Mortgage Advisor Knowledge

[BOVEM]

In the current climate, my mortgage broker is closed down until lockdown ends, and I'm on the "call back" list for a few others I've found online.
In the meantime, are there any mortgage advisors here (or folks who've done this themselves) who could offer me a steer?

I'm trying to navigate the following situation:

> I own a cottage worth circa 225k
> mortgage on it is 155k
> employment income is 75k per annum
> savings in the bank currently around 50k

I am relocating for work and I want to do one of the following things:

Option 1 > set the cottage up as a holiday let and rent out a property to live in that is near to my work

Option 2 > sell the cottage and buy somewhere near to my work

I would prefer option 1, but obviously there are a lot of things I'd need to take advice and guidance on. And if I went for option 2 I guess the main question I want answered is what kind of budget would it allow me for the next purchase.

I will be ringing around today to get more advice, but I thought it was worth a post on here too.

[sociopath]

Sarnie is your man on here

[BOVEM]

sociopath said:

Sarnie is your man on here

Thank for the heads up - I appreciate it.

[Sarnie]

sociopath said:

Sarnie is your man on here

Much appreciated!

Business as usual here OP, feel free to drop me a line!

[BOVEM]

Sarnie said:

sociopath said:

Sarnie is your man on here

Much appreciated!

Business as usual here OP, feel free to drop me a line!

Email (via your web form) sent!

[Geffg]

Is it better to go through a broker when remortgaging if it’s just a remortgage nothing extra needed?
Do they get better deals etc?

[BOVEM]

Geffg said:

Is it better to go through a broker when remortgaging if it’s just a remortgage nothing extra needed?
Do they get better deals etc?

I think I need to move from a residential mortgage to a holiday let one, for option 1 on my list.

[JulianPH]

Geffg said:

Is it better to go through a broker when remortgaging if it’s just a remortgage nothing extra needed?
Do they get better deals etc?

Yes, it usually is.

They get access to deals you cannot get yourself.

Basically, the regulations have been made so strict that most lenders add a premium for direct clients and give a discount to brokered clients.

This is not my area and Sarnie can explain it far better than I could, but just a summary.

[dalenorth]

Yep, Sarnie is your resident expert on here

[Sarnie]

BOVEM said:

In the current climate, my mortgage broker is closed down until lockdown ends, and I'm on the "call back" list for a few others I've found online.
In the meantime, are there any mortgage advisors here (or folks who've done this themselves) who could offer me a steer?

I'm trying to navigate the following situation:

> I own a cottage worth circa 225k
> mortgage on it is 155k
> employment income is 75k per annum
> savings in the bank currently around 50k

I am relocating for work and I want to do one of the following things:

Option 1 > set the cottage up as a holiday let and rent out a property to live in that is near to my work

Option 2 > sell the cottage and buy somewhere near to my work

I would prefer option 1, but obviously there are a lot of things I'd need to take advice and guidance on. And if I went for option 2 I guess the main question I want answered is what kind of budget would it allow me for the next purchase.

I will be ringing around today to get more advice, but I thought it was worth a post on here too.

OP, nothing received...….

You can mail me directly