Just moved out, will it affect getting a mortgage?

dannyboyslim

Hi all,

I've just sold my apartment (completed last week), and am now in temporary accomodation while my partner and I look for a suitable house to buy. We've had an offer accepted on a house this week and are seeing 4 different mortgage providers Monday to decide who to get our mortgage with.

However, as we've obviously only just moved out of our property (we were there nearly 6 years), the address change for the council tax etc.. hasn't been done yet (I plan to do it Monday).

Will this affect our credit rating or possibly mean we won't get offered a mortgage? We can provide some proof of address as we've already had a couple of final bills sent to our new address, and we've got things like passports, but our driving licences for example are still at our old address. We've obviously got loads of proof of our previous address (where we lived until a week ago).

Two of the mortgage meetings are with HSBC and Barclays, mine and my partners banks respectively. We've both been with them for years if that helps at all.

Hoping that some people can put my mind at ease.

Wh05apk

dannyboyslim wrote: »

We've had an offer accepted on a house this week and are seeing 4 different mortgage providers Monday to decide who to get our mortgage with.

Will this affect our credit rating or possibly mean we won't get offered a mortgage?
Hoping that some people can put my mind at ease.

Shouldn't really make much difference.

Why not just see one broker, instead of 4 bank sales people, who will be looking to cross-sell? do you really resent brokers earning a living that much, that you are prepard to spend all day, doing what they could do in 1 meeting?

As you will be seeing 4 sales people, be careful, you do not want to get 4 credit searches done.

dannyboyslim

Thanks for the quick reply. We have already seen a broker and wanted to go direct as well for comparison (plus there's a fee if we use the broker). Would rather go direct though, had a bad experience with a broker who clearly wasn't as independent as he made out. Glad the fact we've only just moved out and in temporary accom shouldn't affect things.

Wh05apk

dannyboyslim wrote: »

Thanks for the quick reply. We have already seen a broker and wanted to go direct as well for comparison (plus there's a fee if we use the broker). Would rather go direct though, had a bad experience with a broker who clearly wasn't as independent as he made out. Glad the fact we've only just moved out and in temporary accom shouldn't affect things.

So basically you are just abusing the broker? whatever they come up with, you will still go direct?

GMS

Wh05apk - 'Using' the broker for information has unfortunately become the accepted norm partly due to the 'advice' of this site.

I have had a few clients in recent weeks who have given up with the direct approach due to the hurdles the lenders are placing in front of them.

Until the lenders decide to play fair it is something we need to put up with, although I believe the tide will turn soon in our favour

Wh05apk

GMS, I can accept it if people go direct to get a better deal, but it annoys me when someone has wasted potentially 3-4 hours of somebodies time, when they had little or no intention of using them.

I agree about direct lenders being pains, I get a lot of business from people who have gone to HSBC especially, great headline rates, but almost impossible criteria.

GMS

People are encouraged by this site to extract all info from a broker then go elsewhere.

Many HSBC deals can be beaten when looked into properly, i.e val fees and legal fees paid by other lenders have been known to make the deal better. As you say great headline rates, but difficult to get.

It is frustrating having your time wasted but we have been portrayed as conmen by the media and seen as fair game. Nobody would suggest treating any other professional in this manner.

missile

My heart bleeds for financial service advisors. Yeah right, when did IFAs become "profesional"? Those who give good service will get the business those who don't ....... need to try harder.

How many IFAs go into a shop and then buy on line?

Wh05apk

missile wrote: »

My heart bleeds for financial service advisors. Yeah right, when did IFAs become "profesional"? Those who give good service will get the business those who don't ....... need to try harder.

How many IFAs go into a shop and then buy on line?

Yes I buy online, but I do not waste 3-4 hours of someones time before I do so.

IFA's have never been "profesional" but most are professional and concientious, and take a pride in their work, most also have morals unlike a lot of clients we have to deal with!