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Buy to let?
I'm looking to buy a property from my brother and then let it out. Problem is, I haven't got the 25% deposit for a buy to let. So I was thinking, how about if I was to get a regular mortgage (at 10% deposit and a much lower rate) and then let it out. Would this work? Pitfalls? Thanks.
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New Mortgage Advise please
My partner owns the flat we are currently living in and it is getting a little cramped. We got the flat valued by an estate agent and says that we should be selling the flat for between 110-120k. We paid 146k for it in June 2006. At the moment we have saved up £32,000 and was hoping to use that to put as a deposit and fees…
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Homebuy direct or other schemes...whats the process
I am looking into these schemes as I want to buy a property ideally at the end of this year/early next year when I should be debt free but not have a heavty deposit. I have heard on these sites that the process is quite time consuming...so when should I be applying? If anyone could answer these questions, I'd must…
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Joint Mortgage - transferring one share to a third party?
Hi, My friend and I bought a flat together on a joint mortgage, each contributing 50%. I would now like my girlfriend to move in with me, and she wants to buy out my friend. Is this possible (if my friend agrees of course)? Can a third party buy out part of a joint mortgage? Any advice welcome. Thanks!
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conveyancy fee and re-mortgage.
Been getting quotes for conveyancing fees and I'm confused. I'm buying out my ex-partner and am lending the money from my existing lender. Now, because there will be an amendment to the deeds, the C&G insist that this will be a re-mortgage, rather than additional lending. Which is great because it means no fees and lower…
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Advice Needed
Hi I we have a secured loan on our house which we are struggling to pay so was thinking about a re-mortgage or if we could release some equity so we can pay this loan off , the loan we owe is £8,000 and the payments are £330 a month should of been £210 but we fell behind with payments ..our house is valued at £110,000 and…
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Advice please remortgage and consolidate
Was with Northern Rock until last year when I remortgaged just before credit crunch. Didn't save money but mortgage would be paid of 2 years earlier 6.4 % repayment over 10 years (I am 54). I have two loans which are lengthy and cost 600 per month. Looked on the internet and think I could save a few hunder per month if I…
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Advice Please
I am just entering Stressville. I am currently going through the process of applying for a mortgage via an IFA. Our application has got pre-approval and tomorrow we put the application in. Property worth £135k, mortgage for £96k I have just run my credit check with Equifax, just to be check things were as expected. I have…
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remortgage, or not?
Hi, Does anyone know why remortgage fixed deals are so poor at the moment (unless you've got 20-30% deposit)? Our 2 year fixed deal with Abbey will end in October, and the interest rate will drop from 6.29 to 4.24% SVR. This would obviously be a good saving. But i'm worried that should rates go up dramatically over next…
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When to jump from SVR
Hello all, I certainly don't expect a magic answer on whether I should be moving onto a fixed rate now or when to do it, but I am just interested to hear what other people (in the same boat) are actually doing. I automatically moved from a fixed rate back in March this year, as the current 2 year term ended. I'm with…
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Should I switch my mortgage now?
I have a bit of a dilemma - I'm on a fixed rate mortgage (4.89) which expires next August 2010. Should I hold off until then or should I switch now, as everyone seems to be indicating that the mortgage rates will be going up soon! Not sure if its worth redemption fee to switch at this time or not? Any savvy mortgage gurus…
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FTB Mortgage Advice
Hi, I have just been declined for a mortgage and would welcome feedback from anyone who can comment. Applicant 1: Male 27, £22500pa, full time permanent role been in job 2 years. Applicant 2: Female 27, approx £12500pa, Supply primary teacher, no fixed contract. We have lived together for 4 years and saved up for a…
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lOOKING FOR MORTGAGES but have CCCS debt management plan!
Hi, I am hoping someone might be able to help me. I am looking to sell my house to move area due to recently having a baby, we do not really want to increase our loan but currently only have about 8% equity. My husband and I are on both on "ok" wages and would be borrowing less than 3 x our salary however I suffered…
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Building Society error is costing me
History. Two years ago I sold my first house which I had purchased with a 5 year fixed mortgage. I lived there for 3 years and so had 2 years remaining on the fixed term. To purchase my new house I had to take out a further advance and here is the problem. I applied, through a mortgage broker, for a 2 year fixed term…
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Bank have lost signed loan agreement for mortgage
Hi My bank have contacted me 4 years after taking out my Mortgage and informed me that they have no copy of a signed loan agreement and the my solicitors also do not have a copy? Where do I stand with a: The rate I agreed at the time b: The money I owe? c: can the bank change the parameters of the loan? d: Can I get out of…
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First time buyer, looking for advice
Hi, I currently live in a flat that I rent from a family member. I'm now looking to buy the flat as I have now secured a permanent job. I do not have a deposit, but my father spoke to an advisor on my behalf who suggested I look into the LIFT scheme (in Scotland) for open market properties. I'm waiting to see if I will be…
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How much will I have paid off in 3 years?
Hi Can anyone calculate what the balance on my mortgage will be after 3 years? We remortgaged last year; our remortgage was for £187,500 at 8% (I know, it's high but we have an adverse credit file!). Anyway, our credit history should be fine in a couple of years and we will want to get another lower rate. Does anyone know…
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tax credits and mortgages
hi, does anybody know which benefits if any count as income for getting a mortgage, we currently recieve disability living allowance, carers allowance, tax credits and child benefit, thanks.
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mortgage overpayment
Hi everyone I'm new to this so please be gentle!! I have a mortgage which is coming to the end of its fixed term at the end of October. The mortgage is with Nationwide and is £60,000 on interest only and £26,000 on repayment. I am thinking of leaving the mortgage to go onto its svr of 3.99% after the fixed rate ends. My…
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Mortgage advice for second home with partner
hello and thanks for anyone that offers useful advice in advance. This outlines my current dilemma My partner and i have just sold one of our current houses for 125k, which leaves us with 1 more that has a mortgage for 73k (in my name, not a joint one) and is valued at 145k but am having difficulty selling it, as the…
