..... I have a cunning plan!!!

Wh05apk

Crashandburn wrote: »

No. But then again, you don't have to put the signature on the profile if you don't want to.

True, but it is in the "code of conduct" for advisors, however, most don't seem to bother anymore.

Crashandburn

No harm in that but then code seems to state this:-

'If mortgage brokers want to add a signature about being a broker to their post it should be....'

More a voluntary thing it seems

Wh05apk

Crashandburn wrote: »

No harm in that but then code seems to state this:-

'If mortgage brokers want to add a signature about being a broker to their post it should be....'

More a voluntary thing it seems

It also states:


"Mortgage Advisers who choose not to use the signature should not indicate they are brokers in any other way within their posts."

Which is clearly being flouted.

thomasdown

I would say aswell that any potential lender likes to see that your son not only has his finances in order, but that he can actually budget on a monthly basis.
I'm not saying he can't but if an underwriter were looking at 2 cases and 1 had saved up £50k over a period of time and the other had been given £50k as a gift, then the case that had saved the £50k shows stability and that he/she can quite easily keep up with the repayments and I assume would go in there favour.

This has nothing to do with whether or not it's doable, just throwing it out there.

Gonzo33

Can see your point thomasdown but in reality all they care about is affordability calculations and that the borrower has a deposit large enough to fit criteria. Many lenders no longer have front line human underwriters and normally humans will only get involved when collation of evidence is required.

Given the price of property at the moment do you honestly expect FTB's to have enough deposit to buy without either financial help from parents, or having lived at home until 35? Especially people on lower incomes. If I can afford it I am going to help my 3 out because I really do not want them living with me until I am in my 60's.

thomasdown

Gonzo33 wrote: »

Can see your point thomasdown but in reality all they care about is affordability calculations and that the borrower has a deposit large enough to fit criteria. Many lenders no longer have front line human underwriters and normally humans will only get involved when collation of evidence is required.

Given the price of property at the moment do you honestly expect FTB's to have enough deposit to buy without either financial help from parents, or having lived at home until 35? Especially people on lower incomes. If I can afford it I am going to help my 3 out because I really do not want them living with me until I am in my 60's.

I can see your point aswell, I totally agree I don't want my 10 month old with me until she is 30. I am 28 though and only bought last year. Myself and the missus, knuckled down and saved hard for a few years. We got told by financial advisor this would go in our favour more so than to be gifted a deposit because it shows stability. He also said all FTB mortgages will get sent straight to underwriting. That's standard practice in today's climate I suppose?