First time buyer help
Hi all, just looking for some information.
For context I'm a first time buyer, I currently have a credit score of 755, I've never missed a payment and the only debt I've had is related to car finance/one loan.
I recently spoke to a mortgage advisor which was recommended by a friend, the advisor asked for different bits of information which included salary (28k basic 35k ote)
After giving the advisor this information and using a site called check my file, I was told if I wanted a mortgage I would be looking at 14% interest which to me (like I said first time buyer) seems really high, I asked for context on this but didn't really get any answers to my questions so I guess me question to you lovely people is
- Is this a high rate or something that is completely normal
- Is there something I'm missing or haven't done causing this
- Did I get a bad advisor
Thank you for any responses, if I missed something which would help please let me know