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Mortgage advice


Jambomuzz

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When it doubt… ask kickback.

 

Currently on the house hunt and have been using a mortgage advisor to help sort my first mortgage (first time buyer). I’m buying alone and I have a pretty basic wage so the total the mortgage advisor is coming in with is 73k, which is around 7k or so less than what I’d really hoped for, will just make the house finding process a bit harder. 
Having gone through affordability checks with the website “habito” I am being told based on the exact same information as was given to the mortgage advisor that I could be lent anywhere up to £84,000. It doesn’t feel as personal and I am worried that if I go with them that I may be rejected when applying. Should I be rejected would this have a negative effect if I was then to go with my other mortgage advisors figure? Should I stick with the original advisor? Has anyone used habito as a FTB?

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Everyone will be different but we done a comparison website mortgage check and also used the advisor that we were recommended by our Estate Agent. Both came back with the exact same Mortgage. 

 

Outside of that I think there is a poster on here who has helped loads of KBers with decent free advice before so hopefully they see this.

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You say mortgage advisor. Do you mean broker?

 

I went through two brokers and a mortgage advisor in a bank before finding a broker that was decent. There was over £150k difference in what the last broker could get me in comparison to the worst one. 

 

I'd just advise you shop around, not all brokers are equal.

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24 minutes ago, IronJambo said:

You say mortgage advisor. Do you mean broker?

 

I went through two brokers and a mortgage advisor in a bank before finding a broker that was decent. There was over £150k difference in what the last broker could get me in comparison to the worst one. 

 

I'd just advise you shop around, not all brokers are equal.

100%

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Go and see Stuart MacDonald at https://macdonaldmortgagesolutions.co.uk/ good Jambo and has done my last 2 mortgages as well as a number of friends, got us a mortgage with same bank as another broker (FirstMortgage) told us we had no chance with, honestly won't go anywhere else while he's working in the industry

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16 hours ago, hughesie27 said:

Everyone will be different but we done a comparison website mortgage check and also used the advisor that we were recommended by our Estate Agent. Both came back with the exact same Mortgage. 

 

Outside of that I think there is a poster on here who has helped loads of KBers with decent free advice before so hopefully they see this.

 

Is the Old Tollbooth up the High Street? :whistling:

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16 hours ago, Jambomuzz said:

When it doubt… ask kickback.

 

Currently on the house hunt and have been using a mortgage advisor to help sort my first mortgage (first time buyer). I’m buying alone and I have a pretty basic wage so the total the mortgage advisor is coming in with is 73k, which is around 7k or so less than what I’d really hoped for, will just make the house finding process a bit harder. 
Having gone through affordability checks with the website “habito” I am being told based on the exact same information as was given to the mortgage advisor that I could be lent anywhere up to £84,000. It doesn’t feel as personal and I am worried that if I go with them that I may be rejected when applying. Should I be rejected would this have a negative effect if I was then to go with my other mortgage advisors figure? Should I stick with the original advisor? Has anyone used habito as a FTB?

Shop around  mate. Lenders are getting the jitters since the last crash.

My wife isn't a mortgage advisor but she's in the industry and it's amazing to hear the range of variations she sees on a daily basis.

 

Borrowers being asked if they can afford interest rates of up to 15% , borrowers being refused mortgages on properties they've already bid on because lenders don't agree the asking price (this is England, where it's obv different), mortgage advisors offering poor advice (especially when it comes to insurance cover). In short, there a lot of differences across the industry.

 

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Samuel Camazzola
19 hours ago, hughesie27 said:

Everyone will be different but we done a comparison website mortgage check and also used the advisor that we were recommended by our Estate Agent. Both came back with the exact same Mortgage. 

 

Outside of that I think there is a poster on here who has helped loads of KBers with decent free advice before so hopefully they see this.

Same guy who amused us all with the London blind date story? 😄 

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5 minutes ago, Samuel Camazzola said:

Same guy who amused us all with the London blind date story? 😄 

And the equally infamous getting air pumped up his arse story. 

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57 minutes ago, Tazio said:

And the equally infamous getting air pumped up his arse story. 

or the many other stories he has for some strange reason willingly posted on here

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2 hours ago, Samuel Camazzola said:

Same guy who amused us all with the London blind date story? 😄 

I remember this story well! Lol. 
if anyone has is contact details or a link to his profile so I can PM him please drop me a direct message! 

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7 hours ago, Ribble said:

Go and see Stuart MacDonald at https://macdonaldmortgagesolutions.co.uk/ good Jambo and has done my last 2 mortgages as well as a number of friends, got us a mortgage with same bank as another broker (FirstMortgage) told us we had no chance with, honestly won't go anywhere else while he's working in the industry

I’m based in glasgow, will that matter? 

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2 minutes ago, Jambomuzz said:

I’m based in glasgow, will that matter? 

