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90% LTV during Covid
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Thanks for your advice. I'm getting some concerns about what our broker has been telling us! We were shown the best deal for us a month-ish ago and he would wait to produce the AIP as better rates were coming up all the time. He encouraged us to offer whilst he got our AIP sortedMysteryMe said:I would not make offers until you know what sort of mortgages are on offer. You are only a credible buyer if you can proceed. It should not be a case of you being able to " get something" you want to be able to get a mortgage that best suits your needs. It's a major commitment so you need to consider all options. Hopefully you wont have to wait too long.1 -
Are you paying the broker a fee?No reliance should be placed on the above! Absolutely none, do you hear?0
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No - we pay after the mortgage offer is in.... so I guess it in his interests to try and make this workGDB2222 said:Are you paying the broker a fee?0 -
Plus it's worth his while to try to hang on to you as clients by making promises ... Anyway, you'll know in the next few days. I read in the news that there's plenty of mortgage money around, looking for a safe home.LittleNinja said:
No - we pay after the mortgage offer is in.... so I guess it in his interests to try and make this workGDB2222 said:Are you paying the broker a fee?No reliance should be placed on the above! Absolutely none, do you hear?1 -
Yes, that means much bigger deposits though.GDB2222 said:
Plus it's worth his while to try to hang on to you as clients by making promises ... Anyway, you'll know in the next few days. I read in the news that there's plenty of mortgage money around, looking for a safe home.LittleNinja said:
No - we pay after the mortgage offer is in.... so I guess it in his interests to try and make this workGDB2222 said:Are you paying the broker a fee?0 -
Hey, we have been looking at similar.
Beyond HSBC & FirstDirect (owned by HSBC) there have not been very competitive rates for 90% LTV.. most lenders either charging a premium or pulled those products entirely.
This has meant HSBC were overwhelmed with applications. They have placed a limit on how many they can accept from brokers. I think FD are a bit picky too.
It sounds like your broker either thinks you don't fit the lender's criteria or don't think they can get you an application in. Unless you have any other iffy circumstances (furlough, self employment, credit blips) try applying directly for HSBC AIP, which is a soft search. We eventually had to book a telephone application as the online portal couldn't handle our application either.
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Thanks for this - my partner are going to try for HSBC directly tomorrow if the broker cannot come up with anything.Facknats said:Hey, we have been looking at similar.
Beyond HSBC & FirstDirect (owned by HSBC) there have not been very competitive rates for 90% LTV.. most lenders either charging a premium or pulled those products entirely.
This has meant HSBC were overwhelmed with applications. They have placed a limit on how many they can accept from brokers. I think FD are a bit picky too.
It sounds like your broker either thinks you don't fit the lender's criteria or don't think they can get you an application in. Unless you have any other iffy circumstances (furlough, self employment, credit blips) try applying directly for HSBC AIP, which is a soft search. We eventually had to book a telephone application as the online portal couldn't handle our application either.0 -
Ooh can you tell me which ones please? I sell new builds, would be useful to know. Are the rates competitive?haras_n0sirrah said:There are lenders doing 90% - I booked two of them this week
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Unlikely now IMO, could be wrong though.Sammyd159 said:
Ooh can you tell me which ones please? I sell new builds, would be useful to know. Are the rates competitive?haras_n0sirrah said:There are lenders doing 90% - I booked two of them this week0
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