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  • FIRST POST
    • scoops82
    • By scoops82 10th Jan 18, 12:12 PM
    • 237Posts
    • 22Thanks
    scoops82
    Mortgage with dependants
    • #1
    • 10th Jan 18, 12:12 PM
    Mortgage with dependants 10th Jan 18 at 12:12 PM
    Hi


    I need to remortgage later this year and this will include hopefully borrowing more money. I live with my partner (soon to be fianc!) and our 9 month old baby.


    The house is soley in my name and the application would be based on me alone but I was just wondering if anyone could reassure me(or not) that I would be able to borrow the require funds.


    Salary: 32k
    House Value: 180-200k
    Mortgage at redemptation date: 120k
    Remortgage amount requesting : 128.5k
    No CC debt




    Currently with Nationwide and I have been assuming id be able to apply for one of there 5 year deals no problem, but would like some kind of censuses weather that is likely.


    Thanks in advance
    S
    Scoops
Page 1
    • YHM
    • By YHM 10th Jan 18, 12:17 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #2
    • 10th Jan 18, 12:17 PM
    • #2
    • 10th Jan 18, 12:17 PM
    Should be fine, subject to an affordability assessment.

    Nationwide arent particularly competitive with rates, so would recommend reviewing the market with a broker
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
    • scoops82
    • By scoops82 10th Jan 18, 12:33 PM
    • 237 Posts
    • 22 Thanks
    scoops82
    • #3
    • 10th Jan 18, 12:33 PM
    • #3
    • 10th Jan 18, 12:33 PM
    For a fee free mortgage too? With a LTV of say under 75% - what is likely?


    Nationwide are currently 2.14%
    Scoops
    • YHM
    • By YHM 10th Jan 18, 2:27 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #4
    • 10th Jan 18, 2:27 PM
    • #4
    • 10th Jan 18, 2:27 PM
    I cannot name names on here, but all I can say is there are quite a few other lenders that are cheaper.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
    • scoops82
    • By scoops82 10th Jan 18, 3:15 PM
    • 237 Posts
    • 22 Thanks
    scoops82
    • #5
    • 10th Jan 18, 3:15 PM
    • #5
    • 10th Jan 18, 3:15 PM
    Thanks - I understand you cant name names. I did use a fee free broker so maybe I need spend some money on advice next time.


    I also have another property which currently has CTL on it.
    Value 90-95k
    O/S Mortgage = 70k


    Would this rule of some of those lenders?


    How much does an advisor cost?
    Scoops
    • YHM
    • By YHM 10th Jan 18, 3:37 PM
    • 537 Posts
    • 198 Thanks
    YHM
    • #6
    • 10th Jan 18, 3:37 PM
    • #6
    • 10th Jan 18, 3:37 PM
    Potentially, as some lenders will account for the mortgage if its only on a CTL not a BTL.

    Variety of fees. I know of Fee Free brokers and I know of brokers that charge 999. Maybe best to speak to friends and family see if they know of any local reputable ones.
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
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