DaveyT Posted June 2, 2008 Share Posted June 2, 2008 Does anyone know the best place to go for a mortgage ? Or the best lender ? I am putting down a 75 % deposit on the property Link to comment Share on other sites More sharing options...
neobis Posted June 2, 2008 Share Posted June 2, 2008 Does anyone know the best place to go for a mortgage ?Or the best lender ? I am putting down a 75 % deposit on the property Try London & Country; they will source the best one for you. http://www.lcplc.co.uk/ Link to comment Share on other sites More sharing options...
gavsmith Posted June 2, 2008 Share Posted June 2, 2008 Try London & Country; they will source the best one for you. http://www.lcplc.co.uk/ So predictable! It's worth looking at going direct to lenders as many of them are offering cheaper deals that they ones they sell through brokers/intermediaries. Link to comment Share on other sites More sharing options...
Munch Posted June 2, 2008 Share Posted June 2, 2008 Does anyone know the best place to go for a mortgage ?Or the best lender ? I am putting down a 75 % deposit on the property go to an independant financial advisor. Link to comment Share on other sites More sharing options...
belly Posted June 2, 2008 Share Posted June 2, 2008 go to an independant financial advisor. I am going to one tomorrow Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 Try London & Country; they will source the best one for you. http://www.lcplc.co.uk/ Link to comment Share on other sites More sharing options...
CornhillHearts Posted June 2, 2008 Share Posted June 2, 2008 Depends what you're looking for, currently re-mortgaging with Nationwide fixed rate 5 years @5.95% (no fees) pretty competitive. Link to comment Share on other sites More sharing options...
S.N.T.H. Posted June 2, 2008 Share Posted June 2, 2008 When your thoughts turn to Mortgages, turn to RBS. The number one bank for customer service. Link to comment Share on other sites More sharing options...
Stuart Lyon Posted June 2, 2008 Share Posted June 2, 2008 Isn't this John Mitchell's area of expertise? Link to comment Share on other sites More sharing options...
JamboSean Posted June 2, 2008 Share Posted June 2, 2008 I am going to one tomorrow Best thing to do. Mortgage prices will be pretty rough right now, especially with the big banks. Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 I am going to one tomorrow But your not booked in on my diary Link to comment Share on other sites More sharing options...
chester copperpot Posted June 2, 2008 Share Posted June 2, 2008 But your not booked in on my diary In all seriousness though, JM is the most trusted individual I have met in the financial advice industry. Granted not that great a recommendation, but he's the sort of guy who gives you the best deal, regardless of what commision he receives. (which is likely to be huge anyway). Vote JM, he's the way forward. Link to comment Share on other sites More sharing options...
Munch Posted June 2, 2008 Share Posted June 2, 2008 I am going to one tomorrow there is a guy in Musselburgh, he got a great company, The Edinburgh Mortgage Company, he is a good jambo as well. Good Luck.:107years: Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 In all seriousness though, JM is the most trusted individual I have met in the financial advice industry. Granted not that great a recommendation, but he's the sort of guy who gives you the best deal, regardless of what commision he receives. (which is likely to be huge anyway). Vote JM, he's the way forward. I think you fancy me Link to comment Share on other sites More sharing options...
CostaJambo Posted June 2, 2008 Share Posted June 2, 2008 I think you fancy me John, are there any decent buy-to-let mortgages on the go at present? Link to comment Share on other sites More sharing options...
Munch Posted June 2, 2008 Share Posted June 2, 2008 But your not booked in on my diary Are there any 85% BTL Products available now, with 100% rental cover, say fixed for 2 years ? what rate ? and what arrangement fee? curious Jambo. Link to comment Share on other sites More sharing options...
chester copperpot Posted June 2, 2008 Share Posted June 2, 2008 Are there any 85% BTL Products available now, with 100% rental cover, say fixed for 2 years ? what rate ? and what arrangement fee? curious Jambo. Book an appointment ya cheapskate. And he's free for the appointment too Link to comment Share on other sites More sharing options...
badly drawn boy Posted June 2, 2008 Share Posted June 2, 2008 John, are there any decent buy-to-let mortgages on the go at present? No in a word Link to comment Share on other sites More sharing options...
Makween Posted June 2, 2008 Share Posted June 2, 2008 You've got to be careful with mortgages, they're elusive ****ers. I found one in my shrubbery the other day, the little tyke. Had to bash it a few times with the rake just to teach it to **** off out of my garden. Link to comment Share on other sites More sharing options...
badly drawn boy Posted June 2, 2008 Share Posted June 2, 2008 Are there any 85% BTL Products available now, with 100% rental cover, say fixed for 2 years ? what rate ? and what arrangement fee? curious Jambo. At it Jambo more like Link to comment Share on other sites More sharing options...
