MMP131: Applying for a Mortgage, with Andrew Montlake
The Meaningful Money Personal Finance Podcast
Pete Matthew
4.9 • 1.7K Ratings
🗓️ 14 October 2015
⏱️ 36 minutes
🧾️ Download transcript
Summary
The mortgage application process got more difficult last year, and right now, I’m experiencing this first hand. Today I talk to leading mortgage broker Andrew Montlake of Coreco, and he’s going to tell us what we need to KNOW, and what we need to DO when applying for a mortgage.
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Sponsor Message
This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support. You can see what they’re up to at 7im.co.uk
In this session you will discover:
- What the mortgage application process involves
- How the Mortgage Market Review has made applying for a mortgage more difficult
- Why affordability is a bigger deal than income multiples when working out how much you can borrow
- How to make your life easier when applying for a mortgage
- The advantages of using a mortgage broker over going direct
Since recording this session, my mortgage has been agreed, thankfully! But the whole mortgage application process has really got me thinking and I'll be putting together a blog post about it very soon. in the meantime, there is tons of value in this conversation with Monty - enjoy!
Transcript
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| 0:00.0 | Hi folks and welcome to the Meaningful Money podcast session number 131. You're not going to lose the house. |
| 0:05.7 | Everybody has three mortgages nowadays. This is the podcast dedicated to helping you put your |
| 0:16.6 | finances in order. My name is Pete Matthew and I'm going to share with you everything you need to |
| 0:20.7 | know and everything you need to do to secure your financial future. I'm here to help you make |
| 0:25.7 | sense of money. Here we are once again, folks. Great to have you with me once again. Coming to you live, |
| 0:42.1 | what a ridiculous use of the word live. Of course it's not live. It's recorded. But anyway, |
| 0:46.9 | coming to you from Penzance in the very far west of England. Wherever you are in the world, |
| 0:51.4 | I know I've got folks listening to me in the US, in the United Arab |
| 0:54.7 | Emirates, all over the world, it's amazing. As I stand here in front of my mic, talking basically to |
| 1:00.4 | myself into a cupboard, it's amazing that so many of you are listening to me all around the world. So it's |
| 1:04.6 | great to have you with me once again. Now, the mortgage application process got a lot more |
| 1:09.6 | difficult last year, particularly here in the UK. |
| 1:13.2 | Right now, I'm experiencing this firsthand, which I'll come to in a minute. |
| 1:16.9 | But today I'm going to talk to a leading mortgage broker guy called Andrew Montlake of a company called Coraco. |
| 1:22.7 | And he's going to tell us what we need to know and what we need to do when applying for a mortgage. |
| 1:28.9 | Now, by necessity, some of this is going to be UK-centric. Obviously, you know this is a UK-based podcast, but there's some |
| 1:32.8 | principles here for everybody. So listen up for that. Stay tuned. That'll be coming very soon. |
| 1:37.4 | After we've covered that, as usual, I'll just read out a recent review that's been left by somebody |
| 1:41.8 | this week. I'll announce what we're going to be talking about next time, which is very exciting. But as always, before I get into any of that, |
| 1:48.7 | remember, this podcast is brought to you and continues to be brought to you with the help of |
| 1:52.8 | my friends at Seven Investment Management. They're a firm of investment managers based in London, |
| 1:57.9 | who specialise in multi-asset investing, something I bang on a lot about |
... |
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