Mortgages, remortgaging and buying houses – Daniel Bell

Daniel Bell for Smart Divorce

In this episode, Tamsin chats with mortgage adviser Daniel Bell. They cover the basics around getting a mortgage and why it might be useful to speak to an independent adviser rather than just your own bank. They also talk about remortgaging and moving house.

 

Daniel Bell and his growing team are highly respected, award-winning mortgage advisers working from offices in both Manchester and Liverpool city centres. They are able to provide every aspect of your property needs from first-time buyer mortgages through to multi-million pound commercial deals, as well as sourcing the right policies you need to protect your investment.

Integrity, Client Care and Tailored Relationships are are the pillars of Bell Financial Solutions and Daniel has come from a strong background in Financial Services, with industry leading knowledge backed up by strong qualifications, credentials and a commitment to regular ongoing training. When not crunching numbers n a calculator, Daniel loves playing with George the Dog and long walks with both him and his partner Sam.


Tamsin is a Chartered Financial Planner with over 20 years experience. She works with couples and individuals who are at the end of a relationship and want agree how to divide their assets FAIRLY without a fight.

You can contact Tamsin at tamsin@smartdivorce.co.uk or arrange a free initial meeting using https://calendly.com/tamsin-caine/15min. She is also part of the team running Facebook group Separation, Divorce and Dissolution UK

Tamsin Caine MSc., FPFS
Chartered Financial Planner
Smart Divorce Ltd
https://smartdivorce.co.uk

P.S. I am the co-author of “My Divorce Handbook – It’s What You Do Next That Counts”, written by divorce specialists and lawyers writing about their area of expertise to help walk you through the divorce process. You can buy it by scanning the QR code…

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Transcript

(The transcript has been created by an AI, apologies for any mistakes)

Tamsin Caine 0:06
Hello, and welcome to the Smart Divorce podcast. In series five, my guests will be helping you to come out of your divorce, dissolution, or big breakup and create a different you move forward with the things that you want to be able to achieve and think about things differently. I really hope you enjoy this series. I’m your host, Tamsin Caine. And we’ll be meeting some fabulous guests. I hope you enjoy them. If you do have any suggestions as to for the guests that we could have on then we’d be more than delighted to hear from you. I hope you enjoy! Hello, and I am delighted to be joined today by Daniel Bell of Bell Financial Solutions, award winning independent whole of markets and mortgage advisor, and Bell Financial Solutions is Daniel’s fabulous company. And we have worked with them for the last few years for our clients. And they have done a pretty sterling job. So Daniel is here today to give us some updates and talk about mortgages, post divorce. So welcome, Daniel, how you doing?

Daniel Bell 1:23
Very well, thank you for inviting me on.

Tamsin Caine 1:25
That’s my pleasure. Like in your background. For those of you who are listening, it’s got some lovely palm trees, a very nice looking background there and feeling like I’d quite like to be amongst some palm trees today, on this Monday morning that we’re recording this. So going to want to start a bit a bit with the basics, aren’t we today? So log in mortgages? Why? Why am I not going to go to my local branch of my bank? Why am I going to come to an independent financial mortgage advisor.

Daniel Bell 2:01
So go into your bank, society is great, they obviously knows quite a bit about you. And obviously people feel that they’ve got a loyalty to their bank and building society. However you bank or you’ve done society that you have backed with, they can only offer their own products, and they can only go with their own criteria. And although that you may have banked with them for 510 1525 years, they still have to stick to the book. Whereas you know, your situation, post divorce can be quite complex. And it can be quite disheartening go into your bank, thinking that you’ve got this great relationship with them. And they turn around and say computer says no. And that can happen. And then you think that you are mortgageable. And that’s certainly not the case. A mortgage broker such as myself, Hall of Marquette, has about 150 Different mortgage lenders at the moment, just because your bank says no, doesn’t mean another banks gonna say no, there’s lots and lots of different lenders out there that have all got different types of criteria, you know, different appetites of risk. And just because your bank doesn’t, isn’t able to lend on that situation, doesn’t mean another bank will not lend on that situation. Someone like myself can think outside of the box. And we also know what lenders do and don’t accept. And and that’s where, you know, we really come into our own with our knowledge and experience to be able to look at your situation and go, Okay, well, you know, that lender? Certainly, that’s not the lender we want to go to because they don’t accept a Y and Z. But this lender will do you know, BDNF, and that’s where that’s, that’s where we work.

