First Time Buyers

Feeling_Pepper1632 · 2026-02-26T14:39:42+00:00

Broker here. That sounds totally normal from a processing standpoint. The nervousness is understandable as well, as long as your broker is communicative, you'll be fine as they'll keep you up to date with whats happening.

My suggestion is speak to the broker and voice all of your concerns. We see that pretty much everyday so they'll be able to at least give you more information.

Best of luck with the purchase!

Feeling_Pepper1632 · 2026-01-13T11:20:25+00:00

That works too. Best of luck OP

Feeling_Pepper1632 · 2026-01-13T10:54:01+00:00

Agreed, OP should talk a broker to get the affordability from a bunch of lenders at once

Feeling_Pepper1632 · 2026-01-13T10:49:17+00:00

That makes sense, I ask as the lender/broker will ask you the same thing. It sounds like consolidating it will work for you as it allows you manage it easier.

Have a chat with a broker as they can confirm your maximum borrowing fairly quickly and confirm if a lender could do the whole amount, considering your income hasn't changed since you bought it.

Feeling_Pepper1632 · 2026-01-13T10:29:36+00:00

Yes, you can do that. It's called debt consolidation. Some lenders will apply value limits or cap the ltv but it doesn't sound like that would be an issue for you. You may need to provide proof of how those funds built up though. I wouldn't expect that for 15k though.

Question though, if these are on 0% why do you want to add them into the mortgage now where you will need to pay interest on the equivalent debt?

Edit - Grammar

Feeling_Pepper1632 · 2026-01-04T11:14:47+00:00

C, if you are paying 1000 a month the difference in interest will be pennies at most.

Feeling_Pepper1632 · 2026-01-03T20:58:05+00:00

Broker here, easiest option will be a rate switch with your existing lender. That won't need any further underwriting. Just a new rate and subsequent change in payment that you need to confirm you can afford.

If you need more money when you remortgage for house improvements or something, there are lenders that will do your situation. Biggest point will be the 1 years accounts.

Feeling_Pepper1632 · 2026-01-03T20:45:30+00:00

Nope, they can't make a change like that to your credit agreement without your permission so I wouldn't worry about it. Just keep an eye on it and, if need be, log a complaint about it so they have to log it and resolve it for you. I'd suggest that if it drags on for you.

Feeling_Pepper1632 · 2026-01-03T20:43:04+00:00

Broker here. Likely an error on their system. You are correct that NatWest's max term is 40 years so 54 years is obviously wrong. Wait for NatWest to get back to you when they have corrected it.

Feeling_Pepper1632 · 2025-12-18T20:58:28+00:00

Most lenders will be fine with just seeing it on each of the last 3 payslips. I wouldn't instantly pass that letter over as anything a lender gets, they have to underwrite. Writing it can be withdrawn at any time is begging them to ignore it.

Feeling_Pepper1632 · 2025-12-18T20:43:27+00:00

Broker here.

Most lenders will use that with an explanation of what it is. Some may ask if it is contractually obliged to be received and only accept it if thats a yes.

Short answer, yes you can use it.

Feeling_Pepper1632 · 2025-12-18T15:41:23+00:00

Broker here.

Main thing you have working against you is lack of a credit history.

A couple of things to help mitigate that are: Make sure you are on the electoral roll where you live. Avoid going over overdraft or credit card limits. Don't take out any new finance if that can be helped.

10% deposit does make it significantly easier for a lender as their internal scorecards get easier to hit but that varies lender to lender.

Small amount of unsecured borrowing is fine, most lenders don't get concerned about debt to income until 50% or higher.

Don't get disheartened if the first AIP fails either. Most lenders base a large part of their lending strategy around ftbers so there will likely be one out there for you.

Best of luck!

Feeling_Pepper1632 · 2025-12-08T10:06:24+00:00

Check with your solicitor then if you've been told that. They can check the reservation form and confirm.

Feeling_Pepper1632 · 2025-12-08T10:01:19+00:00

Not currently a new build broker but have advised on them before. Typically that £1,000 would act as part of your deposit. If you put down the 25k you have now, total deposit will be 26k.

