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Chances of a mortgage
Comments
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Thanks for the responses.
I've spoke to an IFA who doesn't seem to think it'd be a problem. I was thinking of going with IF but wondered if they are are now an extremely tight lender given the problems at HBOS (the parent company I believe)...? Their tracker mortgage looks pretty good.
I'm also wary of stumping up the valuation fee and getting turned down!0 -
I'm also wary of stumping up the valuation fee and getting turned down!
You'd have that problem with any mortgage scenario thoughI am a Mortgage AdviserYou 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.0 -
I appreciate its a risk with any lender. I was assuming that some lenders are tighter than others. Given the recent problems at HBOS I could see how IF could be quite reluctant to lend. Have you had any recent dealings with them?0
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As long as you, or your broker, discuss the scenario beforehand with the lender, and you get given the green light you should be fine.
Address the problemtic issues beforehand rather than during the application, to mitigate as much as possible any reason for declining - you should also try and find out what supporting documents will be needed.
It is not just HBoS group reluctant to lend, but all lenders. So it will be a case of try to minimise the reasons for a decline
Then it will be down to the surveyor - which is out of yours or the lenders hands!I am a Mortgage AdviserYou 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.0 -
Thanks a lot for the advise.0
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Are you going direct to the lender or via broker/IFA?
Using a broker would help put your application in the best lightI am a Mortgage AdviserYou 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.0 -
I'm going through an IFA - someone I know personally. I like to do my own research given the sums involved!
I have had a mortgage with IF a few years ago and never missed a payment and made lots of overpayments if that helps my case?0
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