Tamsin Caine 3:51
Yeah, absolutely. So your bank may or may not lend the number of times income that you need, they might not go up to the term of mortgage that you need, they might not accept certain incomes, that you’ve got that you want to use all those sorts of things. So you could save a huge amount of time essentially, coming to you from the earth because you’ll note, well, I’m not gonna go to those banks.

Daniel Bell 4:21
Absolutely. You know, I’ve done this for, you know, X number of years, and I’ll know straight away from talking to you and do my fact find with you and getting to know you and building that relationship of knowing straightaway. I know that lender, you know, I won’t take into account, you know, that, then you’re going to receive because it’s voluntary maintenance. So, you know, it’s not caught holding. I also know that you know, because you’re self employed and you’ve only been self employed for a year, and we can go to that vendor because they’ll take that into consideration. So yeah, I know all that because I’m doing this day in day out. I know the industry I know the lenses knishes what they do and do change and you know, things have changed with COVID, etc. And I keep up to date with that. I, you know, I do my training every year. But obviously I’m doing everyday as well. And obviously, I’ve been doing this for about 15 years now. And so, you know, lenders come and visit me lenders come and tell me what they do and don’t do, because they want me to be able to put clients their way. Of course, that’s where you’ll save the time and potentially money. But also, you know, the efforts as well, you know, we look after everything for you try and take that stress law hassle away of you getting all those potential knock backs, and it can be disheartening going to different banks and building societies and being told, No, no, no. When actually, I can say or someone else similar to me, you can go yes, yes, yes. Here are the actual different options.

Tamsin Caine 5:55
Yeah, absolutely. And from it a starting point. You will talk to people about how much they might be able to borrow as an absolute maximum and what it’s gonna cost and all that sort of thing before they found house people you know that you can you can do some preparatory work with people upfront.

Daniel Bell 6:18
Absolutely. So when we do a first appointment, we asked for certain documents upfront, typically an employed person Freeman’s payslips three months bank statements, self employed person, it varies, it depends what type of setup they’ve got, they’ll always include free months bank statements, okay. And because we get that information upfront, and I know that whatever I talked to them about what offer we’re going to get generally, because I’ve checked those documents upfront. So what I do from those documents, I do, you know, some calculations with different lenders, and we generally get you agreed in principle, okay, now, that doesn’t secure you, a mortgage lender or an interest rate. But what it does is it’s me as a financial adviser saying that I’ve looked at your situation. And I’ve approached lenders, and I know that we can get you a mortgage of up to X amount based on your circumstances with that level of equity or deposit you’re bringing, and you will therefore be able to re mortgage a property of X amount or buy a property of X amount going forward. But I know it’s concrete to a degree because I’ve already checked those documents, because you’ve brought them with you. We also sometimes ask for a copy of your credit report. And we can always help you get that. So we know that everything in the background is accounted for. And that’s what agreement in principle is, and to make sure that we aren’t getting you that. And again, just following on different lenders offered, you know different ways of calculating income. When one lender can offer X amount, you can find some lenders can offer 10s of 1000s of pounds more, because they calculate income in different ways. They accept different amounts of income, or they take, you know, different deductions from income as well. And again, that was where a broker really helps.

Tamsin Caine 8:04
Yeah. So what we what we don’t want to say is, oh, as a ballpark, you might be able to get excellent return to your income. Because there could be lenders that can go more than that, you might be in a position where depending on what liabilities you’ve got, or where your incomes from that it could be less than that. So it’s really important to speak to you before you go to anyone else. And the other thing to mention it is that estate agents often require that agreement in principle as well, don’t they?

