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  • FIRST POST
    • Oscartwiglet
    • By Oscartwiglet 7th Feb 18, 2:35 PM
    • 17Posts
    • 1Thanks
    Oscartwiglet
    Online calculators - room for negotiation?
    • #1
    • 7th Feb 18, 2:35 PM
    Online calculators - room for negotiation? 7th Feb 18 at 2:35 PM
    Hello.
    Me and my husband already have a mortgage, but now looking to sell our house and buy somewhere bigger.

    I've been entering our salary details into online calculators on banks' websites and found quite varied results, for example, I have found Santander to be 20k more generous than our current lender.

    We would ideally need this maximum on offer from Santander, but would have to pay a fee to leave our current 5 yr fixed mortgage from Halifax 2 years early.

    We have made an appointment to go and have a chat with our bank, but interested to hear other experiences.

    Does anyone have any experience of this? Have you found your bank more generous than the online calculation suggests? And are these online calculators realistic?
Page 1
    • getmore4less
    • By getmore4less 7th Feb 18, 3:06 PM
    • 31,907 Posts
    • 19,125 Thanks
    getmore4less
    • #2
    • 7th Feb 18, 3:06 PM
    • #2
    • 7th Feb 18, 3:06 PM
    What does your own affordability SOA say you can afford and how far have you stress tested it?
    • kingstreet
    • By kingstreet 7th Feb 18, 3:41 PM
    • 33,194 Posts
    • 17,929 Thanks
    kingstreet
    • #3
    • 7th Feb 18, 3:41 PM
    • #3
    • 7th Feb 18, 3:41 PM
    The intermediary calculators are very accurate when completed correctly.
    I am a mortgage broker. You 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. Please do not send PMs asking for one-to-one-advice, or representation.
    • amnblog
    • By amnblog 7th Feb 18, 3:42 PM
    • 10,415 Posts
    • 4,116 Thanks
    amnblog
    • #4
    • 7th Feb 18, 3:42 PM
    • #4
    • 7th Feb 18, 3:42 PM
    No, they are not more generous that their calculators.

    The calculators are part of their submission to the regulator as to how they will assess affordability.
    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.
    • Oscartwiglet
    • By Oscartwiglet 7th Feb 18, 3:54 PM
    • 17 Posts
    • 1 Thanks
    Oscartwiglet
    • #5
    • 7th Feb 18, 3:54 PM
    • #5
    • 7th Feb 18, 3:54 PM
    Hmm, perhaps best we make an appointment with Santander then, if we can get an extra 20k.
    • amnblog
    • By amnblog 7th Feb 18, 3:58 PM
    • 10,415 Posts
    • 4,116 Thanks
    amnblog
    • #6
    • 7th Feb 18, 3:58 PM
    • #6
    • 7th Feb 18, 3:58 PM
    It might make more sense to consult a broker rather than just pay a fee to leave Halifax.
    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.
    • Oscartwiglet
    • By Oscartwiglet 7th Feb 18, 4:03 PM
    • 17 Posts
    • 1 Thanks
    Oscartwiglet
    • #7
    • 7th Feb 18, 4:03 PM
    • #7
    • 7th Feb 18, 4:03 PM
    Yep, also waiting for a broker to call me back but I was interested to hear from others.
    • logan77
    • By logan77 7th Feb 18, 5:34 PM
    • 21 Posts
    • 6 Thanks
    logan77
    • #8
    • 7th Feb 18, 5:34 PM
    • #8
    • 7th Feb 18, 5:34 PM
    There are building societies that can lend 4.75 times your gross income. Best speak to a broker
    I am a Mortgage and Life Insurance Advisor.

    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
    • Oscartwiglet
    • By Oscartwiglet 8th Feb 18, 4:16 PM
    • 17 Posts
    • 1 Thanks
    Oscartwiglet
    • #9
    • 8th Feb 18, 4:16 PM
    • #9
    • 8th Feb 18, 4:16 PM
    Waiting for a broker with ties to one of the estate agents that valued our house (and the one we would sell with when the time comes) to get back to me about an appointment.
    • amnblog
    • By amnblog 8th Feb 18, 4:57 PM
    • 10,415 Posts
    • 4,116 Thanks
    amnblog
    No No No.....
    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.
    • sammyjammy
    • By sammyjammy 8th Feb 18, 6:05 PM
    • 4,281 Posts
    • 4,632 Thanks
    sammyjammy
    No No No.....
    Originally posted by amnblog
    This ^^

    Really bad idea to use Estate Agents broker.
    "You've been reading SOS when it's just your clock reading 5:05 "
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