Jump to content
House Price Crash Forum
Sign in to follow this  
DarkHorseWaits-NoMore

Financial Advisor’S Motives?

Recommended Posts

Went to see a local Financial Advisor at a local Estate Agent, partly to catch up on the latest info, latest deals and sniff the market sentiment from the other side. Surprisingly honest about the gov't interventions and housing props, poor state of the economy and bizarre interest rate environment. I wanted to hear about the impact of FTB New Buy and Help To Buy (next Jan2014). There was and admission that the New buy scheme was not having the take up you might think from the press ramping and that Help To Buy probably wouldn't make that much difference to sales volumes as the charges were expected to be significant enough to make the scheme pretty unpopular for all the players concerned.

Anyway, this may sound pretty basic stuff but during the application in principle the FA pushed me to include my partner on the mortgage (non earning housewife). I know that it looks better to have more than one person on the hook for the debt but I am already a low risk profile, so what other reasons could he have for wanting her appear on the paperwork? What other products could he want to push on my next visit?

Share this post


Link to post
Share on other sites

<SNIP>

Anyway, this may sound pretty basic stuff but during the application in principle the FA pushed me to include my partner on the mortgage (non earning housewife). I know that it looks better to have more than one person on the hook for the debt but I am already a low risk profile, so what other reasons could he have for wanting her appear on the paperwork? What other products could he want to push on my next visit?

Standard sales tactic. He wanted the decision maker there!

Share this post


Link to post
Share on other sites

Went to see a local Financial Advisor at a local Estate Agent, partly to catch up on the latest info, latest deals and sniff the market sentiment from the other side. Surprisingly honest about the gov't interventions and housing props, poor state of the economy and bizarre interest rate environment. I wanted to hear about the impact of FTB New Buy and Help To Buy (next Jan2014). There was and admission that the New buy scheme was not having the take up you might think from the press ramping and that Help To Buy probably wouldn't make that much difference to sales volumes as the charges were expected to be significant enough to make the scheme pretty unpopular for all the players concerned.

Anyway, this may sound pretty basic stuff but during the application in principle the FA pushed me to include my partner on the mortgage (non earning housewife). I know that it looks better to have more than one person on the hook for the debt but I am already a low risk profile, so what other reasons could he have for wanting her appear on the paperwork? What other products could he want to push on my next visit?

:rolleyes::rolleyes:

PREDATORY LIAR LOANS:

THE FUEL - THE KEY FACTOR - in the GREATEST PYRAMID/PONZI SCAM OF ALL TIME....

the "housing market"

:rolleyes::rolleyes:

Edited by eric pebble

Share this post


Link to post
Share on other sites

Went to see a local Financial Advisor at a local Estate Agent, partly to catch up on the latest info, latest deals and sniff the market sentiment from the other side. Surprisingly honest about the gov't interventions and housing props, poor state of the economy and bizarre interest rate environment. I wanted to hear about the impact of FTB New Buy and Help To Buy (next Jan2014). There was and admission that the New buy scheme was not having the take up you might think from the press ramping and that Help To Buy probably wouldn't make that much difference to sales volumes as the charges were expected to be significant enough to make the scheme pretty unpopular for all the players concerned.

Anyway, this may sound pretty basic stuff but during the application in principle the FA pushed me to include my partner on the mortgage (non earning housewife). I know that it looks better to have more than one person on the hook for the debt but I am already a low risk profile, so what other reasons could he have for wanting her appear on the paperwork? What other products could he want to push on my next visit?

Neither estate agents nor financial advisors have a clue about demand when it comes to housing market.

There is only one limiting factor and only one ( until there is a crash) and that is availability of finance .

For various reasons , sometimes correct , sometimes fear, sometimes greed, mostly because it has been drilled into them since birth but there is an inexhaustible demand for house purchases .

Income is no longer a limiting factor as long as financing and affordability are present ( not real affordability of course)

In recent years the banks have used Qe to build up reserves and liquidity , they have no interest in 80+ Ltv because they are not profitable ( due to capital restraints) . If you get some other mug (us) to give the banks their 20% haircut then they will fall over each other to lend .

