Another big thanks to Sarnie
Discussion
The rumours are true, he is the best.
Back in March we sold our house, bought another. That house was a conversion, but had no PCC or warranty (oops). As such our lender refused to lend on it, and our mortgage chap quickly lost interest and said we should find another house.
So I emailed Liam (should have started with him but heyho) and he very quickly engaged with his contacts to see which would accept a retrospective warranty. Not many were keen, and coupled with myself being a Contractor, and an issue on my credit file (BMW Stockton, incompetent idiots) the options were not plentiful.
But we got to the AIP stage..............and then promptly pulled out of the purchase due to the seller being a complete tit over some covenants and accusing us of being the problem over the lack of a warranty. Dodged a bullet there as they would have been our neighbours!
Thankfully, we found an amazing place 3 days later and are soon to exchange contracts on that house.
Anyone considering using Liam, he's just one of those professional people that just gets it done, no crap, top top man.
Back in March we sold our house, bought another. That house was a conversion, but had no PCC or warranty (oops). As such our lender refused to lend on it, and our mortgage chap quickly lost interest and said we should find another house.
So I emailed Liam (should have started with him but heyho) and he very quickly engaged with his contacts to see which would accept a retrospective warranty. Not many were keen, and coupled with myself being a Contractor, and an issue on my credit file (BMW Stockton, incompetent idiots) the options were not plentiful.
But we got to the AIP stage..............and then promptly pulled out of the purchase due to the seller being a complete tit over some covenants and accusing us of being the problem over the lack of a warranty. Dodged a bullet there as they would have been our neighbours!
Thankfully, we found an amazing place 3 days later and are soon to exchange contracts on that house.
Anyone considering using Liam, he's just one of those professional people that just gets it done, no crap, top top man.
MOBB said:
The rumours are true, he is the best.
Back in March we sold our house, bought another. That house was a conversion, but had no PCC or warranty (oops). As such our lender refused to lend on it, and our mortgage chap quickly lost interest and said we should find another house.
So I emailed Liam (should have started with him but heyho) and he very quickly engaged with his contacts to see which would accept a retrospective warranty. Not many were keen, and coupled with myself being a Contractor, and an issue on my credit file (BMW Stockton, incompetent idiots) the options were not plentiful.
But we got to the AIP stage..............and then promptly pulled out of the purchase due to the seller being a complete tit over some covenants and accusing us of being the problem over the lack of a warranty. Dodged a bullet there as they would have been our neighbours!
Thankfully, we found an amazing place 3 days later and are soon to exchange contracts on that house.
Anyone considering using Liam, he's just one of those professional people that just gets it done, no crap, top top man.
Many thanks for the amazingly kind words, much appreciated!! Back in March we sold our house, bought another. That house was a conversion, but had no PCC or warranty (oops). As such our lender refused to lend on it, and our mortgage chap quickly lost interest and said we should find another house.
So I emailed Liam (should have started with him but heyho) and he very quickly engaged with his contacts to see which would accept a retrospective warranty. Not many were keen, and coupled with myself being a Contractor, and an issue on my credit file (BMW Stockton, incompetent idiots) the options were not plentiful.
But we got to the AIP stage..............and then promptly pulled out of the purchase due to the seller being a complete tit over some covenants and accusing us of being the problem over the lack of a warranty. Dodged a bullet there as they would have been our neighbours!
Thankfully, we found an amazing place 3 days later and are soon to exchange contracts on that house.
Anyone considering using Liam, he's just one of those professional people that just gets it done, no crap, top top man.
I'd echo all that has been said in this & other threads about Liam (Sarnie). He has helped us enormously and despite not completing the purchase (tip: do not entertain buying a house that has leased solar panels 
) we will be using him again when we eventually find something!
Thanks Liam
) we will be using him again when we eventually find something!Thanks Liam
This thread is of interest to us . Coming into the market sometime 2020 for the first time .
Few issues !
1. My age :56 and self employed . So have run the business to pay as little as possible out etc . But have had 2 bad years due to poor health . But I still am able to contribute to my wife .
2. Wife is a nurse and 40.
We are looking to get a Mortgage for roughly £165k . We have about 19-25k cash deposit .
Wife has been employed for 12 years with great credit history . Currently on 27K per year . I can add to her income with another £16k a year . The mortgage will be in her name . We have yet to approach a bank/business or a financial advisor like “Sarnie” etc .As I want to ensure we have all our ducks in a row etc . At this stage we would be really be grateful for all advice possible .
Few issues !
1. My age :56 and self employed . So have run the business to pay as little as possible out etc . But have had 2 bad years due to poor health . But I still am able to contribute to my wife .
