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Here are some suggested organisations that offer expert advice on fostering.

Mortgage for foster carers

(34 Posts)
mumsiepie Wed 04-May-11 21:50:29

Hi, Has anyone any experience getting a mortgage through Endsleigh mortgage brokers? They advertise they can get mortgages for foster carers as it is difficult to borrow nowadays and I was told today from a financial adviser he had tried several lenders and no one would lend to me.

bonnieslilsister Wed 18-Jan-12 10:31:43

I think if someone is offering advice in an honest way that is fine but to make up stories...

fostermel Fri 20-Jan-12 21:22:48

Hi thanks again mumpots for your advice 20.12. your post sooo useful. Apologies for those I may have offended by being too effervescent in my gratitude. Sometimes you get so desperate and disillusioned that when you can be helped.................... well enough said. Fostermel.

lindabasiony Sat 27-Apr-13 16:48:01

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scarlet5tyger Sat 27-Apr-13 19:23:33

I remortgaged about 10 months ago and Halifax were happy to lend me up to £120k. That was way more than i needed, or could afford to repay (!) but they had no hesitation offering it.

musickeepsmesane Sun 28-Apr-13 15:03:21

We also had no problems with Halifax/Bank of Scotland recently. In fact I was stunned at how easy it was to get approval. Am an existing customer though.

kcmum1 Fri 22-May-15 21:47:28

I know this is a really old thread, but I want this to be avaiable for other foster carers who like me were reading threads like this looking for guidance and advice. My other half and I have been fostering for 8 years and as well as adopting our little girl we also have 2 LT foster children.I work full time where as my wife is a stay at home mum/foster mum. We contacted favourites finance who specialise in Foster Carer Mortgages and they were brilliant - we wanted in excess of £250K and the advice and support we have received has been brilliant! I wouldnt hesitate to recommend!!

Mumpots Sun 21-Jun-15 17:39:39

I've just used Marilyn Parkins for the 3rd time in a few years, and have recommended her to many other foster carers. We are all absolutely delighted with the job she does.....she has moved and changed her address and phone numbers. They are now 01389-768400 and 0777-5830085......yet again she got us our mortgage offer within 10 days and has saved us hundreds of pounds every month. I cannot recommend her highly enough....very professional and she tells it as it is....we had tried other ways to get a mortgage and nobody would consider us based in our foster income, yet Marilyn did it in days.....we can't thank her enough....

fasparent Mon 22-Jun-15 11:52:31

Can be difficult depends which route you take most will charge 1% above bank rate, if you want too borrow mega too ensure large house , keeping payments too minimum., Is Interest only mortgage spread over longest possible term, never own the house as such but is good for long term as can continue too save, will increase equity in long term, pay off when you sell.,
down size, can buy new with equity, Good points you can buy (more cash) in better area. can use equity release too re: mortgage best for building project too increase equity.
Down point not many will grant interest only mortgages will have too search around.
Is for the long term plan only Just sold our 7 bed house (30 year Term). Had enough equity to buy new outright with a little left over.

boysmum51 Tue 07-Jul-15 08:48:14

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