I know a few people have asked the question about what % deposit is required to get a buy to let mortgage, well there is now 80% buy to let mortgages available.

So just so you all know you can now purchase investment / rental property with a 20% deposit previously you required at least 25%.

I presume you mean The Mortgage Works?

Yep, hopefully it will pave the way for a bit of competition and a few more lenders will follow suite.

Thats if the proposed new capital gains tax rate doesn't flatten it first. Seriously though good news that LTVs are getting more reasonable.

Have you seen the new products from BM Solutions? I have just placed an Ex pat mortgage at 1.99% over base for the term of the loan at 70% ltv ( no credit score) and 5times income!

I think that a lift in the market has probably come too later for a lot of advisors though, I was talking to a BDM, she was saying that she has lost loads and loads of advisors.

Thats if the proposed new capital gains tax rate doesn't flatten it first. Seriously though good news that LTVs are getting more reasonable.

Have you seen the new products from BM Solutions? I have just placed an Ex pat mortgage at 1.99% over base for the term of the loan at 70% ltv ( no credit score) and 5times income!

I think that a lift in the market has probably come too later for a lot of advisors though, I was talking to a BDM, she was saying that she has lost loads and loads of advisors.
Many advisers have also left with the collapse of two big networks owing the advisers money,and another large network is about to follow unless some one saves it.

Hi David, are you referring to Mortgage times and Network Data? Presbury also went bust last year and Home of Choice has just been bought out of admin by LSL. (Are you talking about another network?

I am currently with Intrinsic, previously with PTFS, Both of which made a real song and dance regarding business levels, accounts for the business etc, I just wish that they would show some of their cards also.

It is obvious to me that FSA do not like to desl with small one man bands and would much preferr to deal with networks and larger IFAs but how on earth are we supposed to know which one to go with when they are all looking wobbly

What about first time buyers LTVs? For instance with a combined income of £50k, looking for a £150k house and savings of £8k, should we be looking to save a bit more or get involved?

What about first time buyers LTVs? For instance with a combined income of £50k, looking for a £150k house and savings of £8k, should we be looking to save a bit more or get involved?

Yes i would save a lot more, 15% would be good

What about first time buyers LTVs? For instance with a combined income of £50k, looking for a £150k house and savings of £8k, should we be looking to save a bit more or get involved?

The Post Office (http://www.postoffice.co.uk) is doing a 90% LTV for first time buyers.

Kensington have re-entered the buy to let market today as well to 75% LTV.

Hi David, are you referring to Mortgage times and Network Data? Presbury also went bust last year and Home of Choice has just been bought out of admin by LSL. (Are you talking about another network?

I am currently with Intrinsic, previously with PTFS, Both of which made a real song and dance regarding business levels, accounts for the business etc, I just wish that they would show some of their cards also.

It is obvious to me that FSA do not like to desl with small one man bands and would much preferr to deal with networks and larger IFAs but how on earth are we supposed to know which one to go with when they are all looking wobbly
Hi,
I was referring to Home of Choice,I am with Mortgage Support Network who always pay on time and are financially sound.

Hi David, are you referring to Mortgage times and Network Data? Presbury also went bust last year and Home of Choice has just been bought out of admin by LSL. (Are you talking about another network?

I am currently with Intrinsic, previously with PTFS, Both of which made a real song and dance regarding business levels, accounts for the business etc, I just wish that they would show some of their cards also.

It is obvious to me that FSA do not like to desl with small one man bands and would much preferr to deal with networks and larger IFAs but how on earth are we supposed to know which one to go with when they are all looking wobbly

Hi mate. I am an ex mortgage times broker and that was painfull I did not receive payment for 6 months but they kept feeding us a load of rubbish about it being a problem with staff rather than finance and then bang 4 days before Christmas they went under. Luckily I was able to survive due to savings and am now with a network called Julian Harris, so far all payments have been on time and I am happy with the set up.

That must have been a bit traumatic to say the least. At least you got through it! I was told that numbers of advisors are way down and falling fast. Intrinsic and PTFS are now trimming the non performers from their books or trying to get them to amalgamate with larger ARs

I diversified into Equity Release 3 years ago, this combined with debt management has lessened the need for mortgage work. I earned 3 times the amount of earnings from mortgages with Equity Release and Debt management this last year. This has been a very very hard time for us mortgage advisors but I can now see the light at the end of the tunnel.

The Post Office (http://www.postoffice.co.uk) is doing a 90% LTV for first time buyers.

Yes they are but for a choice of lenders 15% would be good

That must have been a bit traumatic to say the least. At least you got through it! I was told that numbers of advisors are way down and falling fast. Intrinsic and PTFS are now trimming the non performers from their books or trying to get them to amalgamate with larger ARs

I diversified into Equity Release 3 years ago, this combined with debt management has lessened the need for mortgage work. I earned 3 times the amount of earnings from mortgages with Equity Release and Debt management this last year. This has been a very very hard time for us mortgage advisors but I can now see the light at the end of the tunnel.

I am currently considering going down the equity release route as I feel there is going to more and more demand for this going forward.

That must have been a bit traumatic to say the least. At least you got through it! I was told that numbers of advisors are way down and falling fast. Intrinsic and PTFS are now trimming the non performers from their books or trying to get them to amalgamate with larger ARs

I diversified into Equity Release 3 years ago, this combined with debt management has lessened the need for mortgage work. I earned 3 times the amount of earnings from mortgages with Equity Release and Debt management this last year. This has been a very very hard time for us mortgage advisors but I can now see the light at the end of the tunnel.
Hi,
Tried to send a pm regarding Debt Management to ask a question your inbox is full

Hi mate. I am an ex mortgage times broker and that was painfull I did not receive payment for 6 months but they kept feeding us a load of rubbish about it being a problem with staff rather than finance and then bang 4 days before Christmas they went under. Luckily I was able to survive due to savings and am now with a network called Julian Harris, so far all payments have been on time and I am happy with the set up.
Well done for sticking it out, glad to hear you you are happy with your new set up.