2. Wife is a nurse and 40.
We are looking to get a Mortgage for roughly £165k . We have about 19-25k cash deposit .
Wife has been employed for 12 years with great credit history . Currently on 27K per year . I can add to her income with another £16k a year . The mortgage will be in her name . We have yet to approach a bank/business or a financial advisor like “Sarnie” etc .As I want to ensure we have all our ducks in a row etc . At this stage we would be really be grateful for all advice possible .
To the op...what do you mean by "adding to her income"? If you mean just giving her money to help the mortgage that will not work. There are a rare few mortgages that allow "joint borrower, sole occupier" which is a little misleading as they allow you to live there and your income to be used in support of the mortgage but you would still be credit scored, age taken in to account and credit history (score) take in to account so you may as well be on the deeds and mortgage.
Your income would be take as your taxable income, not what you can afford to contribute.
Your income would be take as your taxable income, not what you can afford to contribute.
I am happy not to be on the Mortgage application. If the relationship went bent .I would still want to contribute as my son will need a home and I could not be bothered to fight it out . I can arrange for my wife to have a second income fully legal. As I am owed a serious favour . This could be using my money but its arrives to her fully legally . But you cannot know what, we actually love each other and I could not see us parting (I know ,I know !). But I still could not have a situation where she the mother of our son is having to worry about a home for them etc . And this is why we are really focused on buying what we can afford . As after 10 years she could service the mortgage if I died etc .
I have a good rather than excellent credit history .Mainly due to not really ever having credit and been out of the UK a lot .
Once I have a few more “ducks in a row’ .I will get in contact with you Sarnie.
I have a good rather than excellent credit history .Mainly due to not really ever having credit and been out of the UK a lot .
Once I have a few more “ducks in a row’ .I will get in contact with you Sarnie.
Pinoyuk said:
I am happy not to be on the Mortgage application. If the relationship went bent .I would still want to contribute as my son will need a home and I could not be bothered to fight it out . I can arrange for my wife to have a second income fully legal. As I am owed a serious favour . This could be using my money but its arrives to her fully legally . But you cannot know what, we actually love each other and I could not see us parting (I know ,I know !). But I still could not have a situation where she the mother of our son is having to worry about a home for them etc . And this is why we are really focused on buying what we can afford . As after 10 years she could service the mortgage if I died etc .
I have a good rather than excellent credit history .Mainly due to not really ever having credit and been out of the UK a lot .
Once I have a few more “ducks in a row’ .I will get in contact with you Sarnie.
A mortgage lender would see this as mortgage fraud if you were to use your money to pay an income to your wife through a friends business.I have a good rather than excellent credit history .Mainly due to not really ever having credit and been out of the UK a lot .
Once I have a few more “ducks in a row’ .I will get in contact with you Sarnie.
Sarnie - I'm looking to move sometime next year, or as soon after the Brexit dust has settled.
1. What kind of multiples of income do you see? 5x income doable?
2. My wife doesn't work, should I pay her a small wage? Do the mortgage entirely in my name only? Or do it in both our names, with no contributions from the wife?
1. What kind of multiples of income do you see? 5x income doable?
2. My wife doesn't work, should I pay her a small wage? Do the mortgage entirely in my name only? Or do it in both our names, with no contributions from the wife?
Prizam said:
Sarnie - I'm looking to move sometime next year, or as soon after the Brexit dust has settled.
1. What kind of multiples of income do you see? 5x income doable?
2. My wife doesn't work, should I pay her a small wage? Do the mortgage entirely in my name only? Or do it in both our names, with no contributions from the wife?
1) Yes but it's not as simple as income multiples alone anymore, it depends on the LTV, affordability as well as a multitude of other things1. What kind of multiples of income do you see? 5x income doable?
2. My wife doesn't work, should I pay her a small wage? Do the mortgage entirely in my name only? Or do it in both our names, with no contributions from the wife?
2) It's almost impossible to answer this without having all the details to hand I'm afraid......
Thanks for the replies .
I understand the issue of “fraud” . But It can still work I believe .The job can be real. The taxes paid . My friend can work out “repayment “ with me . Its impossible for anyone to know . These days if the government is getting their cut and the mortgage gets paid.where is the issue ? .
Going back to the single /couple applicant question etc .Do companies feel safer dealing with a couple etc?
When you have a quick read over the forum.Many here might as well not been on the mortgage application ! They lost the lot anyway :-( . All I want is peace of mind so she can service the mortgage if I pass away etc .Making any form of claim would not happen . I could not be bothered to waste my time and would want what’s best for my son . Thanks
I understand the issue of “fraud” . But It can still work I believe .The job can be real. The taxes paid . My friend can work out “repayment “ with me . Its impossible for anyone to know . These days if the government is getting their cut and the mortgage gets paid.where is the issue ? .
