Mortgages with Sarnie
Discussion
We are just about to complete on our place, I probably wont have time or remember to type this up then so I'll do it now again. Another mortgage with Sarnie, slightly complex as we had to port some of our existing product and dick about because my wife is a contractor. Sarnie was great, dealt with all the hassle and ballache that comes with it and even replied to an email while is out of office was on. Thanks again bud, I really do owe you many beers 
Sarnie, I may require your help if you are able to take work? However I am going to try with my existing provider tomorrow, so I’ll maybe give you a ping after the bank holiday.
One question (maybe a silly one). My wife has a small business, turning over <£30k per annum. She only works 1 or 2 days a week, it’s something scalable but we have a 9 month old just now, so she’s just doing it when I’m around for childcare etc.
We can get the mortgage we need with my salary alone and adding her income on to the mortgage seems like hassle and a waste of time as they require 3 years accounts blah blah. Is it OK to put her down as unemployed? Or is that naughty in the eyes of the financial regs?
One question (maybe a silly one). My wife has a small business, turning over <£30k per annum. She only works 1 or 2 days a week, it’s something scalable but we have a 9 month old just now, so she’s just doing it when I’m around for childcare etc.
We can get the mortgage we need with my salary alone and adding her income on to the mortgage seems like hassle and a waste of time as they require 3 years accounts blah blah. Is it OK to put her down as unemployed? Or is that naughty in the eyes of the financial regs?
ColdoRS said:
Sarnie, I may require your help if you are able to take work? However I am going to try with my existing provider tomorrow, so I’ll maybe give you a ping after the bank holiday.
One question (maybe a silly one). My wife has a small business, turning over <£30k per annum. She only works 1 or 2 days a week, it’s something scalable but we have a 9 month old just now, so she’s just doing it when I’m around for childcare etc.
We can get the mortgage we need with my salary alone and adding her income on to the mortgage seems like hassle and a waste of time as they require 3 years accounts blah blah. Is it OK to put her down as unemployed? Or is that naughty in the eyes of the financial regs?
You can apply with her as a house person but she will be seen as financially dependent on you which could lower the max affordability model.One question (maybe a silly one). My wife has a small business, turning over <£30k per annum. She only works 1 or 2 days a week, it’s something scalable but we have a 9 month old just now, so she’s just doing it when I’m around for childcare etc.
We can get the mortgage we need with my salary alone and adding her income on to the mortgage seems like hassle and a waste of time as they require 3 years accounts blah blah. Is it OK to put her down as unemployed? Or is that naughty in the eyes of the financial regs?
You only need to supply 2 years tax computations and corresponding tax yr overviews to show her net profit, shouldn’t be too hard to do.
(I am a broker but not trying to nick Sarnies work)
ColdoRS said:
Sarnie, I may require your help if you are able to take work? However I am going to try with my existing provider tomorrow, so I’ll maybe give you a ping after the bank holiday.
One question (maybe a silly one). My wife has a small business, turning over <£30k per annum. She only works 1 or 2 days a week, it’s something scalable but we have a 9 month old just now, so she’s just doing it when I’m around for childcare etc.
We can get the mortgage we need with my salary alone and adding her income on to the mortgage seems like hassle and a waste of time as they require 3 years accounts blah blah. Is it OK to put her down as unemployed? Or is that naughty in the eyes of the financial regs?
As Caddyshack said, there is no issue with putting her as House person to simplify the application but then she will be added as an additional financial dependent (you can't have it both ways) which is fine if your sole income is sufficient to absorb the reduction in lending.......naturally it all depends on all of the numbers at play.One question (maybe a silly one). My wife has a small business, turning over <£30k per annum. She only works 1 or 2 days a week, it’s something scalable but we have a 9 month old just now, so she’s just doing it when I’m around for childcare etc.
We can get the mortgage we need with my salary alone and adding her income on to the mortgage seems like hassle and a waste of time as they require 3 years accounts blah blah. Is it OK to put her down as unemployed? Or is that naughty in the eyes of the financial regs?
geeks said:
We are just about to complete on our place, I probably wont have time or remember to type this up then so I'll do it now again. Another mortgage with Sarnie, slightly complex as we had to port some of our existing product and dick about because my wife is a contractor. Sarnie was great, dealt with all the hassle and ballache that comes with it and even replied to an email while is out of office was on. Thanks again bud, I really do owe you many beers
Always a pleasure Dan! 
Hi Sarnie
I am hoping you can help a man in need if possible ?
