Mortgage expert needed.

knightstyle

Ours is a complicated mortgage hunt and I am fed up with filling in forms, online and paper only to be told "we don't deal with of mortgage, try someone else"!!!!!
Why can't they tell me before requesting all the info?
So DD and the two us live in our mortgage free house. We want to move with DD to a new location and let this house.
We have £110k as deposit and need another £120k for the purchase, yes we have other funds for the expenses.
DD born 1973 earns £16k DW, 1947 has pensions of £14.5k and I, 1945 have pensions of £14k plus this house will rent easily for £650 a month.
No debts, not even a mortgage and excellent credit history, the house can be in any or all our names.
Who will lend us the money?

Carrot007

Unless you have a head for running a business you would be better off selling up and moving.

ACG

DD/DW? No idea what that means but I will just assume David Winner and someone with DD as their initials.

This will be possible to place, and your flexibility will give you more options.

Have you called up a local mortgage broker rather than a large firm? I would expect any experienced broker to be able to place this with a bit of work - whilst I have confidence it can be placed, it wont be a piece of cake, there will be a lot of research involved.

jimclark1967

Sounds like one for a mortgage broker.
We found Bank of Ireland were OK when we wanted to retain a mortgage free flat. HSBC turned us down though.

knightstyle

DD is Dear Daughter and DW is Dear Wife.
We are seeing Halifax advisor on Friday as he says they can lend us the money BUT I think it will be another waste of time and he just wants to get his seen numbers up!
Selling up is not an option at the moment.

[Deleted User]

Mortgages with 3 incomes is acceptable to some lenders. Also lenders who do not have any upper age limits are around as well.

Doesn't sound like an overly complicated case to be honest. Obviously we are missing 99% of the required information for a full fact find but on the face of it, it seems ok

Who have you spoken to so far? Any brokers?

knightstyle

Thanks have spoken to Nationwide, Mortgage Genie, Unbiased and Trinity as advised on MSE.

foxy-stoat

I would speak to a whole of market broker rather than individual lenders. You may be wasting your time going to Halifax directly.

knightstyle

I thought Mortgage Genie, Unbiased and Trinity were whole of market?

ACG

You are speaking to large firms. They have hundreds of leads coming in and they are probably not that interested in cases like yours (that requires a bit of effort) when they have 50 easier leads on their desk.

You need a small local broker who has the time and experience to put in to it.

Mortgage_Adviser

It appears that OP is only trying to go to either lender's directly ot fee free brokers as for example I believe Trinity have the arrangement with MSE not to charge their clients.
It can be that this approach needs to be changed as your case is fairly complex and the small anout you are after will mean that the fee free borker will only earn from the lender circa £350 gross.
So after all the company/introducer pay outs the individual broker will make may be in a region of £150 before any tax of you.
Hence the lack of intrerest in yout from the brokers you have currently as this will require a number of hours work and the money earned will be less than the electrician would charge for an hour of work.