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How do I get a mortgage on low income?
I currenty own my house ( i have paid off the mortgage) but have a few loans and credit cards that I need to sort out. The repayments are really high every month, so I need to remortgage the house to pay off the debt of around £35000. My working hours have been cut and I am now on a low income, although I own the house…
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FTB: Bank or IFA - Bank lied about incentives - Tied in!!!!
Hi, I am a first time buyer with a 30k deposit. I have had an offer accepted on a property and have decided to use my bank as my lender. However, when I went ahead with the MIP, they did not advised me that the arrangement fee was £1495. Also they stated that I could get 1/2 of my yearly council tax paid. After the…
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1 Direct debit bounce, credit rating and aspirations in tatters
Hi guys, basically I have two mortgages one is a buy to let and the other is on my home. I get paid at the end of the month like most and my Direct debit for my mortgages is set up for a few days after. My problem started when I got paid, transfered required amount into my account and a bit extra as usual. Mortgages didnt…
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FTB, Guarantor Mortgage, Gifted Deposit, 85% Mortgage
Can anyone advise please on likelihood of achieving this: FTB, Guarantor Mortgage, Gifted Deposit, 85% Mortgage, around 105-110k required, around 85%. DD thinking of buying 1st house. Only earning just over 20k at the moment & no prospects of saving for a deposit (lives 100 miles away, renting a room at the mo). Will be…
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Rent or mortgage
Hello, I'm looking to get my own place (currently living with parents) and I'm just looking for some advice and ideas on what to do based on my circumstances. * I'm single - will be living alone. * I'm not going to get any financial support from family. * I earn £14K before tax (~£12K after) and that might not be…
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mortgage company want bank statements
hi my mortgage company has requested i send them bank statements to confirm how much is going into account each month as we have asked for a reduced mortgage payment to be set up for us if i send them can i black out certain items on there that i dont want them to see and if i did would the bank statements still be valid…
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Surveyor has undervalued property.
In process of purchasing a new build property. Mortgage all sorted - subject to valuation. Purchase price 179k incentives from builder £15800 which including our 20k makes up the 20% deposit required for new build. Mortgage arranged 80% LTV Our mortgage is for £143,000 Surveyor has valued it at 165,000 So, question is -…
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chould I remortgage as a buy to let now?
I have one residential property worth 480000 on a residential mortgage of 5.9 % I live here. I am considering getting a buy to let mortgage and rent it all out. I have a £230000 loan. Its a good income return, enough to rent a flat when I need too and travel too. I've also accounted for tax. Assuming that I can offset the…
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Mortgage advice please
I need a mortgage for £175,000, I will be placing a deposit of 25k down, so therefore I will be borrowing 150,00, I earn £55k and after i sell my house i will have unsecured debt of just under 50k. Does anyone know any building society who will lend to me with this kind of unsecured debt. thanks
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Mortgage Extension Thoughts
Hi there, Looking for some advice if possible please. I have come to the end of my fixed term with First Active and am paying 0.5% above base rate which is great and we're saving money every month from the 3 year fix we were on. The house is in Scotland (Aberdeen) and valued at approx £350k (valuation last Sep) with £128k…
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Offered discount to move my mortgage elsewhere
hi guys this is my first post, just after some advice Just recieved a letter from my mortgage company (advantage) offering me the chance to move my mortgage to another lender or pay off the balance by the 30th september 2010 and in return they will wipe off £6900 from the balance!!!! current mortgage is for 94000 and is on…
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Fixed rate or SVR - what would you do?
My present mortgage deal with Nationwide is coming to an end and I will revert to SMR of 2.5%. I have been offered a no fee 2 year fixed rate at 3.98% with £300 cashback. What would you do in my position? Obviously the base rate will go up in the next 2 years but do you think I am likely to be better off staying put? Thanks
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Mortgage company can not help. Can any of you help?
Hey All, I really do hope that someone can advise me on what to do. My goal is in 2 years to pay off as much of my mortgage as I can so we can move house. I approached my mortgage company and they are not willing to help. Each person I speak to tells me something different. I have 3 pots of money which currently are all on…
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Temporary teacher trying to get a mortgage
Hi Went back to uni to retrain as a teacher a few years back. Now qualified and finished my probation year. Great experience but there are no permanent posts available. Every newly qualified teacher I know is on the same boat. I've been told it's a rite of passage that I'll be doing supply work for the first while until…
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Employment change can I remortgage?
Can anyone offer advice please? I have been in permanent employment for the past 10 years however was recently made redundant. I now have have a 'fixed term' 12 month contract although this is likely to be longer. I have a fixed rate mortgate at 5.2%, my intention, before being made redundant was to review this and…
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Mortgage advice please
Hi, After some advice, my partners parents are moving down to us. After selling their house for £70,000 they will be £125,000 short for a new house here, My brother in law wants to take on the mortgage as an investment, my partner wants to go joint in the mortgage with him. He will be a first time buyer with a £70,000 down…
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£7,000 or told to leave house?
Please see this thread: https://forums.moneysavingexpert.com/discussion/2556147 Or Here is a copy:
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Whats the likelihood of getting an AIP declined?
Hi guys. Went and had an agreement in principle drawn up today through our broker. The lender is Abbey and they gave us an AIP based on borrowing 85% LTV. The AIP was credit checked and we have included everything needed for the underwriters to go through i.e 3 months pay slips, p60's, exact credit owed, proof of address…
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Section 38 Agreement
The property I am purchasing is one of many new builds, and because of this new roads had to be made. I've been told today that my Solicitor has been told that there is no Section 38 Agreement yet which is annoying as my Solicitor asked on the 20th April. Do you think Nationwide will be okay that the road may or may not be…
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Question on Mortgage Life Insurance with Critical Illness when overpaying...
All, Wonder if you could answer this one. Originally I took out "Mortgage life insurance and critical illness cover" according to the term of my mortgage. About £100/month, decreasing term. Original MF date was 2028. Given my OPing, I suspect to be MF in around 2014-2016. Difficult to predict accurately. An online quote…
