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Buying a second home with no deposit
Hi, We have recently downsized and are mortgage free in a flat worth £190,000. We are now looking to buy a second home but without a deposit wondering if it is possible to raise funds from our existing property to use as the deposit on the second home. Has anyone done this or have any advice please? Many thanks:beer:
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Advice For First Time Buyers
Hi, Like so many others, I’ve been a lurker on here for a long time, but now need some advice. Me and my Girlfriend, 23 and 22 respectively, have been living in her Grandma’s house since October last year. Her Grandma moved into a home summer 2008 due to dementia and rather than leave the house empty or sell it straight…
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Further Advance on Mortgage
Hi I am looking to get a further advance of £25000 on my mortgage to put down as a deposit on a buy to let property. Is this a valid reason for requesting the funds? Also my 2 year fixed rate is due to end in December, do you have any suggestions on the best way to go about this re-finance as I would need the funds before…
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Looming redundancy.... Mortgage - what to do?
Hi All , this is my first time ever stepping foot in this board - so am a little unsure of how to explain this best. I have a huge amount of information on my SOA post - which explains the terms of my mortgage, and what my full current situation is. Details can be found in this thread To Summarise it for you I am being…
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mortgage protection on 2 jobs
Gggg gggggg h
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Self-Employed - problems?
Hello, I'm the MD of my own small business, employing four people, and my partner and I would like to move from our current home (which is her house - and for which she has a mortgage) to a new place together. However: My LTD company has only been trading since May 09 I've been self-employed for three years, but my last…
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Mortgage exit fee written up in Key Facts
I took out a 2 year fixed rate mortgage with Alliance and Leicester back in December 2006. The key facts I was given stated that £295 was payable for their Redemption Administration Charge. I've read the posting and articles about claiming back on Mortgage Exit fees but they seem to be for people who were charged more than…
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Mortgage but with bad credit. Any hope for me?
Eeeeek! Where to start? Ok, I was very 'reckless' with money a couple of years ago, and as a result, have indeed got a terrible credit history. I've sorted myself out the last couple of years now, and would like to purchase a house. However, looking at my equifax file, theres still a lot of the 'bad stuff' on there. What…
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What next? Can I buy another House?
Hi all, Looking for a bit of advice for mine and my partners future. Purchased a property Feb 2007 at 130,000 with a 100% mortgage fixed at 6.25% with Natwest. Not a good rate I know. Well this rate come's to and end in December and we plan to go on the SVR at 3.99% and over pay what we were before therefore making…
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Fixed mortgage coming to end
Hi, My fixed rate mortgage with RBS is coming to an end soon and I am wondering whether I should remortgage or just stay put! My outstanding balance is 22800 and I would like to pay this off in a maximum of 4 years (will be 60 then!). At present I am paying 480 a month and can't afford to pay anymore than this. Any help…
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FTB- Financial Advice?
Hello all. My girlfriend and I are looking to buy our first house. Firstly, can anyone advise what percentage of our income should we be looking to spend on mortgage repayments? I'm of the impression that you should keep repayments to no more than 30% of income- is this in fact the case? Also, is it worth renting for a…
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Endowments SELL or KEEP?
Hi We currently have three endowments (Flex Mortgage Plus) that are falling short (no surprise there!). We have been through system/ombudsman with no luck so are now wondering is is best to sell/cash in these and use money to pay some of mortgage off. We currently have most of mortgage now on a repayment with 30K on…
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FTB - with bad credit - will we get a mortgage?
Hi We have seen 2 possible houses we would love to buy (only 1 - but choice of 2). They are brand new and just being built. We have a large deposit so we would either need a £50k mortgage or £80k mortgage. Ideally we would love the house with 80k mortgage - but will take what we can get. The house prices we are looking at…
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Mortgage nightmare
Hi I am new to this forum really trying to get some advice / help. My situation is the following, after a divorce I remortgaged my home to pay off my ex, In July 2008 my mortgage fixed rate came to an end however my lender at the time, Northern Rock would only give me a variable rate which |could not afford. Stupidly I got…
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Found amazing investment...How do i finance it??!
Hi All. This is my first post to please excuse any numpty questions.... Basically i've found a property investment opportunity which is an absolute cracker, but i'm not sure what all my options are to finance the beast! It's a property that needs a lot of internal development to make it into a great BTL investment, but the…
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firm wont pay mis-sold endownment
We have had our endownment reviewed by the ombudsman who have gone in our favour and awarded us a money claim of around 4,500 but the firm which is in our town say they cant afford to pay us we have sent them out a solicitors letter saying we will take it to a small claims court, but they have wrote back and said they…
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Mortgage Erc's
Hi all, I have a morgage with Mortgage Express which I would like to pay off as I need to move home. They want to charge me around £10,000 for early repayment. Is there any way out of this? The mortgage was taken out with Kensington, which was then bought out by Morgage Express. As I'm sure a lot of you are aware they was…
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Can I buy a second home, without selling my current home
I would be grateful if someone could help. Our current home has a mortgage outstanding of £28,000. and we are wanting to buy a second home without selling this one. We would probably rent this one out. Our current home is valued around £140,000.00 and we are wanting to buy one for approx. £240,000.00 Can you please tell me…
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Help-1st time buyer. Who will advise me of the best mortgage deals?
Hi all I appreciate any advice anyone can give me. I’ve just started looking to buy a house last week and after speaking with 2 separate mortgage advisors - one from Country Wide and another one from a similar company (both of whom are based in estate agents offices and are free of charge) . As a first time buyer who knows…
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Share Equity & deposit
Hi, my girlfriend and I have been searching for part buy part rent properties, and have recently come across a perfect flat. However we do not have a deposit, hence why we were looking for shared ownership. There is a possibility that we cannot purchase the property without a 5% deposit on our share (75%), apparently due…
