Who will lend against 1 year accounts

lifegoeson2013

I know that ****** via an intermediary, will lend against 1 year accounts for sole trader.

On my previous surfing/searches I'm sure I came across another lender - anyone know the name?

thanks
Claire

ACG

There are around 4-5, I think there is only 1 maybe 2 who deal direct with the customers.

Dave_Ham

This is an ideal scenario where paying for formal, experienced broker will save you money.

Even on their premium products, there are more competitive products out there although dependent upon the detail

Best of luck

lifegoeson2013

Quite happy to pay, but my current broker only knows of one lender available to her.
Thought if I could find out others, then I can suggest to current broker or visit lenders website and contact affiliated broker via them.
Failing that I need to sit and go through every single lender myself, hence I'm asking here.
Thanks all!

Dave_Ham

It's not quite as simple as someone telling you which lenders will accept one year

This is due to there being a few variables and some lenders will accept certain factors and others won't

It could also appear as advice to name drop lenders and is against forum rules, but also commercially why would we do other brokers jobs and educate them remotely.

If your broker has genuinely only come up with one, get a new broker is this is schoolboy stuff.

All the best

amnblog

If you are going to do your broker's job for her get yourself registered with the FCA.

Otherwise, get a new broker, she is wasting your time.

lifegoeson2013

I appreciate all your viewpoints, thank you very much :-)

It seems to me that the rules of not being allowed to give advice is a bit of an oxymoron for what's supposed to be a forum for advice.

As an individual I feel penalised by these rules because if professionals didnt try to sell here in the first place, then the general public would get some help.

For example ACG mentioned " I think there is only 1 maybe 2 who deal direct with the customers"
Would someone care to enlighten me who these direct lenders are? Oh no, wait a minute, you're not allowed to advise... ha. Rock and hard place for me then. Meanwhile the home that I am considering is slipping through my fingers.

To find a reputable IFA is not easy either, took me ages just to find this lady who is actually very good, I believe.

So the time I might spend looking for an additional IFA is probably better spent going through all the lenders instead.

Please note that this is not for individuals on here, these are my feelings towards this forum's rules :-(

ACG

We dont come on this forum to sell, we do help and give advice however we are not allowed to mention specific lenders. The reason for this is that I could say xxx will do what you want, you then apply and they decline you because of something not mentioned - as financial services is heavily regulated we risk getting a complaint/losing our license.

There is more advice to be given than just the names of lenders - processes, timescales, people trying to overcome issues - we can tell them if they are wasting their time or not or when to look etc etc.

Personally I agree with Dave, if your broker is coming back with precise as the only lender to accept one years accounts you need another broker. Not only are they not the cheapest they are a nightmare to deal with at times. So unless you have something else causing your broker a concern (which we do not know about and hence why we do not name lenders) it means they are out of their depth.

I understand its not the answer you want but nobody here who is licensed is going to put their livelihood at stake.

The other thing that is concerning is whilst our sourcing systems are only a guide at best and we rely on extra knowledge - they should be bringing back more than just precise.

kingstreet

lifegoeson2013 wrote: »

It seems to me that the rules of not being allowed to give advice is a bit of an oxymoron for what's supposed to be a forum for advice

There is a difference between providing information and the kind of "advice" which is an FCA regulated activity.

Those of us who post on here are mindful of the difference.

As an individual I feel penalised by these rules because if professionals didnt try to sell here in the first place, then the general public would get some help.

You get experienced, knowledgeable people who post on here for nothing and you claim they do it to sell on here?

Frankly, it's ironic given the number of people I've turned down while posting here as I don't use this place as a means of getting business. I simply don't need it.

Do you really think 13,000 thanked me because I sold to them?

Dave_Ham

lifegoeson2013 wrote: »

To find a reputable IFA is not easy either, took me ages just to find this lady who is actually very good, I believe.

([/B]

You mean very nice, if she was good even average she would have this solved and application in by now.

Whilst we have to be very careful on here not to lead or be perceived as giving advice; its the wag it is

Lots of good information provided on here and whilst you are unlikely to get the golden ticket, proves to be useful to many.

Good luck with your search and purchase

MJP43

The brokers who come on here are brilliant in my opinion.

Where else would you get this level of advice for free ?