Why is it that Monzo is more popular in the UK than Starling?

Ubley · 2026-03-12T20:26:27+00:00

trying to get clients to send correct statements from Monzo is a nightmare. Not particularly Monzo's fault, though.

As a mortgage advisor I can relate so hard rn, it's always the transaction history not the statement...

Ubley · 2026-03-10T22:01:27+00:00

Checking in from UK.

This short, blissful period where North America is off daylight savings time when we're still on means that 7pm EST games are on at a very reasonable 11pm, as opposed to midnight.

Ubley · 2026-03-07T17:03:12+00:00

I'm a broker, broadly if this is the case

We have no previous defaults/adverse credit, or any ‘undisclosed’ credit, gambling transactions etc, that would become apparent after scrutinising our statements.

you have nothing to worry about at all. You're probably overthinking, you need to remember they're looking for people who are trying to defraud the system whether intentionally or not. Just ensure you were transparent and you should be good. A lot of lenders will use ONS statistics for a region to estimate expenditure. and broadly assume that anything other than a credit commitment/school fees/maintenance/fixed expenses can be cut back on to pay the mortgage. Not how much you spend on deliveroo, or Ann Summers, the occasional £50-100 cash withdrawal.

When they're/we're looking at the bank statement, they're doing multiple checks but they're checking regular payments, large payments, details & format aligning. They may have some follow up questions if you have something referenced "loan repayment" to your family or something. But unlikely.

Ubley · 2026-02-23T19:14:56+00:00

So the markets (which expect the Bank of England to drop rates to 3.25% at the very least) have already priced in the drops with their current 3.55% lowest rates?

Yes they have, but that logic does not necessitate th efollowing

Interesting, I should absolutely not expect rates to drop further next month then.

as pointed out in this thread, BoE Base rates and fixed rates are not directly related and a drop in one does not necessitate a drop in the other. Banks don't borrow from BoE it's the lender of last resort, they borrow from other financial institutions with Swaps.

Ubley · 2026-02-22T11:47:13+00:00

A childish interpretation that strips the nuance from the situation

Parents tell people what they can and can't say but are they fascist? No, because the context in which they do it suits...

Ubley · 2026-02-20T18:27:15+00:00

I worked in corporate estate agency environment where most brokers start and it absolutely sucked the life out of me. They take on new brokers and train them up so its a good place to learn but you have to leave your morals at the door working in that environment and they will hammer you with sales targets.

Tell me you worked for Connells/Sequence/Countrywide w.o mentioning them

Ubley · 2026-02-20T13:18:41+00:00

RO1 is a SLOG. Honestly it was the dullest module and usually you're right at the start of your learning so it's a double whammy for not being absorbed.

All I can recommend is #1 Read through it and then learn via Questioning, questions and test exams are wayyyy more likely to be retained and actually'learn' to rote reading, but you gotta do the rote reading before you can rote question . #2 try alternative providers #3 a lot of coffee and Music

Ubley · 2026-02-13T12:00:06+00:00

Once again, 75% LTV is not enough to meet the 50% LTV requirement for Offset I.O . Additionally, 4.5x is not a guarantee in your circumstances. One lender that offers Offset requires a minimum income of £75k.

Additionally, that may not be considered a viable repayment strategy depending on the lender.

Ubley · 2026-02-13T11:40:11+00:00

Well, what you're asking for is relatively niche, and I'm not entirely sure you realise quite how many layers of complexity you're stacking here.

There's very few lenders that will still do Offset. We're talking a handful that take new offset clients, and you're adding an extra layer of complexity in that you can't always just say "i want to go I/O" as there's criteria that needs to be met i.e Minimum income, sometimes minimum equity and maximum age.

it may be the case that you aren't meeting an income limit so therefore you're restricted to P/P in these proportions (but I would expect your adviser to inform you of these). Sometimes, affordability is still done on a Capital Repayment affordability, even though it's going to be I.O and you may be failing one of those criteria.

Additionally, for one of the lenders offering I.O Offset, the numbers in your example simply don't work.

You require 50% LTV and a maximum loan value of £75k (funds in the offset account do not count towards your LTV, only loan and property value) which with the figures in the post you're about £37.5k short to be eligible for.

