Mortgage broker - ask me anything

getmore4less

big_saver_5 said:

Mse don't allow brokers to advertise. Maybe they felt she was advertising with this thread? Regardless she was a godsend for me and from what I have seen quite a few others who have posted to thank her previously.
I am going to go back to lurking but I just wanted to thank her for what she did for me as I thought my case was hopeless but she pulled it out of the bag.

Posts like this one were very regular(before this thread), surprised they lasted so long before getting banned.
https://forums.moneysavingexpert.com/discussion/comment/77786406#Comment_77786406

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). 

Blatant Soliciting for business.

mowgliisaG

@brokers do lenders work over xmas period?? I assume the timelines will be slowed further due to xmas holidays!!

K_S

mowgliisaG said:

@brokers do lenders work over xmas period?? I assume the timelines will be slowed further due to xmas holidays!!

They do work over xmas (as in they don't take a continous 1 or 2 week break) but there will be more people off and yes generally speaking processing speeds will go down. For straightforward apps with highly automated lenders like Halifax, that may not be very noticeable but things like self-employed apps, those referred to manual review/underwriting etc will take longer.

Carl2510

getmore4less said:

big_saver_5 said:

Mse don't allow brokers to advertise. Maybe they felt she was advertising with this thread? Regardless she was a godsend for me and from what I have seen quite a few others who have posted to thank her previously.
I am going to go back to lurking but I just wanted to thank her for what she did for me as I thought my case was hopeless but she pulled it out of the bag.

Posts like this one were very regular(before this thread), surprised they lasted so long before getting banned.
https://forums.moneysavingexpert.com/discussion/comment/77786406#Comment_77786406

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). 

Blatant Soliciting for business.

I see where your coming from, I can see how it looks she was probably gaining clients from her replies. Shame though she was being very helpful, just as is K_S

fizzgog

Might be a stupid question, but, Ive been offered a new job (with an increase of salary of £9,250 per year). Only trouble is MB has just submitted an application to Clydesdale Bank ( I was declined by Halifax going direct) 
I am going to take the offer of employment but they're asking me for a start date. I explained to them 3 weeks ago timing isn't great at the moment due to this and was hoping for completion of my sale at the end of January. I didn't want to go from safe employment I've been in for 2+ years to a new employer.
What would you advise under this situation? If I get declined again, I'll just start asap as I'll rent somewhere but at the moment i don't know what to do for the best.
My affordability just scraped through on my current salary so new one would look better if they query any employment/affordability questions. I'm also going to be be saving £250 per month on GR/Management fees etc after i complete on the sale of my apartment.

K_S

@fizzgog
As long as the new job is on a permenant contract, there's no/little gap in employment, and it's in a similar line to your current one, Clydesdale should be fine with the change.
I must add here that this is in normal times, I don't know if there's been any temporary changes due to Covid, I'd have to check with them to be sure.

fizzgog

K_S said:

@fizzgog
As long as the new job is on a permenant contract, there's no/little gap in employment, and it's in a similar line to your current one, Clydesdale should be fine with the change.
I must add here that this is in normal times, I don't know if there's been any temporary changes due to Covid, I'd have to check with them to be sure.

Thanks for your reply. I'm thinking of asking for a confirmation letter to give to the MB to confirm salary & Permanent Employment. It will be a case of finishing my current employment on the friday, and starting new employment on the monday. Had an email today hey are wanting to plan my workload for possible January start.

IAMIAM

Can you apply for a new customer nationwide tracker mortgage without fee and then switch to an existing customer fixed two year deal with them in a relatively short period of time? Ive noticed their existing customer mortgage deals are much better than new customer deals....

K_S

IAMIAM said:

Can you apply for a new customer nationwide tracker mortgage without fee and then switch to an existing customer fixed two year deal with them in a relatively short period of time? Ive noticed their existing customer mortgage deals are much better than new customer deals....

@IAMIAM If it's the one with no-ERC then yes you can switch your mortgage penalty free at any point. There is no minimum period mentioned in the intermediary product switch conditions but I don't know if it's any different direct.

K_S

fizzgog said:

K_S said:

@fizzgog
As long as the new job is on a permenant contract, there's no/little gap in employment, and it's in a similar line to your current one, Clydesdale should be fine with the change.
I must add here that this is in normal times, I don't know if there's been any temporary changes due to Covid, I'd have to check with them to be sure.

Thanks for your reply. I'm thinking of asking for a confirmation letter to give to the MB to confirm salary & Permanent Employment. It will be a case of finishing my current employment on the friday, and starting new employment on the monday. Had an email today hey are wanting to plan my workload for possible January start.

@fizzgog A copy of the new contract and HR contact details should suffice imho.