Mortgage broker - ask me anything

xfaze

should i receive a confirmation email when a mortgage advisor applied for it?
even if he applied with a different bank than i am with.

K_S

xfaze said:

should i receive a confirmation email when a mortgage advisor applied for it?
even if he applied with a different bank than i am with.

@xfaze Depends on the lender. A few lenders will send out automatic notification emails to clients at different stages for intermediary (broker) applications, most will not.

As good practice, most brokers will drop the client an email confirming that the application is in and what to expect next, rough timelines etc.

bubby08

Hi K_S

any thoughts, thank you much.

Vortex566

In your experience how many mortgage offers have you known to be withdrawn after exchange?

csgohan4

Vortex566 said:

In your experience how many mortgage offers have you known to be withdrawn after exchange?

Why do you ask? are you considering new credit? undeclared credit history?

Vortex566

csgohan4 said:

Vortex566 said:

In your experience how many mortgage offers have you known to be withdrawn after exchange?

Why do you ask? are you considering new credit? undeclared credit history?

No, just curious. I’ve actually reduced the amount of credit I have since we got the offer. 

Ellalou

Retirement mortgages, do you know much about them? 

My mum and dad are 67/64 - both still working. My mum has just this mon the started drawing her state pension.
They have an interest only Halifax mortgage - £185k outstanding. 3 years left. They will not be able to pay the balance in those 3 years although are making payment where they can to it.
Their home is valued about £300k just now. 

Is a retirement mortgage an option for them? 

Both will have a state pension and my mum has a private pension.

any advice appreciated, thanks. 

Claire2346

Hello, need some help. 
My partner has a ccj on his report and it will be 3 year old in November. We have 30 percent deposit and we are looking to borrow 130000. 
His salary 24000 a year 
Mine is 10000 work part time.
Is it possible to have a mortgage? 

K_S

Ellalou said:

Retirement mortgages, do you know much about them? 

My mum and dad are 67/64 - both still working. My mum has just this mon the started drawing her state pension.
They have an interest only Halifax mortgage - £185k outstanding. 3 years left. They will not be able to pay the balance in those 3 years although are making payment where they can to it.
Their home is valued about £300k just now. 

Is a retirement mortgage an option for them? 

Both will have a state pension and my mum has a private pension.

any advice appreciated, thanks. 

@ellalou With a relatively low LTV, they *may* have later-life lending options open to them. What specifically is available and whether it suits them is a complex question to answer as it depends on the specifics of their finances and (perhaps as importantly) their preferences with regard to what happens when they pass way or move into care. I would recommend considering getting into touch with an adviser that specialises in later-life lending to get a realistic picture of their options.

K_S

Claire2346 said:

Hello, need some help. 
My partner has a ccj on his report and it will be 3 year old in November. We have 30 percent deposit and we are looking to borrow 130000. 
His salary 24000 a year 
Mine is 10000 work part time.
Is it possible to have a mortgage? 

@claire2346 Based on the limited info in your post, the positives are that it's one CCJ, 2+ years old, you have a 30% deposit and you are looking to borrow less than 4x income (assuming that your part-time income meets lender criteria).

Assuming that there aren't other relevant details in the background, you should have options to borrow what you need.