Brokers

moorbricks

Hi all.
I need a remortgage a bit sharpish ! Can anyone please recommend a good Broker? i live in the North Somerset area.

AndrewSmith

Best place is too look in your local pages magazine magazine or your local Yell.com

Out of interest where abouts in North Somerset are you?

herbiesjp

I suppose it all depends on whether you want a face to face broker or a if you are happy to go over the procedure over the phone/internet?

moorbricks

Thanks for the replies.
I dont mind how i deal with the Broker as long as there good, honest and the fee is reasonable.

MortgageMamma

You would be much better looking for a fee's free whole of market broker. why pay a fee to someone if you can get someone else to do the same job for no upfron fee;s and just commission from the mortgage lender?

herbiesjp

moorbricks wrote:

Thanks for the replies.
I dont mind how i deal with the Broker as long as there good, honest and the fee is reasonable.

Plenty of those about - even fee free ones.

Can friends or family give a recomendation?

moorbricks

MortgageMamma wrote:

You would be much better looking for a fee's free whole of market broker. why pay a fee to someone if you can get someone else to do the same job for no upfron fee;s and just commission from the mortgage lender?

Yes Mortgagemamma that would be preferable.

my house is worth £150K.
Present mortgage is £98K.
I earn £22k ayear (overtime roughly £5k )
Credit file good ( just a couple of late payments ).
I want to remortgage to £115 K in your professional opinion is this obtainable?
I would be very grateful for your advice.

herbiesjp

moorbricks wrote:

Yes Mortgagemamma that would be preferable.

my house is worth £150K.
Present mortgage is £98K.
I earn £22k ayear (overtime roughly £5k )
Credit file good ( just a couple of late payments ).
I want to remortgage to £115 K in your professional opinion is this obtainable?
I would be very grateful for your advice.

In theory this could be obtainable

Whether it is possible in reality for you to do so will depend on your whole picture. You mention couple of late payments, so this could put you out of some lenders criteria straight away - it will depend on the details.

What is the purpose of the extra funds? Do you have any other debts in the background? Any children?

Both of these could affect the mortgage amount available to you

HTH

moorbricks

herbiesjp wrote:

In theory this could be obtainable

Whether it is possible in reality for you to do so will depend on your whole picture. You mention couple of late payments, so this could put you out of some lenders criteria straight away - it will depend on the details.

What is the purpose of the extra funds? Do you have any other debts in the background? Any children?

Both of these could affect the mortgage amount available to you

HTH

You have hit the nail on the head! im in a tight spot.I do have other debts, i do have children. i,ve not missed any payments yet. i want to avoid IVA's DMP's and all that kind suff, i think i can sustain it for one month, after that im'fried! just to top it all my mortgage is with my bank !

moorbricks

moorbricks wrote:

Yes Mortgagemamma that would be preferable.

my house is worth £150K.
Present mortgage is £98K.
I earn £22k ayear (overtime roughly £5k )
Credit file good ( just a couple of late payments ).
I want to remortgage to £115 K in your professional opinion is this obtainable?
I would be very grateful for your advice.

In addition to the above i have following imformation:-

My wife is'nt working(but is looking ) She recieves £70 child benefit and £91 child tax credit.(we have a baby)
creditors are as follows:-
American express £1,711 Myself
Barclaycard £2,088 "
MBNA £4,734 "
Barclaycard £2,630 My wife
Hailfax £1,601 "
HSBC overdrafts Myself £1,200 My Wife £800

MortgageMamma

Hi Moorbricks

Could you give me the monthly payments for each of these and I will try and work out your max borrowing. Also, sorry for delay in reply I struggle to find time for the site I'm so busy these days!

MM