Mortgage broker - ask me anything

haras_n0sirrah

shondoc said:

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. 

If it was settled 3 and a half years ago why are there missed payments from last year?
Is the property sold or are you still liable for this mortgage?

shannonrodbourn

Are 5% mortgages likely to return in 2021? I saved up enough as covid hit, now being told to save double 

shondoc

haras_n0sirrah said:

shondoc said:

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. 

If it was settled 3 and a half years ago why are there missed payments from last year?
Is the property sold or are you still liable for this mortgage?

Sorry I should’ve been more clear, the last year of this mortgage had late payments it was settled in May 2017. I am no longer connected in any way. 

haras_n0sirrah

shannonrodbourn said:

Are 5% mortgages likely to return in 2021? I saved up enough as covid hit, now being told to save double 

Honestly I wish I knew. At the moment lenders are struggling to get into 90% let alone 95. Shared ownership and help to buy are still available at that ltv but not sure when the open market will be able to return 

haras_n0sirrah

shondoc said:

haras_n0sirrah said:

shondoc said:

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. 

If it was settled 3 and a half years ago why are there missed payments from last year?
Is the property sold or are you still liable for this mortgage?

Sorry I should’ve been more clear, the last year of this mortgage had late payments it was settled in May 2017. I am no longer connected in any way. 

If there have been no missed payments in 3 years you should be ok

Carl2510

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)

My first purchase 3 & half years ago I went with the in house estate agent broker. Who did charge a fee. I do regret that and defiantly learnt from that mistake. He tied me down to a 4 year life insurance where I had to pay a fee to get out if I wanted to change. Luckily they made a mistake on there end and didn’t end up paying the fee.

when I went to remortgage I went with a independent broker. Who didn’t charge a fee. And he was fantastic, I don’t know if it helps but we both had the same interests when we first met ie we both played golf etc, he was very responsive via texts, emails and phone calls if needed. I have reused him again to buy my next house which just went so smoothly, literally ask for my documents I sent them and then few weeks later I’ve got a mortgage and that was after first lockdown. 

I will be using him for every remortgage from here on out. Just makes everything very easy.

2006eyo

Hello me and partner  will have between £25-29k saved up by next June with next years (isa) top up and looking at getting a house for 180-200,000.  I have 1 default 24 months left   and 1 ccj that is due to drop off in 6 months   My partner has good credit   We both In FT employment. Just worried with Covid and the decrease in mortgages available  You think I will have any chance at all of getting a mortgage in 2021 once ccj gone 

haras_n0sirrah

If the default is over 3 years old and satisfied and you have a 15% deposit you should be fine

hayley2411

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)

As a first time buyer....I opted for a mortgage broker did all my research, checked reviews spoke to the broker. Decided that was it broker was the best choice 😊
Now I totally regret that decision, I've learnt more from this forum researched everything myself. And my broker has been useless in all fairness, made 3 errors in the application process, never gave me any update unless I contacted the broker myself n it was oh yea heard from them the other day. I know it's crazy times, personally I think the broker took on too much seeing the pound signs. Reading on here the questions they should have asked what they should have checked, I had none of that. 
Whether it's a bad experience I've had with the broker I chose I dont know but it has put me off using one again xx

haras_n0sirrah

hayley2411 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)

As a first time buyer....I opted for a mortgage broker did all my research, checked reviews spoke to the broker. Decided that was it broker was the best choice 😊
Now I totally regret that decision, I've learnt more from this forum researched everything myself. And my broker has been useless in all fairness, made 3 errors in the application process, never gave me any update unless I contacted the broker myself n it was oh yea heard from them the other day. I know it's crazy times, personally I think the broker took on too much seeing the pound signs. Reading on here the questions they should have asked what they should have checked, I had none of that. 
Whether it's a bad experience I've had with the broker I chose I dont know but it has put me off using one again xx

I'm really sorry to hear that, a broker should be an asset and not a hindrance and the right one should take the stress away by knowing which lender to use and sorting everything out . While the lenders are delayed (and there is not a lot we can do about that) the broker should be setting your expectations and answer your emails and phone calls. I am telling my clients- we wont hear until x date (so I have three cases to write today, two with a lender we wont hear anything from until the 3rd dec and one will be 26th/27th nov)
There are tens of thousands of brokers across the uk - don't write us all off