Fast Track - not so fast A & L

northernval

Hi- currently moving house - and went to a broker - Due to various reasons he advised a fast track mortgage. We have a good deposit and was 26/74 % LTV. (wanted interest only for first 3 years as the house needs doing up) Where I worked until 3 months ago recently went bust and it transpires they were not paying the NI and I have never received a P60. It is a joint mortgage.

Anyway - we got an AIP and a letter confirming the mortgage - all I needed to show A&L was one (last month) wage slip as did the other half. This letter came from A&L. So all was sent off and fine..... The survey was arranged paid for and carried out - it requested various other tests ... red ash, wall tie, timber and damp, electrical etc - these were then paid for and carried out.

Today broker called to say A&L want last 4 months wage slips, bank statements, p60 and written agreement from us that they can speak with the Inland Revenue.

I don’t mind all these requests for information - but why wait until we have paid over £800 in tests and surveys let alone solicitor fees to date.

What other options do we have - I wont have wage slips as for the last 4 months-they were hand written anyway - plus no NI was paid (found out when company went bump).

We have more than 25% deposit and can easily afford interest only – and re-payment when we are not spending money having it done up. – What other options are there? – Could we try another fast track with another lender – My other half was missed off the electoral roll by the council – although now on.

_Andy_

Your broker shouldn't have recommended a fast track mortgage in the first place, its only appropriate for people that have proof of income if the underwriters request it.