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Valuation Retention drops to less that required LTV
Hi I have just had a valuation for a mortgage (RE) that has come in at 80K with a recomeneded 2k retention so 78k. In order to get the 60k the Chelsea will only approve a 75% LTV. This would make the required valuation to be 80K. So how will the retention affect this? Will they say that its only valued at 78k and therefore…
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please help mortgage query
We have a mortgage running out on 31st jan 2009 with nationwide fixed at 4.89% and options are to go : Go on nationwide standard variable at 4% we have a tracker reserved with First active 0.79% above interest rate (2.29%). To do this we need to find £1900 (as we only got 76% LTV instead of 75% and there is a £999 fee…
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Woolwich Advance
I thought people may be interested in a call I had today with the Woolwich. I wanted an extra amount to repair my roof. After going through everything I was advised today the criteria had changed. Now if you are single you must have £551 spare cash left over after pyg mortgage etc £771 if a couple and an additional £125…
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Consent to Let/Lease with Halifax
Hi, We are in a situation where we have decided to let our present house instead of selling, to enable us to move to a new house. We have got an advance on our present mortgage with the Halifax to give us the deposit on our new let to buy mortgage with the Abbey. We are now in the situation where we need to advise the…
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Latest 1% Cut...
Hi can anyone tell me if the halifax passed any of the last 1% cut on to mortgage holders. Thanks A
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Split from partner, mortgage advice needed please!
I split up with my partner (we are not married) about a year ago. We have a joint mortgage and the property is currently let out to some friends of ours on a non-contractual basis which covers the monthly payments. It is a condition of the mortgage that we don’t sell the house for 2 years after we bought (there are about…
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First time buyer or next time buyer in Lender's eyes?
Potential Scenario: A married couple. Husband's already got 3 BTL properties Wife's not got any Currently both renting. Now both want to buy a house together. When they do a joint mortgage application, can they go through as a First time buyer (because of Wife) or will they be classed as 'Next time buyer' (because of…
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Mortgage Advertisment in the Paper.....
Must be the first time for months- a bona fide mortgage ad! C&G advertising their 4.99% 10 year fix on page 16 of the Indy today. Green shoots? Well, as there is a half page advert for the Samaritans on page 17, and the same on page 18- probably not... ;)
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Can you re/negotiate your way out of a fixed term deal?
Hi Everyone I took my mortgage out in May 2008. I was a first time buyer and took out a 95% mortgage with Barclays. I'm tied into a two year, fixed rate deal which has an interest rate of 6.9%. So I am paying £728.11/month for my £105,000 mortgage. This was a managable amount back in May last year however my income has…
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Existing mortgage - no equity
Our excellent tracker mortgage finishes in October. We also have a secured loan on our property so we currently have no equity (with the fall in house prices) We have never missed a payment on our mortgage and are not behind on any other loans or utilitity payments. Will they just allow us to swap to a new deal in October…
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Overpayment on a IVA
Does anyone know if overpayments on your mortgage is allowed whilst in an IVA?
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Im off to see nationwide in an hour..
Hi, Our 5year fixed rate at 5.5% finishes in November. We are moving house now and so need to borrow an extra 30k to do this. I have an appointment today at 230 with nationwide to discuss how to do it. Any questions I should be asking? things to look out for? we can port the mortgage - does that mean at the rate it is now?…
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update on 3.99% 2 year fixed (pls help)
just got some more info from my gf, she is already with L&C, and has been offered the 3.99% for 2 years, with a £995 lender fee and £250 cashback, so pls excuse my ingorance its not a broker fee, i looked on their website and saw 3 years at 4.39% and 5 year at 4.94%, the fee was £995 on the 3 year and free on the 5 year.…
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Does it matter where your deposit came from? Advice please
Hi everyone I'm at the moment going through the motions of getting a mortgage at the moment. Everythings been going fine up till them querying where my savings come from. I'm not a money launder of anything like that, but i told them that it came from savings even though that was a half truth. I didn't think it would…
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Is it a good time?
Hi my girlfriend and I have found a house we really like and have enough of a deposit to afford 10% + fees. My only concern is, Is it the right time to buy and get a morgage? There is so much media saying the government are trying to get the banks to lower their interest rates. We can afford the repayments that have been…
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How long does offer for compensation last
I was offered compensation for a mis sold endownment policy in 2004 but at the time chose to retain the policy as the company gave a promise to top up the final amount to nearer the target. My circumstances have now changed and i have requested a surrender valuation which is less than the amount I was offered in 2004…
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Overpayments
If you can only overpay 10% a year, is it better to pay a slump sum now or pay monthly? Can't see the downside to paying monthly and getting the a little interest?
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My mortgage application
Hi all, Awaiting on news form Abbey regarding my application. They keep loosing paperwork, requesting things that have been sent, constantly requesting new information that they could easily have foreseen requiring back in Oct/Nov when we first applied (application was put on hold mid Nov to 20th Dec as original house fell…
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My deal ends in March
with Nothern Rock and last week they phoned asking if i wanted to remorgage with lyods.Just recenty i found out i have a settled default on my credit report would it be best to just stay with northern rock or try to get another morgage?
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Switching Mortgage Advice
Hi people, I have just recently received a letter from Mortgage Express informing me that they wont be able to offer me a new rate at the end of my current term (fixed rate - Dec 09). It also stated in the letter that if we wanted to switch lenders early, they would waiver any charges that may of occurred. In the past a…
