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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.

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

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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.

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....

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!!

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.

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.

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

Message deleted by Mumsnet for breaking our Talk Guidelines. Replies may also be deleted.

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.

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...

Mumpots Tue 17-Jan-12 21:59:17

I can't see what the big deal is here. Some of us have struggled to get a mortgage because we are foster carers, yet when we post helpful advice it doesn't seem to be welcome. It's beyond me I am afraid...either we want help, or we don't...

ImperialBlether Tue 17-Jan-12 21:40:42

I know bonnieslilsister in RL and can confirm she is a long standing foster carer.

I can quite see why she's sceptical. I've never ever seen people post phone numbers for mortgage companies on this site. People may recommend a particular bank but never ever include the phone number.

Reporting both as it's advertising.

fostermel Tue 17-Jan-12 15:25:10

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MumLovesYou Tue 17-Jan-12 15:03:29

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bonnieslilsister Sun 15-Jan-12 16:47:30

Anyone else sceptical about the last two posts? Someone selling mortgages methinks! Can spot it a mile off! Both written by same person with usernames never used before!

lovefrommum Sun 15-Jan-12 16:23:55

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MumLovesYou Sun 15-Jan-12 16:12:18

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bonnieslilsister Sat 14-Jan-12 21:55:17

I am a big fan of Steve. He helped me get my mortgage.

Jackyp1 Sat 14-Jan-12 15:30:45

I have to say thank you for all the above information. We have been foster carers for 6 years and only recently applied for remortgaging but were turned down "because our company doesn't take foster carer payments/work into consideration", and this was with our bank! They see the foster payments regularly going in each week and they still would not take the payments into consideration. We shall certainly try the companies suggested, again, thank you.

sianendsleigh Fri 13-Jan-12 16:19:11

Message deleted by Mumsnet.

Rubyx Tue 20-Dec-11 22:47:55

I think the best one would be someone like mortgage works, we have had 50K of them recently to buy a rental place... they are part of nationwide

Mumpots Tue 20-Dec-11 14:27:03

By the way, they do mortgages for buying, and for remortgages and you are also able to build in any loans or credit cards.

Mumpots Tue 20-Dec-11 14:24:58

There is a Mortgage Broker called Designed Mortgages who do mortgages for foster carers. They are so efficient I can highly recommend them. From application to Offer of Loan took 4 days, and they use well known lenders none of the obscure ones. I know of numerous people who have obtained their mortgages here, and they cannot speak highly enough of the service they got. Even up to 90-95% loans which was a huge surprise..and relief considering only 7 months fostering history. Their phone number is 01505-863775 and is definitely worth a phone call. A small fee is charged but well worth it. Good luck.

mumsiepie Thu 09-Jun-11 12:58:08

Yes, it is Stephen I am dealing with and it is almost finalised now! Thanks

FosterHolmes Thu 09-Jun-11 11:34:24

We have just had a mortgage approved. Stephen Holend from Endsleigh helped us get a mortgage with Nationwide, so it is posible for us FCs to get one.
Give him a try and good luck

WereOffToSeeTheWizard Sat 07-May-11 17:49:39

mm that does sound like a long story grin
thanks for letting me know

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