I'm experiencing higher volumes now

Conrad

It may be just a dead rat bounce, but the new year has bought noticably more buyers out of the wood work, compared with the volumes I've had for some time.

Business has resulted from some of these already.

I'm considerably busier in terms of house purchase mortgages than in Jan 08.
This couold be down to having less competition as the broker community has shrunk, I'm not sure.

rizla01

Well done for you.

But hang fire on that new Merc for a little while.:)

mizzbiz

Conrad wrote: »

It may be just a dead rat bounce, but the new year has bought noticably more buyers out of the wood work, compared with the volumes I've had for some time.

Business has resulted from some of these already.

I'm considerably busier in terms of house purchase mortgages than in Jan 08.
This couold be down to having less competition as the broker community has shrunk, I'm not sure.

Have you noticed whether or not mortgages are more forthcoming or not? I.e. of those who come to you, are many getting turned down?

Conrad

mizzbiz wrote: »

Have you noticed whether or not mortgages are more forthcoming or not? I.e. of those who come to you, are many getting turned down?

Underwriting is very strict now, and I find myself turning away more than I used to, such as an hour ago an Indian restaurant chef that wants to remo at 85%, with no income proof. The allowable income multiples meant he would need to declare £45k, which, does not stack up, as we are not talking Raffles here.

Conrad

rizla01 wrote: »

Well done for you.

But hang fire on that new Merc for a little while.:)

I like my oldish diesel Audi, and can afford no more

dad-of-4

Conrad wrote: »

It may be just a dead rat bounce, but the new year has bought noticably more buyers out of the wood work, compared with the volumes I've had for some time.

Business has resulted from some of these already.

I'm considerably busier in terms of house purchase mortgages than in Jan 08.
This couold be down to having less competition as the broker community has shrunk, I'm not sure.

thats actualy a very good point, everyone who leaves the market makes the market stonger for everyone else. thoes who can hold their nerve the longest clean up in the end.

Jennifer_Jane

Conrad - just thinking - what are the money laundering rules like at the moment? Have they been relaxed in any way, or are they quite strict (in practice, I mean)?

Thanks
Jen
x

Kez100

I spoke to a small indie estate agent yesterday who now has two houses under offer since christmas. I also know of a stalled business purchase which has the go ahead for finance today.

Kez100

Jennifer_Jane wrote: »

Conrad - just thinking - what are the money laundering rules like at the moment? Have they been relaxed in any way, or are they quite strict (in practice, I mean)?

Thanks
Jen
x

They are embedded in law, so no change in requirements.

Conrad

Jennifer_Jane wrote: »

Conrad - just thinking - what are the money laundering rules like at the moment? Have they been relaxed in any way, or are they quite strict (in practice, I mean)?

Thanks
Jen
x

In the sense people are asked for proof of deposit, ID and address, the rules remain. Had an Eastern European who yesterday had to obtain a letter from parents staing they were providing the deposit, but really that proves absolutely nothing as to where the money originated. Lender accepted.

penguine

I know of a few people (friends of friends) who bought or sold a property in the past month. The two who bought completed in December and are FTBs. Despite falling prices, there are probably a fair number of people out there who will go ahead with their plans for buying a home regardless. (Better them than me...)