Well done for sticking it out, glad to hear you you are happy with your new set up.

Thank you. I did think about walking away at Christmas time but I just thought I had spent too long working towards doing this to just quit. It's still not easy but it's getting better and I think things should be okay for the ones who stuck it out as with less advisors around there will be more business for the rest of us.

so is this industry worth re-entering?

worked as a mortgage broker for years but took time out couple of years ago for various reasons.

just interested in views of how it is nowadays. been talking to an x co worker who is still advising who regulary writes 16k a month. Be interesting to see the impact of the election...

so is this industry worth re-entering?

worked as a mortgage broker for years but took time out couple of years ago for various reasons.

just interested in views of how it is nowadays. been talking to an x co worker who is still advising who regulary writes 16k a month. Be interesting to see the impact of the election...

Turbo, I have been in the business for nearly 2 years and for me I am now at my busiest. The advisors I am working closely with say it's still not like it was before the credit crunch but it's much much better than late 08 early 09.

You'll have to put me in touch with the guy writing £16k a month :hihi: could do with that kind of business.

I am really just starting as a business though, I am in the process of setting up a website and looking at purchasing leads (any advice on lead providers welcome)

so is this industry worth re-entering?

worked as a mortgage broker for years but took time out couple of years ago for various reasons.

just interested in views of how it is nowadays. been talking to an x co worker who is still advising who regulary writes 16k a month. Be interesting to see the impact of the election...
I do not think many advisers are earning 16k a month, the market is improving slightly but not as many products are available these days and many lenders prefer to get their business from direct from the client.

Turbo, I have been in the business for nearly 2 years and for me I am now at my busiest. The advisors I am working closely with say it's still not like it was before the credit crunch but it's much much better than late 08 early 09.

You'll have to put me in touch with the guy writing £16k a month :hihi: could do with that kind of business.

I am really just starting as a business though, I am in the process of setting up a website and looking at purchasing leads (any advice on lead providers welcome)

I recently bought some leads, complete waste of time, I got 1 case from 10 leads. It cost me dearly

I recently bought some leads, complete waste of time, I got 1 case from 10 leads. It cost me dearly


Thank you, I bought some leads a while ago and they where useless complete waste of money, don't know whether to look at pre qualified leads instead.

Thank you, I bought some leads a while ago and they where useless complete waste of money, don't know whether to look at pre qualified leads instead.
I have had some success a couple of years ago with internet leads from leadbay the problem is you need to spend say £500 each month for 15 leads which you may end up writing say 3 or 4 if you do not charge fees you need to write the protection to make it cost effective.

I have had some success a couple of years ago with internet leads from leadbay the problem is you need to spend say £500 each month for 15 leads which you may end up writing say 3 or 4 if you do not charge fees you need to write the protection to make it cost effective.

It's a good way to build a client bank up I suppose if you can afford the outlay.

That's if the proposed new capital gains tax rate doesn't flatten it first. Seriously though good news that LTVs are getting more reasonable.
That's irrelevant for buy-to-let, only for buy-to-sell. You only make a capital gain on a property when you buy it and then sell it. If you buy a property with the specific intention of selling it, stop calling yourself buy-to-let landlords, you're just property speculators.

That's irrelevant for buy-to-let, only for buy-to-sell. You only make a capital gain on a property when you buy it and then sell it. If you buy a property with the specific intention of selling it, stop calling yourself buy-to-let landlords, you're just property speculators.

What about people that buy then let for an income and sell at a profit at a later date? A lot of people do this and will be effected by any change in CG tax.

What about people that buy then let for an income and sell at a profit at a later date? A lot of people do this and will be effected by any change in CG tax.
They're property speculators. They buy and sell later at a profit. That's property speculation, what's forced property prices so high in the last fifteen years, and out of the reach of young first-time buyers.

They're property speculators. They buy and sell later at a profit. That's property speculation, what's forced property prices so high in the last fifteen years, and out of the reach of young first-time buyers.
They have had some impact on the property market(not that much) many have had their fingers burned,the problem at present is lower loan to values available from lenders and income levels not rising.

I do not think many advisers are earning 16k a month, the market is improving slightly but not as many products are available these days and many lenders prefer to get their business from direct from the client.

He has been doing well but has also been 'putting the hours' in. The company is low on advisors as a couple have left. Done that much over the last couple of months.

Turbo, I have been in the business for nearly 2 years and for me I am now at my busiest. The advisors I am working closely with say it's still not like it was before the credit crunch but it's much much better than late 08 early 09.

You'll have to put me in touch with the guy writing £16k a month :hihi: could do with that kind of business.

I am really just starting as a business though, I am in the process of setting up a website and looking at purchasing leads (any advice on lead providers welcome)

Cheers:thumbsup:

Have used PAA Leads (think that is what it was called) and they got the clients through the door. The leads came from moneysupermarket and my opinion was the clients were just getting a second opinion on their own research.

never signed any up.....

PAA Leads are amongst the worst around. You'll get slightly better results with Leadbay & Leadpoint and I would say avoid pretty much all Indian call centres. The best results come from referrals and introducer relationships.

PAA Leads are amongst the worst around. You'll get slightly better results with Leadbay & Leadpoint and I would say avoid pretty much all Indian call centres. The best results come from referrals and introducer relationships.
I would agree about PAA leads I think they are part of the moneysupermarket group I bought some leads and did not get one conversion, as you say referrals are great and introducer agreements.