Mortgage broker - ask me anything

GreenCat80

Thanks so much for your help @K_S

Scorpio33

When re-mortgaging for a loft conversion, do the lenders take the current value of the home for the LTV or the value after the works have been finished for the LTV?

K_S

Scorpio33 said:

When re-mortgaging for a loft conversion, do the lenders take the current value of the home for the LTV or the value after the works have been finished for the LTV?

@scorpio33 Mainstream residential lenders will only take the current value into account.

Scorpio33

Thanks.

One other question. If you needed to re-mortgage, but are on a fixed term (and a very good one), would it be better to speak to the current lender or would other lenders lend you the extra as a second mortgage?

K_S

Scorpio33 said:

Thanks.

One other question. If you needed to re-mortgage, but are on a fixed term (and a very good one), would it be better to speak to the current lender or would other lenders lend you the extra as a second mortgage?

@scorpio33 If you want to stay on the current fixed term your options are -

1. further advance / additional borrowing from current lender

2. second-charge mortgage from a second-charge lender like Pepper, Precise, Selina, etc. Mainstream lenders do not do second charge mortgages.

To state the obvious, option 1 is likely to be the most cost effective.

iamneallyons

Is it impossible to get a mortgage with three three or four year old ccjs and a rubbish credit score?

I got car finance last year which iv paid on time and just got accepted on a credit card an aqua credit builder type.

Im self employed and earn around 35k a year.. Mrs is employed and earns around 13k

Is there any hope?

K_S

iamneallyons said:

Is it impossible to get a mortgage with three three or four year old ccjs and a rubbish credit score?

I got car finance last year which iv paid on time and just got accepted on a credit card an aqua credit builder type.

Im self employed and earn around 35k a year.. Mrs is employed and earns around 13k

Is there any hope?

@iamneallyond On its own, having 3 CCJs that were registered 3+ years ago should not stop you from getting a mortgage with a specialist lender.

Your options, what lenders/products etc will depend on the LTV, what's in your credit report and the specifics of your income.

ajtrout

I'm looking to move home this year and my current mortgage is with Nationwide (expires 31 March 2023). If I apply for a mortgage via a broker with Nationwide on my new home and complete circa Jan 23, will that avoid ERCs?

Deedee23

Hi,
Don't I submit my husband and I'm mortgage application with Halifax via a mortgage broker last week .Valuation was done this week and it came back as priced as offer we put it.
 The issue now is the banks have requested for my husband's bonus pay slip which we have submitted. They've also said they have found undisclosed debt during their hard search. I don't know of any other debts we have apart from our CC. I have downloaded our credit file and there's no additional debts on there. Am I missing something? My mortgage Brookerhas submitted the credit file and says its a waiting game another 2weeks. Is there anything on the credit file that we cost see but lenders do? How do I rectify this 

[Deleted User]

It depends what credit reference agency your lender uses and which one you are checking. There are 3 main ones . If you use check my file to see your reports it will show you information on all 3 agencies