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  • FIRST POST
    • femster82
    • By femster82 14th Mar 18, 3:17 PM
    • 47Posts
    • 2Thanks
    femster82
    Applying for Full Mortgage
    • #1
    • 14th Mar 18, 3:17 PM
    Applying for Full Mortgage 14th Mar 18 at 3:17 PM
    Hi,

    I am finally in place to apply for full mortgage today, I am very nervous.

    I have given the broker all my bank statements and pay slips required, they have done an affordability check with the chosen lender and I have passed affordability (according to the broker).

    I now have to pay the broker before we do the full application, obviously I am a bit nervous about this as if I do not get the amount I want after full credit search I would lose my money.
    I have home buyers protection, would that cover me?
    Applying for a 95% mortgage so although I have passed all soft credit checks I am nervous.
Page 1
    • ACG
    • By ACG 14th Mar 18, 3:22 PM
    • 16,822 Posts
    • 8,778 Thanks
    ACG
    • #2
    • 14th Mar 18, 3:22 PM
    • #2
    • 14th Mar 18, 3:22 PM
    Have you asked the people providing the homebuyers protection?

    You have to pay the broker fee regardless of the outcome of the application? As much as I do not agree with that personally (our fees are charged on offer), if you agreed to it you must have thought about it before agreeing to proceed?

    I still remember the first application I submitted for a client, scary! Not so much now. I tend to be pretty confident before spending an hour or 2 packaging the case and filling out an application form - by that, what I mean is, trust your broker. They should know what they are doing.
    I am a Mortgage Adviser
    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.
    • Richard_Pia
    • By Richard_Pia 14th Mar 18, 6:44 PM
    • 62 Posts
    • 31 Thanks
    Richard_Pia
    • #3
    • 14th Mar 18, 6:44 PM
    • #3
    • 14th Mar 18, 6:44 PM
    At 95% your biggest concern would be passing the credit scoring, but it appears you have been successful with that already. Brokers are able to carry out thorough checks on affordability and lender's criteria prior to submitting an application so would always be pretty confident before committing.
    I am a Mortgage Adviser

    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.
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