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The Broker Blues Thread

edited 30 November -1 at 12:00AM in Mortgages & Endowments
893 replies 151.3K views
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  • ACGACG Forumite
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    That is a shock.

    I always find Skipton system/process one of the better ones. Simple, understandable and it works every time.
    You can upload documents or email them across to the underwriters.
    I am a Mortgage Adviser
    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.
  • kingstreetkingstreet Forumite
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    In terms of uploading the right document and having it correctly allocated, Nationwide has to be the best, surely?

    Abbey's isn't bad either...
    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.
  • amnblogamnblog Forumite
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    Coventry is the best KS, because you don't have to certify them.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • ACGACG Forumite
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    I dont think you have to certify with Aldermore either.
    I am a Mortgage Adviser
    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.
  • GMSGMS Forumite
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    Nightmare with TMW. 4 offers for same clients. TMW increase LTV to 65% from 60% with same rate. Aply to up all 4 to 65%. Underwriter approves.

    Now the fun begins. Last Thursday 4 offers issued, 3 of which are wrong. Midday today after around 14 offers in total 3 are correct, 2 of which were correct 2 offers ago until TMW re-offered for no reason incorrectly.

    Senior today tells me he will sort by close of play and that 12 hours of waiting on the phone etc is acceptable to point out to TMW that they are useless. 4.45 Mr know it all calls me to say offer now re-offered with the fault corrected. However the rate is now wrong, SVR instead of 2.99% fixed despite having a 2.99% fixed product code.

    TCF adhered to because they will put it right despite not having done so far, having no idea what the fault is and posting 12 or so offers to the clients which I have told to disregard.

    Couldn't make it up and their attitude stinks.
    I am a Mortgage Adviser
    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.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • kingstreetkingstreet Forumite
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    When we prepare a case, checking affordability carefully, if we don't need a particular strand of income, we don't enter it on the application so we don't have to evidence it.

    Overtime, bonus etc. We work purely off basic income whenever we can.

    I read threads on here about tax credits etc and wonder if the applicant enters it because they think they have to, or they enter it because they need it to make the amount they want to borrow affordable?

    What do the other pros do?
    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.
  • amnblogamnblog Forumite
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    We are triple careful with tax credits as the income on the statement from HMRC never matches the current income.


    Fortunately with our main client profile we don't need to work with tax credits too often.


    Like you, if we don't need an income item for affordability we don't enter it so we don't have to evidence it.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • ACGACG Forumite
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    The less I can get away with evidencing the better. I would always work off basics and then stretch to anything else is needed.
    I am a Mortgage Adviser
    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.
  • betmunchbetmunch Forumite
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    Same here. If your not compromising the product by not including an income then dont include it, its just asking for trouble.
    specifically Child Benefit is the worst, especially if its evidenced on bank statements the lender wouldnt have asked for, which then prompts them to ask rediculous follow up questions!
    I am a Mortgage Adviser
    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.
  • kingstreetkingstreet Forumite
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    "Changes to our BTL policy

    • First time buyers - Following a review of our lending policy, we no longer accept BTL applications for first-time buyers. For joint applications, at least one applicant must have been an owner occupier for at least 6 months on the date of decision, and we may request evidence of this.
    • Let to Buy - Where a customer is remortgaging their main residence onto a BTL product a simultaneous completion must be made on a new residential property.
    Remember, we do accept first time landlords, so whether your clients are buying a property to let for the first time, adding to their existing portfolio or remortgaging a current deal, our BTL deals are available up to 75% LTV"
    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.
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