Mortgage broker - ask me anything

pinklady3333

Quick question about the Santander mortgage process please. 

I applied on 23/10 valuation booked for 10/11. Do you know at what point I will end up in the underwriting queue (as per the dates referred to on the intermediaries tracker website) 
Am I already in the queue? Or will I go into it after the valuation date?

is there a price threshold for the three types of valuation? Desktop/drive by and actual physical valuation? What determines what type they do? 

Thanks in advance 

MSN2220

Hi. Do you have any current applications with Kent? 

We send additional docs (queries of payments on bank statements) on 28th Oct. was due an update today but they have said Wednesday instead now. 

What are the current timelines Please? 

Thanks. 

haras_n0sirrah

MSN2220 said:

Hi. Do you have any current applications with Kent? 

We send additional docs (queries of payments on bank statements) on 28th Oct. was due an update today but they have said Wednesday instead now. 

What are the current timelines Please? 

Thanks. 

I have about 8 in with kent - they have been slowing up recently. We are currently being told 7 working days

haras_n0sirrah

pinklady3333 said:

Quick question about the Santander mortgage process please. 

I applied on 23/10 valuation booked for 10/11. Do you know at what point I will end up in the underwriting queue (as per the dates referred to on the intermediaries tracker website) 
Am I already in the queue? Or will I go into it after the valuation date?

is there a price threshold for the three types of valuation? Desktop/drive by and actual physical valuation? What determines what type they do? 

Thanks in advance 

You should already be in the queue

haras_n0sirrah

Gavin74 said:

haras_n0sirrah said:

Gavin74 said:

Hi.
I'm thinking about buying a property which would be both our family home and a property letting business.
Where do I even start with mortgages for that sort of arrangement?

I am not 100% sure what you mean. Do you mean a letting agent below and a flat above to live in?

It's a house, with a couple of small cottages as holiday lets.

Are the holiday lets on the same title?

haras_n0sirrah

MP2609 said:

Hi there, I am currently thinking of starting an eBay business which I hope to run in the evening alongside my full-time job. Now my salary would cover my mortgage application fine but would I disclose any sort of additional income to the broker if I can cover it with just my salary? 
I am just thinking of doing this as I want to ensure I can generate as many income streams as possible given the current situation? 
Many thanks in advance 

If I was your broker I wouldn't disclose it if it isn't required

ChonkyChops

Do you happen to know if a mortgage application was sent to the wrong underwriters (needed to be sent to a contracting underwriter, but was sent to standard one) that it would have be underwritten again fully taking the total estimated current underwriting time? i.e. we've waited 14 working days on the incorrect underwriters, do we have to wait 14 days for the correct one now? Or can information be shared to speed up the process? THANK YOU!

Ennu

Hi, 
I have my residential capital repayment mortgage with HSBC. The 2 year fixed term (1.59%) ends on 31st Jan. I have 30k left on the mortgage. I’ve just received a letter from the bank saying that my term is coming to an end and that I’ll be moved onto the banks variable rate which is 3.94%. The letter goes onto say that because I don’t have enough term left on the mortgage (due to be paid off Nov 22), they cannot offer me any deals. 

Ordinarily when one term ends, I set up a new term to get best rates. In this instance, I’m not sure what to do. I don’t have enough savings to pay off the mortgage but feel like I’m being penalised for working so hard to pay it off. 

Can I move my mortgage to another provider this late in the day? Is it worth doing or should I just suck it up, so to speak? 

Any advice would be gratefully received. 

Thank you

Gavin74

haras_n0sirrah said:

Gavin74 said:

haras_n0sirrah said:

Gavin74 said:

Hi.
I'm thinking about buying a property which would be both our family home and a property letting business.
Where do I even start with mortgages for that sort of arrangement?

I am not 100% sure what you mean. Do you mean a letting agent below and a flat above to live in?

It's a house, with a couple of small cottages as holiday lets.

Are the holiday lets on the same title?

Yes they are

dewaart

What is best at the moment, a 3,5 or7 year fixed mortgage?