Going back to the single /couple applicant question etc .Do companies feel safer dealing with a couple etc?
When you have a quick read over the forum.Many here might as well not been on the mortgage application ! They lost the lot anyway :-( . All I want is peace of mind so she can service the mortgage if I pass away etc .Making any form of claim would not happen . I could not be bothered to waste my time and would want what’s best for my son . Thanks
Pinoyuk said:
Thanks for the replies .
I understand the issue of “fraud” . But It can still work I believe .The job can be real. The taxes paid . My friend can work out “repayment “ with me . Its impossible for anyone to know . These days if the government is getting their cut and the mortgage gets paid.where is the issue ? .
Going back to the single /couple applicant question etc .Do companies feel safer dealing with a couple etc?
When you have a quick read over the forum.Many here might as well not been on the mortgage application ! They lost the lot anyway :-( . All I want is peace of mind so she can service the mortgage if I pass away etc .Making any form of claim would not happen . I could not be bothered to waste my time and would want what’s best for my son . Thanks
Lenders look out for things such as tax paid to date and earnings to date, if the job started 3 months before the application then it will look fishy...they are not stupid and they work in a highly regulated environment. It is not a matter of them getting their money and being happy. I understand the issue of “fraud” . But It can still work I believe .The job can be real. The taxes paid . My friend can work out “repayment “ with me . Its impossible for anyone to know . These days if the government is getting their cut and the mortgage gets paid.where is the issue ? .
Going back to the single /couple applicant question etc .Do companies feel safer dealing with a couple etc?
When you have a quick read over the forum.Many here might as well not been on the mortgage application ! They lost the lot anyway :-( . All I want is peace of mind so she can service the mortgage if I pass away etc .Making any form of claim would not happen . I could not be bothered to waste my time and would want what’s best for my son . Thanks
If you have a decent credit profile and some taxable income then your income can be added to hers and that helps the affordability modelling of the case. They do not feel safer with a couple, they can simply use the income.
Being on the mortgage or not does not really protect you from a Divorce, If the mother and child need a home then the court will often grant them more in a divorce case.
Excuse delay .
Thanks for all the answers .I fully understand the pitfalls in my “Plan” . I am trying to ensure we come in with at least 30% deposit with ease .To help fix terms and rates etc . Certain parts of life don’t go to plan .But to provide for my wife and son is my “end mission “ .
Thanks for all the answers .I fully understand the pitfalls in my “Plan” . I am trying to ensure we come in with at least 30% deposit with ease .To help fix terms and rates etc . Certain parts of life don’t go to plan .But to provide for my wife and son is my “end mission “ .
Pinoyuk said:
Excuse delay .
Thanks for all the answers .I fully understand the pitfalls in my “Plan” . I am trying to ensure we come in with at least 30% deposit with ease .To help fix terms and rates etc . Certain parts of life don’t go to plan .But to provide for my wife and son is my “end mission “ .
Why 30%? That's quite specific?Thanks for all the answers .I fully understand the pitfalls in my “Plan” . I am trying to ensure we come in with at least 30% deposit with ease .To help fix terms and rates etc . Certain parts of life don’t go to plan .But to provide for my wife and son is my “end mission “ .
Hi, Please excuse delay in replying . I just want to get as big as a deposit paid .To keep payments down. If anything happens to me . I want her to be able to deal with the monthly payment . I have £45k . So will keep this to cover fees and anything we might have to spend on the house immediately etc .
There is no doubt you seem to get good feedback :-)
I am going to be employed soon. .so come application for a mortgage .I will be able to show 14 months employment . It all makes sense to do it this way .Then both of us can provide what ever needed .This stems from advice given here . What will both of us be asked to provide and prove etc?
We both are UK residents.I am English and why wife British with Passport etc . I will cease to be self employed late November . And move into full time employment .My wife has a very secure job and has been with them for 10 years . We OWE Nothing to anyone . I thank you for your time .
There is no doubt you seem to get good feedback :-)
I am going to be employed soon. .so come application for a mortgage .I will be able to show 14 months employment . It all makes sense to do it this way .Then both of us can provide what ever needed .This stems from advice given here . What will both of us be asked to provide and prove etc?
We both are UK residents.I am English and why wife British with Passport etc . I will cease to be self employed late November . And move into full time employment .My wife has a very secure job and has been with them for 10 years . We OWE Nothing to anyone . I thank you for your time .
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