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donny-gal
Posts: 4,663 Forumite
My son & GF are looking for a mortgage and were being limited by the new restrictions, on % to borrow, and amount they can loan, even though they are paying > now in rent, even via a Mortgage Broker. I read the Mortgage Guide, and spotted the info re those who do not go via a broker and ING came up good.
DG
DG
Member #8 of the SKI-ers Club
Why is it I have less time now I am retired then when I worked?
Why is it I have less time now I am retired then when I worked?
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Can you tell us what ING offered which other lenders wouldn't? It's always helpful to know where to point borrowers with particular problems. Ta.My son & GF are looking for a mortgage and were being limited by the new restrictions, on % to borrow, and amount they can loan, even though they are paying > now in rent, even via a Mortgage Broker. I read the Mortgage Guide, and spotted the info re those who do not go via a broker and ING came up good.
DGI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
They were finding the amount offering to be lent was very low with some lenders 2.56x salary compared to the 3x I always believed it was, and the monthly repayments was lower than they were currently paying on their rent. This was seriously limiting their options in their chosen area. There is a 5 year fixed option of 80% of the cost, many now only offering 70% and with higher priced properties, it was making the deposit a step too far, even though we are helping. Yes they will pay a little more interest, but it gets them on the ladder, and they know their outgoings are stable for 5 years. DGMember #8 of the SKI-ers Club
Why is it I have less time now I am retired then when I worked?0 -
Ok. Thank you.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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