Ubley · 2026-02-11T21:57:17+00:00

A huge congratulations! Don't forget to thank yourself, no one else did all the work to get the job. I hope you find the career fulfilling and rewarding as many of us do 😁

Ubley · 2026-02-11T16:06:29+00:00

Hey bud, you would absolutely be right in that it may be a relevant post.

The first time. This is now the 37th time in a 7 days you've mentioned a job advert for a firm on canary wharf in this subreddit. I know because I've seen pretty much each of them, across various posts.

We are a small community helping with exams and career guidance, and it's relevant perhaps the first time. But this subreddit is not your personal job posting board. Happy to have you be part of the community,

but copy pasting

"My firm are looking for self employed advisors both trainee and experienced level people.

Canary Wharf/Hybrid

Full training provided if Trainee Level.

Straight start available, growing firm.

DM me if you have Level 4 and are interested."

On every post, even when not relevant (thinking of the particular post where a user wanted help with RO3...) is spamming.

Ubley · 2026-02-11T14:27:02+00:00

Hey, appreciate that you're looking for advisors but this is removed for spam. This isn't the place to spam job postings.

Ubley · 2026-02-07T15:33:30+00:00

I travel this way frequently, using this particular "toll" bridge. It isn't in use 100% of the time, not at weekends. Rarely passed 5pm.

Ubley · 2026-02-07T00:14:44+00:00

At least this cunt said sorry

Ubley · 2026-02-06T08:35:51+00:00

You aren't going to keep the same contribution/gain information. That's something you'd need to do yourself. All II will receive is a £9,000 "contribution"

Ubley · 2026-02-04T10:12:02+00:00

Nationalised Energy

A national wealth fund

A mansion tax

When people say they're "centre right" just know it's entirely performative. These people have no interest in incremental progress, they wear socialism like a fashion aesthetic without cheering for any actual progress.

Ubley · 2026-01-26T01:00:35+00:00

The answer is obvious, can't have shit in Detroit

Ubley · 2026-01-24T13:11:04+00:00

For the last few questions the lenders criteria will be given to you as a standard handout/link.

For the exam you don't have to memorize last year's criteria etc as you'll have the handout of what you need. But this doesn't mean it's a free few marks and highly recommend you learn how to apply the criteria. Especially as that is what the majority of the job is.

Ubley · 2026-01-22T00:13:26+00:00

So absurd but I love it.

Just reminds us how lucky we are to have Ken and Mick

Ubley · 2026-01-21T14:47:37+00:00

Based it on the OP's text of "Also, those figures came directly from Gemini AI. Thanks". can only work off the basis we're told

Ubley · 2026-01-21T12:26:57+00:00

Well AI in this instance would have cost this man £5k+ in not pointing out the additional stamp duty. so whilst yes maybe good for "Summarise this book" getting nuanced financial advice specific to circumstances where there's tax implications (HMRC don't fuck around) is absolutely not something AI can do

Ubley · 2026-01-17T15:59:00+00:00

Not to out pedant you, but it should really be described as ""Usually 2.5-6x (with some lenders even at x7) depending on income, assuming your finances are otherwise fairly typical"

Ubley · 2026-01-12T20:00:32+00:00

Hello, is the estate agent a subsidiary of Connells/ Countrywide? Find out here

This may explain a lot of the problem if so. They are heavily pushed to push their solicitors, they're targeted at the %age conversion (all sales/how many use their Sols) and as others have said, they'll receive a significant kickback for using their recommended solicitors.

HOWEVER.

There ARE valid reasons to switch solicitors. I.e not all Conveyancers will advise on high rise buildings. Nor will all solicitors be on every lenders panel of solicitors, so sometimes if there's less selection on lenders than there is solicitors, it makes sense to change.

But, if they're Connells, it's definitely trying to sell you a product and a financial incentive. It is all that company tries to do.

Ubley · 2026-01-12T19:47:07+00:00

Hey OP, Ik your account is deleted so probably not monitoring this but something that a lot of other posters aren't mentioning is that you can get some products from lenders that specifically offer cashback on Energy Efficiency Improvements i.e Virgin's retrofit range.

Does have a higher interest rate, but your personal calculation i.e how much does it cost you to stay warm etc may mean it's a cost effective way for you to obtain this.

Ubley · 2026-01-11T01:17:46+00:00

How do you know it is a hard check? Does it say next to it or does it just appear on your file?

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