3 weeks to see mortgage advisor,can it be done sooner?

thriftyminx13

Some mortgage deals aren't being offered through independent mortgage advisers anymore, just to advise you. Banks are not offering the incentives they once did and are clawing it more in-house.

So best option is to do some research yourself, speak to an adviser and also speak to a few banks on the phone. then you'll have all avenues covered.

Deb19742004

Just wanted to add if the other couple that are bidding against you arent ftb then you have scored brownie points as you have no house to sell. The way the market is goin at the min the seller will probably be looking for a quick sale!;)

i remember a few years ago think it was Halifax who gave us a mortgage "promise" means wd guarantee you a mortgage for 3 months from the date of the letter after they done all the various checks etc.

thriftyminx13

DAB1209 wrote: »

Yes I have been doing lots of online research getting quotes how much we could borrow etc.Was on fsa.gov site and to fit our critera theres only the ulster and northern (bank ireland has a tie in period we dont want).Their offers are available direct only so I dont see much point of seeing an ifa unless they could do a better deal (which I doubt)

This is what I was quoted for northern
Variable3.74%£416termnonen/an/a4.10%

Is it the northern you are waiting 3 weeks for? I would phone them again if you are flexible as to the branch or see what other alternatives there are ie over phone.

Satscene

Don`t know the full details but this one look interesting...

http://forums.moneysavingexpert.com/...html?t=1501677

ING Direct 0.89 above base ??

blueberrypie

DAB1209 wrote: »

Their offers are available direct only so I dont see much point of seeing an ifa unless they could do a better deal (which I doubt)

If you phone an IFA and say "here's the best I can find, can you beat it?", they'll either say yes - and save you money - or they'll say "no, go for it" - and you'll have lost absolutely nothing.

IFAs also often know of upcoming deals; there isn't any way you could find those yourself, and as I said, they know which lenders like which kinds of borrowers. This is especially true if your situation is in any way awkward (such as having a small deposit).

Disclaimer: I'm not, never have been, never intend to be and am not related to an IFA. But I am someone who has saved a packet (tens of thousands at least) by using an IFA. There's nothing to lose by giving one a call, except perhaps ten minutes of your time.

leskerr

A couple of options on getting an earlier appointment with the Northern:
- You are not restricted on which branch of the Northern handles your application. If you are asking for an appointment by phone, explain that 3 weeks isn't good enough and ask if an alternative branch can handle it quicker.
- Alternatively go to your local branch and tell them that they risk losing all of your business if they can't give you an earlier appointment.

With regard to IFA's - bear in mind that they do not handle mortgages from all providers, so their best deal will not always be THE best deal. E.g. Northern do not offer their mortgages through IFA's.

The FSA (regulator) has comparison tables for mortgages, try this link...
http://www.fsa.gov.uk/tables/
though it was not available when I posted this!

In the current climate, your deposit level is a limitation.

Hope this helps!

Les

blueberrypie

DAB1209 wrote: »

Hubby is waiting on accountant getting his proof of earnings so should I wait till he collects them before contacting the ifa?

No, go ahead and talk to the IFA. You won't need the proof of earnings until the application is being made.

As leskerr said, IFAs don't have access to all lenders's deals - however they have access to a much wider range than you could possibly hope to find yourself - but they also have knowledge which could be helpful. For example, when we remortgaged recently, the IFA recommended a particular product which gave us a better deal than we'd have found locally, due to our low LTV, and which also had a very low early repayment charge, because we'd said that we hoped to overpay substantially, while not getting tied into the very high required payment that a very short term would have produced. He knew which lenders liked the profile we presented, which ones were offering the best mortgages for our circumstances. We wouldn't even have known the product existed - it wasn't being promoted on the lender's website, and it's not a lender we'd have been likely to go to (not local). And the IFA's knowledge also saved us £1k in application fees.

Francophile

I've been dealiing with this guy
Michael Dougan
Professional Mortgage Solutions (N.I)
44 Holborn Hall
Lisburn BT27 5AU
02892661859
07799346677
regarding a re-mortgage. He says he can have it all sorted and money through within 3 weeks. We haven't got as far as giving him the go ahead as we're not quite ready but he seems a really reasonable bloke. Worth giving him a call.

blueberrypie

DAB1209 wrote: »

So we have saw an ifa who as expected cant get better deal than banks rates.He has offered us a 5yr fixed 6.59% with c&g,£995 arangement fee,90% ltv.Im tempted to just go for it as although according to fsa.gov and the northerns website they have a much better rate im inclined to think there would be strict regimes for actualy getting these deals ie squeaky clean credit rating etc....what do we do go with c&g or wait to see bank

You don't have any pre-approval through Northern Bank, right? It's just...if your credit-rating is *not* squeaky-clean, or if there's anything else not-quite-perfect about your application, it's not likely you'll get the best deal they advertise. If your IFA knows the full situation and is still able to get you the above deal, it might be that it's better than anything the Northern will come up with anyway.

One other thing: the Northern Bank is offering a variable rate, right? - whereas this is a 5-year fixed-rate. It might seem more expensive now, but if interest rates rise in a few months or a year (as many people seem to believe they will), the fixed-rate might end up costing you a lot less than a variable that is at a lower rate now.

DAB1209

One other thing: the Northern Bank is offering a variable rate, right? - whereas this is a 5-year fixed-rate. It might seem more expensive now, but if interest rates rise in a few months or a year (as many people seem to believe they will), the fixed-rate might end up costing you a lot less than a variable that is at a lower rate now.[/quote]

Yes true I had thought of the flipside and how it could work in our favour.Ea has just called to say an offer was placed and accepted so its now sale agreed ...am so angry that we didnt just go ahead and bid last week instead of waiting to see if we could get mortgage,though ea has a lot to answer for as we were upfront and honest with him and while he would have let us place bid he assured us that the house would not be sold before letting us know of any changes so very nice of them to ring after sale agreed and not before! Argh isnt hindsight lovely!