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Woolwich Valuation problems
Comments
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Okay, so I applied for £100,000 based on an ltv at 69% so they could come back and offer £75,000 ish then?It's nice to be important, but more important to be nice!!0
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If they have valued it at that and said its suitable for lending then you can go upto 90% (possibly 95%) with Woolwich.
The deal may be different but potentially you can still get the amount your after.
Best bet is to get on the phone to woolwich and ask what your options are and how much it will cost etc.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
If your product has a 70% max, they will offer £77,000 on that, 70% of £110k.Okay, so I applied for £100,000 based on an ltv at 69% so they could come back and offer £75,000 ish then?
If the product has a higher max, they will offer that.
If you want to borrow more than the max for the product, you'll have to ask for another product which will permit you to borrow the amount you need, if they will allow a remortgage to that percentage.
Is your advisor still off?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »If your product has a 70% max, they will offer £77,000 on that, 70% of £110k.
If the product has a higher max, they will offer that.
If you want to borrow more than the max for the product, you'll have to ask for another product which will permit you to borrow the amount you need, if they will allow a remortgage to that percentage.
Is your advisor still off?
I would have thought she would have rang me by now tbh. I have tried to ring and get her vm. I have checked back on trackit and it has kind of gone back 2/3 steps yesterday showed we have recieved your valuation your advisoe will contact you to discuss and then this morning shows your property details have been recieved.
Have to say advisor was very helpful in first instance and then kind of "distant" when went in for application. Don't know if I like her in truth, wished I'd gone to a broker!!It's nice to be important, but more important to be nice!!0 -
These days, branch-based advisors are targeted on application numbers rather than completions, so they may appear disinterested as soon as you are a "1" in the apps column.
Brokers are only paid on completion, so you can usually guarantee our self-interest will keep us concentrated on the task in hand!I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Quick update -
Came back and offered £93,500 fixed 3.29% 2years.
I'm happy with that so now the wait for offer begins!!!!It's nice to be important, but more important to be nice!!0 -
85% max loan to value then.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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kingstreet wrote: »85% max loan to value then.
Must have been, yeah. Like I say though I'm happy enough with that, can always re-mortgage once my fixed rate is up if any more work needs doing.
Saying that I have to wait for offer yet
It's nice to be important, but more important to be nice!!0
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