Mortgage broker - ask me anything

haras_n0sirrah

idkwhattosay said:

I've been following this thread from the beginning and read all 44 pages and I just want to say wow, if some of you are able to get a mortgage then I should be flying through the application (no offence) . I wanted to save the praise for my own thread after completion, but I can just say it right now to those who are not sure about having a mortgage broker. Please do yourself a favour, it will save you so much headache! I can't recommend Sarahharas_n0sirrah) enough! Honestly I still don't understand what's going on, it's been the busiest two weeks of my life (from talking to Sarah to getting mortgage agreed). So many millions of papers! If I didn't have her I don't know how all this would have played out and how long it would take, we went 0-60 in literally two weeks! She's super speedy, she manages to be active on the forums and answer my emails within minutes .

Just thinking of going through all that by myself is giving me a rash, I don't know how some people do it. I mean for £399 you can save yourself any potential problems of not doing things right or worrying about updates and how the process goes, if you did things right etc. Especially people who don't have a clean credit rating. I like to think I'm doing well on that and still wouldn't go through the application myself. There are just caveats that you're not aware of, which are being revealed to you by a broker and you both avoid problems and handle things in a way you haven't thought of before.

I already recommended Sarah to two of my friends who will be looking to buy soon(ish) and I'm happy to come back when my remortgage is due! I only do reviews if I'm super p-d off or super happy.

idkwhattosay. My pleasure

anthonyha

Hi, after some advice. Am about 10 weeks into an application with a Barclays Springboard Mortgage. My broker, who I suspect has never done one of these before hasn't been brilliant and it keeps getting held up for weeks at a time.  He complains that because he doesn't have a BDM it takes an hour on the phone to them each time.
Would getting a broker who is on the Barclays panel have made a big difference and would it make sense to switch now so late in proceedings?
We have already seen a big LTI change during application and I'm getting worried they will pull the product altogether.

haras_n0sirrah

anthonyha said:

Hi, after some advice. Am about 10 weeks into an application with a Barclays Springboard Mortgage. My broker, who I suspect has never done one of these before hasn't been brilliant and it keeps getting held up for weeks at a time.  He complains that because he doesn't have a BDM it takes an hour on the phone to them each time.
Would getting a broker who is on the Barclays panel have made a big difference and would it make sense to switch now so late in proceedings?
We have already seen a big LTI change during application and I'm getting worried they will pull the product altogether.

I'm surprised brokers dont have Barclays Bdm's. Do you know what the problem is? 10 weeks is ridiculous. Do you hear any updates at all or are they asking for more documents each time? Regardless of how long it takes the broker on hold they need to call barclays to get updates - that is basically our job description. We have a member of staff who literally spends all day holding to lenders for updates - it is what it is currently and an hour wait for a lender is not unusual 

Carl2510

Did not know that was your name backwards!  😂

haras_n0sirrah

Carl2510 said:

Did not know that was your name backwards!  😂

Have had it commented that people assume I am an older middle eastern gentleman by my user name. Think people are a bit surprised when I answer the phone lol
Maiden name spelt backwards 

lysa847

I had a remortgage to a different lender offered in july can’t complete until October 31st as fixed rate ends then
will they do checks again before completing nothing has changed but husband is a sub contractor Self employed and with current climate what’s the chances of them pulling out

Also I have a small sub account on current mortgage that the fixed rate doesn’t end until 2023 the rest ends October I assume early repayment charge can only be put on this one sub account
thanks  for your help  

anthonyha

haras_n0sirrah said:

anthonyha said:

Hi, after some advice. Am about 10 weeks into an application with a Barclays Springboard Mortgage. My broker, who I suspect has never done one of these before hasn't been brilliant and it keeps getting held up for weeks at a time.  He complains that because he doesn't have a BDM it takes an hour on the phone to them each time.
Would getting a broker who is on the Barclays panel have made a big difference and would it make sense to switch now so late in proceedings?
We have already seen a big LTI change during application and I'm getting worried they will pull the product altogether.

