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Tier 1 Visa valid for less than 2 years - Who can give me a mortgage?
I have been living and employed in the UK for 2 years and now looking to buy a property. My current Visa is valid until mid 2011 and it will be extended for next 2 years before I apply for PR. I called up Halifax, Abbey and Lloyds TSB banks and they refused me a mortgage by saying that my visa should be valid for atleast 2…
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Failed mortgage application (Natwest=useless liars!)
Hi all, dunno if I am being dumb, but I am extremely confused......:confused: Me and my wife are buying our first house, and applied for a mortgage from Natwest. We got our agreement in principle no problem at all, however when we applied for the actual mortgage the application failed (although Natwest's mortgage advisor…
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Alliance & Leicester Standard Variable Rate
I have a mortgage with A&L which I took out 2 1/2 years ago. I am now on the SVR of 4.99%. Up until a couple of months ago A&L were still offering mortgages with an initial fixed rate which then reverts to the SVR of 4.99%. 4.99% is higher than most high street lenders but I always hoped (naively) that when A&L sorted out…
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Is lodger income taken into account when applying for a mortgage?
Hi I've split up with my partner which I shared a joint mortgage with. I wanted to take the mortgage on myself but don't think my income will stretch to it. I have a friend who wants to move into the property with me as a lodger if i can take the house on in my name. Will the mortgage lender take this into account as extra…
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Newish Ltd Co owner wants mortgage
Hi all, I started my own Ltd company about the beginning of July this year. Everything is going well. In around 1 years time I will be looking to move out and want to buy my own place. I say in a years time as that is when I realistically will have hopefully enough savings (is 20K enough?). All dept long gone (personally)…
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Fixed Rate about to end.... what next???
My existing fixed rate comes to an end very soon. I'm currently with Halifax. I have an outstanding mortgage of £115,000 (house value approx £280,000) and I want to repay over 14 years or less. I have usually gone with fixed rates in the past and am really confused about what to do next .... fixed rate, tracker, SVR ......…
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Can you help?
Hello, I'm in a bit of a quandry and useless at figures!! I'm on a fixed rate of 5.44& until November next year, Northern Rock (lender) want to me to take a secured loan out of £10,000 instead of raising the mortgage. This would be at a cost of 9.97% with £375.00 fees. The penalty for switching mortgages is £1600. The…
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HIP and local searches
Hi all, I am buying a property which has a HIP. My solicitor (who i am already not happy with) has now given me my final bill and it states, amongst others: Searches local £139.00 Searches drainage £49.00 Should I be billed for these even if the HIP should already contain these?
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Should we apply now for mortgage?
I posted a few days ago about the possibility of getting a mortgage for myself and DH. I think on paper it doesn't look an issue - no credit issues etc, large deposit etc. But I am not working - at home with two small children. Anyway, I'm now worrying myself that we will not get a mortgage hopefully Spring time ish next…
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Shall i ditch my fix?!
I am new here and after a bit of advice/opinions.... We have a 4.99 fixed rate that finishes in June 2011. The current redemption penalty is around £1400, and for a while i have been considering whether to ditch it and go for a tracker or discounted rate elsewhere. I've seen a couple that would give us rates between…
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FTB, 85% LTV, joint salary 3.75x multiple possible?
My wife and I are FTB, joint salary 53K + non guarentee bonus (0-5K per year), 40K deposit... looking for a property in London for around 220-240K... Is not possible to get a 200K mortgage for 85% LTV? We're renting at £1200 and also saving £1200 per month and I think we could afford paying £1200 - £1800 per month for…
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how do I challenge Abbey on fixed rate mortgage?
I really need some advice, back in Sept last year our fixed rate of 3.99% came to an end. At that point we did not know the base rate would drop so went for another fixed deal for security. However on the last day of the 14 day cooling off period I contacted Abbey and said that we had changed our mind and wanted to go for…
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Any Mortgage advisors? Quick question about taking a mortage over from someone else
Hi, Wondered if someone could advise. My mother in law has £20k on her mortgage left to pay, she was going to take out an equity release but this will mean she will lose a lot of the money... - anyway my question is. My husband can take the mortgage over on his name, an interest only mortgage which she will just pay the…
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Mum's Mortgage going over 75?! Please reply quick!
Hi Heroes Mumsy has a mortgage with Abbey (about 20k left on it) that would take her over 75 before she's paid it off. Looking to move, it seems the bank won't straightforwardly shift the mortgage over onto the new house (this called 'purporting'??). Affectively making her re-apply for her current mortgage deal, Abbey is…
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Keep exisiting house but use equity as deposit on new how possible?
Hello all, I need some help please if you can spare the time. My current home is worth £150K and I have a mortgage balance of £40k I would like to keep this house and rent it out. I intend to buy a property at around £200k. I know I need to change my exisiting mortagge to a buy to let Mortgage but after that is done is it…
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Which fixed rate to choose for remortgaging?
Hi there, hope someone can kindly advise. My current fixed term is about to end and I need to decide between the 2 new options: 4.69% fixed until 30/11/12, fee £399, or 4.14% fixed until 31/12/11, fee £999. So do I take the lower fixed rate even though it is for a shorter term (11 months shorter) and costs £600 more, or do…
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Mortgage offer terms
Hi, I recently applied and was approved for a mortgage through Halifax with the government home buy direct scheme. I had cc debts of £12k and have managed to get this down to £5k over the last few months and this would have been paid off until my mortgage broker advised me that Halifax now need a 5% deposit, so the money I…
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Advice on amount to borrow
Hi, I am currently looking for a house and have been offered £150,000 by a bank with a 10% deposit. I will be purchasing the house with my partner. Our joint total salary before tax is £35,000. Borrowing £150,000 is a bit too much. Surprised they offered it in fact. I was thinking of looking at houses around £140,000 with…
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Last-minute mortgage offer withdrawn by bank
Hi, I am buying a new built flat through government's HomeBuy Direct scheme. My solicitor has exchanged contracts last week and the completion date was set to be next Wednesday. Today my solicitor told me the bank has withdrawn the mortgage offer which was made in early October. The reason of the withdrawal is not known…
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Assisted Sale
Has anyone had any experience of a bank assisted sale? We have both physical & financial problems with our property, we are in negative equity and we have not managed to sell on the open market. I have spoken to my lender (HSBC) and they have offered me an 'assisted sale' through a company called movewithus. The service…
