Mortgage help for my mum

sunny-day_2

I’ve just followed the link and filled in some details with Trussle to request a possible remortgage from Lloyds to another lender with myself being added to the mortgage so they can take my income into consideration seeing as my mum is retired. They’re going to return to me within 5 hours to see what mortgage deals if any they can come back with which may be suitable. Hopefully there’ll be a way forward to finally be able to repay the outstanding £45k with myself taken into consideration. I’ll keep you posted…

sunny-day_2

Okay, so Trussle so far have been great! A specific case handler had requested my docs, ID checks, statements, credit reports, income and outgoings etc and recommended the best mortgage deal he thought was right for mum and me, I’ve accepted their recommendation and they are submitting the application to a specialist lender right for our personal circumstances. The next steps he said were that someone from the mortgage protection team are to contact me to propose their recommendation for life insurance needed. I have a feeling this may be pricey as my mum is retirement age so shall wait and see…I won’t complain though as if the situation is able to be resolved that’s al I can ask for and a load off our minds! Will keep you posted…

K_S

sunny-day_2 said:

Okay, so Trussle so far have been great! A specific case handler had requested my docs, ID checks, statements, credit reports, income and outgoings etc and recommended the best mortgage deal he thought was right for mum and me, I’ve accepted their recommendation and they are submitting the application to a specialist lender right for our personal circumstances. The next steps he said were that someone from the mortgage protection team are to contact me to propose their recommendation for life insurance needed. I have a feeling this may be pricey as my mum is retirement age so shall wait and see…I won’t complain though as if the situation is able to be resolved that’s al I can ask for and a load off our minds! Will keep you posted…

@sunny-day_2 Really glad to see that things look much more positive than your initial post  

With regard to protection - I'm sure you are aware, but just in case you are not, as far as the mortgage/lender is concerned there is no requirement to take out protection. Having said that, it may well be advisable so definitely worth speaking to the protection adviser and seeing what they recommend.

Good luck and hope you're shot of Lloyds soon!

sunny-day_2

Thank you and fingers crossed we are, with it being the bank holiday I haven’t heard from my case manager at Trussle who’s now dealing in terms of getting the new remortgage accepted however I imagine I’ll hear something this week fingers crossed. I’m terms of mortgage protection yes I did a little reading up and I believe it isn’t compulsory just advisable for certain situations which may arise. If anything happens to my mum then things wouldn’t be affected payment wise as I am paying the capitol predominately myself, if anything happens to me I work for a large insurance company now and as part of my benefits if anything we’re to happen to me my mum as beneficiary receives more than enough to cover the remortgage and some. So should be fine there. I did have a missed call Friday evening from the protection team and left a voicemail for a call back, the chap who left the message didn’t sound enthusiastic at all and gave me the impression he talks over people to give a hard sell. I did call back but the lines were too busy and it told me to call another time. I’ve since received an email from the protection team giving the hard sell. I really do hope the remortgage is accepted with this new lender and then we can breathe, pay back within the timescale and sooner and then LLoyds will be a bad memory and the only time I’ll mention them to anyone would be to warn people away from them. Shocking

sunny-day_2

Since sending Trussle all the statements and info I hadn’t heard anything until I messaged them last Thursday for any update. They emailed me requesting most of the statements and docs I’d already sent them! So I told them they already been sent?! They replied to say they had them however requested some more information on some transactions so still with the lender to make a decision. It’s been weeks and weeks. I’m sure they’ll still ask for even more when I do hear anything ever though they’ve had so much already 

K_S

sunny-day_2 said:

Since sending Trussle all the statements and info I hadn’t heard anything until I messaged them last Thursday for any update. They emailed me requesting most of the statements and docs I’d already sent them! So I told them they already been sent?! They replied to say they had them however requested some more information on some transactions so still with the lender to make a decision. It’s been weeks and weeks. I’m sure they’ll still ask for even more when I do hear anything ever though they’ve had so much already 

@sunny-day_2 Which lender is it? Quite a few large high-street lenders are quite slow at the moment to process applications and on top of that it looks like the lender raised one or more queries which weren't communicated to you in a timely manner.

Hope the offer comes through soon.

Keep_pedalling

sunny-day_2 said:

My mum is 68 and in good health yes. The property is worth £165k and normal construction good condition. She wants to stay living in the house as it’s home. I was thinking I should get independent financial advice as it doesn’t seem her current lender actually want to help. I’m happy to contribute towards paying off the mortgage but need time as I don’t have the funds outright. Time her lender isn’t giving. I’m happy to get a mortgage and pay hers off if it’s a possibility. I understand there’s be IHT etc so may need to speak to a solicitor? To address everything. I anticipate £45k won’t take too long to pay off, maybe 3-4 years for me

Your mother’s estate is way below IHT territory so you have nothing to worry about there.