I'm surprised brokers dont have Barclays Bdm's. Do you know what the problem is? 10 weeks is ridiculous. Do you hear any updates at all or are they asking for more documents each time? Regardless of how long it takes the broker on hold they need to call barclays to get updates - that is basically our job description. We have a member of staff who literally spends all day holding to lenders for updates - it is what it is currently and an hour wait for a lender is not unusual 

As a FTB I really don't know if I'm getting a good service from my MB bearing in mind the current situation.
All Doc's are in and survey done, although we did submit some more documents to meet affordability when they changed from 5.5x to 4.5x.
The sticking point seems to be setting up the helpful start account for my helper to deposit into. My helper has taken the form in but my MB and the local branch seem to differ in their opinion as to who does what at this stage. I don't think they will make an offer until the account is set up.
I think I will call Barclays myself tomorrow to find out definitively who needs to do you what. Very frustrating!

haras_n0sirrah

lysa847 said:

I had a remortgage to a different lender offered in july can’t complete until October 31st as fixed rate ends then
will they do checks again before completing nothing has changed but husband is a sub contractor Self employed and with current climate what’s the chances of them pulling out

Also I have a small sub account on current mortgage that the fixed rate doesn’t end until 2023 the rest ends October I assume early repayment charge can only be put on this one sub account
thanks  for your help  

Lenders do reserve the right to recheck but it would be more common on a purchase than a remortgage
Yes you should only pay the erc on the sub account.

haras_n0sirrah

anthonyha said:

haras_n0sirrah said:

anthonyha said:

Hi, after some advice. Am about 10 weeks into an application with a Barclays Springboard Mortgage. My broker, who I suspect has never done one of these before hasn't been brilliant and it keeps getting held up for weeks at a time.  He complains that because he doesn't have a BDM it takes an hour on the phone to them each time.
Would getting a broker who is on the Barclays panel have made a big difference and would it make sense to switch now so late in proceedings?
We have already seen a big LTI change during application and I'm getting worried they will pull the product altogether.

I'm surprised brokers dont have Barclays Bdm's. Do you know what the problem is? 10 weeks is ridiculous. Do you hear any updates at all or are they asking for more documents each time? Regardless of how long it takes the broker on hold they need to call barclays to get updates - that is basically our job description. We have a member of staff who literally spends all day holding to lenders for updates - it is what it is currently and an hour wait for a lender is not unusual 

As a FTB I really don't know if I'm getting a good service from my MB bearing in mind the current situation.
All Doc's are in and survey done, although we did submit some more documents to meet affordability when they changed from 5.5x to 4.5x.
The sticking point seems to be setting up the helpful start account for my helper to deposit into. My helper has taken the form in but my MB and the local branch seem to differ in their opinion as to who does what at this stage. I don't think they will make an offer until the account is set up.
I think I will call Barclays myself tomorrow to find out definitively who needs to do you what. Very frustrating!

Ask your broker to ask Barclays who is responsible for setting up the first start account - is it the local branch or the mortgage service centre (I haven't done a first start with barclays in a while so I cant remember off the top of my head)
Whoever needs to do it call them and ask them for a realistic timescale for it to be done.
I wouldn't change brokers and start again as it sounds like you are a long way down the process so better to stick with it 

anthonyha

haras_n0sirrah said:

anthonyha said:

haras_n0sirrah said:

anthonyha said:

Hi, after some advice. Am about 10 weeks into an application with a Barclays Springboard Mortgage. My broker, who I suspect has never done one of these before hasn't been brilliant and it keeps getting held up for weeks at a time.  He complains that because he doesn't have a BDM it takes an hour on the phone to them each time.
Would getting a broker who is on the Barclays panel have made a big difference and would it make sense to switch now so late in proceedings?
We have already seen a big LTI change during application and I'm getting worried they will pull the product altogether.

I'm surprised brokers dont have Barclays Bdm's. Do you know what the problem is? 10 weeks is ridiculous. Do you hear any updates at all or are they asking for more documents each time? Regardless of how long it takes the broker on hold they need to call barclays to get updates - that is basically our job description. We have a member of staff who literally spends all day holding to lenders for updates - it is what it is currently and an hour wait for a lender is not unusual 

As a FTB I really don't know if I'm getting a good service from my MB bearing in mind the current situation.
All Doc's are in and survey done, although we did submit some more documents to meet affordability when they changed from 5.5x to 4.5x.
The sticking point seems to be setting up the helpful start account for my helper to deposit into. My helper has taken the form in but my MB and the local branch seem to differ in their opinion as to who does what at this stage. I don't think they will make an offer until the account is set up.
I think I will call Barclays myself tomorrow to find out definitively who needs to do you what. Very frustrating!

Ask your broker to ask Barclays who is responsible for setting up the first start account - is it the local branch or the mortgage service centre (I haven't done a first start with barclays in a while so I cant remember off the top of my head)
Whoever needs to do it call them and ask them for a realistic timescale for it to be done.
I wouldn't change brokers and start again as it sounds like you are a long way down the process so better to stick with it 

Thanks. With hindsight I wish I had selected a broker with some drive and energy to get things moving