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  • FIRST POST
    • kingstreet
    • By kingstreet 26th Feb 14, 12:56 PM
    • 31,726Posts
    • 16,952Thanks
    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
    • 31,726 Posts
    • 16,952 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
    • 31,726 Posts
    • 16,952 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
    • 15,231 Posts
    • 7,700 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
    • 31,726 Posts
    • 16,952 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
    • 15,231 Posts
    • 7,700 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
    • 31,726 Posts
    • 16,952 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
    • 67 Posts
    • 64 Thanks
    aNom
    • kingstreet
    • By kingstreet 11th Apr 17, 5:39 PM
    • 31,726 Posts
    • 16,952 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
    • 31,726 Posts
    • 16,952 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
    • 49 Posts
    • 18 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
    • 31,726 Posts
    • 16,952 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
    • 31,726 Posts
    • 16,952 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.
    • kingstreet
    • By kingstreet 19th Jul 17, 3:59 PM
    • 31,726 Posts
    • 16,952 Thanks
    kingstreet
    Wow!

    I see this site's favoured broker is going to get stuck in and carry some of the load the rest of us have been carrying for their benefit for the last few years.

    Hopefully, we'll see some good technical knowledge to help people in practice and not just links to web articles.
    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.
    • amnblog
    • By amnblog 20th Jul 17, 8:02 AM
    • 9,656 Posts
    • 3,722 Thanks
    amnblog
    So if MSE luv you enough you can respond to posts by putting links to your website up on the Forum?

    Our website carries enough information to manage just about half the queries here but I understood we were not welcome to link.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • ACG
    • By ACG 20th Jul 17, 8:41 AM
    • 15,231 Posts
    • 7,700 Thanks
    ACG
    luvs/pays...
    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.
    • Dave Ham
    • By Dave Ham 20th Jul 17, 9:38 AM
    • 6,021 Posts
    • 2,841 Thanks
    Dave Ham
    I suspect the rep will be more about brand protection and less about general education.

    Happy to be wrong..

    Hope you are all well..
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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 20th Jul 17, 3:53 PM
    • 31,726 Posts
    • 16,952 Thanks
    kingstreet
    I suspect the rep will be more about brand protection and less about general education.

    Happy to be wrong..

    Hope you are all well..
    Originally posted by Dave Ham
    Blimey. I missed it was from you, I read it as Dave White in my poor eyesight!

    Not bad thanks. Hope you're well too and glad to see you around again.
    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.
    • amnblog
    • By amnblog 21st Jul 17, 7:53 AM
    • 9,656 Posts
    • 3,722 Thanks
    amnblog
    I suspect the rep will be more about brand protection and less about general education.

    Happy to be wrong..

    Hope you are all well..
    Originally posted by Dave Ham
    I notice MSE now indulging in a little 'Brand Protection' by starting a thread encouraging viewers to ask L&C questions.

    I'll have to empty the bins in the office, cos something stinks.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • Dave Ham
    • By Dave Ham 21st Jul 17, 9:46 AM
    • 6,021 Posts
    • 2,841 Thanks
    Dave Ham
    I notice MSE now indulging in a little 'Brand Protection' by starting a thread encouraging viewers to ask L&C questions.

    I'll have to empty the bins in the office, cos something stinks.
    Originally posted by amnblog
    Although it does say they are here to answer "its customers questions" so presumably only L&C clients or MSE?
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
    • amnblog
    • By amnblog 21st Jul 17, 12:02 PM
    • 9,656 Posts
    • 3,722 Thanks
    amnblog
    Presumably worded that way to avoid FCA interest ref promotion Dave.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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