Mortgage broker - ask me anything

IAMIAM

What does this mean with Nationwide? Age 70 or 75 or 68?

Please note, it's not possible to apply online for a mortgage if:

• your mortgage term will take you into, or beyond, normal retirement age

K_S

IAMIAM said:

What does this mean with Nationwide? Age 70 or 75 or 68?

Please note, it's not possible to apply online for a mortgage if:

• your mortgage term will take you into, or beyond, normal retirement age

@IAMIAM Afaik, that's 70.

muddabir

K_S said:

muddabir said:

e submitted our advance borrowing application on existing mortgage by HSBC on 24th Nov 2020 for our second home, on 19th January after valuation the application was approved but th funds aren’t released yet. It was a broker initiated application, so everytime I called HSBC regarding they don’t have any answer and they said they don’t have access to broker application and it’s a separate system and it can’t be seen by the team. Even calling the broker line they told that they will only speak to the broker only.  I also went to the branch there are unable to help ? My broker say he has done everything now it is down to HSBC and they are doing background check before they transfer the advance borrowing funds . Experience with this broker is also painful as he is not helping much interms of follow up ,So what should I do in this case? My moving date is next week and still funds aren’t released yet

@muddabir If I understand it correctly, you are moving home and have applied to port your HSBC mortgage with additional borrowing for the new purchase. It isn't clear in your post, has a mortgage offer been issued or not? Usually, funds will only be released a day or two prior to completion.

Hi , I am buying a second home and using advance borrowing funds for deposit. I have an approval of advance borrowing but the funds are taking time to arrive. For the second home i am taking mortgage with another lender.

hopeitwill

Thanks both, well the offer says upon application but I haven't found when we should pay anywhere else, not on the fee document either and we were not given a bill upon application so we'll probably just contact the broker then.

CBat

Husband and I are hoping to buy a house in the next 3 to 6 months. 
Credit history shows a history of high utilisation on some credit cards and some high interest loans (one approx 50%) all of which were paid off 3 months ago. More than min payment made every month, but not paid in full. 
Will this make getting a mortgage difficult or impossible? 
Appreciate its meaningless but we have good score, just concerned about history. 

K_S

CBat said:

Husband and I are hoping to buy a house in the next 3 to 6 months. 
Credit history shows a history of high utilisation on some credit cards and some high interest loans (one approx 50%) all of which were paid off 3 months ago. More than min payment made every month, but not paid in full. 
Will this make getting a mortgage difficult or impossible? 
Appreciate its meaningless but we have good score, just concerned about history. 

@cbat The "high interest loans", are any of them payday loans or similar? 

CBat

Hi K_S
No payday loans, one was likely loans and one was lendable. 

K_S

@cbat In that case I don't really see anything in your post that would by itself cause difficulties in getting a mortgage.

poppyegg22

Hi,
am I better using a mortgage advisor/broker or going direct to the bank myself? What are the pros and cons? 

dil1976

I am well on my way to saving my deposit and should be have it all saved by about May or June all being well. How soon should I start talking to a broker so i can find out in depth how much I can borrow etc before putting offers in