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Turned Down for Mortgage I Currently Have
Just wondered if anyone had any advice? My husband and I have a mortgage with HSBC. We have held it since 1999 and have never missed a payment. I am self employed and my last 3 years accounts are not great as I was on maternity leave and then worked part time. I've been back full time since March 09 and my last year's…
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what choices do i have?
i am desperate to move! i want to have another baby but it is impossible in the house im in. the house is worth near enough what the mortgage is worth so no equity to put down on another bigger house. i have been thinking about moving to a not so nice area and maybe getting a house worth the same as mine but just bigger.…
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FTB with low cost home ownership dilemma!
Hi all, My husband and I have seen a low cost home ownership scheme offered by our local authority in conjunction with a housing association. We are eligable for the scheme and have the deposit needed for 10% (at most) of the discounted price but are struggling to find a mortgage lender who will offer us a mortgage for…
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Calculating Interest for tax purposes
Hi, Apologies if this question has been asked before and answered but I have had a quick look around and can't find one that matches it. Feel free to point me in that direction if it exists. My scenario is as follows: I am renting out my flat and wish to offset the interest portion of my mortgage payments against the…
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Sub Prime Mortgages
Hi There Just looking for some advice really, Ive heard about making a claim re mis sold mortgages I have started to look into it via the web??? Has anyone heard of such claims??? Thanks in anticipation:)
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They said no to a new fixed mortgage :(
Hi I have been with A&L for nearly 5 years, and have never missed a payment. However now they say they cant offer me another fixed mortgage because the value of our house has dropped so dramitcally we are outside thre 10% LTV mortgage PS, they reckon our house price has dropped £25,000 from £177,000 to £152,000 which when…
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Early redemption charges - Mortgage
Hi, I'm hoping someone can help clarify this for me! I paid off a mortgage in 2005, just under 3 years from when it was taken out, and was charged a 6% early redemption penalty, which totalled approx £10k! I hadn't expected to sell so soon when I took the mortgage out, so it didn't seem massively important, but…
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Authorised overdraft
Hi, I have an AIP and now its the formal process. They want 3 months worth of bank statements. I am concerned about my authorised overdraft for £2005, I get paid £2300 a month, so always eat into it. Never go into unauthorised territory. I can get rid of it if I need to now. Is it to late? is it an issue? Thanks
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End of fixed rate - want to make lump sum overpayment
Hi guys, In a years time my 5 year fixed rate will come to an end. When this happens I want to pay off a lump sum (can't do it until fixed rate ends because already overpaying by maximum). So as I understand it, when my fixed rate ends I will automatically transfer on to SVR. At this point I can overpay as much as I want…
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Reclaiming endowment nightmare
Hi there, we are in the final process of selling our house, so we decided to contact the company that we have been paying monthly for our endowment. They tell us we need a letter of "No further interest" from our original mortage provider, not the one we are with now. The original mortage company no longer exist, they are…
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MSE News: Trio of lenders cut mortgage rates
This is the discussion thread for the following MSE News Story: "The cost of mortgages continued to head downwards today with a number of lenders announcing new rates ..." Read the full story: Trio of lenders cut mortgage rates
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Too good to be true? Offer from l.lord
My partner and I have wanted to buy for sometime and we are currently in a flat we've been renting for 2yrs. As for most first time buyers it's the deposit that is making buying a very far off dream at the moment. However... 2 weeks ago my landlord gave us first refusal to buy the flat and said he would offer a good rate.…
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Help Please Wise Ones - Remortgaged for 7 yrs at 4%
Hi all Please may I ask for your advice as I am starting to worry I have made a bad decision. We remortgaged 6 months ago with Abbey for 7 years on a fixed 4%. This seemed a safe option and the payments stayed as they were before we did this fix. Our mortgage is £220K and we were sure that the interest rates would increase…
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Contractor mortgages
I’m wondering if anybody here has experience with contractor mortgages, I’m a contractor and FTB and as such am absolutely paranoid about a mortgage lender pulling out on me at the last minute as a contractor is not so stable as somebody in a permanent job is. I have an AIP with C&G which I sorted out myself directly with…
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Remortgage/Mortgage holiday or just cheap rate? Help please!
Hi My mortgage is up at the end of June so have just started working out our options. Anyway it seems we have no options but to stay with Natwest our current lender. No one else will lend us the money now due to the fact they have all had a slap on the wrists and have cut down what they will lend people. We only have my…
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Nationwide BMR
Hello all, Am coming to the end of a tracker deal with Nationwide and as i understand it will be switched to their BMR [2.5 max] while their current best tracker offer is 2.64 and costs £995 to "arrange" and also ties me to their SMR [3.99]. Am guessing my best option for now is to stick with their BMR variable? Dont want…
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Mortgage + Debt = ?
Hi My fiance! and I have found a place that we are looking to purchase. The mortgage is £80,000 and she has the 10% deposit. I however have £4,500 debts. Would it be best for her to get the mortgage on her own as I may hinder the application or to do it together as we'd have combined salaries? My debts are roughly expected…
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Mortgage transfer to parents house
Situation: my wife and I bought a shared ownership property in 2008. We were eager to get a house (we were living with my wifes family at the time) so we rushed into buying a 30% share of our house for £58,500 - total propert value £195,000. We mortgaged the full £58500 So we pay approx £350 PCM for the mortgage + £375…
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First Time Buyer Advice
Please can anyone offer some advice as to the success rate of me getting accepted for a full mortgage application (have been accepted in principle) based on my financial credit report status: Current credit card: £1500 couple of missed payments Store Card : £499 default, can be cleared prior to mortgage application…
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Question about income multiples
Hi there I want to take out a mortgage in the next year or so on just my salary (my OH is disabled and receives various benefits so our income is actually a bit higher than my salary which is £22000pa). My question is, which banks/building societies are lending the highest multiples at the moment? Obviously, a £22000…