Munch Posted June 2, 2008 Share Posted June 2, 2008 No in a word pity i could have put some business your way, whats best on the go at the moment.:107years: Link to comment Share on other sites More sharing options...
badly drawn boy Posted June 2, 2008 Share Posted June 2, 2008 pity i could have put some business your way, whats best on the go at the moment.:107years: Link to comment Share on other sites More sharing options...
coppercrutch Posted June 2, 2008 Share Posted June 2, 2008 Buy to let mortgages ...... Unless you are putting down a seriously hefty deposit then this will probably be one of the worst investments you could ever make. Save your cash. Put it somewhere VERY SAFE and if you still want to get into BTL ?? When prices have crashed to sensible levels then and only then dive in. At the moment the numbers simply do not add up. Not even close. Especially in Edinburgh. To put it very simply BTL is a decent investment when the rent you will receive comes close to paying your mortgage, or even leaves you with a little left over. BTL is a good investment when it actually gives you a monthly profit. This advice is free, use it. I think I should start charging. Link to comment Share on other sites More sharing options...
chester copperpot Posted June 2, 2008 Share Posted June 2, 2008 Buy to let mortgages ...... Unless you are putting down a seriously hefty deposit then this will probably be one of the worst investments you could ever make. Save your cash. Put it somewhere VERY SAFE and if you still want to get into BTL ?? When prices have crashed to sensible levels then and only then dive in. At the moment the numbers simply do not add up. Not even close. Especially in Edinburgh. To put it very simply BTL is a decent investment when the rent you will receive comes close to paying your mortgage, or even leaves you with a little left over. BTL is a good investment when it actually gives you a monthly profit. This advice is free, use it. I think I should start charging. Totally agree with CC on this one. Wait your time. Link to comment Share on other sites More sharing options...
Boaby Ewing Posted June 2, 2008 Share Posted June 2, 2008 Buy to let mortgages ...... Unless you are putting down a seriously hefty deposit then this will probably be one of the worst investments you could ever make. Save your cash. Put it somewhere VERY SAFE and if you still want to get into BTL ?? When prices have crashed to sensible levels then and only then dive in. At the moment the numbers simply do not add up. Not even close. Especially in Edinburgh. To put it very simply BTL is a decent investment when the rent you will receive comes close to paying your mortgage, or even leaves you with a little left over. BTL is a good investment when it actually gives you a monthly profit. This advice is free, use it. I think I should start charging. Over four hours since the original post. You're slipping. Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 Buy to let mortgages ...... Unless you are putting down a seriously hefty deposit then this will probably be one of the worst investments you could ever make. Save your cash. Put it somewhere VERY SAFE and if you still want to get into BTL ?? When prices have crashed to sensible levels then and only then dive in. At the moment the numbers simply do not add up. Not even close. Especially in Edinburgh. To put it very simply BTL is a decent investment when the rent you will receive comes close to paying your mortgage, or even leaves you with a little left over. BTL is a good investment when it actually gives you a monthly profit. This advice is free, use it. I think I should start charging. BTL is all about long term investment/retirement solution rather than focusing on making monthly profits. Both is obviously the ideal! Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 Are there any 85% BTL Products available now, with 100% rental cover, say fixed for 2 years ? what rate ? and what arrangement fee? curious Jambo. Bank of Ireland 6.99% fixed for 3 or 5 years with a 1% arrangement fee Happy to help for free Link to comment Share on other sites More sharing options...
coppercrutch Posted June 2, 2008 Share Posted June 2, 2008 Over four hours since the original post. You're slipping. I was out golfing !!! I have been giving this free advice for ages on this site. Seems a lot of my 'nonsense' is not quite so non-sensical after all. Helping strangers avoid mistakes. I feel like Mother Theresa. Link to comment Share on other sites More sharing options...
coppercrutch Posted June 2, 2008 Share Posted June 2, 2008 BTL is all about long term investment/retirement solution rather than focusing on making monthly profits. Both is obviously the ideal! Indeed. So why not wait until the time when you can get both at the same time.... 4 years would seem to be the best bet, based on previous similar circumstances. Link to comment Share on other sites More sharing options...
Stuart Lyon Posted June 2, 2008 Share Posted June 2, 2008 She's deid! Is that how you feel? Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 Buy to let mortgages ...... Unless you are putting down a seriously hefty deposit then this will probably be one of the worst investments you could ever make. Save your cash. Put it somewhere VERY SAFE and if you still want to get into BTL ?? When prices have crashed to sensible levels then and only then dive in. At the moment the numbers simply do not add up. Not even close. Especially in Edinburgh. To put it very simply BTL is a decent investment when the rent you will receive comes close to paying your mortgage, or even leaves you with a little left over. BTL is a good investment when it actually gives you a monthly profit. This advice is free, use it. I think I should start charging. Whilst I probably wouldn't recommend someone getting into the BTL market just now, there are plenty of people who already have these mortgages and are coming to the end of their deal who need another one sorted out, rather than go onto the SVR, so still scope for mortgage brokers to set up a BTL mortgage Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 Indeed. So why not wait until the time when you can get both at the same time.... 4 years would seem to be the best bet, based on previous similar circumstances. I'm not saying to go out and invest in Buy to Let now, was just meaning to think of it as a long term investment when the time is right. Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 Whilst I probably wouldn't recommend someone getting into the BTL market just now, there are plenty of people who already have these mortgages and are coming to the end of their deal who need another one sorted out, rather than go onto the SVR, so still scope for mortgage brokers to set up a BTL mortgage Although it's also easy enough to research and shop around yourself Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 John, are there any decent buy-to-let mortgages on the go at present? Badly Drawn Boy answered it perfectly mate Link to comment Share on other sites More sharing options...
