James kicked Mortgage adviser butt and its all sorted :-)

[Geordie&Bairn]

I AM SO P***** of im seeing red
we may lose the house the mortgage adiviers we have have sent out forms demanding we get policies we have asked for

james tells me hes NOT asked for them and we dont need them and dont want them


they have said we HAVE to have a Will as were not married as far as james knows this is b******

they say we have to have 4 other things and have said we asked for them james said hes hasnt asked for them and even said no to some of them. There things that can be added on but as far as we know you don't NEED them but thier mking out like we do (bullying us into parting wth more money)


Hes getting more and more angry with them they have demanded credit checks we've already had one of those thier messing us about taking our money demanding more and still we have no mortage deal They say James has a huge direct debit coming out each month (THAT HE DID NOT CLAIM TO HAVE PREVIOULSY) that will mean he cant afford the loan repayments James says he has NO extra direct debits coming out as they are stating
Hes in a huge argument with them as they say he has to get the bank to PROVE what he says id true that he hasnt got this direct debit Hes say the bank statements he had to provide show he hasnt got a direct debit
James has no idea what the hell their up to or why their doing this to us its beyond rediclous They say we can not move any further forward till this is sorted

one minute we have it all settled then they throw something else at us thier taking the p*** trying to bleed us dry
if this keeps up well have nothing left

the mortgage adivsers banks/lenders and solcitors are all being compleate arses i hate the lots of them
weve already had 3 mortgage lenders pull out on us due to only haveing a 10% deposits they demanded a further £5000 we dont have that so they pulled out on us
We had to lower our offer on the house to increase the deposit the sellers were furious but excepted this as they need a quick sale

now weve got another Mortgage (though the paper work weve had says the mortgage is not legaly binding yet )
There asking for £260 for us to sign a declaration form, to be honest the whole things is a nightmare to understand
weve had the survey done paid for this solcitors have taken a huge chunk out of our savings
but the advisers and lenders are messing us about

james is at the end of his teather with them saying hes asked for things, someone acting on his behalf has sorted out a will for him and now thier demanding £200 for it James said NO to it

£50 of this goes to the people who reccomended the Will company guess who yep the mortgage adivsers

im fuming they have seriously worded things in a blackmailing threating to pull on us HAVE to have it bulling way and it stinks

do all mortgage adviers lenders solicitors behave like this

all we want it to purchase a mortgage not all this other c*** thier thrown at us


its all so confusing


all i want is a home

HELP those who have been through this before please adivce on how to get through all the jargon
James is getting very angry with them all behaving like this and is saying he may pull out all together as he feels thier taking are money and doing nothing for us in return taking our cash but still we have no certanty that we will keep the mortgage with the bank
its stressing me out big time

 

[Slinky Sarah]

Oh hun i have no idea about mortgages but i know why they are doing it. They dont want to lend anything to anyone right now with how shit the market is

As them where it states in the original contracts etc you signed that the products HAVE to be got. With the will, use a DIY kit. Its still legally binding if you go through a solicitor as far as i know, You can get them from the post office and the like.

Just stay calm hun, dont get yourself all worked up ok. If (and i honestly hope it doesnt) it does fall through, dont panic. With how the housing market is going, the prices are gonna keep falling and falling and you may end up with a better house, or even that one cheaper.

Keep calm hun

 

[CoreysMummy]

Urgh!! Im sorry to hear that you are having such a time of it hun!!!

Trouble at the moment is no one wants to/can afford to lend. 10% is a fair deposit. Go back one year, and you didnt need a deposit at all!! Its just how it is at the moment.

Now, most mortgages you do not NEED to have a will in place. BUT Mtg companys are trying to cover their own arses, and dont want to be left with you defalting and having a house thats worth less than they lent you... they want someone to be acountable for the payments. It is possible that the mtg company will not lend unless there is a mtg in place, I know its expencive, but there may be nothing you can do there.

You will find, conveyanceing (solicitors) are slow... it seems nothing is urgent, and they just plod along in their own time! Theres nothing you can do there except keep on their backs!

I sounds like it is the met lender that has the problem not the broker, remember the broker gets no/very little money until you take out the mtg and move into your place. If you dont do that, they dont get the 700-1000 quid from the mtg lender. It is in their interest to get you a mtg asap without all this faffing about. I dont know what or why you have to sign a declaration form? I dont know what thats for... or why it would cost money!

You can always call me with more details hun, or get James to if he knows more, and I may well beable to explain more of it to you guys. But it sounds very much like the Lender/s are being very very cautious about lending, there may be nothing you can do if you want this house and mtg. Your kind of stuck just going along with them!!

 

[Hazel]

I had trouble with a mortgage advisor a few years back. I dealt with the bank direct so cut out the mortgage advisor so didn't have to pay his fee. We had to have a thing written into the mortgage as to what happens if DH or I die so that was a will of sorts .

We're moving and want a bigger mortgage and was told we had to have 25% deposit which luckily we have.

 

[Jen & Her Men]

First of all big its hard enough dealing with mortgages at the best of times, never mind in this current climate.

Its just as Coreys Mummy said im afraid, the only bit of advice i can add is that if i were you i would find out which credit reference agency they used to run the credit check (usually Experian) and then go to experian to get your credit report. This will give you a list of all the credit against your name. We had to do this as exactly the same thing happened to us where the lender was saying that we had more debt than we did - turns out there were a couple of credit cards on there that had 0 balance but that doesnt show on the report, only that you have that credit card iykwim. SO in the case of james and the huge DD, it could be sommat as simple as one he had a while ago that for whatever reason has not shown as completed on the report.

