Mortgage broker - ask me anything

K_S

simseys said:

What I would like to know is this - are there any lenders out there which would provide me with a mortgage without linking me or taking into account my wife's situation as she is on the deeds to our current house but will not be on them on the new house?

@simseys Your wife will be associated to you on your credit files and her adverse history is likely to impact your mortgage chances as well.

simseys

K_S said:

simseys said:

What I would like to know is this - are there any lenders out there which would provide me with a mortgage without linking me or taking into account my wife's situation as she is on the deeds to our current house but will not be on them on the new house?

@simseys Your wife will be associated to you on your credit files and her adverse history is likely to impact your mortgage chances as well.

Thanks for the reply, so just to be clear then I'm better off preparing myself for the fact that I won't be accepted for a new mortgage?

K_S

simseys said:

K_S said:

simseys said:

What I would like to know is this - are there any lenders out there which would provide me with a mortgage without linking me or taking into account my wife's situation as she is on the deeds to our current house but will not be on them on the new house?

@simseys Your wife will be associated to you on your credit files and her adverse history is likely to impact your mortgage chances as well.

Thanks for the reply, so just to be clear then I'm better off preparing myself for the fact that I won't be accepted for a new mortgage?

@simseys I don't know anything about your particular circumstances besides the limited info in your post so unfortunately I can't really say for sure whether you will qualify for a mortgage or not, sorry about that.

simseys

K_S said:

simseys said:

K_S said:

simseys said:

What I would like to know is this - are there any lenders out there which would provide me with a mortgage without linking me or taking into account my wife's situation as she is on the deeds to our current house but will not be on them on the new house?

@simseys Your wife will be associated to you on your credit files and her adverse history is likely to impact your mortgage chances as well.

Thanks for the reply, so just to be clear then I'm better off preparing myself for the fact that I won't be accepted for a new mortgage?

@simseys I don't know anything about your particular circumstances besides the limited info in your post so unfortunately I can't really say for sure whether you will qualify for a mortgage or not, sorry about that.

ok thank you for the update and replies, its greatly appreciated.

lancunian

K_S said:

lancunian said:

Thanks to the mortgage advisers who answered my previous posts.
With regards to product transfers mentioned previously, do Skipton Building Society offer preferential rates to brokers or can anyone get their best rate from them?

lancunian I don't know what the direct PT rates are, but as an example the standard intermediary one for a 2 year 75% fix is 1.91% no-fee.
Tbh lenders offering different direct and intermediary PT rates is by far more the exception than the norm.

Thanks again.
The current fixed rate expires May/June 2021.
The LTV looks like it will be 80%

travelmonkey

Hello. Does it make any difference to my chances of securing a mortgage if I work for an overseas company? I am thinking of taking a remote role with a company based in Malta but I will still be living and working from Wales. Just wondering if this has any bearing on things and how many month's employment proof I would need to show? Thank you. 

K_S

travelmonkey said:

Hello. Does it make any difference to my chances of securing a mortgage if I work for an overseas company? I am thinking of taking a remote role with a company based in Malta but I will still be living and working from Wales. Just wondering if this has any bearing on things and how many month's employment proof I would need to show? Thank you. 

@travelmonkey If your Malta based employer pays your salary in EUR or USD, that will significantly reduce the pool of lenders available to you. The form of employment may also have an impact - FTC, permenant contract, etc.

Assuming you have been continously employed in a similar role prior to the Malta one, length of employment is less of issue as long as you're not looking to buy soon as you join. Hope that helps.

travelmonkey

@K_S That's a great help, thank you. I never considered the currency aspect so I'll see what's possible. Right now I am contracted and freelancing in a mix via my own business just to confuse matters further! 

longtimelurker2020

K_S said:

simseys said:

What I would like to know is this - are there any lenders out there which would provide me with a mortgage without linking me or taking into account my wife's situation as she is on the deeds to our current house but will not be on them on the new house?

@simseys Your wife will be associated to you on your credit files and her adverse history is likely to impact your mortgage chances as well.

Hope the original poster doesn’t mind me piggy backing - adverse history aside, can any of the brokers comment on whether there’s such a thing as sole borrower, joint proprietorship? I believe the reverse exists but what about the scenario the OP described, where both own the property but only one is liable for the mortgage? If it does exist, are there any potential problems securing such a mortgage? Thanks 

K_S

longtimelurker2020 said:

K_S said:

simseys said:

What I would like to know is this - are there any lenders out there which would provide me with a mortgage without linking me or taking into account my wife's situation as she is on the deeds to our current house but will not be on them on the new house?

@simseys Your wife will be associated to you on your credit files and her adverse history is likely to impact your mortgage chances as well.

Hope the original poster doesn’t mind me piggy backing - adverse history aside, can any of the brokers comment on whether there’s such a thing as sole borrower, joint proprietorship? I believe the reverse exists but what about the scenario the OP described, where both own the property but only one is liable for the mortgage? If it does exist, are there any potential problems securing such a mortgage? Thanks 

HSBC used to be the only lender who allowed that sort of arrangement. I'm not sure if they still do.

Edit: Doesn't look like they do anymore. Criteria says that the borrowing must be in the same name/s as the ownership.