Mortgage broker - ask me anything

K_S

@karlos88 You informed the broker and have had a positive DIP, so have done all the right things. It won't be particularly useful of me to comment on the scenario based on the very limited information in front of me. Good luck!

philng

Daughter and partner looking at a new build purchase been advised they have to see their mortgage adviser to get the ok even though they already have a mortgage offer for same amount and deposit on a different property that has just fallen through. Is this right?

K_S

philng said:

Daughter and partner looking at a new build purchase been advised they have to see their mortgage adviser to get the ok even though they already have a mortgage offer for same amount and deposit on a different property that has just fallen through. Is this right?

@philng New-build brokers are (often) sharks and will try every trick in the book to get you to use them. Hopefully showing them a copy of the offer you already have should do the trick.

sim2335

17 payday loans all paid of early.(5 with sunny so may be able to remove them)

Last one paid off June  2020

When we be a good chnace to get mortgage if my credit rating very good and just 2 loans total 4k.

So if I  get one this year I can put deposit beetween 5-10k

End of Next year deposit about 20k (and no loans on my file)

House price 100-170k

My salary 950 a month outgoings 300-400 (including debt repayments)a month

End of Next year salary will be 1500 a month outgoing 200-300

tracy_l

Hi, can I failed affordability for a remortgage a BLT? MB got a message pop up from accord mortgage, ‘loan amount query’, what does it mean? We haven’t had valuation yet, does it mean I didn’t pass the affordability? I’m so impatient, I was wondering if broker here know what does mean? Thank you!

K_S

tracy_l said:

Hi, can I failed affordability for a remortgage a BLT? MB got a message pop up from accord mortgage, ‘loan amount query’, what does it mean? We haven’t had valuation yet, does it mean I didn’t pass the affordability? I’m so impatient, I was wondering if broker here know what does mean? Thank you!

@tracy_l Is this a BTL remortgage? Like-for-like or any capital-raising involved? What is the query exactly, it can't just be 'loan amount query'.

tracy_l

K_S said:

tracy_l said:

Hi, can I failed affordability for a remortgage a BLT? MB got a message pop up from accord mortgage, ‘loan amount query’, what does it mean? We haven’t had valuation yet, does it mean I didn’t pass the affordability? I’m so impatient, I was wondering if broker here know what does mean? Thank you!

@tracy_l Is this a BTL remortgage? Like-for-like or any capital-raising involved? What is the query exactly, it can't just be 'loan amount query'.

I remortgage my current house to a BTL, I am currently with Halifax with 110k left, and Halifax has a desktop valuation 340k, I need capital raising 255k to payoff Halifax and left some for a new house deposit. What does loan amount query normally mean? Thank you 🙏 @K_S

K_S

@tracy_l Sorry, no idea. Accord wouldn't just say "loan amount query" as that could mean anything - query about the loan-size you've asked for, query about loans on your credit files, etc etc.

As an example, this is an example of how Accord would frame a query - "Level of background debt for Applicant 2 is very high - please explain how the debts were accrued"

Just ask your broker for more clarity.

tracy_l

We don’t have any loan so I guess we didn’t pass the affordability. broker will speak to us tomorrow. 🤞 
Thank you @K_S 

kingstreet

tracy_l said:

MB got a message pop up from accord mortgage, ‘loan amount query’, what does it mean?

Your broker told you this without first establishing the issue and how to resolve it? That's helpful...