Urgent Mortgage advice needed PLS!

*EssEncE*

Now do please forgive me, it's late and ive had a few alcoholic refreshments whilst the 'other half' is out on a girly night... but the Bradshaws

Good old google found me http://www.thebradshaws.biz/ and I quote:

1. Wot Woz It Like In The Holden Days?
* Alf is being witty about how old Audrey is and somehow talks himself into a trip to the zoo.

2. The Monkey With The Funny Coloured Bum
* All is sweet and nice at the zoo until little Billy meets a baboon.

3. God's Spy Ole
* Even a cheerful tuneful Audrey can't resist putting her two penn'orth in when Alf has a go at God.

Whats all this about.... I :think: i'm either wondering down a one way street with a dead end, or just too young to understand. I say the latter, as most brokers are 50+ and i'm young enough to be their child. :A

mortgagelurker

LOL!!! Essence...by any chance are you based in the same city as me?? IMAX? T&A? ring any bells?


Oh btw, lets the DSS start helping pay Interest towards my mortgage..then why should a Mortgage lender refuse?

*EssEncE*

Haha, T&A indeed, yup same City, small world.

As for help from the state - read this website http://www.cml.org.uk/cml/consumers/guides/assistance you may find it useful.

But I must stress the importance of speaking to a financial advisor, be it a full IFA or an experienced Mortgage Broker who deals with the 'whole of the market'.

Good luck.

mortgagelurker

i'm really sorry for replying so late..been a bit busy taking kids to flamingo land, lol.

Thanks for that info essence. Can you recommend any IFA or Mortgage Broker who will talk in confidence?

mortgagelurker

Can i just ask another question?

Is it possible that after the fixed rate period expires, i can renew with a new fixed rate (although might be a bit higher!) with the same lender? Surely they're not gonna tell me that i need to work to get another fixed-rate, because i still would otherwise have to pay on variable rate?

dwsjarcmcd

I can't speak for all lenders so you need to check with TMB but they should be your first port of call. If you have paid you mortgage up to date, many lenders will allow you to transfer to a new product without the need for any underwriting. They will charge whatever their prevailing rates and fees are (as will any new lender)

inch_high

If TMB are anything like Halifax (and they should be, theyre one company), you will be able to choose a new product once your current one expires. As its only a product transfer, and no further borrowing will be involved, there will be no underwriting involved and therefore will not look into your income.

mortgagelurker

thats superb, thank you! I don't mind if a mortgage rate was a little higher, so long as i can get a fixed-rate for the sake of knowing what i'll be paying for the next few years.

mortgagelurker

UPDATE! Just had a word with TMB and they have said that they can't give an answer now, but unless i plan to ask for more money, there should be no problem in getting a new product package, so long as the mortgage has been paid on time.

HelpWhereIcan

inch_high wrote: »

If TMB are anything like Halifax (and they should be, theyre one company), you will be able to choose a new product once your current one expires. As its only a product transfer, and no further borrowing will be involved, there will be no underwriting involved and therefore will not look into your income.

That's the one.

They do not shout about their retention policy as loudly as the Halifax but they have one. Problem at the mo is that the rates are not fantastically competitive (6.49% 2 yr fix with 199 arrangement fee or 6.39 5 year fixed with no fee) but the advantage is that there are no legal/valuation fees to pay and that they will just do the transfer without looking for proof of income as long as it is like for like (not borrowing any more).

At least it is a worst case scenario for you and while they may improve over the next year, at least the rates are better than their standard variable rate.

As has been said, have a word with an adviser - but i would suggest a mortgage specialist rather than a 'Jack of all Trades' who's firt instinct may be to self cert your income. You can always see an IFA about any investments/pension etc you have seperately, lots of IFA and Mortgage Adviser firms are cross referring now as both markets become more diverse

Hope this helps and Best wishes

jinx - you can't speak now till someone says your name ha ha