Discussion
Sorry if this has already been covered but we are hoping to apply for a mortgage but there's a slight snag.
My girlfriend was made a partner at her vet practice last year and has been told by the mortgage company that she needs to show 2 years of accounts before they will consider our application. If that is the case then we will have to wait until the 2016/17 accounts are in before we can proceed.
She was told that up until a few years ago the mortgage company would have been able to consider past accounts as the business has been established for 30 years. Now though things have been tightened up and the accounts shown have to reflect her time as partner.
Can anyone with more experience in this field confirm whether this is the case universally, or are there lenders out there who have different criteria.
Thanks!
My girlfriend was made a partner at her vet practice last year and has been told by the mortgage company that she needs to show 2 years of accounts before they will consider our application. If that is the case then we will have to wait until the 2016/17 accounts are in before we can proceed.
She was told that up until a few years ago the mortgage company would have been able to consider past accounts as the business has been established for 30 years. Now though things have been tightened up and the accounts shown have to reflect her time as partner.
Can anyone with more experience in this field confirm whether this is the case universally, or are there lenders out there who have different criteria.
Thanks!
24lemons said:
Sorry if this has already been covered but we are hoping to apply for a mortgage but there's a slight snag.
My girlfriend was made a partner at her vet practice last year and has been told by the mortgage company that she needs to show 2 years of accounts before they will consider our application. If that is the case then we will have to wait until the 2016/17 accounts are in before we can proceed.
She was told that up until a few years ago the mortgage company would have been able to consider past accounts as the business has been established for 30 years. Now though things have been tightened up and the accounts shown have to reflect her time as partner.
Can anyone with more experience in this field confirm whether this is the case universally, or are there lenders out there who have different criteria.
Thanks!
Are the 2015-16 accounts done? My girlfriend was made a partner at her vet practice last year and has been told by the mortgage company that she needs to show 2 years of accounts before they will consider our application. If that is the case then we will have to wait until the 2016/17 accounts are in before we can proceed.
She was told that up until a few years ago the mortgage company would have been able to consider past accounts as the business has been established for 30 years. Now though things have been tightened up and the accounts shown have to reflect her time as partner.
Can anyone with more experience in this field confirm whether this is the case universally, or are there lenders out there who have different criteria.
Thanks!
If so, then you have a chance with a small number of lenders, but most will default to the "we require two years self-employed income details before we can consider you"..............
Sarnie said:
Are the 2015-16 accounts done?
If so, then you have a chance with a small number of lenders, but most will default to the "we require two years self-employed income details before we can consider you"..............
Yeah, the 2015/16 accounts came back a week or two ago. I think we need to speak to a broker or even Bovis homes, who we are hoping to buy from, to see what options there are. I dont want to get my hopes up too much in case the two year thing is a universally observed policy.If so, then you have a chance with a small number of lenders, but most will default to the "we require two years self-employed income details before we can consider you"..............
24lemons said:
Yeah, the 2015/16 accounts came back a week or two ago. I think we need to speak to a broker or even Bovis homes, who we are hoping to buy from, to see what options there are. I dont want to get my hopes up too much in case the two year thing is a universally observed policy.
I'm a broker 
walm said:
Use Sarnie.
It's almost the only thing everyone on PH agrees with!
I dont. It's almost the only thing everyone on PH agrees with!
I used Sarnie, he took my fee, was unable to sort anything and then stopped returning my calls.
I used another broker- mortgage approved in 2 hrs - with the same lender Sarnie claimed to be using!
Sarnie talks a good talk but is no better than Compare the market.
ex1 said:
I dont.
I used Sarnie, he took my fee, was unable to sort anything and then stopped returning my calls.
I used another broker- mortgage approved in 2 hrs - with the same lender Sarnie claimed to be using!
Sarnie talks a good talk but is no better than Compare the market.
Errrrmm!!!I used Sarnie, he took my fee, was unable to sort anything and then stopped returning my calls.
I used another broker- mortgage approved in 2 hrs - with the same lender Sarnie claimed to be using!
Sarnie talks a good talk but is no better than Compare the market.
I've no idea who you are but if you are who I think you are then then you know full well that the lender declined your full application after accepting your AIP, which is not my fault. I was working on a resolution with that lender and a new one, you were impatient and went elsewhere. I can't legislate for what you did after but I certainly did not stop answering your calls or mails, in fact having spent an inordinate amount of time finding you a replacement lender, it was me chasing you with a proposed offering that you revealed that you'd gone elsewhere.
There will be dozens if not hundreds of people on here who will testify to my communication OCD, receiving mails from me at 6am, midnight and even from my family holiday. I would not and did not stop taking your calls. Unfortunately, not every single application completes, sometime the lenders don't like the details when they get them in full, valuations scupper applications, vendors pull out etc. But again, there will be plenty of people of here that I've done mortgages for, where we've had a problem with a lender or a purchase has fallen through, and I have happily started from scratch and found them a replacement product and lender, without wanting or expecting them to pay any further fees, which is exactly what I was doing for you, but you didn't want to wait.
