Getting a mortgage these days

[foliedouce]

It's been a while since I've taken a mortgage, however I will be in the market for one in Jan 16

I have heard lots of horror stories about how long it takes to get one with the new regulations, so my questions are:-

How long does it take to set up? If I want to complete on 2nd Jan, when should I apply? My income is from multiple (4) sources and consists of LLP (self employed), employed PAYE salary and dividends

Is there a benefit to using an 'advisor'? I have always sorted it out myself as I'm a used to work in Retail Banking 15 years ago and it's not rocket science, but the landscape does seem to have changed.

Many thanks

[foliedouce]

Thanks - what are Sarnie's costs?

What sort of horror stories? Is it people that have been unrealistic with LTV / income in the first place? Neither of those would apply to my case.

I've always applied directly based on the best deal found online and never had an issue, but as I say I don't fully understand the new regs.

[foliedouce]

Interesting - just did a quick 'how much can I borrow' application on Nationwide. Apparently not even 1 x income....ummmmmm and I zero debt

[foliedouce]

Sarnie said:

Are you saying that Nationwide stated that they would only go up to a figure equal to 1x your annual income?

I assume thats not enough??

Yes, I have sent you an email