Current Mortgages Offers

[Springal]

Thanks all. The problem with moving lender is, the possibility (probability) they will want to do a survey, and I imagine they will value my property considerably less than I paid for it, meaning my LTV shooting back up.

My main concern is the SVR being pushed up significantly, and I am not sure I like being at the mercy of a mortgage company who can change that rate, however they like.

 

[SK1NT]

Thanks all. The problem with moving lender is, the possibility (probability) they will want to do a survey, and I imagine they will value my property considerably less than I paid for it, meaning my LTV shooting back up.

My main concern is the SVR being pushed up significantly, and I am not sure I like being at the mercy of a mortgage company who can change that rate, however they like.

Tough i know... Im currently just going with the flow and staying on my SVR... It is 4.95% so pretty high as it goes... C'est La Vie... Good Luck

 

[Springal]

Tough i know... Im currently just going with the flow and staying on my SVR... It is 4.95% so pretty high as it goes... C'est La Vie... Good Luck

Fortunately, I do have a lender at the moment though that is happy to not value it, so leaving me where I am!

 

[Uncle Spielberg]

I like the Woolwich 3.99% fixed until 31/5/15, £ 499 arrangement fee added to the mortgage, free survey and free legals to 80% lv.

 

[Uncle Spielberg]

Thanks all. The problem with moving lender is, the possibility (probability) they will want to do a survey, and I imagine they will value my property considerably less than I paid for it, meaning my LTV shooting back up.

My main concern is the SVR being pushed up significantly, and I am not sure I like being at the mercy of a mortgage company who can change that rate, however they like.

In the future their will be millions of mortgage prisoners on their lenders svr and at their mercy.

 

[SK1NT]

I like the Woolwich 3.99% fixed until 31/5/15, £ 499 arrangement fee added to the mortgage, free survey and free legals to 80% lv.

That it fine... I have better than 80% too... However is it another 3.5 times your wage? this is what is screwing me over

 

[HantsSeagull]

That it fine... I have better than 80% too... However is it another 3.5 times your wage? this is what is screwing me over

depends on your credit score probably - you might get more than 3.5 times. it just depends on what multiplier you need - if its 4 or maybe 4.5 times then that might be feasible. if you need 8 times then

no harm in applying and seeing what happens but woolwich charge 150 quid for that privilege

 

[Bozza]

What's the current market norm for joint income multipliers?

 

[SK1NT]

depends on your credit score probably - you might get more than 3.5 times. it just depends on what multiplier you need - if its 4 or maybe 4.5 times then that might be feasible. if you need 8 times then

no harm in applying and seeing what happens but woolwich charge 150 quid for that privilege

jesus £150

Need 5 times my salary and have about 30% equity... i would have thought its a pretty good position but it sure aint

 

[Uncle Spielberg]

depends on your credit score probably - you might get more than 3.5 times. it just depends on what multiplier you need - if its 4 or maybe 4.5 times then that might be feasible. if you need 8 times then

no harm in applying and seeing what happens but woolwich charge 150 quid for that privilege

No they don't they only charge £ 150 if they issue the mortgage offer letter and you decide not to take it up. They charge nothing for applying.

 

[Uncle Spielberg]

What's the current market norm for joint income multipliers?

Lenders are moving away from income multipliers and doing individual income affordability assessments so it is getting more and more difficult to give an indication of how much someone can borrow. Having said that Woolwich and a couple of other will consider up to 5 x.

 

[Uncle Spielberg]

That it fine... I have better than 80% too... However is it another 3.5 times your wage? this is what is screwing me over

It can ONLY be done on repayment and you want interest only I think.

 

[saafend_seagull]

I have just got a 'mortgage certificate' with HSBC for 3.94X my salary yesterday. I have never missed a payment but also never had a credit card though.

Also - 80% LTV - tracker rate payable is 3.29%
Overall cost for comparison is 3.4% APR
About £800 booking fee, completion and valuation fees (only £500 can be added to mortgage)

90% LTV - tracker rate payable is 4.79%, cost of comparison 4.9% APR.

(First time, sole buyer, capital repayment)

 

[SK1NT]

It can ONLY be done on repayment and you want interest only I think.

Oh i have a good credit rating... btw and no want repayment.. How long are these about for US?

 

[SK1NT]

I have just got a 'mortgage certificate' with HSBC for 3.94X my salary yesterday. I have never missed a payment but also never had a credit card though.

Also - 80% LTV - tracker rate payable is 3.29%
Overall cost for comparison is 3.4% APR
About £800 booking fee, completion and valuation fees (only £500 can be added to mortgage)

90% LTV - tracker rate payable is 4.79%, cost of comparison 4.9% APR.

(First time, sole buyer, capital repayment)

How long is this mortgage for? and what is the SVR?

 

[Uncle Spielberg]

I have just got a 'mortgage certificate' with HSBC for 3.94X my salary yesterday. I have never missed a payment but also never had a credit card though.

Also - 80% LTV - tracker rate payable is 3.29%
Overall cost for comparison is 3.4% APR
About £800 booking fee, completion and valuation fees (only £500 can be added to mortgage)

90% LTV - tracker rate payable is 4.79%, cost of comparison 4.9% APR.

(First time, sole buyer, capital repayment)

Good luck with that then !

HSBC Mortgage Review | Gross incompetence inneficiency - Avoid HSBC mortgages!!

 

[Uncle Spielberg]

Oh i have a good credit rating... btw and no want repayment.. How long are these about for US?

what do you mean " no want repayment " ?. It is around until they pull the rate. I can book the funds for you. Max ltv 80% and will consider 5 x.

 

[SK1NT]

what do you mean " no want repayment " ?. It is around until they pull the rate. I can book the funds for you. Max ltv 80% and will consider 5 x.

Sorry not great English.... No i don't want interest only. Just repayment....

Let me get back to you... What is the SVR?

Im always hesitant to get a new mortgage incase i miss a new better rate that comes out. Been unlucky with mortgage lately...

So prob happy to sit on SVR... The fees are a killer too... They dont half add up.

 

[Westdene Seagull]

Good luck with that then !

HSBC Mortgage Review | Gross incompetence inneficiency - Avoid HSBC mortgages!!

Although to be fair I've had bad experiences with a number of other lenders. I'm sure you can find someone to provide a bad review for any lender out there.

 

[Uncle Spielberg]

£ 499 is a low fee. Free survey and free legals as well. At 80%, 3.99% fixed for 3 years is a superb rate but its up to you mate.