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Mortgages in this crunchy environment

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    Mortgages in this crunchy environment

    Anyone tried to get a contractor mortgage in the last couple of months? I'm hearing dire things about the lending market, and "contractor" mortgages tend to challenge the average underwriter's brain a bit. I guess in these credit crunchy times that's going to be even worse.

    I know about the specialist companies but too early to start looking for my re-mortgage yet. Just looking for recent experiences.

    #2
    I did, I chose a fixed rate though :-( good rate mind :-)

    I didn't find the contractor specialists competitive. Go through a mortgage broker and you should be OK...

    Older and ...well, just older!!

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      #3
      Just remortgaged from Leeds to C&G this week. No problems at all...even borrowed a bit extra. I went for the tracker just above base rate.
      Blood in your poo

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        #4
        Just been approved 'in principle' for one with Intelligent Finance, went for the 3 year tracker, also at the same time a BTL with C&G (interest only)

        Just need to show current contract and bank statement as proof.
        Politicians are wonderfull people, as long as they stay away from things they don't understand, like working for a living!

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          #5
          No prob so far. Got a tracker just above BoE base rate.

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            #6
            Originally posted by portseven View Post
            Just been approved 'in principle' for one with Intelligent Finance, went for the 3 year tracker, also at the same time a BTL with C&G (interest only)

            Just need to show current contract and bank statement as proof.
            I got the same damn thing with IF, but 2 year tracker!

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              #7
              Originally posted by portseven View Post
              Just been approved 'in principle' for one with Intelligent Finance, went for the 3 year tracker, also at the same time a BTL with C&G (interest only)

              Just need to show current contract and bank statement as proof.
              They were more than happy with my last 3 monthly invoices
              Blood in your poo

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                #8
                They pay me when I remorgage my castles.

                threaded.

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                  #9
                  Originally posted by Tensai View Post
                  Anyone tried to get a contractor mortgage in the last couple of months? I'm hearing dire things about the lending market, and "contractor" mortgages tend to challenge the average underwriter's brain a bit. I guess in these credit crunchy times that's going to be even worse.

                  I know about the specialist companies but too early to start looking for my re-mortgage yet. Just looking for recent experiences.
                  Yes - I've just got a mortgage agreed with Halifax on Thursday. 0.19% above base rate.
                  Si posse, recte, si non, quocumque modo rem

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                    #10
                    do people think there is going to be a drop in house prices over the next couple of years?

                    I'm thinking of moving up from flat to house and am considering selling my place as soon as possible and then moving into rented house for a year or so and see what the market does.

                    At least this way I could release any growth in my current place.
                    Last edited by ~Craig~; 22 January 2008, 13:44. Reason: typo

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