Its important you get this cos whenever you get a check done the same thing will happen. Worst case scenario there could be a mistake and James is listed as having this DD, so its important to know what your credit file says to ensure such errors are not there cos it can be quite damaging...

Anyways, as for the rest of it, so sorry you have to jump through so many hoops - it really is a bloody minefield. Just keep in your head why your doing it and every problem solved brings you one step closer to living together as a family again.

(And Im gonna come over to your house and your gonna teach me the Thriller dance!!! )

Good luck chick

 

[Jen & Her Men]

First of all big its hard enough dealing with mortgages at the best of times, never mind in this current climate.

Its just as Coreys Mummy said im afraid, the only bit of advice i can add is that if i were you i would find out which credit reference agency they used to run the credit check (usually Experian) and then go to experian to get your credit report. This will give you a list of all the credit against your name. We had to do this as exactly the same thing happened to us where the lender was saying that we had more debt than we did - turns out there were a couple of credit cards on there that had 0 balance but that doesnt show on the report, only that you have that credit card iykwim. SO in the case of james and the huge DD, it could be sommat as simple as one he had a while ago that for whatever reason has not shown as completed on the report.

Its important you get this cos whenever you get a check done the same thing will happen. Worst case scenario there could be a mistake and James is listed as having this DD, so its important to know what your credit file says to ensure such errors are not there cos it can be quite damaging...

Anyways, as for the rest of it, so sorry you have to jump through so many hoops - it really is a bloody minefield. Just keep in your head why your doing it and every problem solved brings you one step closer to living together as a family again.

(And Im gonna come over to your house and your gonna teach me the Thriller dance!!! )

Good luck chick

 

[nori]

I have never heard of a mortgage company saying you have to have a will.. life insurance maybe but a will has nothing to do with them! I would contact the mortgage provider direct and cut out the crappy mortgage advisor. Im glad im not having to get on the property ladder in this climate, sounds like they are a nightmare! Saying that my fixed rate comes up for renewal next april so i may have a nightmare too!

Good luck!

Claire x

 

[Urchin]

Cut them out and go straight to the company who have offered you the mortgage.
You can do a will online for like £20 I think.

I really need to do one

 

[Tillytots]

get James to go to the bank and print out what DD's he has set up on his account. If there is any on there that arent current then get them cancelled. I know on my account I had about 5 DD's flagging on my account that were from old mobile phone insurance so I regulary update my bank so its not on my Credit Check

xxx

 

[LisaJ1986]

I went through a mortgage advisor and didn't have a will! We weren't even offered one.

The thing is with the advisors they throw in loads of things. I had one and he was friends with my dad. He went round his house one night, told us to bring so much i.d and wage slips, sign here, and off he went! We had no idea what we'd signed but we trusted him coz he was friends with my dad. As far as we were aware we had paid for buildings and contents and unemployment insurance through our mortgage company but when we got our 2 year renewal we had nothing of the sort!

I'd skip passed the advisors and go straight to the lenders. There's no advisor fees etc.

Oh well, in 8 weeks time i'll no longer have a mortgage.

 

[Suzie and Faith]

I know absolutely nothing about mortgages but I want to send you tons of , i'm thinking of you and wishing you all the luck in the world xxxx

 

[Snuggle]

Cant give you any advice hun but I hope you get it sorted

 

[*pud01*]

We had all kinds of shite when we was in the process of buying the apartment (which fell though BTW ) They moved their goalposts as far as high rise apartments went... we had the offer of 95% mortgage with the builders paying 5% deposit for us but at the last stages they changed it to 75% mortgages on high rise apartments so we' d of had to have found 25% which was way out of our budget... they didnt bother telling us this until a day before legal completion when i was bout 37 weeks pregnant , we later found out the building company and the mortgage advisor was both well aware of this but chose to keep it to themselves.

As far as insurances for mortgages goes you DONT have to take them out... theyre classed as optional extras if they was mandatory they would already be integrated with the mortgage. and with wills you dont need to do them, thats what we was advised when we filled out the forms with the solicitor for the apartment there was one there that sort of covered if anything should happen... who owns what % of the property etc...

sounds like your mortgage advisor is trying to cream some extra kick backs out of you... the more policies you take out the more comission they get.

 

[joj]

Sorry you're finding it so tough hun, I don't have a great deal of advice but for what it's worth when we got ours we didn't go through an advisor, we applied online and found that much easier (oh had gone through an advisor before and found it all drawn out and more confusing than it needed to be) We're not married...you do not need a will, the only thing we were recommended to do was an agreement that the equity from Gary's house was safeguarded for him as we were not married, he turned this down and said he wanted it completely 50/50.
I know it's getting much harder to borrow money, my friend has recently been told that not many companies will give you a mortgage unless you have 25% deposit!
I hope it all works out for you

 

[mum2be?]

i can officially say i hate solicitors + estate agents Both waste of space

I can remember when i got our first mortgage we had to sign a declaration wanted by the mortgage company as i was not on mortgage due to being under 18 (1 month off) so had to say that if anything went wrong i would leave house if it got repossed under oh's name.

but no mention of will

 

[Charlie:-)]

Just PM'd you Sarah.

 

[Geordie&Bairn]

As it says James sorted it all they admited we didnt need a Will or any of the other rubbish they pressed us to get
James has made it clear he dosnt want any of it they say fine
and now were back on track buying the house

 

[Slinky Sarah]

good

 

[Jen & Her Men]

woo hoo!! Thats ace news hun

Just goes to show how much these people try it on and try and confuse you with it all

Well done James for standing up to them!

 

[mrs_tommo22]

Good for james thieving gits these people are!