Mortgage broker - ask me anything

becky8690

haras_n0sirrah said:

becky8690 said:

Were part way through a mortgage application and my husbands car dealership is offering him deals to upgrade his car, which we are tempted by as we have recently become new parents and his car is not the best room wise! We wouldn't want to pay more monthly but it would obviously start a new credit agreement. We understand we would need to wait until after completion to do something but would even waiting till then be a bad idea?

I would avoid making changes until after completion if you can 

Of course but once completed they can't withdraw or anything can they

somerlouise

I recently saw a thread here where someone completed and then bought a car. They had their offer  recinded. Maybe someone has the link to that thread?
Anyway, just to be safe I wouldn’t do anything until you get the keys. 

haras_n0sirrah

becky8690 said:

haras_n0sirrah said:

becky8690 said:

Were part way through a mortgage application and my husbands car dealership is offering him deals to upgrade his car, which we are tempted by as we have recently become new parents and his car is not the best room wise! We wouldn't want to pay more monthly but it would obviously start a new credit agreement. We understand we would need to wait until after completion to do something but would even waiting till then be a bad idea?

I would avoid making changes until after completion if you can 

Of course but once completed they can't withdraw or anything can they

Once you have moved into the property then no. Any time up to that point they can  re credit check you 

LaurenM1234

I am looking for advice regarding help to buy ISA. I currently live in Northern Ireland and opened help to buy ISA with a UK bank. Am I restricted to applying for a mortgage within the UK or is this transferable to Ireland? 

amandacat

Hi, me and hubby will be applying for an AIP to port our mortgage with Santander. As we are relocating my husband will have to leave his job so will be unemployed initially. I will be able to retain my job as I work from home. My question is, when I do the AIP application, should I put in that his income is zero or should I put in his current income but then add in the application that he will need to leave his job when we move? It will also affect other costs we have to declare eg currently he has travel to work costs but he won’t when we move. Just wondering how to approach this on the application?
Thank you 

haras_n0sirrah

If he wont be working then put him down as not working. Is it affordable on one income? 

DG88

My wife and I have sold our flat. We now have found a house we want to buy but we are 30k short. We have 50% deposit of £165k - will a lender agree to lend the extra or is 4.5x income the max? My wife doesn't work, but is willing to get a part time job to help - will this be accounted for in application if less than 3 months into job? Thanks!

sunshineandlollipops

My husband left three weeks ago. Our mortgage is up for renewal in January. We have a toddler and I am due our second baby in 6 weeks. He has said he is happy for me to stay in the house with our children until they are 18.
He thinks we are better off not telling the mortgage company he has moved out and moving to a tracker mortgage.
 I thought we needed to tell the mortgage company and that a fixed rate mortgage would be better as we would both know what we need to pay each month. I would really appreciate any advice as I don't want to leave it til January to sort when I will be sleep deprived with a 6 week old baby. 
Thank you 

haras_n0sirrah

DG88 said:

My wife and I have sold our flat. We now have found a house we want to buy but we are 30k short. We have 50% deposit of £165k - will a lender agree to lend the extra or is 4.5x income the max? My wife doesn't work, but is willing to get a part time job to help - will this be accounted for in application if less than 3 months into job? Thanks!

There are some lenders who lend above 4.5x income

haras_n0sirrah

sunshineandlollipops said:

My husband left three weeks ago. Our mortgage is up for renewal in January. We have a toddler and I am due our second baby in 6 weeks. He has said he is happy for me to stay in the house with our children until they are 18.
He thinks we are better off not telling the mortgage company he has moved out and moving to a tracker mortgage.
 I thought we needed to tell the mortgage company and that a fixed rate mortgage would be better as we would both know what we need to pay each month. I would really appreciate any advice as I don't want to leave it til January to sort when I will be sleep deprived with a 6 week old baby. 
Thank you 

If you product transfer with your existing mortgage there is no underwriting so that may be the best solution for you. How long is he willing to stay on the mortgage for?