-
Buy to Let - Options?
Hi I have a bit of an issue I hoped someone might be able to help me with. Last year, I decided to take a sabbatical from work, so I rented out my property and received 1 years permission to let from my mortgage lender. At the same time I moved onto interest only whilst I was on my sabbatical. My plan was to move the…
-
85-15 Mortgages
Can anyone shed more light on the 85 - 15 mortgages currently being hawked by new build developers. Basically, they state you would have to find a mortgage of 85% and they would provide the 15% deposit which eventually becomes like a second charge on the property. You have 10 years to pay back the 15% as one lump sum. I am…
-
Buy or Buy to let
Can someone please help?? We currently have saved £8k to put down as a deopsit. The problem we have, we don't know weather to use the the £8k as a full deposit on a buy to let property in a different area at approx £80k value, or use the 8k as a 5% deposit in the area where we are currently renting (paying £600.00 pcm) and…
-
Buying a second home: rental income v deposit
Hi I have been unable to sell my current property due to the market, and am now keen to rent it out and purchase a new property as i am now really desparate to move location due to family health problems. I have £9000 remaining on my current mortgage and £12000 in savings. I could clear my current mortgage and have £3000…
-
Friends divorcing, worried about the house
Friends of ours are divorcing after 12 years together, my friend purchased the house around 13 years ago herself following the death of her mum and she paid cash £90k at the time with her inheritance. Up until 4 years ago there was no mortgage on the property but they split for a while back then, she ran up some debts,…
-
mortgages with compliance!!!!
ok so was recently purchasing a property which was declined by the halifax because the vendor was acting as a solicitor for it as well and also he had owned the property for less than 6 months, which did raise alot of concerns. anyway becuase of this i rose a "dissatisfaction enquiry" with halifax about it" in the mean…
-
Complicated 1st Time Buyer
Early next year myself, my husband and mother are looking at buying a house together. My mum will have some money (approx £100k) to put into the purchase from the sale of her house which she currently owns with my father who left her 2 months ago. Anyway, i only work part time (we have 3 young children) earning around…
-
Problem with Mortgage Shortfall!!!! Need help!
Hi, I have recently sold my flat for £85k which doesnt cover the mortgage which is £97k. However, I have a £10k unsecured loan on the mortgage so luckily this doesnt have to be paid on completion. The problem now is that once the solicitors and estate agents have taken their fees from the sale I will have a shortfall of…
-
Trying to forecast mortgage over remaining term
Hi Simple question I thought, but my mortgage company (Halifax) can't tell me. Basically I owe £153k, over 15years and 9 months, paying £1180 a month. So I'm trying to understand in 12 months time, and 24 months etc etc, what the capital amount will be approx. So far, they have told me that £528 was paid from the capital…
-
Redeem Endowment prior to ending mortgage
My wife has run up credit card debts of £27,000, £28,000 in bank loans and a £2,000 overdraft She needs to sell her house that we were renting out, even so she will still be in debt. If the house does not sell quickly is there any legal reason that she cannot redeem the endowment to keep the mortgage being paid?
-
Moving house without a portable mortgage
Our house is up for sale as I'm relocating due to work and spoke to my existing mortgage lender regarding what sort of price range we can look at based on our sale price and the fees associated with it. We were hoping to buy a similar priced property to ours, maybe slightly cheaper to cover the costs associated with moving…
-
Letter from broker about 'mortgage inappropriate to my needs'
I have received a letter from the broker who arranged my re-mortgage 3 years ago stating that the mortgage recommended to me may have not been appropriate and listed a number of reasons including Mortgage recommended would take me beyond retirement age Previous mortgage had a settlement fee which was added to mortgage Any…
-
90% mortgage's and meeting with advisor for 1st time
Good morning all, Hopefully be starting to apply for a mortgage this week I should be able to put down a 10% deposit and looking for a mortgage of around 55k. I've already spoken to an independent advisor over the phone at the estate agent were I seen the property I'm interested in. He has advised me that while mortgages…
-
g e money invitation to move mortgage
two weeks ago i received a letter from gemoney telling me that they have to inform me of mortgages with other companies which might benefit me. i ignorred the letter as i am only tied in to my 3 yr fixed rate until february and that if i finish early i will have to pay approx. £6000 in early penalties. yesterday i received…
-
HSBC Life Time tracker Special
What are your thoughts on the lifetime tracker deal +2.45% on BoE base rate £799 booking fee no tie in overpayments allowed no earlypayment charge interest daily Sounds good to me - but I am not too clued up on mortgages Appreciate people's thoughts C*F
-
3yr vs 5 yr fix...
Having trouble picking between these: ultimately, no one knows what the rates will look like in 3 or 5 years time so it is coming to the point of sticking a pin or flipping a coin!! Maybe MSE peeps have some thoughts on this? We're FTBs trying to choose between... * 5 yr fixed, 5.69%, Natwest, £799 fee plus valuation,…
-
I have no mortgage, can i lend against my house anyway?
Via inheritance, me and wife have bought a brand new house without any need for a mortgage. Lucky us. Anyway, i am keen to go back to uni to do a one year teaching course at university. I already have a degree and post graduate diploma. I wanted to see whether we could take out a 'mortgage', which is lending against the…
-
Bad credit rating - paying in more ways than one eh?
We have a repayment plan with the CCCS and still have aroung £8000 still to pay off - after unemployment and marriage breakdown etc years ago. We own our ex-council house with no mortgage and might get around £100000 in todays market if we're lucky. Both myself and the wife are employed and nobody will touch us for a…
-
how can my dad transfer the mortgage/ house in to my name?
Hi, can anyone help? My father has purchased a property for me in his name ( his name is on the deeds), however i have the responsibility ( agrement between me and my father) of paying the mortgage, and i pay this to him every month, and then he pays the mortgage company, however as his name is on the deeds ( due to myself…
-
Pregnancy and mortgage application
Daft question :rolleyes: but sure someone can help?! If you were planning for a baby, wanted a new (and more expensive!) home, and knew your salary was going to drop at end of maternity leave (to part-time salary), should you apply for the new mortgage before the end of the maternity pay? What are the options???