This will bubble further prices , Gidiot knows this and the sugar pill will see them reelected in 2015 and will help them win the referendum to finally remove our status as a nation state .

HPC ers have three choices I reckon ...

1) borrow to the hilt and get a house to flip prior to 2016, then emigrate

2) for those with long term mortgages already I'd take the opportunity to fix a good rate in early mid 2014 and try to hedge capital loss , then when you've done your living emigrate

3) emigrate before it goes tits

Thanks Gidiot , crash Gordon et al , this country will be full of starving , rioting , benefit claiming Jeremy kyle scum and Nobody else by 2020. See how that works out

Edited by Sir Harold m

Share this post


Link to post
Share on other sites

Went to see a local Financial Advisor at a local Estate Agent, partly to catch up on the latest info, latest deals and sniff the market sentiment from the other side. Surprisingly honest about the gov't interventions and housing props, poor state of the economy and bizarre interest rate environment. I wanted to hear about the impact of FTB New Buy and Help To Buy (next Jan2014). There was and admission that the New buy scheme was not having the take up you might think from the press ramping and that Help To Buy probably wouldn't make that much difference to sales volumes as the charges were expected to be significant enough to make the scheme pretty unpopular for all the players concerned.

Anyway, this may sound pretty basic stuff but during the application in principle the FA pushed me to include my partner on the mortgage (non earning housewife). I know that it looks better to have more than one person on the hook for the debt but I am already a low risk profile, so what other reasons could he have for wanting her appear on the paperwork? What other products could he want to push on my next visit?

I've done similar with the wife thing on the advice that her small contribution to the household income doesn't really help but does mean she isn't a dependent which apparently makes a difference. 2 earners, 2 dependents is apparently better than 1:3.

Share this post


Link to post
Share on other sites

Went to see a local Financial Advisor at a local Estate Agent, partly to catch up on the latest info, latest deals and sniff the market sentiment from the other side. Surprisingly honest about the gov't interventions and housing props, poor state of the economy and bizarre interest rate environment. I wanted to hear about the impact of FTB New Buy and Help To Buy (next Jan2014). There was and admission that the New buy scheme was not having the take up you might think from the press ramping and that Help To Buy probably wouldn't make that much difference to sales volumes as the charges were expected to be significant enough to make the scheme pretty unpopular for all the players concerned.

Anyway, this may sound pretty basic stuff but during the application in principle the FA pushed me to include my partner on the mortgage (non earning housewife). I know that it looks better to have more than one person on the hook for the debt but I am already a low risk profile, so what other reasons could he have for wanting her appear on the paperwork? What other products could he want to push on my next visit?

If she's not on the mortgage she won't go on the deeds - not a particular issue if you are married but might bother some people.

The main reason to ensure you do a joint application (as I found to my misfortune) is that different lenders have different policies. For my initial purchase mortgage despite being told it was their policy for married couples to have joint apps (my wife was not working at the time) it ended going through in my name only - found out about the deeds angle too late in the process to reapply. Now for a remortgage the lender I am targeting strictly enforces the requirement for married couples to do joint apps. The long and short of this is that I now need to pay extra legal fees for transfer of equity to get my wife on the deeds which will be at least £300. So the advisor is taking the sensible approach for you.

Share this post


Link to post
Share on other sites

It depends on personal circumstances. For a couple who have other joint finance then an additional account will make no difference to their credit scores. However where one person has any adverse credit, it then becomes a problem for the other person, limiting re-mortgaging options.

Lenders want joint liability for mortgages, less chance of non payment - more stability - two people to chase if repossession becomes an issue.

Share this post


Link to post
Share on other sites

Thank you for the responses and additional info.

As you might be aware I am becoming a forced buyer due to my age and family circumstances, becoming a sucker to this treasonable ponzi before it goes pop. :angry: :(

They Live : We got one that can see!

Edited by DarkHorseWaits

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 238 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.