The Broker Blues Thread

kingstreet

amnblog wrote: »

It is just me, or has anyone witnessed the telephone voice prompt system at BW working?

I am often to be heard shouting 'mortgage broker' or 'I don't have it' down the handset half a dozen times.

Had the same with NatWest yesterday.

I must have shouted "someone else's" about ten times, but it still didn't recognise it.

kingstreet

Now, HSBC calculator says someone earning £20k with £108 ground rent and service charges and £100 per month council tax can borrow £94,000 over 20 years.

Halifax only offers £79,155.

Is this for real?

amnblog

kingstreet wrote: »

They are UK resident homeowners.

He's Dutch, she's Nigerian without ILR.

Woolwich are saying they won't lend to either of them without permanent right to reside.

Is this because you specifically told them 'they don't have permanent right to reside' KS. The fact you went on to say 'because they don't need it' is irrelevant.

Your operator probably took the tick out of the 'permanent right to reside tick box' their end and the case is crashing.

You could not make it up.

kingstreet

We managed to get it sorted in the end.

They are accepting an application in his sole name.

Thanks.

Senior_Paper_Monitor

7 car, including latest Ferrari, owning 500K+ pa earning entrepreneur with all supporting (inc current pension of c £150K pa) documents wants to buy a couple of flats a c 50% LTV in partnership with son (> £25K pa income in own right albeit from dad's company) to get him on the 'property owning ladder' etc.


24 hours after they leave the country (having signed all docs prior to departure) on a 2 week holiday, the lender wants a signed letter from both father and son undertaking they will not be forsaking their riverside near mansion home and London apartment (joint value running around 5 million) to live in the two 1 bed flats they are buying in a local commuter town !!



What are these people smoking (I mean the underwriters not the clients) ?!?!

ACG

And even if they do put it in writing... what difference will it make?!

They would call in the debt with or without that letter if they found out it was happening.

kingstreet

Nationwide and valuations.

Case submitted 14/7 - still no valuation date

Case submitted 18/7 - still no valuation date

Case submitted 18/7 - valuation booked yesterday for 31/7.

They are unable to explain why it's taking so long to get booked.

johnnybebad2000

Hi there


Does anyone know if any lenders are still doing regulated BTL.


Thanks

Senior_Paper_Monitor

Strange place to post !!! ¬ BUT yes they are (but not many) - BUT the affordability calculation has changed dramatically in most cases

johnnybebad2000

Senior_Paper_Monitor wrote: »

Strange place to post !!! ¬ BUT yes they are (but not many) - BUT the affordability calculation has changed dramatically in most cases

I am a broker having blues, so thought this was a great place to get help from fellow advisors. Can you tell me what lenders to look at?