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Pre-Mortgage Valuation under valued
We have just had a valuation for a potential Mortgage and even though we had estate agents look around in the Summer, this valuation has come out alot lower than we thought! Whats the best way to get this particular mortgage deal - can we contest this valuation ? or is the only way to try and get a completely different…
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Shared Ownership
Hi Are shared ownership properties a good idea? To cut along story short, I got stung by my ex financialy and have managed to get back on to my feet, got a job earning £30k pa, I am debt free after going through a IVA (I have no debt whatsoever). I have been renting since splitting 5 years ago and am 44 years of age and…
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Remortgaging a freehold flat
My wife and I are trying to remortgage our 2 bedroom flat. A mortgage broker told us that he couldn't find anyone willing to do it because we have shared freehold of the building. Technically, we all have leases from the company we collectively own as freeholders, but that doesn't seem to matter. Does that sound right? If…
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What insurance do we HAVE to have with our mortgage?
Besides building insurance, that is. The reason I ask, is that my husband was talking to the One Account about our ongoing application, and they said we "needed" life insurance/assurance. Now, I've never believed in all these extra little daylight robberies, but I can't find out a definitive answer anywhere else. Must we…
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Buying a second house with a (re)mortgage on the first home
My parents are looking to purchase a second house; however this house doesn't have any working kitchen + a few other basic necessities - that means they won't be able to take out a mortgage on this house. They currently do not have a mortgage therefore is it possible to (re)mortgage their current house to pay for this…
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Redundancy & Mortgage deal ends
Sorry, this is also in the redundancy thread, new to this, so not sure which it most suited to... Hi, I was made redundant in August after 12 years of service (and received a fairly reasonable payout). I am still looking for work, although have recently set up my own business, although I do not expect any return from this…
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Mortgage restrictions on newly renovated property as owner reselling within 6 months
We are looking to buy a property and renovate it with a view to selling within 10 to 12 weeks. Hopefully we can increase our deposit for a second purchase with the profit from doing the renovation work ourselves. Today we have been warned of mortgage lenders refusing potential purchasers a mortgage due to properties being…
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Is this bad or illegal
I went to my branch of Abbey as I needed to alter my mortgage (remove my ex husbands name and change it from interest only to repayment) After taking all my details I was told it looked good subject to a credit check but I would be contacted. After hearing nothing I called and eventually spoke to a different mortgage…
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Purchasing hosue with friend. Only friend requires mortgage. Options?
Hi, I was wandering if anyone could give me some idea of the implications of my situation. A friend and I would like to buy a house together. I have my full half and do not want anything to do with a mortgage. He has a quarter of the money so needs to raise a mortgage for the other quarter. Does you know if there is anyway…
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Mortage advise
bit of a how longs a piece of string question looking to borrow 190k on a 230k property earn combine wages 65k p/year how much is reasonable to have on a credit card balance ? currently 3k on mine 3 k on wifes there abouts the reason i ask was looking to pay the 6k off before seeing a broker but if the debt was exceptable…
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Which mortgage with 15% deposit
We are just about to move house and will have a 15% deposit. We want a fixed rate mortgage for up to 5 years. After a bit of shopping around I have found a few options. 1. Leeds BS - 5.99% fix for 5 years or 5.75% if you take there buildings insurance - the most expensive but most security 2. Chorley BS - 4.99% for 2 years…
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Completion Tommorow - Shortfall identified
I have just been informed by my sols that there is a shortfall I need to make up of £23000 to enable me to complete my sale and purchase 2moro. I was under the impression that this was covered by my Mortgage, but it is now. There is no way i can get this in time and is looking like I am going to dely completion by a week.…
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Continue with endowment or open an ISA ?
Hi. My (Abbey Life) endowment policy matures in 2 weeks. They have sent me a letter saying that I now have several choices: They can give me the whole amount (about £13500), or I can leave the money in the policy, or I can have some of the money now and leave the rest in the policy. If I leave some/all of it in the policy,…
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Halifax valuation fee refundable if application declined???
Hi I am really hoping that someone can help me? We were accepted for a mortgage with Halifax last week, passed with a grade A acceptance apparently. We handed over our £350 valuation fee and had the house valued on monday but yesterday we were informed by our mortgage broker that we had now had a straight decline?? Halifax…
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Britannia mortgages - existing customers question?
Hi all, quick bit of background first...FTBs currently applying for a Britannia mortgage which is a graduate only scheme which will take us straight onto their SVR (4.25% with no tie ins etc) but I happened to look on their website at mortgage rates for existing customers and there doesn't appear to be different rates for…
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Fixed Rate coming to an end
Dear all, My 2 year fixed rate is coming to an end at the end of this month. Currently paying 6.29% on a repayment mortgage with the Bank of Scotland. My wife will soon be on SMP as her boss does not pay any sort of enhanced maternity which is going to cut the monthly income by about 1K. Outstanding Mortgage is currently…
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Endowment end choices: What shall I do?
Hi. My (Abbey Life) endowment policy matures in 2 weeks. They have sent me a letter saying that I now have several choices: They can give me the whole amount (about £13500), or I can leave the money in the policy, or I can have some of the money now and leave the rest in the policy. If I leave some/all of it in the policy,…
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Mortgage Advisor - FEE Refundable if mortgage cancelled?
Hoping someone maybe able to help. My friends have paid £300 to a mortgage advisor to select and arrange a mortgage for a house they were buying. The house has fell through, and they no longer need the mortgage so will cancel it. Where do they stand with the fee they have paid the mortgage advisor ? Are they able to get…
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Mortgage Advice
To all you clever people out their, I suspect that I am not the only one that has gone through this but a quick question. We (as in my partner and me) moved house 18 months ago, we were going up the property ladder what with a baby and all that. I got a new job so we needed to relocate and at the time had the money in the…
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Worried about mortgage & deposit
Hi, I have a mortage offer and I am also using the Homebuy direct scheme. I am having to put 5% deposit in myself. My mortgage broker has told the bank I am using the proceeds from my current house, but there isnt enough so I am using savings and also money that my parents have given me. Will the bank be bothered that the…
