reccomend IFA please

tiggy748_2

I need a sub prime mortgage.

I have two defualts, hubby has settled IVA (9years ago) and a few mortgage late payments. Our current mortgage is 78K. we have equity of 30K but would like to keep some back for renovations on new house.

We are both self employed with last years income at 18K ish and this years at 35Kish.

We would like either 80K on a 80% LTV rate on property 1, or if not possible we would like £35K on 70%LTV or 30k on a 60% LTV on property 2.

We have been turned down by halifax, and accepted by precise for property 1, however they keep asking for proof of inside leg so we are thinking they might not give us the 80K, and we know they dont lend below 70K so property 2 is a no go with them.

Is anyone able to help us please, or able to recommend a IFA?

Beckyy

Anybod could make a fake account and recommend themelves. I would go to a website like http://www.unbiased.co.uk/ and thne have a read around online for any reviews or further information once you've found an IFA you like the sound of. Best of luck.

GMS

Who arranged Precise for you? Have you asked them if there are other options?

Which of Precises requirements are you unhappy with?

kingstreet

I would seek out an independent or whole of market mortgage broker for this, you may not find an IFA sufficiently specialised, although many do have a separate division.

If using unbiased.co.uk, switch off the "sponsored ads only" option, or you'll only get the ones who pay!

tiggy748_2

thanks...

secio sorted out precise.

I own the company. I pay hubby on an employed basis - he also works on a self employed basis for other people - about 9K.

Precise decided they didnt like the fact i own the company he works for - even though we had explained the situation upfront before we applied. The broker is trying to get them to do it on my income alone so i just cant see this happening as for the last few years ive paid hubby everything as i was a student on a income assessed bursary. thats all.

dissapointed when they said they would, then we find dream home, then they say they wont maybe mirical will happen and it will go through on accounts of 9k last year 35k this year.

Every time we need something from my accountant its 250 , and he warned me that he can send the accounts over but they might want a particular form from the tax office as anyone can put accounts together. maybe 250 isnt large but when u dont get the mortgage its a waste of money, then if they ask for something else its another 250 - where does it stop?

thanks i will look at unbiased

ACG

Precise can be quite good if you have adverse but there are other lenders out there.

Precise are not a mainstream lender - how did you hear about them? If it was through a broker, why not speak to the broker - thats what theyre being paid for. If you went direct then that may answer why theyre coming back for more as a decent broker would usually have got everything they needed upfront.

As for recommendations i dont think the site likes people doing that on here as nobody knows if its an employee or friend of the advisor making the recommendation.

I cant work out if these are Buy to let mortgages or not, but it sounds like there will be lenders available. depending on how recent the mortgage payments are will have an affect on what is available and more importantly what rates/fees.

Have you looked on google?

All i would say is avoid an estate agent broker, you will need someone who isnt only interested in the run of the mill mortgage.

Your Accountant is taking the proverbial! My accountant sends my files to me if and when i need them without any charge, £250 to do an email and some scanning is daylight robbery. Once this is sorted i would switch accountants.

dunstonh

Remember that most IFAs do not do mortgages. They will employ a mortgage adviser of have an in-house arrangement. So, looking up an IFA will be fine to get you the right person but make sure the IFA knows it is about mortgages to ensure you speak to a mortgage adviser.

amnblog

ACG wrote: »

Precise can be quite good if you have adverse but there are other lenders out there.

Precise are not a mainstream lender - how did you hear about them? If it was through a broker, why not speak to the broker - thats what theyre being paid for. If you went direct then that may answer why theyre coming back for more as a decent broker would usually have got everything they needed upfront.

As for recommendations i dont think the site likes people doing that on here as nobody knows if its an employee or friend of the advisor making the recommendation.

I cant work out if these are Buy to let mortgages or not, but it sounds like there will be lenders available. depending on how recent the mortgage payments are will have an affect on what is available and more importantly what rates/fees.

Have you looked on google?

All i would say is avoid an estate agent broker, you will need someone who isnt only interested in the run of the mill mortgage.

Your Accountant is taking the proverbial! My accountant sends my files to me if and when i need them without any charge, £250 to do an email and some scanning is daylight robbery. Once this is sorted i would switch accountants.

Sounds like one accountant is working for free and one has his admin team earning £500 an hour.