is this a good deal?

raq

Sent a post on sunday regarding lenders, anyway have had information from our financial advisor with with the following


23 years £130k repayment ( which is what we wanted ) at £860.00 per month.

2 year fixed at 5.6 with a company called The Mortgage business ( TMB )..

Unfortunatelythe fees are high at £2500.00. When mentioned this he said that aren't a lot of lenders out there now doing low or non fees !!!

This is also self cert as husband is self employed .

Any thoughts would be great.

Thankyou

herbiesjp

HOw long has hubby been self employed?

How many years accounts does he have? What are his NET profit figures?

Do you have an income to take into account?

raq

only 10 months with book information. hopefully yearly profit will be £26k plus my 5k on wftc/child benefit.

Credit scoring is "middle of the road".

herbiesjp

Did you try your own bank? SOmetimes they can have a pre-agreed mortgage amount, or base a decision on the cashflow on your account.

This could turn up a cheaper deal or lower fess - just an option

raq

herbiesjp wrote: »

Did you try your own bank? SOmetimes they can have a pre-agreed mortgage amount, or base a decision on the cashflow on your account.

This could turn up a cheaper deal or lower fess - just an option

am with the Halifax and I suppose I could give them a try. When we tried them 2 years ago we where £14k short, although our income was much lower.

Shall I mention this to the f.advisor or go of my own back??

Rick62

This was about the best Fixed rate in the market (leaving aside that it is also self cert). I can't comment on what is best for you, I don't even know if you are purchasing or remortgaging? If remortgaging First Direct have just brought out 5.75% Fixed with only £999 fee, but I don't know if you would qualify.

If you are going for the TMB you need to get your online application in TODAY as this product is being withdrawn.

raq

Rick62 wrote: »

This was about the best Fixed rate in the market (leaving aside that it is also self cert). I can't comment on what is best for you, I don't even know if you are purchasing or remortgaging? If remortgaging First Direct have just brought out 5.75% Fixed with only £999 fee, but I don't know if you would qualify.

If you are going for the TMB you need to get your online application in TODAY as this product is being withdrawn.

thanksfor that infom. we are changing lenders. Got 98k equity in house. gmac finishing with 15th september.

Rick62

Sorry, not First Direct, First Active. They will accept self employed, if you have either 2 years audited accounts, or two years tax returns or if you have an accountant that can confirm your accountants income and if these support adequate income, for £130k mortgage you will need to show about £30k to £35k of income.

Speak to your advisor, the First Active deal has only just been released, so is maybe not yet showing on his sourcing system, but he will be able to advise if you will be eligible.

hezb

Halifax will not self cert or go on account useage!!! know this as we are with them at the mo and self employed (won't be soon as we are going mortgage free!!!!!!!!!!!)