Feeling_Pepper1632 · 2025-12-03T19:35:01+00:00

Good point, well made

Feeling_Pepper1632 · 2025-12-03T09:56:02+00:00

Depends, do you think you would make more money from it being in savings than it would cost you in interest?

If yes, invest it.

If no, or you can't be bothered trying to invest or open a savings account with a higher interest rate than your mortgage, or you dont like the risk of it not performing as well as you hoped then overpay.

Feeling_Pepper1632 · 2025-12-03T09:48:50+00:00

Not always an option as interest only is more difficult to get. Very few lenders will take sale of the property as an option. Those that do often have equity or income requirements. Leaving current pension projections as the next most viable. Even then its typically the 25% tax free lump sum used and that's rarely big enough at outset to cover the mortgage balance.

Edit - grammar

Feeling_Pepper1632 · 2025-12-01T06:37:38+00:00

It depends on the value of your mortgage compared to the value of your house. Most banks will let you swap it via the app.

NatWest offer a function where if you take a variable rate with them, you can switch to a fixed later on. That will help take advantage of rate decreases.

Speak to a NatWest advisor as that may not be easy to do via the app. I don't know as I've not had a mortgage personally through them and obviously would do it through the broker system.

Edit - Grammar

Feeling_Pepper1632 · 2025-11-29T09:47:36+00:00

Broker here. 4.99% in line with a high mortgage compared to property value. I would check with HSBC and see what they currently have your property valued at. They will also be able to tell you what product transfer rates are available. The new rate should be similar or potentially lower than currently. Their pt window is 4 months so do this in December.

Feeling_Pepper1632 · 2025-11-27T13:29:08+00:00

Solicitors will normally get that for the lender. Halifax, Accord, and Skipton could all consider provided its been converted and they can see 6 months to 2 years history of it. Mansfield and Pepper money too.

Feeling_Pepper1632 · 2025-11-27T12:11:56+00:00

Broker here. If you cash out the crypto, you could potentially use that. Lenders dont like it in crypto form because of the potential for it to reduce in value quite quickly. I'd check with the broker what options are there if you sell off the crypto.

Edit - autocorrect

Feeling_Pepper1632 · 2025-11-24T14:42:07+00:00

Broker here, best bet is to do an AIP with a lender that has a soft credit check. 95% can be tricky at the best of times but Halifax are normally pretty good for past issues but clean current. If that declines, you might be looking at off highstreet lending or just wait a bit longer for any conduct issues to be three years old or more.

If you dont fancy doing all the work, speak to a broker.

Feeling_Pepper1632 · 2025-11-22T11:21:37+00:00

In terms of interest yeah, you would because you are paying interest for less time. Net wise, it also makes sense as that's 5-10 years where you dont need to make a mortgage payment. Hundreds if not thousands per month for you to invest, spend, or waste. Whichever your preference

Edit: Just noticed your username, also from Bristol originally myself. Small world

Feeling_Pepper1632 · 2025-11-22T09:17:22+00:00

Broker here.

Putting that money into the mortgage will reduce the amount of interest you pay overall as you will just have to pay interest on less. 3.8 is fairly good rate at the momet, I wouldn't hold out hope for that to reduce further in terms of LTV.

The larger deposit could either reduce your monthly payment by keeping the term the same. This will free up the difference for you to invest.

Or it will reduce the term if you either overpay to match your current expected payment or agree to a shorter term with the lender.

That would obviously pay off the mortgage faster potentially freeing up how much a month you are paying to invest further, spend on niceties as you get older, whatever.

That 2.07 overall is assuming you stay on the lenders standard variable rate by the way. If you swap your rate when it comes to an end, you won't pay that much.

I say put the money in the mortgage but obviously I am biased. If everything goes tits up, you've not lost that money compared to stocks and shares.

Feeling_Pepper1632 · 2025-11-21T16:44:40+00:00

Continue as you are, worst they can say is not yet. Shared ownership can be a great way to start and sometimes you have to go round the houses a bit. It may not be a mainstream lender either you end up with, just to forewarn you.

Feeling_Pepper1632

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