We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage urgently needed
Comments
-
Try and avoid an IFA. Use mortgage brokers.
Thats a bit of a strange comment. Are you saying its best to use a limited range mortgage broker rather than an IFA that may spend 90% of their time doing mortgages? What about the majority of IFA firms that employ mortgage advisers?
I would take advice from a whole of market/independent mortgage adviser over an IFA myself. However, you shouldnt rule out that many IFAs employ dedicated mortgage advisers and most independent/whole of market mortgage brokers are attached to an IFA firm.
You certainly shouldnt see a limited range mortgage broker or tied agent with whole of market mortgages before an IFA.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Gloster_Advise wrote: »Whyzeman,
Who is your currrent provider? There is really not a lot of difference in % at the moment across the board.
The "best rate" is an open ended question. Some lenders offer 2 year fix where as some offer 20 year fixed rate. Some have no arrangemnt fees some are 2% if not more of what you borrow.
The LTV is in your favour and should you have no adverse credit or mortgage arrears then you "may" get a fast track application.
Try and avoid an IFA. Use mortgage brokers.
Regards
Si
Gloster
If you are an adviser please read the adviser code of conduct about signatures etcI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I dont think it is wise to list income over the forum but the house value would be between £430,000 - £450,000 and the mortgage would be £290,000, under 70%. All personal details I can give one to one to the lender.
At 70% LTV most lenders will agree the mortgage for you, assuming your income can supportthe mortgage amount needed!
The rate offered will also depend on what kind of credit history you have - the more adverse history you have the higher the rate you are likely to payI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Joint income £125,000, no mortgage payment default or adverse credit history, quite boring really. Need help with best ideas of current rates as I dont want to get stung at the end of the month when the rate increases to current mortgage rate and I'm paying another £500 per month - OUCH0
-
s I dont want to get stung at the end of the month when the rate increases to current mortgage rate and I'm paying another £500 per month - OUCH
Probably too late now to avoid that. What deals are available from your current lender? How do they stack up with whats available to your with your circumstances?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Current lender, Derbyshire wants 6.89% for 2 yd fixed but my bank, HSBC has offered 5.43% 2 yr discounted.0
-
2 year fixed may be better (although a longer fix may be better still). A 2 yr discount may be short term gain, long term pain as interest rates are almost certainly going to rise once the credit crunch has eased. Indeed, they would probably be about 2% higher now if it wasnt for the credit crunch.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
-
Dunstonh
Apologies. Adviser yes. Direct where to update the profile please.
RegardsI am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Take advice with a pinch of sea salt!0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards