Mortgage Broker Error?

butterflybook

Its certainly a question that i always ask of a leasehold property

Skuk

Thrugelmir wrote: »

When weighing up whether to make an offer for the property. Did you not consider these costs into assessing affordability yourself.

Neutrinno wrote: »

That doesn't change the fact the broker still should of asked these details to allow for his and the lenders affordability checks to be completed properly.

Thank you Neutrinno. I certainly did weigh up these costs Thrugelmir and have now found out today that Santander have swiftly issued me a mortgage with no issues.

Skuk

haras_nosirrah wrote: »

I am guessing the figures have come from the valuer who did ask the question as the broker should have.

How much is halifax out? I managed to get them to go up 8k on a case of mine recently on appeal even though technically outside their affordability.

Any small debts that could be cleared,?

davidmcn wrote: »

If you didn't provide the information then where have they got the figures from? Are they accurate?

ACG wrote: »

Can you add a year or 2 to the term to make it fit and then overpay?

I'm actually not sure if they have the accurate details for the SC and GR, i just lost complete faith in my broker and went elsewhere and now have had a mortgage offer within a short space of time.

I have a car on finance and no other debts and was only asking for 90k. Service Charge £56 and GR £17.- Its all very affordable but Halifax reduced the amount they could lend to £80k- potentially they could have had an inaccurate service charge and ground rent now that has been pointed out!

I will speak to the old broker as to why she did not complete the application with a ground rent and service charge and hopefully i can get the valuation fee back- I've not had a copy of the valuation, the application, or anything correspondence from Halifax so feeling very dubious about where my £200 went!

kingstreet

When your client tells you they are buying a flat the first things you know to ask are;-

the lease term
is it a newbuild (conversion, first occupation etc)
the ground rent & service charges
construction
number of floors
floor the flat is on
if there's a lift/or deck access.

These are the things you always need to know upfront.

ACG

Is it above commercial property

kingstreet

ACG wrote: »

Is it above commercial property

I knew I missed one!