Anyone else trying to get a mortgage at the moment?

[magickate]

Thank you that's some really good advice.

So if I speak with the estate agents that's selling the house we want they should be able to recommend?
If we can get a mortgage that takes overtime into consideration we're still in with a chance, would just need to find the extra % for the deposit.

[Sew109]

Originally Posted by Bellasmummy

I’d say that as a general rule if you use a broker associated with the estate agent dealing with either sale or purchase should mean that they’ll deal with things as quickly as possible. The agent would be chasing them as they want to get to completion ASAP to get their money.

That obviously doesn’t mean that they would do the best job though just that they’d do it quickly.

We researched to find the best deal for us, used the agents broker who also picked the same deal so we went direct to the lender to save the brokers fee.

As ours was a straightforward deal it made sense for us.

Brokers are great if your mortgage isn’t so straightforward, high loan to value, self employed etc.

See more...

In my experience using any service associated with the estate agent is bad news whether it’s the broker, surveyor and certainly the solicitor. Any service aligned with the estate agent will have their interest as their main concern not you this usually means moving everything along as quickly as possible which is not always the same as yours. It may take longer to get a better deal but over the next 5 years may save you thousands.

[arielrocks]

Use a broker. It may cost you £300 but they are so efficient and fast, usually find some form of deal that you wouldn’t through non high street lenders. As an example we remortgaged directly with Halifax and it took 12 weeks to go through. They were so so slow and everything. Next time we used a broker and we remortgage and completed within 4 weeks.

Just my advice though x happy to pass out broker details. If you need them.

[skalexander]

Originally Posted by magickate

Thank you that's some really good advice.

So if I speak with the estate agents that's selling the house we want they should be able to recommend?
If we can get a mortgage that takes overtime into consideration we're still in with a chance, would just need to find the extra % for the deposit.

See more...

I would ask around friends and family. Failing that, if you've got a community Facebook page maybe ask there. This question comes up a lot on our local Facebook page and there's one Firm who are consistently recommended by most of the people who respond. We used them as did my brother and they were as good as people said.

[magickate]

Thank you.
We've got another viewing of the house next week that my parents are coming to as I want their opinion. Mom is one of those brutally honest people and I worry I may be ruling with heart over head, she'll tell me what I need to hear. If all good I'll start searching for a broker, I've seen Accord are now offering 90% LTV mortgages again but they don't deal direct with general public so perhaps that's something a broker could sort for us. Terribly high interest though!

The move will cancel off next years Florida trip but we were unsure the cruise would go ahead anyway so never mind.

[StarlingFlight]

Originally Posted by magickate

Thank you.
We've got another viewing of the house next week that my parents are coming to as I want their opinion. Mom is one of those brutally honest people and I worry I may be ruling with heart over head, she'll tell me what I need to hear. If all good I'll start searching for a broker, I've seen Accord are now offering 90% LTV mortgages again but they don't deal direct with general public so perhaps that's something a broker could sort for us. Terribly high interest though!

The move will cancel off next years Florida trip but we were unsure the cruise would go ahead anyway so never mind.

See more...

Our mortgage is with accord... got it through our broker 4 years ago (remortgaged directly with them after 2 years). They have been really good and I've always had good customer service from them. I called them last week to ask about early repayment charges as we may be moving before this mortgage deal is up and she was really friendly with us even when I was asking about leaving.

[Tynxuk]

We are in a similar situation as started looking at the end of last year. We found a house we really liked in June but found the lenders dropped what they were willing to lend by £20k so got a 75% LTV. 2 days before exchange we were gazumped by £13k and the bank were not willing to lend more as did not value the property that high.
A couple of weeks ago we put an offer in on a house and thankfully hubby has had a promotion and I am now working part time so can borrow more although the broker did say things are changing daily and the lenders are really tightening up. The house is off the market so no risk of being gazumped and hopefully we have the keys by Christmas.

[Sew109]

Originally Posted by Tynxuk

We are in a similar situation as started looking at the end of last year. We found a house we really liked in June but found the lenders dropped what they were willing to lend by £20k so got a 75% LTV. 2 days before exchange we were gazumped by £13k and the bank were not willing to lend more as did not value the property that high.
A couple of weeks ago we put an offer in on a house and thankfully hubby has had a promotion and I am now working part time so can borrow more although the broker did say things are changing daily and the lenders are really tightening up. The house is off the market so no risk of being gazumped and hopefully we have the keys by Christmas.

See more...

fingers crossed

[magickate]

Originally Posted by Tynxuk

We are in a similar situation as started looking at the end of last year. We found a house we really liked in June but found the lenders dropped what they were willing to lend by £20k so got a 75% LTV. 2 days before exchange we were gazumped by £13k and the bank were not willing to lend more as did not value the property that high.
A couple of weeks ago we put an offer in on a house and thankfully hubby has had a promotion and I am now working part time so can borrow more although the broker did say things are changing daily and the lenders are really tightening up. The house is off the market so no risk of being gazumped and hopefully we have the keys by Christmas.

See more...

Best of luck to you. What a stressful situation

[megaflyer]

People are going for it at the moment as they expect things to tighten up after the Chancellors autumn statement - the market seems very nervous.