Easier Mortgage Applications?

kingstreet

JaneKlue wrote: »

I work as a consultant, so I don't have a permanent job

So you want your borrowing power based on your daily contract rate and not on your accounts, or HMRC statements?

That's usual for a contractor.

Lenders aren't going to accept your income from bank statements alone. Those who are CIS contractors (construction industry) can get their borrowing power based on a minimum of three months invoices, backed-up with three months bank statements.

If we take a step back from the gist of this thread, people need quality advice from experienced brokers, regardless of how this is delivered. I don't want your business, or anyone else's from here, but to use us, all you commit to is our £250 fee (if you don't buy from one of our panel builders) and one face to face meeting to hand over your documentation where we will come to you at a time and place convenient to you.

Hundreds of people each year can live with that...

JaneKlue

TAWBristol wrote: »

I did not pay Habito. On the breakdown they sent me, it clearly shows Natwest pay them £700 for arranging the mortgage.

this is truly interesting, so the bank that the mortgage is approved with - pays them...:j

JaneKlue

kingstreet wrote: »

Lenders aren't going to accept your income from bank statements alone. Those who are CIS contractors (construction industry) can get their borrowing power based on a minimum of three months invoices, backed-up with three months bank statements.

I was hoping my husband's documentation would be fine, but inevitably I believe we will place the house in my name. If we use his details will that still work? What happens when one works through the panel builders re the fees to be covered?

TAWBristol

JaneKlue wrote: »

this is truly interesting, so the bank that the mortgage is approved with - pays them...:j

Yes, the bank/lender pays them.

On the Virgin Money illustration I had sent first, before Natwest it showed that they would pay them approx £800, so I guess they have different relationships/ commissions with different lenders - but I personally thought I got a great service ( which to be honest, I wouldn’t have minded paying for) but the fact it was free was a huge bonus!!

You’ve nothing to lose by giving them a whirl and seeing what happens I guess?

Good luck!

Irenita

Hi Jane,

I have been following this thread as I am also looking for easier online mortgage application options. I was just wondering if you had any luck with your application? Who did you decide to work with in the end and what the process was like?

I'm hoping that you'll share some positive insights into this when you can.

Thanks!

Ciao