Mortgage broker - ask me anything

haras_n0sirrah

We brokers who post here are not allowed to name lenders on the forum as it can constitute advice without a full fact find. We are working brokers and posters are able to contact us for help as a broker if they wish (we are not allowed to contact posters but posters can pm us). 

Dolbls7

haras_n0sirrah said:

I have my own question. Purely for research (being nosey) purposes.

Those of you who are getting mortgages now did you go
1) direct to lender
2) via a fee charging broker
3) via a fee free broker 
4) via an estate agency broker
And what made you choose the route you chose? Would you do anything differently next time?

 For those that chose a broker what made you choose that broker (were they the cheapest, most responsive, friendliest etc)

Used Fee charging broker last move, they were invaluable and took so much stress out of the equation. Wouldn’t have moved without him. This time used fee charging broker from here after reading sensible, informative replies and like the description ‘think of us like doctors we’ve seen it all’! 
 

haras_n0sirrah

Dolbls7 said:

haras_n0sirrah said:

I have my own question. Purely for research (being nosey) purposes.

Those of you who are getting mortgages now did you go
1) direct to lender
2) via a fee charging broker
3) via a fee free broker 
4) via an estate agency broker
And what made you choose the route you chose? Would you do anything differently next time?

 For those that chose a broker what made you choose that broker (were they the cheapest, most responsive, friendliest etc)

Used Fee charging broker last move, they were invaluable and took so much stress out of the equation. Wouldn’t have moved without him. This time used fee charging broker from here after reading sensible, informative replies and like the description ‘think of us like doctors we’ve seen it all’! 
 

I said that - it is very very true lol

Liam4410

Hello
I was wondering if someone could provide me with some advice. 

Myself and my partner are wanting to move house early next year. Due to a stupid admin error on my part (I failed to notify a mobile phone company that I had changed address I.e late payment letters went to the wrong address) I have a credit score in the mid 500s with a default of just over a year ago. My partner is in a better position with no black marks against her and a score in the mid 700s. 

We own our current property and are in very secure jobs with our pay increasing significantly over the next two years.

Taking into account our credit scores and my defaulted mobile phone account would we need to approach a “bad credit” broker/lender or would it be worth trying to approach a normal broker/lender?

yousnorkmaiden

haras_n0sirrah said:

yousnorkmaiden said:

Any experience with reasonably high credit utilisation and Santander? I'm at 75% (£15k), with a 'fair' credit score - I had a few late payments (1s) 38 months ago. My husband's is good - low credit utilisation. 
We have DIP from them through a broker who seems quite good - we've good salaries (£150k between us), not affected by Covid in any way. 83.1% LTV - we're borrowing less than half of our affordability. 

If you have an aip you should be fine

Thanks! I have no soft (or hard) searches on my credit file from them, is that normal?

harsxx

Hi . Just wondering would it be possible to obtain a mortgage from a high street lender or would it have to be a specialist lender when buying from your landlord at a discounted price. I'm a private tenant.  Lived in same property for 16 years. When buying at a discounted price does the landlord have to be related to you to get the discount or not. As I am no relation to my landlord and wanted to purchase at a discounted price . I have heard that the discount that is offered becomes part of your deposit. Just wanted to know if any high street lenders offer this kind of mortgage? Thanks

haras_n0sirrah

harsxx said:

Hi . Just wondering would it be possible to obtain a mortgage from a high street lender or would it have to be a specialist lender when buying from your landlord at a discounted price. I'm a private tenant.  Lived in same property for 16 years. When buying at a discounted price does the landlord have to be related to you to get the discount or not. As I am no relation to my landlord and wanted to purchase at a discounted price . I have heard that the discount that is offered becomes part of your deposit. Just wanted to know if any high street lenders offer this kind of mortgage? Thanks

Yes - some high street lenders do transactions under value from landlords 

haras_n0sirrah

Liam4410 said:

Hello
I was wondering if someone could provide me with some advice. 

Myself and my partner are wanting to move house early next year. Due to a stupid admin error on my part (I failed to notify a mobile phone company that I had changed address I.e late payment letters went to the wrong address) I have a credit score in the mid 500s with a default of just over a year ago. My partner is in a better position with no black marks against her and a score in the mid 700s. 

We own our current property and are in very secure jobs with our pay increasing significantly over the next two years.

Taking into account our credit scores and my defaulted mobile phone account would we need to approach a “bad credit” broker/lender or would it be worth trying to approach a normal broker/lender?

There are some lenders who ignore defaults under a certain amount provided it is satisfied prior to application - how much was the damage?

Liam4410

haras_n0sirrah said:

Liam4410 said:

Hello
I was wondering if someone could provide me with some advice. 

Myself and my partner are wanting to move house early next year. Due to a stupid admin error on my part (I failed to notify a mobile phone company that I had changed address I.e late payment letters went to the wrong address) I have a credit score in the mid 500s with a default of just over a year ago. My partner is in a better position with no black marks against her and a score in the mid 700s. 

We own our current property and are in very secure jobs with our pay increasing significantly over the next two years.

Taking into account our credit scores and my defaulted mobile phone account would we need to approach a “bad credit” broker/lender or would it be worth trying to approach a normal broker/lender?

There are some lenders who ignore defaults under a certain amount provided it is satisfied prior to application - how much was the damage?

So it was £109 just over a year ago. Do you have any ideas who these lenders would be?

shondoc

We are looking to buy and have a 20% deposit. Both our credit scores are excellent although I still have my old mortgage with my ex husband on my credit file which was settled 3 1/2 years ago. There were late payments on this for the last year due to the divorce. Will this prevent us getting a mortgage? We are looking at Halifax and Barclays.