Daniel Bell 8:31
Absolutely, a lot of estate agents will now ask for that up front. And that’s because, you know, they want to know that the people that are viewing properties are serious people, but also people that have, you know, done the first step, which is checking their finances or right, but also from your point of view as well. You don’t want to be doing properties, and potentially falling in love with a property to then find out that you can’t get that property. And again, that’s what they want for their clients. They want to know that if you’re viewing that property, and ultimately you do fall in love with it, you’re going to be in a position to proceed. So yeah, a lot of estate agents do ask for them upfront. And again, with the property market as it is currently with proxies potentially, you know, going above and beyond their their value, or not even making it to right move, the more important than ever to make sure that you’re in the best position as a buyer to be able to make that offer straight away with confidence to then obviously go on to hopefully purchase it. If that’s the case.

Tamsin Caine 9:33
Perfect. Now I really appreciate that. And the other thing that was just thinking then when we were talking about state agents and so on, is deposits. Is there a minimum amount of deposit percentage wise that the lenders look for now

Daniel Bell 9:49
5% And the government stepped in just over a year ago and introduced the mortgage guarantee scheme, which basically meant they He’s sort of backed up lenders and said, if you start lending 5% deposits will back you up. And but a lot of lenders now have moved away from the scheme and actually just offer 5% mortgages themselves now. And the interest rates aren’t ridiculous either. So yeah, 5% as a minimum, I am and then the sort of tip down, but they’re not, they’re not ridiculously hard to get the relatively easy, but you know, they’re at the higher end. But 5% is, is a rule, if you’re looking at new build properties, there is still a Help to Buy scheme, it’s slightly different to the current schemes that they have a there’s a cap, so it’s only two properties around 210,000, in the northwest. But with that scheme, the government will also give you a deposit of up to 20%, on top of any 5% deposit plus that you have. But that’s only on new builds. And it’s only currently up to properties of 210 files, and there is a cap in the Northwest extra level of deposit available from the government there.

Tamsin Caine 11:09
That’s that’s useful to know, and to other areas that I just wanted to touch on while we’re talking about the basics. And I’m quite often told by clients that there’s no way they’ll be able to get mortgage because they’re self employed. Could you please smash that myth into smithereens for us?

Daniel Bell 11:31
Smash? I mean, I’m self employed, I just moved six months ago. And I got a mortgage? No, of course. I mean, it’s probably the hardest mortgage I’ve ever had to do only because I’ve looked at a little more detail. But no, no, it’s not hard to get a self employed. For this, that’s not what I was playing, of course, there are lenders that, you know, may be a little bit more cautious. But there’s lots of lenders that, you know, that’s their niche, that’s their bread and butter, that’s what they absolutely concentrate on is, you know, they’re like, We want to lend to self employed. That’s our, you know, that’s what we want. And again, as I said earlier, you know, in terms of what documents it bring, it really depends on the type of self employment, you know, we’ve got limited companies, we’ve got some self, sole traders, we’ve got partnerships. And again, they can be more complex in their own ways each each of those, we’ve got one year, you know, accounts, we’ve got people that might have gone from sole trader to limited and there’s loads of different lenders that, you know, again, have further niches on them. So no, it’s not, it’s not a no, no, it just is going to the right lender, and knowing what you’re going to the lender with. And again, knowing how income is drawn from the profit from the business, etc. And again, that’s really where you need a broker that knows what they’re talking about, and understanding how, you know, self employment works. Because again, if you know, if you walk into a bank or even, you know, brokers that are necessarily experienced, and you start talking about your limited company, or your, your sole trader and showing them accounts, etc. And they don’t understand that, you know, in not knowing, you know, what lender they can then go with, then, yes, it might be, you might think it’s hard to get a mortgage, but actually, it’s just because you’re not going to the right place.

Tamsin Caine 13:22
Excellent. And it’s not, and hence, you mentioned one year accounts there. So three years accounts is not essential before, before you look to buy if you’re self employed?

