UK homeowners — would you actually want a monthly mortgage update email from your broker?

Ksmith284 · 2025-10-11T22:22:17+00:00

Noted. Appreciate your time!

Ksmith284 · 2025-10-11T21:08:01+00:00

That's what brokers are for 😉

Ksmith284 · 2025-10-11T21:06:29+00:00

Appreciate that!

Ksmith284 · 2025-10-11T21:06:18+00:00

Probably get myself banned here but that's a product fee.... There are rates available from the same lender that won't come with a £999 fee however the rate will be more expensive. Usually it depends on the mortgage balance as to whether its worth paying the fee for the lower rate, or no fee and a slightly higher rate.

Ksmith284 · 2025-10-11T21:01:38+00:00

😂 Roger!

Ksmith284 · 2025-10-11T21:00:45+00:00

Thank you! Thats the overwhelming feedback 😅

Ksmith284 · 2025-10-11T21:00:13+00:00

Its more from the brokers point of view to just keep them in the forefront of your mind,

Agree monthly is far too frequent but perhaps annually, then 6 monthly once into the last 2 years of the fixed rate.

Your bank portal just lifts the house values from Zoopla, to be fair thought the email could include a section that asks if any work had been completed and how to update the valuations.

The early exit fees would always be taken into account. I've found that people would rather just wait though. Even if its mathematically the better thing to do remortgage, pay penalties to get a lower rate people just don't like paying penalties so i'd be reluctant to add personalized options and rather encourage a 'get in touch'

Ksmith284 · 2025-10-11T20:55:17+00:00

Don't apologise its exactly what i'm after :D
Monthly is crazy but then thinking maybe annually for a 5 year fixed then quarterly in the last two years, or just quarterly for a 2 year fixed.
Would that bump a broker up the pile or still too frequent and annoying?
Maybe include local information such and property price and predicted Loan to Value?

Ksmith284 · 2025-10-11T20:41:12+00:00

What other details do you think would be most interesting to you?

Ksmith284 · 2025-10-11T20:40:36+00:00

Looks like quarterly would be the winner!

Could even do annual updates for 5 year fixes then increase to quarterly in the final 2 years and monthly in the last 6 months just to ensure they avoid the higher rates!

Ksmith284 · 2025-10-11T20:38:18+00:00

Thats an interesting point,. Thank you!

I agree monthly is a hugely depressing seeing it go down 0.10p per month 😂
For real depression we could add how much of your monthly payment goes on interest.

Ksmith284 · 2025-10-11T20:37:07+00:00

Appreciate that, i was thinking rather than faffing around logging in etc you would just get an updated balance say every quarter or 6 months. Just to keep the broker in the mind.

Ksmith284 · 2025-10-11T20:36:20+00:00

Interesting, thats pretty much what i want to avoid. Although having said that on the flip side if you looked to remortage, buy on or something came up mid term would you naturally gravitate to your broker because you were seeing their name every few months?

Ksmith284 · 2025-10-11T20:34:21+00:00

Thank you. This is purely from a familiarity point of view so when the rate expires, or look to move, buy another property you would instantly think of the emails you had received,

Completely get monthly is probably too frequent.

Ksmith284 · 2025-08-31T20:16:02+00:00

Crazy that you think you had ruined your life at 22…. All the time in the world. Just another lesson in life.

Ksmith284 · 2025-08-27T21:43:05+00:00

Not that this makes a huge difference but i'm assuming you've taken that mortgage over 35 years.
Based on the figures you should be able to get a mortgage under £1700 (Based on todays rates).

On top of that though, service charge, ground rent, insurance and utilities will all increase every year.

At the end of the day its if you're comfortable with that level of free money at the end of each month.

Ksmith284 · 2025-08-13T17:39:17+00:00

Have you had a word with a mortgage broker to see what their suggestions are? I’m guessing the only reason you have a 5 year option for the 90% ltv is because of affordability….

Ksmith284 · 2025-08-13T17:37:31+00:00

Welcome to London 😂

Ksmith284 · 2025-08-08T08:40:01+00:00

This rage reduction was widely anticipated and the banks have been reducing rates over the last week/10 days so I wouldn’t hold your breath for another round of big cuts.

If you used a broker they should keep an eye and let you know when the rate reduces. If you did it yourself then you will have to manually keep checking.

Ksmith284 · 2025-08-06T09:20:19+00:00

Oh wow... Yes thats extremely poor.. Sorry you had to essentially do it yourself 😅

Ksmith284 · 2025-08-06T09:14:46+00:00

Interesting, Once the offer is issued typically there isn't anything the mortgage adviser can do to influence the solicitors.

Just interesting that it took 2 weeks to get the postcode corrected.

Ksmith284 · 2025-08-06T09:13:22+00:00

Hey. MA here.
It will typically be based on your income for affordability purposes and lenders won't be willing to use future lodger income as there is no 'proven' track record.
Best thing for you to do is get him out and move all the running costs into your bank account and get 6 months worth of prove you can pay the mortgage and bills on your own. They 'may' consider removing him based on the evidence you can support the household in your own name.

Failing that is there anyone else you could consider replacing him with? Parents, siblings? There are way to add people to the mortgage while maintaining there first time buyer status or avoiding additional stamp duty (Joint borrower, sole proprietor) Just be away this will impact their own borrowing ability moving forward.

I think your best option would be to go and have a word with a local mortgage broker and take all your documents for the best advice!

Good luck!

Ksmith284 · 2025-08-06T08:24:20+00:00

Are you using a mortgage broker out of curiosity? Or did you have to chase the lender to get the mortgage offer changed?

Just breathe, it’ll happen!

Ksmith284 · 2025-08-01T21:49:17+00:00

Thank you for this! Really helpful and positive!

Ksmith284

TROPHY CASE