mortgage advice well before applying

red84_2 · 3 June 2015 at 6:02AM

Hi, I've been looking all over the Internet but cannot find the answer to my question so I've come along here to see if anyone can help.
Me and my wife are considering the possibility of a mortgage in the future, we're not looking to get one at the moment as I have a default on my credit file from around two years ago and I'm still repaying (credit card with an arranged monthly payments), I owe about 4k on it now.
What she'd like to do is book an appointment with our bank (santander) and discuss what our options might be in the next few years. I.e. How much deposit will be needed, what the effect of the default will be, and so on.
What I'm worried about is if we do book a meeting, it'll turn into a sales pitch (which we know, ultimately we'd never be approved for a mortgage anyway), with us filling out forms and then a credit check, which will be on my file and set me back even further.

What I'm really asking, is is it worth setting a meeting with the bank when we don't actually want to apply for a mortgage, or is there somewhere more suitable to have an informal discussion about the matter?
Personally I'm happy just looking over forums like these and seeing what other people have experienced but she's very particular about hearing it from someone's mouth.

Anyway, thanks for for taking the time to read all that, any advice would be greatly appreciated.

KRB2725 · 3 June 2015 at 6:09AM

I don't see the point in a meeting in all honesty. You can get all the info you need online. Pay off as much debt as possible, then save as much as possible!

libf · 3 June 2015 at 6:49AM

Nationwide wouldn't let me book a meeting unless it was to do an application. The mortgage adviser did give me his email address so I could ask questions though.

betmunch · 3 June 2015 at 6:57AM

I think its a good idea to get advise as soon as possible, but not from a bank.

What if Santander tell you they wont accept an application until your credit file is completely clear, but Bank XYZ would accept you as you are?

If you go to Santander they will tell you their stance as if it covers every bank, but it doesnt. This will lead you to waiting an unnecessarily long time before you can buy.