We have our remortgage due next month. Ideally we would like to take some money out for some home improvements but I am not sure if we have the equity yet or if it is worth us saving up for this over the next 2-5 years ? Is it better to borrow against the house now while prices are up and borrowing is low ?
Also our current mortgage repayment is roughly £1200 a month
for a 2 year fix @ 2.94% our new costs will be £1413
For a 5 year fix @ 2.99% our new cost will be £1424
The monthlies don't really change so would we be better at fixing for 5 years at that rate ?
Thanks
Feel free to PM if you need to know any more private details
I am hoping you can help a man in need if possible ?
We have our remortgage due next month. Ideally we would like to take some money out for some home improvements but I am not sure if we have the equity yet or if it is worth us saving up for this over the next 2-5 years ? Is it better to borrow against the house now while prices are up and borrowing is low ?
Also our current mortgage repayment is roughly £1200 a month
for a 2 year fix @ 2.94% our new costs will be £1413
For a 5 year fix @ 2.99% our new cost will be £1424
The monthlies don't really change so would we be better at fixing for 5 years at that rate ?
Thanks
Feel free to PM if you need to know any more private details
Brummiebeau said:
Hi Sarnie
I am hoping you can help a man in need if possible ?
We have our remortgage due next month. Ideally we would like to take some money out for some home improvements but I am not sure if we have the equity yet or if it is worth us saving up for this over the next 2-5 years ? Is it better to borrow against the house now while prices are up and borrowing is low ?
Also our current mortgage repayment is roughly £1200 a month
for a 2 year fix @ 2.94% our new costs will be £1413
For a 5 year fix @ 2.99% our new cost will be £1424
The monthlies don't really change so would we be better at fixing for 5 years at that rate ?
Thanks
Feel free to PM if you need to know any more private details
Obviously Sarnie's thread and Sarnie knows I am a broker but won't step on his toes.I am hoping you can help a man in need if possible ?
We have our remortgage due next month. Ideally we would like to take some money out for some home improvements but I am not sure if we have the equity yet or if it is worth us saving up for this over the next 2-5 years ? Is it better to borrow against the house now while prices are up and borrowing is low ?
Also our current mortgage repayment is roughly £1200 a month
for a 2 year fix @ 2.94% our new costs will be £1413
For a 5 year fix @ 2.99% our new cost will be £1424
The monthlies don't really change so would we be better at fixing for 5 years at that rate ?
Thanks
Feel free to PM if you need to know any more private details
Nobody knows what rates will do but I take it as an indicator that the people setting the rates are selling the 5 yr money very close to 2 yr money so in very simple terms they do not think rates will continue to climb much after 2 yrs...it is the 2 yr that has the volatility.
I think that there is a chance that lenders have raised their margins whilst the bank rate has been on the rise to make profit and as they have stayed busy they have not had to compete...we need a downward price war but nobody needs or wants to start it yet. If the ramblings of this fool are correct then you may fix for too long and too high on a 5 yr fixed but equally rates could continue to climb and the 5 yr is wise. A broker doesn't advise what rates will do as they do not know, we can only say who has the best deal on the day for your given circumstances.
If you do have the equity and want the money then go for it. You will enjoy the improvements for longer if you start them sooner.
Edited by Caddyshack on Tuesday 5th July 16:13
Brummiebeau said:
Thanks Caddy, all seems fair.
I would love to take the money out as I think house prices by us (Solihull) are crazy at the moment but it's whether lenders will let us have 90% LTV
I don't plan to move ever, let along in 2/5 years so I'm not afraid of fixing for longer.
You would need the broker to check which lenders will allow a capital raise to 90%...many will have a cap at 85% etc...I would love to take the money out as I think house prices by us (Solihull) are crazy at the moment but it's whether lenders will let us have 90% LTV
I don't plan to move ever, let along in 2/5 years so I'm not afraid of fixing for longer.
Benspickup said:
Hopefully I am posting this in the correct and relevant thread.
Has anyone had any experience of getting a mortgage when self employed. Any advice greatly recieved
I found you needed to have been self employed for 2 years to get a mortgage with not much hassle. When we tried earlier than that, the options were pretty poor. After 2 years though, I didn't find much different than being PAYE. Has anyone had any experience of getting a mortgage when self employed. Any advice greatly recieved
Benspickup said:
Hopefully I am posting this in the correct and relevant thread.
Has anyone had any experience of getting a mortgage when self employed. Any advice greatly recieved
I'd probably say that we have more self employed clients than PAYE clients.....feel free to drop me a line or give me a call if you want a chat? Has anyone had any experience of getting a mortgage when self employed. Any advice greatly recieved
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