Mortgage broker - ask me anything

lonibra

Lou76 said:

Does anyone have, and be willing to PM, Sarah's details to me?

Many thanks 

Lou

PM'd you 

Lou76

lonibra said:

Lou76 said:

Does anyone have, and be willing to PM, Sarah's details to me?

Many thanks 

Lou

PM'd you 

Thank you so much.

I've spoken to her, and not only does she understand my Glaswegian accent lol, but it seems she also covers the Scottish market as well. 

She has put my mind at rest, regarding all the niggles I had, and hopefully be strong enough to cope with me through this process.

I'll update accordingly. 🙂

philng

My daughter & partner have had to include me on their upcoming mortgage which has restricted term of mortgage to my 75th birthday (18 years).

In 2 years time when they have 3 years self employed accounts they should be able to take me off the mortgage & then extend term of mortgage accordingly.

Question is do they take out life insurance now over 18 years OR from outset take out life insurance over their proposed term in 2 years time say 25 years?

They currently have no dependents.

BlondBoy

Does anyone have a sense on how Platform are with historic defaults on Co-Op accounts?

My broker has put in an application, but the penny has just dropped that I defaulted on 2 accounts with them around 12 years ago. Went to debt collection, sadly as things were tough at the time. Paid off around 10 years ago.

Spotless record for the past 6 years, no late payments or defaults. But now just wondering if the older ones may be problematic, given it's the same lender.

Thanks in advance!

K_S

philng said:

My daughter & partner have had to include me on their upcoming mortgage which has restricted term of mortgage to my 75th birthday (18 years).

In 2 years time when they have 3 years self employed accounts they should be able to take me off the mortgage & then extend term of mortgage accordingly.

Question is do they take out life insurance now over 18 years OR from outset take out life insurance over their proposed term in 2 years time say 25 years?

They currently have no dependents.

@philng Depends on their preferences and whether the purpose of the cover is purely to track the mortgage or more general.

Generally speaking, the monthly premium will go up with the term of cover. They could always take out additional cover at a later point, say when they move home and take on a bigger mortgage for example.

K_S

BlondBoy said:

Does anyone have a sense on how Platform are with historic defaults on Co-Op accounts?

My broker has put in an application, but the penny has just dropped that I defaulted on 2 accounts with them around 12 years ago. Went to debt collection, sadly as things were tough at the time. Paid off around 10 years ago.

Spotless record for the past 6 years, no late payments or defaults. But now just wondering if the older ones may be problematic, given it's the same lender.

Thanks in advance!

@blondboy I've had NatWest decline applications for historic RBS group defaults (that the client didn't tell me about) but Halifax doesn't seem to mind old LBG defaults.

I've never had Platform decline a client for historic co-op defaults after having passed a DIP but then I've never had a client tell me about their 6+ year old co-op defaults.

BlondBoy

K_S said:

BlondBoy said:

Does anyone have a sense on how Platform are with historic defaults on Co-Op accounts?

My broker has put in an application, but the penny has just dropped that I defaulted on 2 accounts with them around 12 years ago. Went to debt collection, sadly as things were tough at the time. Paid off around 10 years ago.

Spotless record for the past 6 years, no late payments or defaults. But now just wondering if the older ones may be problematic, given it's the same lender.

Thanks in advance!

@blondboy I've had NatWest decline applications for historic RBS group defaults (that the client didn't tell me about) but Halifax doesn't seem to mind old LBG defaults.

I've never had Platform decline a client for historic co-op defaults after having passed a DIP but then I've never had a client tell me about their 6+ year old co-op defaults.

Thanks - appreciated. Wish I'd clearly made the connection in my head before the application - wouldn't have minded telling the broker. 

How quickly do Platform usually get to DIP, do you know? 

K_S

BlondBoy said:

K_S said:

BlondBoy said:

Does anyone have a sense on how Platform are with historic defaults on Co-Op accounts?

My broker has put in an application, but the penny has just dropped that I defaulted on 2 accounts with them around 12 years ago. Went to debt collection, sadly as things were tough at the time. Paid off around 10 years ago.

Spotless record for the past 6 years, no late payments or defaults. But now just wondering if the older ones may be problematic, given it's the same lender.

Thanks in advance!

@blondboy I've had NatWest decline applications for historic RBS group defaults (that the client didn't tell me about) but Halifax doesn't seem to mind old LBG defaults.

I've never had Platform decline a client for historic co-op defaults after having passed a DIP but then I've never had a client tell me about their 6+ year old co-op defaults.

Thanks - appreciated. Wish I'd clearly made the connection in my head before the application - wouldn't have minded telling the broker. 

How quickly do Platform usually get to DIP, do you know? 

@blondboy Sorry, I should have expanded the acronym. DIP/AIP is just decision/agreement in principle. If your broker has put in a full application, that means your case is already past the DIP stage.

BlondBoy

K_S said:

BlondBoy said:

K_S said:

BlondBoy said:

Does anyone have a sense on how Platform are with historic defaults on Co-Op accounts?

My broker has put in an application, but the penny has just dropped that I defaulted on 2 accounts with them around 12 years ago. Went to debt collection, sadly as things were tough at the time. Paid off around 10 years ago.

Spotless record for the past 6 years, no late payments or defaults. But now just wondering if the older ones may be problematic, given it's the same lender.

Thanks in advance!

@blondboy I've had NatWest decline applications for historic RBS group defaults (that the client didn't tell me about) but Halifax doesn't seem to mind old LBG defaults.

I've never had Platform decline a client for historic co-op defaults after having passed a DIP but then I've never had a client tell me about their 6+ year old co-op defaults.

Thanks - appreciated. Wish I'd clearly made the connection in my head before the application - wouldn't have minded telling the broker. 

How quickly do Platform usually get to DIP, do you know? 

@blondboy Sorry, I should have expanded the acronym. DIP/AIP is just decision/agreement in principle. If your broker has put in a full application, that means your case is already past the DIP stage.

Ah, got you. Well, that feels like good news, Well for now, at least…

Thanks once again.

Zizzi86

Sorry I haven't read through the whole thread so unsure if this is repeated but I have a few questions on let to buy

Will my basic employment income of £19k be an issue? I do get more in overtime but it's not guaranteed 

Also will the property value which I plan to let of £72k cause any problems?

Thanks in advance