Mortgage advice

Discussion in 'Finance, Property, Law' started by tiger_lily, Aug 6, 2009.

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  1. Anyone able to give some unofficial advice on a particular point? I've got a mortgage adviser and she's great, but I just want to double check something with someone else. Sounds nuts I know but if anyone knows their stuff I'd be really grateful for a heads up.
  2. Are you looking for a psychic mortgage advisor?
  3. Try us?

  4. Nope just someone who knows what they're talking about when it comes to mortgages to pm so I can ask their view on a situation.
  5. You are quite welcome to pm me but.... I could tell you anything I think you might believe!

    if you ask the question in an open forum, you will receive the collective wisdom of Arrse. Surprisingly, I recommend the latter.

  6. PM me, I'm a mortgage advisor by day.

    Note, I'll be off line until Saturday.

  7. PMs sent thanks
  8. So, was it a dumb question and you didnt want the rest of us to point and laugh?

    You're Blonde aren't you and have read the dumb blonde threads......
  9. While there seems to be some collective wisdom re mortgage advice in this forum, any ideas what the best multiples you might receive on joint income at present? Probably looking at putting down 20-25%. Ta in advance.
  10. I've heard of 2.5 times just recently with a 10% deposit.

    With a 20-25% deposit, you should be able to do better than that (3 to 3.5)but a lot of purchases are, reportedly, falling through because the banks won't lend if anything is "wrong" with you or the house.

    The word in the press is that lending decisions are taking for ever! The feeling is that fixed rates (decided by the long-term swaps market) are currently very expensive. Against that, is the reminder that short-term interest rates (decided by the Bank of England) will have to rise sometime as the current situation is unwound. Probably just before Christmas - at the same time as VAT is hiked 2.5%!

    I am not yet bullish on property. There is a lot of pain to come in this market.

  11. Thanks. Was hoping for a multiple towards 3 or 4 but as you say there is still a lot of pain to come in the market and am not convinced by recent reports of the end of the falling property prices. Thanks again.

  12. Sixty

    Sixty LE Moderator Book Reviewer
    1. ARRSE Cyclists and Triathletes

    Was speaking to one of my team on Monday who had been offered 4 x joint salary with 20%.

    Can scout out the details on Monday if you like?
  13. That would be hugely helpful - thanks.
  14. I've been offered 3.5 times single income with a 15% deposit. If that helps.