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  • FIRST POST
    • kingstreet
    • By kingstreet 26th Feb 14, 12:56 PM
    • 31,447Posts
    • 16,806Thanks
    kingstreet
    The Broker Blues Thread
    • #1
    • 26th Feb 14, 12:56 PM
    The Broker Blues Thread 26th Feb 14 at 12:56 PM
    Today, I've had a HTB - EL enquiry, I've had to turn down. He's got £200k deposit, wants to buy for £395k, but can't understand why he can't borrow £130k on a salary of £21k.

    "Halifax has told me I can borrow £130k."

    The HCA calculator says 6X income and 53% debt to income ratio is a non-starter, before I start on lender affordability.

    Another wants to buy on shared ownership newbuild. IVA ended in 2011 and LTV too much for any lender but one which won't accept the IVA.

    Finally, another shared ownership case, fits only one lender again and without six months employment they won't touch it.

    Anyone else having a "plaiting sawdust" kind of day...?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
Page 43
    • kingstreet
    • By kingstreet 4th Mar 17, 12:09 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    I've never used a packager for one case I wanted to use for another.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • kingstreet
    • By kingstreet 13th Mar 17, 5:03 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    Skipton actually declined one of our cases the other day.

    So affronted were we by the reasons given we called them and had a very pointed conversation and literally fifteen minutes later it was offered.

    We have kept the emails;-

    14:32 - Application Cancelled
    14:58 - Application Offered.

    I'll email the evidence to ACG for independent verification if you don't believe me!
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • ACG
    • By ACG 13th Mar 17, 5:34 PM
    • 14,883 Posts
    • 7,487 Thanks
    ACG
    I think they are allowed a mistake now and again. In the main they are pretty good. Its a surprise they just cancelled it without someone calling you to explain.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • kingstreet
    • By kingstreet 15th Mar 17, 5:27 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    Please do not send PMs asking for one-to-one-advice, or representation.
    About as much use as a chocolate fireguard.

    I read threads. I don't want to respond because I can only guess at how long, or will xyz lender do this, or whatever...
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • ACG
    • By ACG 15th Mar 17, 5:46 PM
    • 14,883 Posts
    • 7,487 Thanks
    ACG
    About as much use as a chocolate fireguard.

    I read threads. I don't want to respond because I can only guess at how long, or will xyz lender do this, or whatever...
    Originally posted by kingstreet
    A certain welsh lender by any chance?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • kingstreet
    • By kingstreet 4th Apr 17, 5:36 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    From September 2015 to the end of December 2016, we received 687 new enquiries. That's 46 a month.

    From 1 January 2017, we moved from 687 to 950, so our new enquiry level since Christmas has increased to over 85 a month and we are still turning some serious detritus into gold.

    I am sorely considering changing my username to Rumpelstiltskin.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • aNom
    • By aNom 4th Apr 17, 10:15 PM
    • 63 Posts
    • 60 Thanks
    aNom
    • kingstreet
    • By kingstreet 11th Apr 17, 5:39 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    Anyone having issues with Halifax DIP amounts when affordability calc indicates more? Keep getting alternative lending proposal, not corrective action, so not a score issue...

    I've got a BMW PCP and the DIP output is £26k less than the affordability calculator indicates. Checked credit files and everything entered correctly, so only issue I can see is PCP not being treated as the £495 per month alone.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • kingstreet
    • By kingstreet 26th Apr 17, 5:02 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    A different kind of blues but absolutely fantastic;-

    https://www.youtube.com/watch?v=qJFVPxBpezk

    Gary Puckett & The Union Gap - Young Girl.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Cirias
    • By Cirias 27th Apr 17, 11:12 AM
    • 46 Posts
    • 17 Thanks
    Cirias
    Anyone having issues with Halifax DIP amounts when affordability calc indicates more? Keep getting alternative lending proposal, not corrective action, so not a score issue...

    I've got a BMW PCP and the DIP output is £26k less than the affordability calculator indicates. Checked credit files and everything entered correctly, so only issue I can see is PCP not being treated as the £495 per month alone.
    Originally posted by kingstreet
    I really would like to know the answer to this. I'm not a broker but a FTB and my broker came back saying that Natwest were offering me £13K less than I need and apparently they cited my car lease as a factor, even though the full amount was included in all broker's calculations.
    • kingstreet
    • By kingstreet 27th Apr 17, 1:58 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    In that particular instance, the Halifax system was changing the "can this income be evidenced" button from yes to no, whenever I saved and exited.

    If he has copies of your credit files and there is nothing settled that remains showing as outstanding, your broker needs to speak to their NatWest BDM.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • kingstreet
    • By kingstreet 29th Apr 17, 3:39 PM
    • 31,447 Posts
    • 16,806 Thanks
    kingstreet
    Most 'un-blues', really.

    Halifax HTB newbuild application submitted at 12:38 on 27 April was offered today, 29 April.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
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