mortgage [ repayment ]

herbiesjp

Also be prepared to divulge all that information and more to the lender.

They will even want to know where the deposit comes from

What were the 3 extra charges - can you tell us that - so that way we can tell you if they are common fees to other lenders

Arrangement fees around £1000 are not uncommon I'm afraid, and the lower the rate offered (normally) the higher the fee attached to the deal

shimsham_2

That bottom line of yours has nothing to do with you, if you cant put an answer to the thread please dont reply. Would you put your salary on this forum so the whole world can see.

Robert_Sterling_3

shimsham wrote: »

Looking at a house at £120k with a deposit of £35k and she earns a moderate salary as she is a teacher at college

We are getting ther slowly

What is "a moderate salary" ?

beecher

shimsham wrote: »

That bottom line of yours has nothing to do with you, if you cant put an answer to the thread please dont reply. Would you put your salary on this forum so the whole world can see.

If I was looking for help with a mortgage then yes, I would. Without this sort of information no-one can help you, and I'm not sure that your attitude is that great considering you're looking for help.

£1k in arrangment fees is not at all uncommon at the moment. As getmoreforless says, you might be better off on a mortgage comparison site.

shimsham_2

My attitude is fine mate talking straight sometimes hurts peoples feelings, if you look up on most forums they can give you rough guide what is available on the market with LTV discounted rates, fixed rates ,trackers,without going into someones private business i would be very surprised if someone would put all there private details on here so all the world could see with the exception of the odd one.
I think you are right i will go to mortgage comparison site because this thread was a complete waste of time, i was just looking for a friendly chat but its not worked out like that.

shimsham_2

herbiesjp wrote: »

Also be prepared to divulge all that information and more to the lender.

They will even want to know where the deposit comes from

What were the 3 extra charges - can you tell us that - so that way we can tell you if they are common fees to other lenders

Arrangement fees around £1000 are not uncommon I'm afraid, and the lower the rate offered (normally) the higher the fee attached to the deal

At last someone who can answer a question in the right manner.

shimsham_2

Robert_Sterling wrote: »

We are getting ther slowly

What is "a moderate salary" ?

Come on then lets have some figures off you if we are getting there slowly.

beecher

shimsham wrote: »

this thread was a complete waste of time

I agree :hello:

Trying_to_be_good

shimsham wrote: »

Come on then lets have some figures off you if we are getting there slowly.

You are being very rude considering you are wanting help.

I would guess your daughter is earning about £30k. Income multiples are at a max of about 3.5 times, indicating possibly lending of about £100k.

She would need a deposit of at least 25%, so about £130k with a £30k deposit would be possible if she has an impeccable credit history.

If you are still not prepared to tell us more, we can only talk in total generalties. You may glean more information from reading other threads where people are asking similar questions, but giving more information. Hopefully you'll find someone whose posted who is in a very similar situation to your daughter, and therefore you can make use of the generous help provided to them.

jamtart6

shimsham - I think what they are trying to say is that it is really hard to suggest which mortgage is best for your daughter without knowing all of the details e.g. salary, LTV, deposit, house price (all of the details, not just some).

I agree with herbie - most of the arrangement fees are around £1000 at the moment. These are fees from the lender (which then pay the broker) they are not directly payable to the broker him/herself. Some brokers do charge extra for the pleasure of arranging the mortgage for you. Or sometimes they charge for their advice so that you can guarantee (supposedly) that it is unbiased advice, whereas with a fees-free you have to hope that they are honest.

Mortgage rates are changing daily, so it is hard to give an exact answer.

If it is information about the type of mortgage e.g. fixed, variable etc. then all of the details (e.g. salary) are probably not necessary, as it is clear you do not wish to divulge this information. However if it is an actual mortgage product you are after e.g. mortgage rate then even with all the information from you, this isn't the best place to find a mortgage rate.