 

Not at all, he's happy to stuff over zoom etc and has clients all over the UK

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4 hours ago, cotter said:

This guy has done a couple for me, and is definitely my first port of call when looking to change.  

 

https://www.mortgageadvicebureau.com/mortgage-advisers/john-mitchell?fbclid=IwAR0-LNXOaQpZWz-Kvc-a2dicis5fukKh7EWyYY-dxAMVm7Ob3IyWzC2-_6U

 

If your lucky, he might tell you a story about a trip to London and an old BMW :)

This is John’s mortgage page

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  • 4 months later...

Wife and I looking to get a mortgage as we want a new house (currently council) with (for me garage for motorbike) and private back garden.

 

The trouble is as this is our first mo0rtgage we are completely stumped on the process, amount we can borrow, interest rates etc. Also we are a bit older than average fist time buyers (I'm 47, she's 58).

 

Have done several calculators and each comes up with wildly varying amounts we can borrow.

 

Any help JKB gratefully received...

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49 minutes ago, windsor1874 said:

Just go to a few different banks. Book an appointment. They'll tell you how much they will lend you and at what rate. Choose the best one and get it agreed in principle. Bid on the house you want and, when successful, go back to the bank to confirm previously agreed rate. People try to overcomplicate it when it really shouldn't be.

You've just overcomplicated it. Why waste your time going to several banks when you could have one visit to an independent mortgage adviser who will do this work for you?

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5 hours ago, muldoon74 said:

Wife and I looking to get a mortgage as we want a new house (currently council) with (for me garage for motorbike) and private back garden.

 

The trouble is as this is our first mo0rtgage we are completely stumped on the process, amount we can borrow, interest rates etc. Also we are a bit older than average fist time buyers (I'm 47, she's 58).

 

Have done several calculators and each comes up with wildly varying amounts we can borrow.

 

Any help JKB gratefully received...


See my posts above, make an appointment with Stuart, he’ll take you through the process step by step and explain your options

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1 hour ago, Flimsy said:

You've just overcomplicated it. Why waste your time going to several banks when you could have one visit to an independent mortgage adviser who will do this work for you?


Not to mention going bank by bank will run the risk of hard credit searches, a mortgage advisor at least knows who does soft or hard searches for an AIP

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Carl Weathers
3 hours ago, Flimsy said:

You've just overcomplicated it. Why waste your time going to several banks when you could have one visit to an independent mortgage adviser who will do this work for you?

Agreed. I can recommend Leith Mortgage centre. They will be able to advise what you can borrow and help with the application process. 

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  • 4 weeks later...

Guys looking for a wee bit advice regarding remortgaging, how's the best way to get your home revalued as looking for a low as possible ltv ratio.

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1 minute ago, escobri said:

Guys looking for a wee bit advice regarding remortgaging, how's the best way to get your home revalued as looking for a low as possible ltv ratio.

 

Would imagine it'd need to be a home report

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mrmarkus1981_1

Home Report would be for a sale I reckon, a straight forward remortgage valuation would be done and paid for by any prospective lender

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3 hours ago, escobri said:

Guys looking for a wee bit advice regarding remortgaging, how's the best way to get your home revalued as looking for a low as possible ltv ratio.


I’d imagine the new mortgage provider would deal with that. 

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Thanks for replies guys, wasn't a need to revalue as ltv ratio is pretty low and as im not needing to borrow more just renew my deal its not worth the hassle, new 5 year deal sorted as im very wary of interest rates shooting up.

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The Old Tolbooth
On 17/03/2022 at 17:25, escobri said:

Guys looking for a wee bit advice regarding remortgaging, how's the best way to get your home revalued as looking for a low as possible ltv ratio.

 

Sorry I missed your post mate, quite honestly the easiest way of doing this if you're doing it yourself is to put your own figure on the valuation for a remo of which you need to achieve the lower end desired LTV, and let the lender knock you down ;) 

 

I tend to do this quite a lot, and with property prices being quite ridiculous at the moment, very few are getting knocked down the way. Glad to see you've gotten yourself sorted with a 5 year fixed rate though, definitely the right move. :thumbsup:

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1 hour ago, The Old Tolbooth said:

 

Sorry I missed your post mate, quite honestly the easiest way of doing this if you're doing it yourself is to put your own figure on the valuation for a remo of which you need to achieve the lower end desired LTV, and let the lender knock you down ;) 

 

I tend to do this quite a lot, and with property prices being quite ridiculous at the moment, very few are getting knocked down the way. Glad to see you've gotten yourself sorted with a 5 year fixed rate though, definitely the right move. :thumbsup:

Hope so regarding the 5 year, only done a 5 year once before and interest rates plummeted half way through, just my luck haha

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Just now, escobri said:

Hope so regarding the 5 year, only done a 5 year once before and interest rates plummeted half way through, just my luck haha


Rates only going one way for the short/medium term, I think you’ll be okay  on a 5 year. 

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