Daniel Bell 13:36
Not at all, and even it’s not free as accounts generally for a self employed, they’re usually looking at two, but no, there are lenders that will look at one year’s accounts. And again, it’s going to the right lender. And again, it’s using the right broker, because if you know, a broker has a relationship with a lender and stuff and they can, you know, I’m given the right picture of, you know, why the, you know, why the client has come to you with the one year’s accounts what they were doing previously, you know, and that’s the broker having that relationship with their client, then, you know, it’s that overall picture of, you know, working with your client and working with the lender. But yeah, no, it’s it’s certainly doable, and it’s certainly not difficult. There are lenders are eager to lend and even with you know, I hate to see interest rates going up lenders are still eager to get money out there and lend money and that self employed employed and you know, people in between

Tamsin Caine 14:36
Excellent. Okay, one more that quite often comes up because might be tricky, is about poor credit. So I suppose we could cover the whole spectrum. So if you’ve got from everything from a missed payment on a catalogue, for example, or all the way through to bankruptcy or and I VA where where do we stand with, with mortgages for people who’ve got issues in their credit history?

Daniel Bell 15:06
Okay? Again. So there’s a couple of things that lenders take into account. And again, you’ve got lenders that have got niches. So you know, you might have your sort of high street bank that is very much computer says, okay, but then you’ve got lenders that are very sort of manually underwriting cases. So they’ll look at cases and take your view, okay? That potentially might be the source of lender you want, if you know, there’s a bit more adverse there. So when we say adverse, we mean bad credit, and there’s a story to tell of why there’s that bad credit, you know, whether that be, you know, a breakdown in a relationship, or whatever it was, if we can give them a good story, and someone can take a view, then that might be the lender, if it’s the ultimate payment, you know, the computer type lender, with maybe a better rate, they might still go through, again, it’s having that right broker that knows that, when you start getting into maybe more complex adverse bankruptcies and RBAs, it then sort of comes down to a length of time how historic they are, you you’re very recent bankruptcies and IVs, potentially, we’re going to struggle with, but again, there are lenders out there that will do it, it’s then going to be sort of rate driven. Again, if they’re more historic, it’s having that knowledge and experience with them what lenders to go to, because there are lenders that will do it, there’s, I always say, everyone is mortgageable. Everyone is mortgageable, it’s just, when and how. And that’s where, you know, I certainly, you know, love having that relationships with clients and coming into my own, because it’s just finding out what the situation is how it happened, when it happened. And then it’s like, right, when can we say yes, so everyone is mortgageable? Everyone bankruptcies, right up to, you know, a perfect, clean, clean, clean credit. It’s just when and how so? Yeah, don’t dismiss yourself at that.

Tamsin Caine 17:15
Just finding the right lender, isn’t it?

Daniel Bell 17:17
Absolutely. And what I would always say with credit, is open and honest with your broker. Because you’ll find that when declines and stuff start coming through, is because people haven’t been and it’s certainly not something to be embarrassed about, you know, a broker is there to help you. And if you go to your broker and ask for help, and you know, that bus, that’s what we like to do by No, that’s what I like to do anyway.

Tamsin Caine 17:42
So absolutely. And sooner or later, if you do try and hide any call credit that you’ve gotten history, it will come come out in the in the credit scoring process anyway, won’t it and just cause delays that weren’t necessary. If you know what, from a new, you can help to put that with the right bracket.

Daniel Bell 18:00
I know, I can literally go, right, that’s a no, no, no, no, no, because I know they won’t accept that Miss catalogue, because it was in the last six months. Straightway they don’t get, they don’t care. And that’s the you know, and that’s where, you know, having that relationship with a client, you can have with a being, you know, an independent broker, which you’re going to struggle with more if you’re talking to so and so in the bank. Because you know, that their nine to five and you know, they’re restricted by sort of their office space, you can start to, you know, really learn about the more emotional side of what they’ve gone through and, and go from there.

Tamsin Caine 18:39
Sure, absolutely. Okay. So let’s get stuck into some of the situations that our clients might find themselves in, when they come out of their divorce. So one of them is, I work with a lot of people who are perhaps not the money person in the relationship. So they might have not been responsible for arranging mortgages in the past, or, or having anything to do with the mortgage really. So let’s talk about what happens when you come to the end of a fixed rate, for example, whatever deal you happen to be on, what what should we be looking at, what should we be doing at that point?

