Beacon Mortgage Advice! Help!

Leon_W

This is why I can't and won't deal with Beacon.

It's the 1st of October today and the packager I use for Beacon loans has just sent me an email (timed at 9.40am) saying that October funds have gone !

A new tranche is available November 1st.

How can any broker give a client a reasonable service (and Treat Them Fairly) when lenders act like this.

needamortgage_2

HI Leon W

Would you say who that packager was that is already full ?

Do you think its really Beacons fault though if they are being inundated with applications ?

thanks so much

needamortgage :-)

needamortgage_2

Hi Honeymonster, carla09, siliversaxman :-)

Anyone got any news ?:-)


Aimzrabbit, you should be moving today, best of luck, let us know how you get along :-)


We havent heard anything yet :-(


needamortgage :-)

Conrad

I deal with Beacon but I warn clients they need to be very realistic, and that I wont help them if they are the type that wants a daily update.

The simple fact is, Beacon are the only releatively low rate adverse lender, yet 2 years ago there were dozens of them.

Imagine if every supermarket shut except Tesco - the queues would grow somewhat.

needamortgage_2

Hi COnrad .

Do you think if you have been told that your case has already gone to Beacon then you have a good chance of getting included in Octobers tranche ?

many thanks


Needamortgage

Conrad

NAM

Yes, I'd think that's a reasonable assumption, but who knows for sure. There are so many variables - again if all supermarkets but 1, closed tomorrow, imagine the impossibility of trying to make predictions about meeting demand - just impossible in such chaotic circumstances. It's always going to be a case of wait in line.

I find with Beacon, the offer just suddenly pops out of thier system, so all you can do is wait.

needamortgage_2

hi conrad

thanks for replying :-)

Yes we dont really know and waiting is so hard to do especially when you got buyers, and the people from the house we are buying down your neck :-(

It really is nail biting times :-(

oh hum, we live in hope :-)


thanks conrad :-)

Needamortgage

honeymonster19

Hiya needamortgage

Solicitor just waiting on B Legal but looking a bit more promising now that we have hit October. Hopefully shouldn't be too long for you either:beer:

needamortgage_2

hiya honeymonster,

thanks for replying, so theres been some movement then ? thats great !

nothing yet for me :-(

just have to wait it out :-)


fingers crossed for you it starts going quicker :-)


need a mortgage

Carla0909

Hi NAM

I am sorry to hear you are still haven't heard from Beacon, you must be tearing your hair out!! I know I would be or did, when it was only a few days.

Update on me since we last spoke, I have now had my audit valuation (as the comparabiles provided were slightly out), anyway valuaiton came back with no problems.

My funds were reserved at the begining of the process I had to pay a £299 fee to reserve, I checked again today that the funds would be available for the 30th of October and was told yes.

So as far as I can see, all going well, though I don't think I will be truly happy till I have the keys in my hand on the 30th, any changes I shall let you know.

I honestly think it is all down to who your broker and packager is and how much allocation they have.

Good luck and don't give up.

Carla