Specialist Contractor Mortgage Brokers

[css_jay99]

Have you asked them?

While they did a great job getting me good rate, I am not so sure they will be as helpful in this situation where I would be asking more questions ....... but I could give them a try i guess

[northernladuk]

While they did a great job getting me good rate, I am not so sure they will be as helpful in this situation where I would be asking more questions ....... but I could give them a try i guess

Well your two options are ask them or a contractor specialist as we are discussing here. Not sure why you are asking us.

[css_jay99]

Well your two options are ask them or a contractor specialist as we are discussing here. Not sure why you are asking us.

Always good to ask the wise old elf

[northernladuk]

Always good to ask the wise old elf

Hee hee

[css_jay99]

I am planning to convert existing property to BTL (and taking a bit of money out of it) and then getting another mortgage buy another residential.

I went to a broker to find out if I can do all this at the same time and find out what rates and amounts are available ... so far so good

I was then told I need to find another property 1st before I can start the Mortgage applications. Is this correct? as I thought that getting a mortgage in principle means that broker has approached a lender(s) willing to give me a mortgage based on my circumstances ...

[l35kee]

I am planning to convert existing property to BTL (and taking a bit of money out of it) and then getting another mortgage buy another residential.

I went to a broker to find out if I can do all this at the same time and find out what rates and amounts are available ... so far so good

I was then told I need to find another property 1st before I can start the Mortgage applications. Is this correct? as I thought that getting a mortgage in principle means that broker has approached a lender(s) willing to give me a mortgage based on my circumstances ...

The process for me was that the broker gave me an illustration of the mortgage I could get based on my circumstances. No credit check etc required.

I then went looking for properties as I knew what kind of prices I was looking for.

Found a house, put in an offer which was accepted. The broker then got me the offer in principle (like 30 mins after I asked), which is says that they are willing to give me what I asked for, assuming I'm telling the truth and nothing changes.

I'm no expert, but I guess he wants to hold off the offer in principle to avoid the credit check? If you don't find a property before it expires, or you find one that doesn't fit into the offer in principle?

Like I said, no expert

[css_jay99]

The process for me was that the broker gave me an illustration of the mortgage I could get based on my circumstances. No credit check etc required.

I then went looking for properties as I knew what kind of prices I was looking for.

Found a house, put in an offer which was accepted. The broker then got me the offer in principle (like 30 mins after I asked), which is says that they are willing to give me what I asked for, assuming I'm telling the truth and nothing changes.

I'm no expert, but I guess he wants to hold off the offer in principle to avoid the credit check? If you don't find a property before it expires, or you find one that doesn't fit into the offer in principle?

Like I said, no expert

that matches what I am told. thanks

[l35kee]

Mortgage offer came through today, a full week after applying for it. Cue gasps from friends still in permie world who told me I'd need three years of accounts (instead of the 2 months I actually have)

[anons]

Congrats!

Mortgage offer came through today, a full week after applying for it. Cue gasps from friends still in permie world who told me I'd need three years of accounts (instead of the 2 months I actually have)

Congrats! which broker did you go with?