Daniel Bell 19:21
So generally, when it comes to the end of your deal, you need to start looking about three months before, okay. Don’t leave it till the last month, because there’s a process that happens. Generally, as a rule of button, you’ll probably move your mortgage to another mortgage lender. There’s not really loyalty in the mortgage world, ie your current mortgage lenders, your with probably won’t offer you the best rates available on the market, which is why we say you start looking about three months before and that’s where again, you’d probably approach a broker because a broker is going to be looking at the whole of the market. That’s what I them. And that’s what you want to trick, make sure you’re talking to a hole of market broken, because not every brokers hole of market. And they’re going to look to try and make sure that they get you the cheapest product out there next best to what yours is, if that’s all you’re doing, which is switching to the next best rate, because there were other things you can do when you’re coming to the end of the deal, borrowing more money, changing the term etc. And you then apply for that mortgage at that time, supply all your documents at that time, and you get underwritten and approved at that time. And then there’s a bit of a legal process that happens for that mortgage lender to then take over your current mortgage lender at the end of that time in three months. But that legal process can take a little bit of time to happen. Because it’s not a purchase, there’s no initial rush. And that’s why we say free months, because one, it gives you a chance to find the lender and get approved. And then it also gives enough time for that mortgage at that legal process. Sorry to happen until you get to the end of your current mortgage, which is usually the end of the month, in which case the solicitor acting or the conveyancer acting for your new mortgage lender will then pay off your current mortgage lender and your new mortgage will start. That’s it in a nutshell,

Tamsin Caine 21:26
Perfect. And you mentioned that there are some other things that you might want to do at the same time as as you organise your product. So he or the from, from one product to another or from one lender to another if you’re if you’re remarketing to a new lender, at that point when you deal comes to an end. So you mentioned maybe borrowing a bit more and also perhaps changing the term of the mortgage, can you just run through a bit about why you might want to do those things and what the process is in those cases, of course.

Daniel Bell 22:03
So when you do a re mortgage, you’re totally you’re taking out a new mortgage. Okay? point you can therefore, take out whatever you want, you’re paying off your mortgage. So whatever you agreed with your old mortgage doesn’t matter, now you’re getting a new mortgage, your only obligation is you have to pay off that old mortgage lender. So mortgage lender A, if you owe 100,000, mortgage lender B, you have to take out at least 100,000 Unless you’ve got money in the bank that you can cover the difference to pay off mortgage lender A. So with mortgage lender be your new mortgage lender, you might want to take out money to finish off a bathroom, take out a home, do an extension, pay off some debt that you might have accumulated or pay off a divorce settlement or buy someone out of the property. You can also at that time as well change the term, because it’s a new mortgage if your current mortgage is over a 25 year term, and you’ve now got 23 years left, but you’re coming to the end of the deal and you’re taking on a new mortgage, let’s say you’re taking it on in your own right or circumstances have changed. And you know, the current mortgage payment might be a little bit too much. Or you might actually think you can afford to pay more, you can then stretch it back to maybe the 25 years again, or you could shorten it to 20 years, if you want to start getting it paid off quicker. Basically you’re taking out a new mortgage, so you can change whatever you want about that. And so then obviously suit your circumstances at that time. So you could take out 110,000 100,000 pays off the original mortgage a, you’ve got 10,000 left, you could use that to do what you need to do. And that 110,000 could be over 25 years, whereas your current mortgage is over 23,000.

Tamsin Caine 24:00
Can you do that even if you stay with your existing lender?

Daniel Bell 24:04
Generally not. If you’re going to stay with your existing lender, you’re doing something called a product switch or rate switch. And that’s what it says on the tin. You’re literally switching the rate. And that’s it. So no. And that’s when you definitely need to move to a different lender because you’re taking out a new mortgage, whereas with your current lender, you’re just doing a rate switch.

Tamsin Caine 24:31
So now and the product switch is is not not underwritten, so you’re not you’re not being required to produce any new documentation etc. You’re just literally moving from one product to another but if you re mortgage all documentation is required again.

