Mortgage broker advice please? More complicated than you'd expect!

smpNWI

getmore4less said:

Apart from source of funds is there anything else that impacts placing you?
High LTV, stretched on income, high loan amount, very long term  etc?

if at least one broker has found <2% the LTV is probably reasonable

My LTV is low, anywhere from 30-45% depending on what I'll end up buying. 

Two main issues:
1) I'm looking for a BTL but I don't own property in the UK (and for most lenders, abroad doesn't count, although I know for a few it does)

2) I'm self employed and have received three SEISS grants. 

[Deleted User]

Use a broker you feel wants to put the effort in.

Btl when you live in a shared household would ring alarm bells to lots of brokers and lenders so you might find a lot of brokers are busy enough and dont want the hassle/risk of someone doing scheme abuse. 

If you've got a broker who is giving you the time and attention you want then use them. 
I did a non-owner occupier btl with the client living with his girlfriend at her parents...was harder to place than any self employed or adverse case ive had all year. Passed criteria with everyone but underwriter just didn't like it. Honestly if another came across my desk this week id probably pass on it. 

You cant go on rate a lot of the time as the lender may have told the broker they didnt like the sound of it and the broker has discounted them.

K_S

@smpnw1 This is one of those cases where you might tick all the boxes on the published criteria, but wouldn't pass underwriter review. Probably one of the reasons why so many brokers have gone awol on you after the first call.

In your place I would go with the EA broker whom you're confident in. At remortgage time, all this will be much much easier.

smpNWI

Thanks, @K_S and @Deleted_User
All things considered, do you think it might be worth trying to speak directly to the lender myself, in case I can at least get an AiP? According to the two brokers who tried this lender, their underwriters have said I'd qualify.

[Deleted User]

Not sure what benefit that would be apart from getting people to do lots of work and then not getting paid for it

smpNWI

Deleted_User said:

Not sure what benefit that would be apart from getting people to do lots of work and then not getting paid for it

Sorry, which people are those? I was suggesting I'd cut out the middleman and speak to the specific lender myself, just in case I can get an AiP. I'm not to blame for brokers who aren't replying to me, am I? Sorry, a little confused. 

getmore4less

smpNWI said:

getmore4less said:

Apart from source of funds is there anything else that impacts placing you?
High LTV, stretched on income, high loan amount, very long term  etc?

if at least one broker has found <2% the LTV is probably reasonable

My LTV is low, anywhere from 30-45% depending on what I'll end up buying. 

Two main issues:
1) I'm looking for a BTL but I don't own property in the UK (and for most lenders, abroad doesn't count, although I know for a few it does)

2) I'm self employed and have received three SEISS grants. 

Something you forgot to mention in the first post.

Why are you mucking about if you are getting rates under 2% that's where 60% LTV will be on BTL there are going to be fees higher for B2L than residential.