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problems getting a decent Mortgage with LTV 25%
Pat-UK_2
Posts: 1 Newbie
I seem to be in a unique situation that brokers don't really seem interested in sorting me out a mortgage.
I want to borrow £45,000, £31,000 for the mortgage and £14,000 for renovations the house is worth around £180,000 now.
Because of the small loan it is cheaper for me to go for a slightly higher rate with no £995 set up fees, I want to fix it for 5 years and am happy to pay the extra as I am sure the rates are going to go silly and explode into the sky like fireworks.
Whenever I speak to these so called fee free firms they say they have to charge a broker fee because of the small amout of comission they'll earn.
My problem and whats stopping me from the high street option is i'm self employed and not on the electoral roll at the moment as I had previously rented out my house and have been moving about a bit with work. been with my mortgage firm for 14 years and not really had a problem. experian credit score is 900.
Any advice or ideas anyone ??
I want to borrow £45,000, £31,000 for the mortgage and £14,000 for renovations the house is worth around £180,000 now.
Because of the small loan it is cheaper for me to go for a slightly higher rate with no £995 set up fees, I want to fix it for 5 years and am happy to pay the extra as I am sure the rates are going to go silly and explode into the sky like fireworks.
Whenever I speak to these so called fee free firms they say they have to charge a broker fee because of the small amout of comission they'll earn.
My problem and whats stopping me from the high street option is i'm self employed and not on the electoral roll at the moment as I had previously rented out my house and have been moving about a bit with work. been with my mortgage firm for 14 years and not really had a problem. experian credit score is 900.
Any advice or ideas anyone ??
0
Comments
-
Have you talked to your existing/previous lender?
Pay the fee for the service your require.
You expect people to pay you!0 -
Whenever I speak to these so called fee free firms they say they have to charge a broker fee because of the small amout of comission they'll earn.
What's wrong with that? Would you seriously expect them to do all the work for you and make a loss?
Anyway, you mention you're SE - this shouldn't be a problem. How long have you been SE? I presume you have proof of income?0
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