. We have an idea of the process, but not when it should all be done & in what order. Pretty much .... we need our hand held.
I suppose i should stop short of "are they worth it" because that's subjective, but what do you get for your money really? What will they do for us beyond just saying - that mortgage is best...money please?
* We're FTBs (or will be). Neither of us have had a mortgage before.
* We'll have approx. a combined 48k-50k deposit. Based purely on me using online calculators, we're budgeting at 150k (so therefore requiring a 100k mortgage). Online calculators give results of £500pm +/- which we're happy with. For all i know in reality we may be able to afford more, maybe not.
I figured we'd just instantly go to a mortgage advisor. I'm generally better with figures & money & I don't really understand the ins & outs of mortgages & the missus certainly doesn't - (another reason for seeking advice).
I'm cautious about 'going solo' only to then make a mistake (cost!) or for things to take longer than they could (potential cost!).
The missus has read that advisors can charge up to 3% & many thousands. She's concerned that a large section of our deposit is going to in a way be wasted on something we could possibly do ourselves.
She's asked what do we get for our money? Will the advisor just look up what mortgages are available & say take that one - which is something we could look at ourselves & have a stab at which one is best if we could possibly understand the tables (we'd be going fixed anyway)? Or do these advisors do more than this?
Neither of us really know what to do & when. We have an idea of the process, but not when it should all be done & in what order. Pretty much .... we need our hand held.
I suppose i should stop short of "are they worth it" because that's subjective, but what do you get for your money really? What will they do for us beyond just saying - that mortgage is best...money please?