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The Broker Blues Thread
Comments
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Thrugelmir wrote: »The BOE has legal powers to force lenders to raise the deposits that new borrowers must put down
Which is in complete contrast to the government's HTB policy?0 -
The Treasury introduced the LTI cap back in October, so it's a surprise it's taken so long for lenders to react.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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Changing tack...............anyone come across bigger legal muppets than Qcas?0
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We've just had a free legals case panelled to them by Nationwide.
Not a lot to report so far, but last involvement with them didn't end well...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 -
Let_Us_See wrote: »Which is in complete contrast to the government's HTB policy?
"Has the powers" is the key phrase.
Rather than looking at the mortgage market bottom up, i.e. at the micro level of the borrower. You need to look top down from macro level. As the lending markets will be shaped by the regulatory requirements on capital reserves under Basle 3 (no requirement to be fully compliant with until effective 2019) etc. So putting aside current distortions as HTB and the remnants of funding for lending. The general direction of travel is for lenders to contract their balance sheets.
Lending less to more people may be the ultimate goal for many lenders. As the excesses of the past unwind.0 -
Nationwide - joint income 68k - LTV 65% - loan 1.7 x income.
DIP failed due to level of outstanding debt - which is £2000.
Crazy!I am a Financial Adviser specialising in Mortgages, Protection, Health and Medical Insurance. I also write wills. All information posted on this site is for discussion only, and should not be taken as advice.0 -
Is there any non disclosed stuff?
As you know, memories can be selective with some borrowers.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.0 -
I have full reports from both applicants. Totally clear. Nationwide DIP team agree there is no reason for it to decline but they are stumped as to why it has. The next team up - surprise surprise- dont take calls and may take 24-48 hrs to reply.
Really is ridiculous situation to be in...I am a Financial Adviser specialising in Mortgages, Protection, Health and Medical Insurance. I also write wills. All information posted on this site is for discussion only, and should not be taken as advice.0 -
Sounds to me like a name or address issue where they are bringing up the wrong profile information.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.0 -
Hi All
has anyone got any experience with annexes?
have a client who wants to buy a 5 bed detached bungalow but it also have a detached 1 bed annexe (with the dreaded fitted kitchen so cannot be removed for valuation day) which has its own entrance. It is on the same title and does not have an independent electricity supply but does have its own boiler
clients parents will be contributing £200k towards deposit and living in the annexe but cannot go on mortgage due to age.
anyone done any mortgages on annexe recently and know if this would fit criteria. Is at about 30% ltvI 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.0
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