LizzyHearts2 Posted June 2, 2008 Share Posted June 2, 2008 Depends what you're looking for, currently re-mortgaging with Nationwide fixed rate 5 years @5.95% (no fees) pretty competitive. re-mortgaging isn't a get out clause. It's simply another debt being added onto the one u already have(whether competitive or not!), a bit like taking out a loan or having a credit card bill u really can't afford! Link to comment Share on other sites More sharing options...
marshallschunkychicken Posted June 2, 2008 Share Posted June 2, 2008 Does anyone know the best place to go for a mortgage ?Or the best lender ? I am putting down a 75 % deposit on the property Just live in Diggers, Goatheid.... Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 Although it's also easy enough to research and shop around yourself It is, however you may not have access to some of the deals that a proper broker might Link to comment Share on other sites More sharing options...
Mr God Awful Ugly Posted June 2, 2008 Share Posted June 2, 2008 I got tired of all the fan nying about every couple of years having to change your mortgage and getting fleeced for the previledge each time. Now I've got something that I'm happy with. An Egg offset mortgage. This mortgage will just run it's course to the end at 1% variable above base rate. You have a savings account aligned to it that doesn't earn interest but is offset against the amount you owe, so your monthly payment takes more money off your debt, the more you have in savings. Theoretically it can take years off your mortgage term if you avoid the temptation of horsing your savings. http://new.egg.com/visitor/0,,3_106220--View_2247,00.html Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 It is, however you may not have access to some of the deals that a proper broker might ..and likewise, customers who go direct to lenders can get cheaper deals than those sold through intermediaries/brokers Link to comment Share on other sites More sharing options...
CornhillHearts Posted June 2, 2008 Share Posted June 2, 2008 re-mortgaging isn't a get out clause. It's simply another debt being added onto the one u already have(whether competitive or not!), a bit like taking out a loan or having a credit card bill u really can't afford! Thanks for that. The thought never occured to me. Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 ..and likewise, customers who go direct to lenders can get cheaper deals than those sold through intermediaries/brokers Not if the broker doesn't charge a fee I get the feeling this could be tit for tat here Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 Not if the broker doesn't charge a fee I get the feeling this could be tit for tat here On a separate note, what's your thoughts on the retail distribution review out of interest? Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 On a separate note, what's your thoughts on the retail distribution review out of interest? Love it, if it means clients get treated more fairly then I'm all for it mate. But you could have just called it TCF *Edit* Just found the report if anyone's interested http://www.fsa.gov.uk/pubs/discussion/rdr_interim_report.pdf Link to comment Share on other sites More sharing options...
coppercrutch Posted June 2, 2008 Share Posted June 2, 2008 re-mortgaging isn't a get out clause. It's simply another debt being added onto the one u already have(whether competitive or not!), a bit like taking out a loan or having a credit card bill u really can't afford! You talk a lot of sense. In a similar vein 'Equity Release' is probably one of the most misunderstood financial offers of recent history. People convinced they are getting money for nothing when in fact it is just more debt with more and more interest added. I do hope I get rewarded for my self discipline and hatred of debt !! Link to comment Share on other sites More sharing options...
70's Throwback Posted June 2, 2008 Share Posted June 2, 2008 Love it, if it means clients get treated more fairly then I'm all for it mate. But you could have just called it TCF *Edit* Just found the report if anyone's interested http://www.fsa.gov.uk/pubs/discussion/rdr_interim_report.pdf It is there alongside TCF, rather than being TCF itself. Link to comment Share on other sites More sharing options...
neobis Posted June 2, 2008 Share Posted June 2, 2008 It is there alongside TCF, rather than being TCF itself. I think someone ....... JM ....... has just googled "retail distribution review" and replied. Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 I think someone ....... JM ....... has just googled "retail distribution review" and replied. I think if you read the reply I edited afterward and added the link Link to comment Share on other sites More sharing options...
neobis Posted June 2, 2008 Share Posted June 2, 2008 I think if you read the reply I edited afterward and added the link 70's Throwback if I ever need mortgage advice again can I come to you as whatever you are speaking about it seems good and knowledgeable ... unless you googled it like johnmitchell . Link to comment Share on other sites More sharing options...
The Old Tolbooth Posted June 2, 2008 Share Posted June 2, 2008 70's Throwback if I ever need mortgage advice again can I come to you as whatever you are speaking about it seems good and knowledgeable ... unless you googled it like johnmitchell . Link to comment Share on other sites More sharing options...
neobis Posted June 2, 2008 Share Posted June 2, 2008 Link to comment Share on other sites More sharing options...
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