Yorkshire building Society & Ipswich building society ?Anyone have experience good or bad

apau77

I am getting ready to apply for 90% mortgage with YBS or IPS next month. I need to use them because of my credit history (1 default which is satisfied).
I got AIP with YBS before the lockdown.
Anyone have experience with YBS or IPS?

dimbo61

We had an offset mortgage with YBS back in 2005 which was brilliant for us at the time. However we were looking at 50%LTV and both working with clean history 

sjc93

We've just gone through the process with YBS for a 95% mortgage. Absolutely brilliant from start to finish so far. This was only a week or so before lockdown (17th March we received our offer, we submitted the app on the 9th) and they have been nothing but outstanding for us. Helpful, and when we've had our solicitor ask stupid requests, they've gotten back to them immediately.

I'll add that I don't have the best credit either (CC debt, 1 default that hasn't been settled) but my partner has excellent credit & they still gave us the offer.

apau77

Hi sjc93,
Thanks for sharing your experience. Very encouraging.

I was not able to submit my full application before lockdown was announced.

I will apply for their 90% mortgage for new when product is available. 

Kiwistrawb1990

sjc93 said:

We've just gone through the process with YBS for a 95% mortgage. Absolutely brilliant from start to finish so far. This was only a week or so before lockdown (17th March we received our offer, we submitted the app on the 9th) and they have been nothing but outstanding for us. Helpful, and when we've had our solicitor ask stupid requests, they've gotten back to them immediately.

I'll add that I don't have the best credit either (CC debt, 1 default that hasn't been settled) but my partner has excellent credit & they still gave us the offer.

You've no idea how encouraging this is ❤️ was your affordability good? I'm in similar position, not the best credit but affordability is excellent and partners credit is also excellent x

sjc93

Kiwistrawb1990 said:

You've no idea how encouraging this is ❤️ was your affordability good? I'm in similar position, not the best credit but affordability is excellent and partners credit is also excellent x

I'm so glad it's encouraged you! So between myself and my partner we earn circa £50K+ a year, my partner has a lot of disposable income and I have about £2-300 at the moment (with overpaying on debts) so we could borrow I believe up to 235K (we've only borrowed 218K) but we visited a broker who wasn't the best, but also said we had no way of getting a mortgage (even with Accord, who are a sister company OF YBS) - so we went online and did it ourselves direct and experienced no issues at all. Feel free to PM me if you have any other questions, happy to help & unload the worries (I know how it feels!!)

Kiwistrawb1990

sjc93 said:

Kiwistrawb1990 said:

You've no idea how encouraging this is ❤️ was your affordability good? I'm in similar position, not the best credit but affordability is excellent and partners credit is also excellent x

I'm so glad it's encouraged you! So between myself and my partner we earn circa £50K+ a year, my partner has a lot of disposable income and I have about £2-300 at the moment (with overpaying on debts) so we could borrow I believe up to 235K (we've only borrowed 218K) but we visited a broker who wasn't the best, but also said we had no way of getting a mortgage (even with Accord, who are a sister company OF YBS) - so we went online and did it ourselves direct and experienced no issues at all. Feel free to PM me if you have any other questions, happy to help & unload the worries (I know how it feels!!)

Thank you so much. We both have a lot of disposable income as well, with no debt at all except cars on finance. It's just so stressful knowing that if we aren't successful it'll be because of me. We have spoken to our broker today who is relatively confident. We only need to borrow £215k and our combined income is £60k.
Im so happy for you xx

Alter_ego

We save with YBS, they always do exactly what they say they will.  You are welcome to borrow our money!!

apau77

YBS aren't offering 90% mortgage on new build.  It offer 85% maximum on new build. 

IBS are offering 90% on new build but the rate slightly higher. 

I'm not sure if I need to wait until YBS offer 90% or go with IBS?

sjc93

It's entirely up to you - I've never had experience with IBS, but I can't imagine they operate any different to any other building society.

apau77

The only reason I'm going with IBS is that YBS don't offer 90% mortgage currently.