FTB mortgage and new job

smnberryman

Hi

I've been in a job for 3 month now.

There is no probation period in my contract and I had been employed continuously in a similar role (elsewhere) for 6 years beforehand.

Having spoken to a mortgage broker I've been told that due to the recent job change I will be looking at higher rates. Initially I was think ~3.4% but now it's closer to 4%

Anyone shed any light?

I did think some lenders would not want to lend to me, but I didn't expect such a jump, or even no access to the lower rates.

My LTV is <80%

Thanks

hcb42

Do you even need a broker?

If everything is straightforward I would just be inclined to do it myself (but then I have never used a broker and bought seven properties )

I have never heard this either, doesnt seem fair to me. Although the numbers are believable, Halifax are offering from 3.34% with no arrangement fee for a 2 year fix £500 cashback and 5 year fixes are higher so nearer 4.0 seems reasonable.

(Disclaimer, I only picked them as they are mass market, not advice and I dont work for them!)

smnberryman

hcb42 wrote: »

Do you even need a broker?

If everything is straightforward I would just be inclined to do it myself (but then I have never used a broker and bought seven properties )[/QUOTE]

Probably not. I just thought it would makes things more simple.

hcb42 wrote: »

I have never heard this either, doesnt seem fair to me. Although the numbers are believable, Halifax are offering from 3.34% with no arrangement fee for a 2 year fix £500 cashback and 5 year fixes are higher so nearer 4.0 seems reasonable.

(Disclaimer, I only picked them as they are mass market, not advice and I dont work for them!)

Thanks, I have had a look around. The best 5-yr fix I could find was 3.4% which was offered by a few lenders, hence I didn't think there would be a 'problem'