Anyway, glad you got sorted in the end.
Sarnie said:
Errrrmm!!!
I've no idea who you are but if you are who I think you are then then you know full well that the lender declined your full application after accepting your AIP, which is not my fault. I was working on a resolution with that lender and a new one, you were impatient and went elsewhere. I can't legislate for what you did after but I certainly did not stop answering your calls or mails, in fact having spent an inordinate amount of time finding you a replacement lender, it was me chasing you with a proposed offering that you revealed that you'd gone elsewhere.
There will be dozens if not hundreds of people on here who will testify to my communication OCD, receiving mails from me at 6am, midnight and even from my family holiday. I would not and did not stop taking your calls. Unfortunately, not every single application completes, sometime the lenders don't like the details when they get them in full, valuations scupper applications, vendors pull out etc. But again, there will be plenty of people of here that I've done mortgages for, where we've had a problem with a lender or a purchase has fallen through, and I have happily started from scratch and found them a replacement product and lender, without wanting or expecting them to pay any further fees, which is exactly what I was doing for you, but you didn't want to wait.
Anyway, glad you got sorted in the end.
I think you might be confusing me with another unhappy customer.I've no idea who you are but if you are who I think you are then then you know full well that the lender declined your full application after accepting your AIP, which is not my fault. I was working on a resolution with that lender and a new one, you were impatient and went elsewhere. I can't legislate for what you did after but I certainly did not stop answering your calls or mails, in fact having spent an inordinate amount of time finding you a replacement lender, it was me chasing you with a proposed offering that you revealed that you'd gone elsewhere.
There will be dozens if not hundreds of people on here who will testify to my communication OCD, receiving mails from me at 6am, midnight and even from my family holiday. I would not and did not stop taking your calls. Unfortunately, not every single application completes, sometime the lenders don't like the details when they get them in full, valuations scupper applications, vendors pull out etc. But again, there will be plenty of people of here that I've done mortgages for, where we've had a problem with a lender or a purchase has fallen through, and I have happily started from scratch and found them a replacement product and lender, without wanting or expecting them to pay any further fees, which is exactly what I was doing for you, but you didn't want to wait.
Anyway, glad you got sorted in the end.
I left it will you for nearly 3mths before I became "impatient" and went to someone who knew what they were talking about.
I understand how it all works I just felt you didn't add anything to the process. You gave me the impression you had insight into different lenders criteria and that proved not to be the case.
ex1 said:
I think you might be confusing me with another unhappy customer.
I left it will you for nearly 3mths before I became "impatient" and went to someone who knew what they were talking about.
I understand how it all works I just felt you didn't add anything to the process. You gave me the impression you had insight into different lenders criteria and that proved not to be the case.
I'm not confusing you with anyone.I left it will you for nearly 3mths before I became "impatient" and went to someone who knew what they were talking about.
I understand how it all works I just felt you didn't add anything to the process. You gave me the impression you had insight into different lenders criteria and that proved not to be the case.
You didn't leave it for 3 months at all. In fact, having gone through my records it shows that I did actually submit this to the second lender, who declined you as well. I sent you a third proposal and mailed you every three days for two weeks till you eventually replied saying "Sorry for not getting back to you sooner" and that you'd gone elsewhere. So your comment that I took your payment and "stopped answering your calls"....is simply not true.
I can't help it if you failed the credit score. I was more than happy to keep trying as some lenders are more open to applications than others, as I told you, but you didn't want to wait for me to get to one of those lenders.
Good luck with it!
Sarnie said:
I'm not confusing you with anyone.
You didn't leave it for 3 months at all. In fact, having gone through my records it shows that I did actually submit this to the second lender, who declined you as well. I sent you a third proposal and mailed you every three days for two weeks till you eventually replied saying "Sorry for not getting back to you sooner" and that you'd gone elsewhere. So your comment that I took your payment and "stopped answering your calls"....is simply not true.
I can't help it if you failed the credit score. I was more than happy to keep trying as some lenders are more open to applications than others, as I told you, but you didn't want to wait for me to get to one of those lenders.
Good luck with it!
You are quite right it was nearer 4mths. The only time you contacted me every 3 days was to prior to your fee being paid! You didn't leave it for 3 months at all. In fact, having gone through my records it shows that I did actually submit this to the second lender, who declined you as well. I sent you a third proposal and mailed you every three days for two weeks till you eventually replied saying "Sorry for not getting back to you sooner" and that you'd gone elsewhere. So your comment that I took your payment and "stopped answering your calls"....is simply not true.
I can't help it if you failed the credit score. I was more than happy to keep trying as some lenders are more open to applications than others, as I told you, but you didn't want to wait for me to get to one of those lenders.
Good luck with it!
