Mortgage broker - ask me anything

[Deleted User]

haras_n0sirrah said:

dahj said:

haras_n0sirrah said:

dahj said:

Hi, had great AIP from HSBC 5yr fix 1.99% but their current offerings are poor now I'm proceeding to full application.

AIB NI, Platform, Accord and TSB are coming top now - all are in the same ballpark so are any much better than others or ones to definitely avoid? 

Hi - what is your loan to value and are you going through a broker?
AIB is a northern ireland lender so are you in Northern Ireland?

Considering 80% LTV now (my HSBC one was 85%) 
I had approached a broker but he advised me to go direct as he didn't offer HSBC and his next best was far off.

I'm in the mainland/GB but AIB said they cover England, Scotland and Wales along with NI.

I am getting the below for AIB
Products are available through the intermediary channel in Northern Ireland ONLY

Only available for properties in Northern Ireland.

It may be that direct they can lend in other areas or that they have non northern Ireland products - I have never used them
I would speak to a broker to ensure you fit criteria with the lenders. It isn't just a case of choosing the cheapest but also ensuring they will lend in your circumstances. If you don't have a broker some of us who post here are brokers and we are identifiable by our signatures. We who post here cannot approach posters but most of us are happy to answer pm's asking for help
In terms of service standards I got a first update for a platform case today - I submitted it on 24th august so 23 working days. There are lenders in a similar ballpark rate wise who are more like 5 or 6 working days.

AIB / First Trust said they can lend in the rest of the UK  they pointed me here  but awaiting for a follow-up call back. I have used their ATMs in handful of times when visiting ROI and NI but otherwise no detailed experience of their service.

Sounds like Platform should be low on my list if they are taking a full month to process. 

Wales2020

Hello

Application with Nationwide, hard check completed valuation completed and feedback given on valuation (down valued) option to proceed at lower value on basis of surveyors valuation... price renegotiated with seller and proceed with lower mortgage amount submitted....

any idea if this is a good sign they will offer or just standard and we still have checks to go through?? :-( 

Thanks for your help

irtgreg

Looking at building and contents insurance, as I am due to exchange in coming weeks. What is your advice? Can mortgage broker get a better deal, or is it the same going through comparison sites? Do mortgage broker charge a fee for arranging this?

haras_n0sirrah

irtgreg said:

Looking at building and contents insurance, as I am due to exchange in coming weeks. What is your advice? Can mortgage broker get a better deal, or is it the same going through comparison sites? Do mortgage broker charge a fee for arranging this?

I cant speak for all brokers but we dont charge for insurance. Sometimes the comparison sites are cheaper but that is because insurers have specially paired down policies for 'the meerkat website' to appear at the top of the cheap tree. Things like - you have to have certain types of locks is a common one. We only recommend 5 star policies because it is on our heads if they don't pay out. So get a quote from a broker and if buying online without advice read the small print 

haras_n0sirrah

Wales2020 said:

Hello

Application with Nationwide, hard check completed valuation completed and feedback given on valuation (down valued) option to proceed at lower value on basis of surveyors valuation... price renegotiated with seller and proceed with lower mortgage amount submitted....

any idea if this is a good sign they will offer or just standard and we still have checks to go through?? :-( 

Thanks for your help

Looking at when your application went in your documents should have been looked at (they were on 10/09 yesterday) if you haven't had any requests for more documents you should be on the home stretch 

haras_n0sirrah

dahj said:¹

haras_n0sirrah said:

dahj said:

haras_n0sirrah said:

dahj said:

Hi, had great AIP from HSBC 5yr fix 1.99% but their current offerings are poor now I'm proceeding to full application.

AIB NI, Platform, Accord and TSB are coming top now - all are in the same ballpark so are any much better than others or ones to definitely avoid? 

Hi - what is your loan to value and are you going through a broker?
AIB is a northern ireland lender so are you in Northern Ireland?

Considering 80% LTV now (my HSBC one was 85%) 
I had approached a broker but he advised me to go direct as he didn't offer HSBC and his next best was far off.

I'm in the mainland/GB but AIB said they cover England, Scotland and Wales along with NI.

I am getting the below for AIB
Products are available through the intermediary channel in Northern Ireland ONLY

Only available for properties in Northern Ireland.

It may be that direct they can lend in other areas or that they have non northern Ireland products - I have never used them
I would speak to a broker to ensure you fit criteria with the lenders. It isn't just a case of choosing the cheapest but also ensuring they will lend in your circumstances. If you don't have a broker some of us who post here are brokers and we are identifiable by our signatures. We who post here cannot approach posters but most of us are happy to answer pm's asking for help
In terms of service standards I got a first update for a platform case today - I submitted it on 24th august so 23 working days. There are lenders in a similar ballpark rate wise who are more like 5 or 6 working days.

AIB / First Trust said they can lend in the rest of the UK  they pointed me here  but awaiting for a follow-up call back. I have used their ATMs in handful of times when visiting ROI and NI but otherwise no detailed experience of their service.

Sounds like Platform should be low on my list if they are taking a full month to process. 

Interesting. Will give them a call and see what the situation is. Maybe it is the intermediary who has to be in northern Ireland if going via a broker? 

bismuth11

Now that savings interest rates have falling will lending rates also fall.  I need to re-mortgage should I wait?

haras_n0sirrah

bismuth11 said:

Now that savings interest rates have falling will lending rates also fall.  I need to re-mortgage should I wait?

lending rates are going up daily especially at over 75% ltv - don't wait

Dinpraad

haras_n0sirrah said:

Dinpraad said:

My full application for Natwest went in on the 14th September 2020. Natwest requested some clarifications below which have all be fulfilled.
When will Natwest make an offer? Will it before Valuation or after?

We need to clarify your clients solicitors details. 17/09/2020
Assessment await task	A valuation has been instructed and we are now awaiting your client's survey report.	17/09/2020 16:00
Assessment inprogress task	We are reviewing the original payslips that you submitted on behalf of your client and will contact you if we need any further information. For current processing timescales refer to http://intermediary.natwest.com	18/09/2020 17:23
Assessment inprogress task	We have received your client's employment contract / reference. We're reviewing this and will contact you if we need any further information. For current processing timescales refer to http://intermediary.natwest.com	18/09/2020 17:23
Assessment inprogress task	We are reviewing the original payslips that you submitted on behalf of your client and will contact you if we need any further information. For current processing timescales refer to http://intermediary.natwest.com	18/09/2020 17:23

You wont get an offer until after the valuation is done

Valuation has be done this morning by Connells so i guess its waiting?? maybe another few more days

BillStruthBear

haras_n0sirrah said:

BillStruthBear said:

Hi
What are your views on applying for a phone contract prior to completion? Smashed my phone screen, not economical to repair. Would rather not shell out £6-700 for a sim-free only but not completing until January according to housebuilder. 
Mortgage offer is with Nationwide 
Thoughts welcome! 

If you can avoid it I would - has anyone got an old phone lying around you can use in the interim?

Thanks. Avoiding it then! I do have an old phone lying around I can use for 3 months or so, will just use that.