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Changing mortgage product or mortgage provider

alifeforfriend
alifeforfriend Posts: 70 Forumite
Fifth Anniversary 10 Posts Combo Breaker
edited 26 February 2015 at 8:34PM in Mortgages & endowments
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Comments

  • amnblog
    amnblog Posts: 12,771 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    already on another thread and responded to:


    https://forums.moneysavingexpert.com/discussion/comment/67692086#Comment_67692086
    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.
  • kingstreet
    kingstreet Posts: 39,350 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If I remember correctly from one of the other threads on this subject, demonstrating the benefit in keeping it all together, you are talking about repayment of a loan being part of your deposit.

    Do not approach Nationwide with this. They won't accept it.
    Unacceptable Sources of Deposit

    Any loans taken out by your client, with the exception of borrowing from another lender against an additional property owned by the applicant (subject to affordability and criteria).
    Funding from credit cards
    Repayment of a loan from a third party

    http://www.nationwide-intermediary.co.uk/lendingcriteria/general/general#proofs
    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.
  • alifeforfriend
    alifeforfriend Posts: 70 Forumite
    Fifth Anniversary 10 Posts Combo Breaker
    edited 26 February 2015 at 8:34PM
    kingstreet wrote: »
    If I remember correctly from one of the other threads on this subject, demonstrating the benefit in keeping it all together, you are talking about repayment of a loan being part of your deposit.

    Do not approach Nationwide with this. They won't accept it.



    http://www.nationwide-intermediary.co.uk/lendingcriteria/general/general#proofs[/QUOTE
  • Leon_W
    Leon_W Posts: 1,813 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I would advise that you sat down with someone who knows what they are doing.


    Your landlord deposit scenario is not an insurmountable problem but you are just hitting and hoping (I have read the other thread).
  • kingstreet
    kingstreet Posts: 39,350 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Also i have another enquiry. Few years ago i loaned some money to one of my friend. So if i decide not to mention the seller deposit. and i can ask for my loan repayment from my friend and rest of the money i can ask my parents to give me as a gift. Will that be fine or that arrangement will cause any issues as well as i would be asking my friend for loan repayment so he will be transferring money to my bank , so how would i prove that its a loan repayment

    http://forums.moneysavingexpert.com/showpost.php?p=67687447&postcount=6
    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.
  • amnblog
    amnblog Posts: 12,771 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Leon_W wrote: »
    you are just hitting and hoping


    Don't knock it - where else can you pick up a nice crusty loaf whilst sorting out the mortgage?
    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.
This discussion has been closed.
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