Daniel Bell 24:47
Yes, and it’s a good point to raise, that you may find yourself in a situation that you’re now in at a point that your circumstances has changed. So much since you took out the original mortgage that you might not now be in a position that you could take on a different mortgage. If you’re with your current mortgage lender, that mortgage lender already has a mortgage with you, you don’t need to ever need to re produce your finances if you stay in that property with that mortgage lender. So you can always do a rate switch at the end of every put, without having to reproduce anything without ever having to be underwritten. So you’re never going to find yourself in a position that you’re going to jump on to a super high rate, because you can’t get a mortgage, because you’ve all of a sudden your employment status have changed, or something of a similar nature, you’ll always be able to stay with your lender and get a different rate. So yes, it’s a good point to raise.

Tamsin Caine 25:55
Lenders always offer rates, which they’re never gonna make you stay on the standard variable rate.

Daniel Bell 26:03
Unfortunately, I have come across the odd lender that doesn’t offer a rate switch, however, you will find those types of lenders are very niche lenders, they’re very few and far between. But your general High Street lenders, you’ll always be able to get a rate switch. And I have to add in that caveat, Chris, I have found the lender that doesn’t offer a rate switch.

Tamsin Caine 26:29
Just worth bearing in mind. Okay. So that’s great. So we’re sorted out if we’re, if we’re remortgaging if we want to do work to the house, if we want to just just get on a better deal. What about moving house, so let’s say I am the family home at the moment, have come to the end, perhaps the semester or so. The youngest child is 18. And we now need to sell and buy a new property bought never bought a house in my life before. Well, where do we start? Me? failing? That might be the answer done? Yeah. Yeah.

Daniel Bell 27:12
No, I’m not here to push any of my services on people. But you know, someone, certainly, like me, someone independent. And, you know, I have people that come to me and don’t necessarily go on to, you know, finish off an overall mortgage, but you know, you need to get that right advice. And, you know, know exactly what all your options are, get everything on the table, all the cards. And you know, most of my first, second and third meetings are, you know, clients will come to me with that. And then the first meeting, we’ll get it down to that. And then the second meeting, we’ll get it down to that, for those of you that are listening and not seeing what I do with my hands, you know, we might start off with, you know, 100 ideas, we get it down to 70 ideas, and then we get it down to maybe 10 ideas. And it’s just about you know, exploring those options, because there can be so many. And for, you know, looking on Google or talking to your friends down the pub, you’re not necessarily going to get those right answers. So where do you start? You need to start with the right person and the right advice. And that’s certainly going to be, you know, an independent mortgage broker.

Tamsin Caine 28:27
Yeah, absolutely. So we’re starting off, we know we’re going to sell the house, we start off going to see a mortgage broker, and we got the agreement in principle that we talked about before. And that’s before we even start thinking about looking at properties. But I guess one of the big questions, that is something that I’m asked all the time, do we put our house on the market before we found somewhere? Or do we go looking for our new house before? How what’s what order? Should these things be done?

Daniel Bell 29:03
Really a darling million dollar question, I, I believe you should put your property on the market. As soon as you can really, and start looking at the same time, you’ll get you’ll always get someone around to value the property. And I think that you know is generally going to happen as part of what you would suggest anyway, turns in and you’ll have a rough idea of what you’re going to get. And then the value is going to confirm that and then you’re going to get the property on the market. But you’ll also find as well as you start to go and look in and look at your own properties that you want to make offers on. You want to be in a position that one your property really needs to be on the market before anyone’s going to take any offer seriously, but be on number two, and you would hope that your property is going to sell quite quickly so that when you do make that offer, potentially you could be making that offer when your property sold subject to contract anyway, which puts you in an even better situation. But if you start making offers and your property is not even on the market, you have a big high risk that you could lose that property that if it is even accepted, because I don’t believe a lot of agents will, I know wouldn’t accept an offer anyway, if your property wasn’t on the market. And certainly if it did get accepted, and then your property took, you know, X amount to even get sold, or we then find out because it’s not getting sold, you’re not getting as much money, as you might have thought, therefore, the property you’ve made an offer on isn’t actually now a viable option. And therefore, that’s why I think you need to put the property on the market first, then start looking or looking at the same time at that point.

Tamsin Caine 30:46
Okay, that’s good advice. I know a lot of people worry about, well, you know, what happens if I put my house on the market? But then then I don’t find anywhere, you know, or my house soul sells? And I don’t find anywhere that I want to move to? What, what happens, then?

