Mortgage broker - ask me anything

SweetPotatoPie

Hi, I have a question please.
I am looking at moving from permanence to agency work (there is a heck of a difference in salary) and I am worried that I will not be able to get a mortgage if I do this. Can people employed by agency, access mortgages? Would it need to be a long term temporary post? Or would I need to go back to being oermanent before applying? 

Thanks 

Harry1986

HI,
What happens if you get final offer from bank for mortgage and if you wanna pull out?
Are we allow to not to go ahead even though all checks and processes been completed.

K_S

@sweetpotatopie People employed on contracts through agencies can indeed get mortgages. It might be difficult right away but once you have a track record, with the right lender it's not a problem by itself.
SweetPotatoPie said:

Hi, I have a question please.
I am looking at moving from permanence to agency work (there is a heck of a difference in salary) and I am worried that I will not be able to get a mortgage if I do this. Can people employed by agency, access mortgages? Would it need to be a long term temporary post? Or would I need to go back to being oermanent before applying? 

Thanks 

K_S

Harry1986 said:

HI,
What happens if you get final offer from bank for mortgage and if you wanna pull out?
Are we allow to not to go ahead even though all checks and processes been completed.

@harry1986 Generally speaking, you can decide to not go ahead with that lender anytime until they release funds for completion.

TheFarouk

Hi there,

My wife and I are currently looking to apply for a mortgage. We have a healthy 45% LTV however we do have some defaults (currently still paying) from 4 years ago.

We currently have no credit or store cards, no overdrafts, no loans, no car finance and no missed payments for 2 years and 2 months. I was wondering if you could recommend a company that would be happy to potentially accept us with this history.

 

Thanks.

GrahamsHill

TheFarouk said:

Hi there,

My wife and I are currently looking to apply for a mortgage. We have a healthy 45% LTV however we do have some defaults (currently still paying) from 4 years ago.

We currently have no credit or store cards, no overdrafts, no loans, no car finance and no missed payments for 2 years and 2 months. I was wondering if you could recommend a company that would be happy to potentially accept us with this history.

 

Thanks.

How many defaults? What sort of values and how long have you got left to pay? Are they on a DMP? Is it both yourself and your wife that have individual or joint defaults? There are plenty of brokers on here who will know more than me but maybe adding some more detail about your situation would be beneficial. 

Mark_1986

www.telegraph.co.uk/money/consumer-affairs/return-bumper-sized-mortgages-banks-loosen-rules

"Aspiring homeowners can now borrow much more after banks raised the cap on mortgage sizes. Lenders have begun to relax affordability rules for borrowers after tightening them last year amid worries over the economy's health. 
High street banks including NatWest, Lloyds and HSBC will once again offer mortgages worth five times a borrower's yearly salary, while Santander and Barclays now lend up to 5.5 times an applicant's income."

Has anyone got any more info on this? I'm particularly interested in 5.5 times income mortgages. The article implies they will be available to couples with £60k joint income. No further info available (including exact LTV details).
Many thanks.

K_S

@mark_1986 Here are the LTI matrices for

Barclays

Santander

magicno1

Hi.
We had our offer in the post today from Platform very happy. Our daughter who is 16 at present and turns 17 in April. On the application we had to agree for her to sign a deeds of consent form because it said she was 17 on the application which is wrong.
we are now stressed right out worrying that the offer will be withdrawn because of the wrong date so our adviser is going to talk to our solicitor to see if this is going to throw a spanner in the works.
so has anybody got some advice or even knows what happens now please it’s getting unbearable and very close to exchange!

having just spoken to my broker back in November I said my stepdaughter was 17 in February so got that wrong but was never asked for a date of birth by anybody.
what a nightmare 😔
thank you.

Mark_1986

K_S said:

@mark_1986 Here are the LTI matrices for

Barclays 

Santander

Thank you.
If that's the case, the article is misleading or these mortgages are not yet available. Not too sure where the author is getting his info from.