Desperate for your mortgage help - Please!!

feduptwo

Thank you so much for reading I am genuinly lost on what to do as this house is really important to myself and the family.

opinions4u

Have you seen a broker?

feduptwo

Hi, yes we have gone through the broker with the aplication....:(

Dave_Ham

Typical poor estate agent broker, santander/abbey were never going to have this.

What deposit and what purchase price are you after?

This certainly sounds achievable for an experienced broker...

Annisele

When you say "she has applied to a large bank here (spanish)" - do you mean you're buying in England and you applied to Santander, or are you in Spain and applying to a Spanish bank?

Simon_gloster

Many lenders will go to 75 if your already retired with proof of a payslip or some sort of invoice for your earnings. Some will lend even further.

The downside to you is that you will lose the rate you have if its attactive with your current lender (barclays?)

feduptwo

Hi Dave Ham, Thank you fro your reply. Our broker said it should be fine we are sort of againt time so we asked for someone whom will accept and fast, its taken two weeks now. I said to her soemone must take us on, we have a mortgage already and have only improved our reputation.


Do you have any solutions what you think would be the best step from all the info i gave above, they accepted in principle and have not said No its just seemign to me this pension slip, its been refered to a manager and we have given lots of info from pension company more than the slip would have?

Thank you Dave.

Hi Simon, thank you for your reply, would you know any lenders we could approach from the info I have given would accept us, I am sure we can get a mortgage out there based on the above....


Please anyone with any help or advice it would be so greatfully received....we are so sressed out its making us ill.

Is there anyehwere you can go and ask where can we more than likly be accepted.?

Thank you so much everyone for your help!!!!!!THANK YOU

Thrugelmir

feduptwo wrote: »

I have never missed a payment and currnty pay £1500 a month mortgage with £146k left from when it started 5 years ago at around £340k, so all the interest is paid off.

Interest is payable on the outstanding balance. So you will continue to pay interest until the debt is discharged.

We are buying house for £206k and will have an outstanding mortgage of 152k after buying this house

So why aren't you using the released equity on the sale of your existing property to reduce your new mortgage?

feduptwo

Hi, Thrugelmir - We have that has brought it down to just £152 mortgage. We sold our house for £200k and brought this new house for £206k. We were advised by broker that we would have a mortgage of £152k with the santander mortgage.

This is half the amount we had when we took the mortgage with Halifax 5 years ago and they had no probems with it, but wont accept us now as they dont do beyond 70 years of age.

It all seems to be down to this pay slip pension paperwork, they wont accept the bank statements that states it and a full headed letter form the pension company with excel sheet of current pension plan and to state agin its a life time pension of £2500 a month. We are going to lose our buyer if we dont resolve this this week coming, we are so scared now and just can not belive they wotn accept all the info around the pension, it is more than the slip they are after, its so very odd.

Thanks.

Dave_Ham

I am utterly confused - sorry.

You had a mortgage of circa £350k and are buying for £206k ish.

If you have paid down £200k over x years, surely you have more than £50k?

I am not being suspicious or patronising, just genuinely do not understand...

You need professional help and it would appear there will be a solution, the cost of the solution is likely to be dependent upon the experience of the broker.

Do not go direct to banks with this, you almost certainly require a broker.

Are you after buying the property on a repayment basis, or will you be downsizing in years to come?

Best of luck

feduptwo

hi

me again. Is there anywhere if this santander mortgage does not come off where I can look or seek advice a mortgage company is more than likly to accept me. I am sure there are mortgages I can get but it seems like our broker is not doing so well here.

We need speed as buyers have been waiting ages so we need to act quick to secure a loan.ah the stress!!!!! just dont no what the best next step is lost faith in broker...but still beleive a mortgage is out there must be a fair few just dont no how to source one straight away....