Daniel Bell 31:06
Well, that’s down to your buyer. I’m, you know, ultimately, you’re looking. And if it gets to a point that you feel it’s going on too long. That’s a conversation for you to have with your solicitor and the buyer’s solicitor. And, you know, does your visual buyer still prepared to wait? Or does your buyer need to pull out and ultimately, if your buyer still prepared to wait, great carry on looking, that’s, you know, that’s, that’s, that’s perfect situation, if you buy a can’t wait a needs girl, then sorry, but they need to pull out, and then your property goes back on the market, and you find another buyer, but you’re not in any different situation than you would be otherwise. Because you’re still looking for a property. But you know, that’s just a call that will be made, if you don’t find the property. And ultimately, you know, it’s not changing the situation accordingly. And that’s why I’d say you just still put it on the market anyway, I think you’ll find that a lot of cases, if someone really loves your property that much that they’ve made an offer on it, they will generally hang out for you, unless there’s a real reason they need to pull out. And that can depend on things like how big is the chain? Are they getting pressure from their buyer, if you’re a first time buyer, genuinely find the low hanging? Again, there’s lots of reasons and it’s just a conversation you have if you get to that point.

Tamsin Caine 32:34
That’s that was really good advice on that. Because I know a lot of people do worry about, you know, being forced out of their home and nobody can force you out of your home, having enough fur on the property doesn’t doesn’t mean that you’re gonna get chucked out at some point. I know some people do make decision to move out and perhaps to rent a property instead. But that’s, that’s a personal decision, isn’t it?

Daniel Bell 32:59
Exactly. It’s your choice at the time, no one can force you out of your property. You know, you decide, and you just have a conversation with your buyer. Look, this is a situation, are you still prepared to wait? If not, then unfortunately, you’re going to have to pull out because I’m not moving out. Unless you decide you do want to move out. And again, it’s your choice at the time, and it’s a conversation at a time, but that time might not even come. So you know, that’s that’s where you are on that.

Tamsin Caine 33:26
Perfect. That’s brilliant. We’re coming to the end of our time talking together today, Dan, and I wondered if you had three top tips for people who were looking for a new mortgage,

Daniel Bell 33:42
independent hole of market broker. And like I say, you need to make sure that they are whole of market because not everyone is okay. Get an agreement in principle, I’m before you start looking at properties, okay? Because you want to make sure that you’re looking at the right sort of remit. My third tip, enjoy it, you know, it’s, it’s, you know, this is the next chapter in your life, whatever that chapter might be, but, you know, just just enjoy it, it can be stressful, but try and let someone else take that stress away from you. And you know, if not just take 10 Go back to it and and you know, just enjoy it because there is the next chapter.

Tamsin Caine 34:30
I love that I love enjoy it because you get the opportunity to nosy around other people’s houses which is got to be a big favourite of mine. So, Daniel, thank you so much for joining us today. If anybody listening wants to get ahold of you because they need some help and they need some advice. Where should they track you down?

Daniel Bell 34:52
You can visit my website that we do www.Bellfinancialsolutions.co.uk all my details are on there.

Tamsin Caine 34:58
Perfect and we will We’ll put Daniels details in the show notes for today as well. So thank you for joining me, it’s been a pleasure to speak to you as always at home. We’ll see you soon.

Daniel Bell 35:09
Thank you for having me.

Tamsin Caine 35:15
I hope you enjoy the episode of the Smart Divorce podcast. If you would like to get in touch please have a look in the show notes for our details or go onto the website www.smartdivorce.co.uk. Also, if you are listening on Apple podcasts or on Spotify and you wouldn’t mind leaving us a lovely five star review. That would be fantastic. I know that lots of our listeners are finding this is incredibly helpful in the journey through separation divorce and dissolving a civil partnership. Also, if you would like some foot further support, we do have Facebook group now. It’s called separation divorce and dissolution UK. Please do go on to Facebook search of the group and we’d be delighted to have you join us. The one thing I would say do please answer their membership questions. Okay, have a great day and take care

 

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