Stephen Pears - Mortgage Consultant HD Consultants

Registered with Property118.com
Monday 16th September 2013


Latest Comments

Total Number of Property118 Comments: 9

Stephen Pears - Mortgage Consultant HD Consultants

15:18 PM, 16th January 2015
About 5 years ago

First Time Buy to Let for 18yr old

Reply to the comment left by "Neil Woodhead" at "16/01/2015 - 15:02":

Hi Neil

If it is a joint mortgage the Title Deed must be registered at Land Registry in joint names.... Read More

Stephen Pears - Mortgage Consultant HD Consultants

15:17 PM, 16th January 2015
About 5 years ago

First Time Buy to Let for 18yr old

Reply to the comment left by "Nikki Hughes" at "16/01/2015 - 14:30":

There is a slim chance you may be considered even though you are no longer working but that would depend on the location of the property as the lenders that could provide a mortgage are regional Building Society's

Is your daughter in employment? Could you not persuade your husband to take a risk?... Read More

Stephen Pears - Mortgage Consultant HD Consultants

12:54 PM, 16th January 2015
About 5 years ago

First Time Buy to Let for 18yr old

There are a limited number of lenders that may consider an application from an 18 year first time buyer/ investor although any application would be based on an affordability assessment similar to a regulated residential mortgage so your daughter would need to be in receipt of legal income - employment/ Trust Fund etc

The lender would also carry out a Credit Search and I actually feel this may be a bigger stumbling block.

However should you do decide to be a joint mortgagee the number of lenders that would consider an application increases. You would need to meet the lenders criteria which I cannot comment on using the limited information provided.

Stephen
HD Consultants... Read More

Stephen Pears - Mortgage Consultant HD Consultants

12:44 PM, 16th January 2015
About 5 years ago

First Time Buy to Let for 18yr old

Hi Nikki

There are a limited number of lenders that may consider an application from an 18 year first time buyer/ investor but any application would be based on an affordability model similar to a regulated residential purchase meaning your daughter would need an income from a legal source, employment/ Trust Fund etc.

Also any lender would carry out a Credit Search and I fear this may actually be the biggest stumbling block to an application

However if you were agreeable to becoming a joint mortgagee the number of lender options would increase although you would still be required to meet the lenders criteria which I cannot comment on using the limited information currently available.

Stephen
HD Consultants... Read More

Stephen Pears - Mortgage Consultant HD Consultants

14:26 PM, 26th June 2014
About 6 years ago

Shawbrook Bank slash arrangement fees and rates

What fantastic news from Shawbrook who are a very active lender in the market place with a huge appetite to lend. Their systems are great and the staffing levels have just increased to cope with demand, which in itself says a lot about Shawbrook as other lenders seem to be cutting back.

It is difficult to provide an exact turnaround time for Shawbrook as outside influences, such as access to property for valuation can create unnecessary delay.

Shawbrook with a perfectly packaged application and no outside issues would be disappointed not to have issued formal loan papers within 14 days and then it is down to the relevant other parties to complete the transaction... Read More