We're aware that some users are experiencing technical issues which the team are working to resolve. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Need a broker

Options
1235»

Comments

  • chunkytfg
    chunkytfg Posts: 850 Forumite
    Part of the Furniture 500 Posts
    ACG wrote: »
    I am not sure how long they stay. I think someone posted a link on page 1 of this thread which may help.

    There is no harm trying another broker before giving up, but I would explain everything fully and see what they say. Failing that, it might be a case of having to hold fire. Applying blindly wont help and infact could actually go against you in the long run if they keep reasons for why you were declined.


    Would that ship not have already sailed?

    OP has already been declined 3 times so 3 hard searches in what i would guess would be a pretty short space of time.:eek:
    Those who risk nothing, Do nothing, achieve nothing, become nothing
    MFW #63 £0/£500
  • ACG
    ACG Posts: 24,510 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    There are maybe 10 lenders who all charge decent rates and at one point or another are usually at the top end of the table. If he has applied to 3, that still gives him a good chance of getting a decent lender in the future.

    In fairness, not all of those lenders will keep records but after 6 or 7 years in the job I have no idea which ones do so I would want to keep my options open when I am in a better position.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • If you do see another broker I wouldn't offer anyone 5k. The reason is we have to put fees on applications and both the network and lender see the fees paid.

    Nothing screams bribe more than a massive fee and would probably make the fca identify the broker as complicit in an attempted fraud if the lender saw your application that way.

    If you want to try a broker then be upfront, be honest and see if they will help (without waiving money at them) but if the broker doesn't want to take the risk then you may just have to wait for past mistakes to be forgotten by the fca and not repeat them in the future

    I hope a few people on the loans and credit card boards see this. The number of times people say there is no harm to inflating income because it won't be checked - this shows what can happen if you follow that ethos.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic

    I hope a few people on the loans and credit card boards see this. The number of times people say there is no harm to inflating income because it won't be checked - this shows what can happen if you follow that ethos.

    Probably one reason why self declared mortgages are no longer being offered
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • I wonder if people who claim their self cert mortgages were missold as their income was inflated end up on national hunter?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Quite likely, rightly so too.
    The actions of some have effects on the rest of us.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.7K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.4K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.