Any mortgage advisers that could help me?

T-Sil

Hi There

I wonder if anyone had any advice for us. We put our flat on the market in Feb, and are currently in a chain of 3 and everything is plodding along slowly.

My DH is self employed (director, ltd company) in IT as a contractor so he gets a daily rate. We used a specialist broker and they found us a deal with the halifax, 2 yr fixed rate of 5.39%. We have a 10% deposit.
When we went through all of this my DH only had 19 months of account so we were a bit limited in the deals available to us.

Now that everything is moving slower than we thought, would it be possible for us to find another mortgage deal after 4th July (the date in which he has 2 years accounts), but for the process to still carry on?

Having spoken to the people we are buying from, it seems we are going to be at least 6 weeks until exchange/completion, which takes us almost to 4th July. Will we end up holding it up more if we then try to get a new mortgage offer around then?

The difference could be a couple of hundred pounds a month for two years so obviously its worth looking into for us.

I did ask our broker but honestly he doesn't seem that interested because he has already found us a deal etc.

Hope that makes sense

Thank You

Dave_Ham

What is the purchase price?

T-Sil

£347,500

Dave_Ham

Thanks, reason I asked is whilst not the most cost effective rate; at under £250k with the Stamp Duty refund Halifax are offering it sweetens their 90% deal.

You could potentially get better, but will clearly need to potentially factor in the cost of another valuation.

Additionally another lender on better rated lenders, many will only accept SA302's as income verfication so accountant will need to confirm everything and order from HMRC.

Many of the lenders with premium rates process nowhere near as quickly as Halifax. Lenders are traditionally slower during school breaks also..

In summary, it can be done; but there is no guarantee.