FYI you still haven't replied to my last email
The broker I ended up using got an API within 24hrs with the same lender and didn't want paying until he had actually done something, unlike yourself.
IMO a broker should offer some insight into the lenders criteria and be able to add some value to the process. You seem to offer little more than a market comparison site and actually made the process more difficult by adding an additional layer of unnecessary BS.
Obviously some people are happy to pay for a compare the market type service and I am sure you have lots of happy customers who don't have the time to do things themselves I am just not one of them.
ex1 said:
You are quite right it was nearer 4mths. The only time you contacted me every 3 days was to prior to your fee being paid!
FYI you still haven't replied to my last email
The broker I ended up using got an API within 24hrs with the same lender and didn't want paying until he had actually done something, unlike yourself.
IMO a broker should offer some insight into the lenders criteria and be able to add some value to the process. You seem to offer little more than a market comparison site and actually made the process more difficult by adding an additional layer of unnecessary BS.
Obviously some people are happy to pay for a compare the market type service and I am sure you have lots of happy customers who don't have the time to do things themselves I am just not one of them.
Ok.FYI you still haven't replied to my last email
The broker I ended up using got an API within 24hrs with the same lender and didn't want paying until he had actually done something, unlike yourself.
IMO a broker should offer some insight into the lenders criteria and be able to add some value to the process. You seem to offer little more than a market comparison site and actually made the process more difficult by adding an additional layer of unnecessary BS.
Obviously some people are happy to pay for a compare the market type service and I am sure you have lots of happy customers who don't have the time to do things themselves I am just not one of them.
I'm not going to respond further as most of the above is either incorrect, exaggeration or downright lies. There are plenty of people out there who will also confirm that I've gone above and beyond for them, replying to mails late at night and all over the weekend and whilst being on holiday even. And as for being no more than a comparison site, if that was the case, I wouldn't have been trading in this industry since 2002. The vast majority of my clients come to me having already been turned down by their bank or lenders they found on comparison sites and it's my experience that has made it possible for me to help them, something you can't get from looking at lists of lenders and rates online.
I won't air YOUR dirty laundry in public as to why your applications were declined, but I'm sorry it didn't work out but if you had an issue you could have contacted me at any time in the last 18 months and I would have been happy to talk.
Edited by Sarnie on Wednesday 21st September 16:29
ex1 said:
IMO a broker should offer some insight into the lenders criteria and be able to add some value to the process.
For some very plain vanilla style mortgages it's nigh on impossible for a broker to add value.In fact, some products are even out of their reach!
(I had a First Direct offset and HSBC mortgage in the past, both of which Sarnie explained he couldn't match because they were direct-only.)
Where broker expertise becomes invaluable is when you are slightly out of the mainstream.
For example, if you are self-employed with limited trading history such as the OP's GF and in my case a while back.
In these cases, the ability for a broker to cut through several applications and approach only those underwriters with a good chance of success can save huge amounts of time and hassle.
Furthermore it can open up LOADS more potential products that a compare-the-market style search won't find as the "computer says no" filter can be too aggressive on the non-mainstream.
Sarnie said:
Ok.
I'm not going to respond further as most of the above is either incorrect, exaggeration or downright lies. There are plenty of people out there who will also confirm that I've gone above and beyond for them, replying to mails late at night and all over the weekend and whilst being on holiday even. And as for being no more than a comparison site, if that was the case, I wouldn't have been trading in this industry since 2002. The vast majority of my clients come to me having already been turned down by their bank or lenders they found on comparison sites and it's my experience that has made it possible for me to help them, something you can't get from looking at lists of lenders and rates online.
I won't air YOUR dirty laundry in public as to why your applications were declined, but I'm sorry it didn't work out but if you had an issue you could have contacted me at any time in the last 18 months and I would have been happy to talk.
Oh go on Sarnie I like dirty linenI'm not going to respond further as most of the above is either incorrect, exaggeration or downright lies. There are plenty of people out there who will also confirm that I've gone above and beyond for them, replying to mails late at night and all over the weekend and whilst being on holiday even. And as for being no more than a comparison site, if that was the case, I wouldn't have been trading in this industry since 2002. The vast majority of my clients come to me having already been turned down by their bank or lenders they found on comparison sites and it's my experience that has made it possible for me to help them, something you can't get from looking at lists of lenders and rates online.
I won't air YOUR dirty laundry in public as to why your applications were declined, but I'm sorry it didn't work out but if you had an issue you could have contacted me at any time in the last 18 months and I would have been happy to talk.
Edited by Sarnie on Wednesday 21st September 16:29
I think your reputation on here speaks for itself, all the above also shows what nonsense an AIP is, alas as an estate agent (how could I sink so low)Vendors always want to know. If angry of wherever it was failed due to bad credit history shirley not the sort of person you want to deal with. RElax and remember that in the modern world every set back is never one's own fault always someone else to blame
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