Mortgage broker - ask me anything

raddy59

A while ago a friend managed to get a mortgage on a property to buy a house. She was funding it by letting rooms out to HB claimants and managed to get a "social" mortgage I think. I have a friend in an unusual situation where there he is one of 8 tenants all being asked to move out. they are seeking legal advice in order to remain, but I was wondering if there were any lenders who might be able to help them buy a property jointly? 

Stevo9090

Hi all,

Can anyone tell me if there's a lender who will lend 90-95% LTV with one small settled default from 3 years ago, no other adverse at all. The property value is also only 55k so seems to be below most lenders minimum valuation that I can find

I'm aware my broker will be able to identify these lenders but I'm waiting for my credit file to update, and I'm researching lenders who may be a possibility

Thanks

Kayleighwhiteley

Hi

Wonder if anyone knows if it's normal for a lender to ask for current landlords details? Our broker has put in an application for platform, and he asked for our landlords address and contact details. Its not an issue as we have never missed a payment or anything. Was just curious if it will help our application?

Thanks. 

K_S

Kayleighwhiteley said:

Hi

Wonder if anyone knows if it's normal for a lender to ask for current landlords details? Our broker has put in an application for platform, and he asked for our landlords address and contact details. Its not an issue as we have never missed a payment or anything. Was just curious if it will help our application?

Thanks. 

@kayleighwhiteley Depends on the lender. I can't recall if Platform does but some mainstream lenders do ask for details of the applicant's landlord in the application form. I doubt they do anything with those details as I've never had a lender tell me that they couldn't contact the landlord or anything to that effect. I wouldn't expect it to make much difference either way.

For FTB applications, specialist lenders do often get in touch with the landlord for confirmation of rental payments and sometimes ask for rent statements to be uploaded.

K_S

raddy59 said:

A while ago a friend managed to get a mortgage on a property to buy a house. She was funding it by letting rooms out to HB claimants and managed to get a "social" mortgage I think. I have a friend in an unusual situation where there he is one of 8 tenants all being asked to move out. they are seeking legal advice in order to remain, but I was wondering if there were any lenders who might be able to help them buy a property jointly? 

@raddy59 8 joint applicants? I don't know of any lenders that will accept a resi purchase app from that many people.

Savingupsally29

I want to use a loan to top up my deposit and cover some stamp duty . I’m comfortable Santander allow this and it fits within my affordability.

however who will give me a loan for that purpose. Every unsecured loan I find says explicitly cannot be used for this reason. Where do people loan the money from ?

Kayleighwhiteley

K_S said:

Kayleighwhiteley said:

Hi

Wonder if anyone knows if it's normal for a lender to ask for current landlords details? Our broker has put in an application for platform, and he asked for our landlords address and contact details. Its not an issue as we have never missed a payment or anything. Was just curious if it will help our application?

Thanks. 

@kayleighwhiteley Depends on the lender. I can't recall if Platform does but some mainstream lenders do ask for details of the applicant's landlord in the application form. I doubt they do anything with those details as I've never had a lender tell me that they couldn't contact the landlord or anything to that effect. I wouldn't expect it to make much difference either way.

For FTB applications, specialist lenders do often get in touch with the landlord for confirmation of rental payments and sometimes ask for rent statements to be uploaded.

Thank you. We are FTB so this is all new to us. 

4thLaw

Hi,

I have a mortgage offer and are waiting to complete in late august, having exchanged earlier this week. My mobile contract has come to an end and I am keen on taking on an offer from another network to take advantage of an expiring offer. 
Couple of questions then, (1) does HSBC do final credit checks before draw-down of funds? & (2) if they did, would a hard search and new mobile contract be an issue? Nothing else will have changed in my situation.

jamja

Hi there,
I have a decent fix on my mortgage (nationwide) for the next 4 years, but want to borrow more to fund an extension. I have used mortgage advisors to arrange my mortgages with both my previous house moves, and a couple of remortgages, but I am wondering if I should use one when applying to borrow more from the nationwide or if I should just approach them directly? Thanks.

purplelila-2007

Our buyers lender have now requested further information from them. They now want to see a recent credit card statement for a credit card which apparently hasn't been used in a while. 

If it hasn't been used surely that would show on the credit file?
Does it sound like they will be rejected a mortgage?