Having a nightmare getting a mortgage!

jen1301

Info2016 wrote: »

Thanks. I have been on the phone with an advisor this morn who said he can sort it out no problem and within 6 weeks however there charge was £1500 which seems steep, he even admitted they are one of the most expensive but he is a specialist in self employed and has whole market access.

I will try the Finance advice centre on Monday as there was no answer earlier.

If you dont mind me asking how much was your mortgage as I think they base the cost on the mortgage amount.

We have quite a large deposit so I guess our mortgage of just under £100k is fairly small.

I'm not sure how their fees work but it's worth looking into.

Info2016

Sure. Ours is around 155k

Well below what the bank said they could lend us. Hopefully I get a recommendation from another member for a reasonably priced advisor as £1500 does seem a lot! He said he also gets commission as well.

lee111s

Info2016 wrote: »

It's not that I can't afford one but I don't have loads of excess money to be going back and forth racking up a huge bill.

By the looks of it I will be needing an advisor.. Or at least some paid knowledgeable advice from one!

If you don't have any spare cash, should you really be buying a house?

Info2016

See reply above..

brenda10

Info2016 wrote: »

Hi.


Here is a bit of back ground info on my self;

I am self employed and have been since Nov 2012, until last August I was a sole trader and I have three years SA302 to show for that.

I am now a LTD company and will have my end of year account at the end of August and a projection (99% accurate) as of tomorrow.

Last month I arranged a mortgage with Yorkshire building society and it was approved along with my girlfriend who is in full time employment, they said they would use my last three years SA302 for the mortgage and next step was to put an offer in as I have my mortgage in principal.

Fast forward until today when I have put a mortgage offer in on a property and been accepted, I ring Yorkshire up to get the ball rolling and was told I am out of there criteria and it has to be checked by an underwriter once I submit my projection figures. To say I am P1ssed off is an understatement, before this they were easy going and told me everything is going as planned.

Is there any members on here who can point me in the direction of a company who will take three years SA302 and a projection which will be 99% accurate as my first years account get filed on the 31st August.

The business is still the same line of work, literally no change other than I have to go LTD.

A mortgage advisor would be great however putting a 10% deposit down plus all other fees I dont have much left!


Thanks in advance

Don't give up on your application yet, underwriter checks happen people who are employed also.
Good Luck.
£1500 is horrendous!
Underwriting may take few weeks, keep calling and checking.

Info2016

They didn't seem positive when speaking to them if I'm being honest.

If it's going to take weeks I don't know whether to cut my losses so far and get an advisor to take over and arrange a new mortgage for me which will hopefully speed things up as the current home owner would like to be out soon as possible.

Also they said it will be referred from the credit check, will this have a negative impact on my credit history?

Info2016

Has anyone else got a recommendation? Especially someone who specialises in self employed mortgages.

csgohan4

try unbiased.co.uk


I got mine from MSE, try PMing a few on here, make sure they accept PM's. I know Kingstreet doesn't entertain business on here, as per their signature.

Info2016

Thanks. Just got a couple of numbers from Unbiased so will try them tomorrow.

Yorkshire building society has said that the next stage is the credit check which will be referred, is it worth trying to go ahead with them or possibly cutting my losses and going with a broker and a new bank?

I don't want to be referred and then declined only to find my credit file is affected and I can be potentially declined further down the line due to this.