Mortgage broker - ask me anything

haras_n0sirrah

dejl123 said:

Apparently it was because of my monthly pension payments and the fact that my wife isn’t working. They were aware of both of these factors from the start though, as the application was only ever based on my wage and they had payslips from me as well. Santander did this before though - for our current mortgage - so I wasn’t that surprised. 

If things are imput correctly Santanders calculator should be pretty accurate. If Santander won't lend enough then you will need to go to another lender but I would avoid platform.

dejl123

Why would you avoid platform? I just wondered if the original Santander application could be reopened, or would it be a case of start from scratch again?

haras_n0sirrah

dejl123 said:

Why would you avoid platform? I just wondered if the original Santander application could be reopened, or would it be a case of start from scratch again?

Platform are currently very slow. I don't think the Santander one can be reopenned but what has changed that means they would now lend enough?

dejl123

We would have to use more of our savings to put down a bigger deposit, which we didn’t want to do, but it looks like it would have been the better option, rather than go with Platform. I rushed into the decision really, which I now regret. 

haras_n0sirrah

dejl123 said:

We would have to use more of our savings to put down a bigger deposit, which we didn’t want to do, but it looks like it would have been the better option, rather than go with Platform. I rushed into the decision really, which I now regret. 

The only real option is to speak to the broker and see if they can reopen it - it may depend on how long ago it was closed but no harm in asking. If the answer is no you will need to reapply

Tortoiseshell20

Hi, do any of the AMA brokers know whether or not Nationwide are likely to approve a mortgage porting request where the balance of the mortgage stays the same, but the new property is worth 10% or so less than the property being sold. 

dejl123

Thank you for your help, it’s much appreciated. Last question, will it be a problem if I have to reapply with Santander in regards to my credit rating, with 3 hard checks being done in 3 weeks? (Santander, Platform and Santander again). 

jrrrrj

Hi all,

I had an offer accepted on a house on 22/10. My mortgage advisor, Trussle, have recommended Halifax as the lender of choice.

I had some late payment on a PayPal and Next store card accounts earlier this year (March). They were late by one month and are now up to date and I closed the Next account. Embarrassingly it was down to not setting up direct debits!

My Experian credit score is 999, their top score. I’ve closed lots of random credit cards this year that I wasn’t using and I don’t have any loans, debt etc.

in February 2019 I resigned as a director and majority share holder of the company I work for. I have a contract of employment in place, payslips to evidence my £40k pa income and companies house reflects the resignation etc. No dodgy dealings. Just didn’t want to be a director any longer. 

Trussle said they think this should all be ok. The AIP from Halifax came back ok on 23/10. My deposit is 15%. The valuation has been paid for and awaiting scheduling due to the Wales lockdown. 

If there are any professionals here that could offer insight into likelihood of proceeding that would be great. 

haras_n0sirrah

Tortoiseshell20 said:

Hi, do any of the AMA brokers know whether or not Nationwide are likely to approve a mortgage porting request where the balance of the mortgage stays the same, but the new property is worth 10% or so less than the property being sold. 

As long as you have a minimum of 10% deposit then I dont see why not 

haras_n0sirrah

jrrrrj said:

Hi all,

I had an offer accepted on a house on 22/10. My mortgage advisor, Trussle, have recommended Halifax as the lender of choice.

I had some late payment on a PayPal and Next store card accounts earlier this year (March). They were late by one month and are now up to date and I closed the Next account. Embarrassingly it was down to not setting up direct debits!

My Experian credit score is 999, their top score. I’ve closed lots of random credit cards this year that I wasn’t using and I don’t have any loans, debt etc.

in February 2019 I resigned as a director and majority share holder of the company I work for. I have a contract of employment in place, payslips to evidence my £40k pa income and companies house reflects the resignation etc. No dodgy dealings. Just didn’t want to be a director any longer. 

Trussle said they think this should all be ok. The AIP from Halifax came back ok on 23/10. My deposit is 15%. The valuation has been paid for and awaiting scheduling due to the Wales lockdown. 

If there are any professionals here that could offer insight into likelihood of proceeding that would be great. 

What employee number is on your payslip? If you have a low employee number it may prompt them to look at companies house which may open up some questions. Do you hold any shares in the company and if so what %?