Chit Chat
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Never done it before. My last payment is Sept 1. By then I will owe about 75k, flat prob worth about 150k, give or take. Fancy getting
A 75% mortgage, ie. 112.5k, thus taking 37.5k in cash out the flat – Can I do this?
I want an offset mortgage so that I can leave this cash in the current account, not paying interest on it, ready for a rainy day or buy to let opportunity.
Did the google mortages search thing and found Beverley Building Society Had a good deal, fee free, offset, low interest. Contacted them
And they say 60% for a flat – I don’t really want to go down a long list of lenders and going through the process of contacting them, and perhaps even applying, only to find out that their fantastic headline offer doesn’t apply for some reason – apparently you can damage your credit rating (which is tip top) if you do this too. Would you use an agent? One contacted me via Google mortgages but was gonna charge £300 or more I think. When I used an agent from the Estate Agent when I bought the place they didn’t charge me anything – does that only work with FTB but not remortgages. I did actually contact the agent I used and did seem keen until I told her about the Beverley deal I fancied and she didn’t reply – reckon she is one of those that can only deal in mortgages with certain lenders and perhaps there was no money in it for her with Beverley. Might pop in an estate agents on the way home to see if they can help. The easiest way is to go with Halifax, who I bank with and are always hassling me about changing my mortgage to them, but the rates are much better elsewhere.
Only got 6 weeks to sort it now or I go on the cr@ppy SVR. All advice greatly appreciated.
A 75% mortgage, ie. 112.5k, thus taking 37.5k in cash out the flat – Can I do this?
I want an offset mortgage so that I can leave this cash in the current account, not paying interest on it, ready for a rainy day or buy to let opportunity.
Did the google mortages search thing and found Beverley Building Society Had a good deal, fee free, offset, low interest. Contacted them
And they say 60% for a flat – I don’t really want to go down a long list of lenders and going through the process of contacting them, and perhaps even applying, only to find out that their fantastic headline offer doesn’t apply for some reason – apparently you can damage your credit rating (which is tip top) if you do this too. Would you use an agent? One contacted me via Google mortgages but was gonna charge £300 or more I think. When I used an agent from the Estate Agent when I bought the place they didn’t charge me anything – does that only work with FTB but not remortgages. I did actually contact the agent I used and did seem keen until I told her about the Beverley deal I fancied and she didn’t reply – reckon she is one of those that can only deal in mortgages with certain lenders and perhaps there was no money in it for her with Beverley. Might pop in an estate agents on the way home to see if they can help. The easiest way is to go with Halifax, who I bank with and are always hassling me about changing my mortgage to them, but the rates are much better elsewhere.
Only got 6 weeks to sort it now or I go on the cr@ppy SVR. All advice greatly appreciated.
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think u have to prove u earn enough to borrow 112.5 k then shd be fairly easy wd need to gross c 38k per annum
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She didnt say that, just 60pc for flats. People must have experience of this, less than a month before I get put on the SVR which is worse than my current rate even though I am on a 85pc FTB mortgage. How did you go about remortgaging?
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Rob, Aspro is brilliant will all of that kind of stuff and knows all the ins and outs of it all.
I haven't seen him post for ages though, so don't know if he still looks in or not. You could always send him a PM on the beta platform and see if he responds? |
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*with all that kind of stuff
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IFA
trot along to see one, sorted! |
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Is that normal? What does it cost? My FTB mortgage cost nowt because the agent got a cut fromthe bank.
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Rob this was about 10 years ago and I don't know if things have changed but when I remortgaged I just went on to money supermarket and did my own research and got a much better deal than any of the ones I was offered by IFAs. Why pay a middleman?
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^^^^^^ just to add, to answer my own question, I know the stock answer is "because IFAs have access to the best deals". In my own experience that certainly wasn't the case and I did get offers from a few of them, but like I said it was 10 years ago so who knows, maybe it's different now?
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L&C mortgage brokers. No charges and they are the biggest in the country.
I've had excellent, very friendly service from them. They do all the forms for you as well as finding you the best mortgage. They make their money from the mortgage companies. |
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Cheers all, some sound advice coming through now. Have requested a call back from L and C.
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Had the chatwith LandC last Sunday and have been filling in forms etc all week, am applying for a 2.89pc deal with no fees and £200 cashback with Woolwich. Hopefully it all gets sorted by the end of the month. Viewed a BTL place in Biggleswade this morning and have put an offer in on that too so will begoing back to L and C to try and sort me with a BTL mortgage too. So far so good.
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^^sounds good mate^^
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