An example came to my attention this week, why it would be useful for First Time Buyers to talk with a mortgage broker.
A young lady had just given up an employed position to do the same job on a self-employed basis. Lenders require a two year history before they will lend to a person who is self-employed. In this situation we could have obtained a mortgage for her before she had gone self-employed. Income was not going to be a problem, so this was not irresponsible lending, just sound practice.
As long as a broker is not going to charge a fat fee, have a meeting to discuss future plans.
