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remortgaging to release equity and the tax man
I currently own a mortgaged home but am working abroad so the house is rented to cover costs. No profit is made hence no tax is paid. I want to try and release some equity to invest elsewhere, but how does the tax man treat a remortgage ? To keep me under the tax threashold I want to keep my mortgage repayments as they are…
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Help! Bank didn't switch mortgage type for 3 yrs!
OMG! I just received my mortgage statement and found that I am on "interest only" mortgage! I have requested my bank to switch it to "repayment" 3 yrs ago (I have a copy of letter requesting this,) while part repaying some sum, and the cheque bounced at that time etc. and it just didn't go smoothly. But I ended up talking…
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Help! Will I be able to get a mortgage anywhere?
Hi, I wondered if someone might be able to give me some advice on whether I will be able to get a mortgage given my current situation. After hubby walked out on my daughter and I, we had to find somewhere private to rent, as we had been in RAF married quarters. This meant we had no equity to split, and so I'm starting from…
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Financing new home after divorce
Hello all, New here, so apologies in advance if my existing searches for relevant threads has been too light. Advice/thoughts sought on ideas for refinancing to allow for me to buy a home, while retaining the existing family home. Here's the bullet points of the current situation: Recently divorced (amicable - so no issues…
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releasing equity
My parents, who have now both retired, have cleared their mortgage several years ago and own their property outright. They are having some money difficulties at present and it was suggested that they release some of the equity from their property. Does anyone know if this will be possible and how to go about it??? Thanks
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Valuation nightmare
We had our house valued on Monday as part of remortgaging with NR. We estimated (conservatively in our opinion) at £180k. The valuation came back tonight at £160k which we believe is inaccurate, our reasons being:- 1. Last valuation in 2003 was £165-170k and since then we have spent at least £20k on a new kitchen,…
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Relationship breakdown & mortgage
Hi there, I bought the house that I am currently living in with my boyfriend over two years ago. Unfortunately, we have recently broken up. I am just wondering if any one can give me some advice on what to do? Neither of us want to stay at the property but we also want to leave pretty sharpish. Any advice would be…
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Applied for a dmp in haste!!!!
Hi all, I'm sooo glad to have found this site. I'll get straight to the point.... I applied for a dmp, now realise i can cut down and manage without :j However when i spoke to MBNA before my first payment and told them they said i can't back out now and it will stay on my credit rating. I'm so cross with myself. I know…
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Mortgage for those without indefinite leave to remain
Hi there, I am first-time buyer and have spoken to a number of banks who have informed me that as a non-EU national without indefinite leave to remain in the UK, they may not be able to lend to me. I have been working here since November 2007 and am on a visa which expires in 21 months. I am looking for a mortage of 75% to…
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Financial Advisor in Livingston West Lothian
Hi, Does anyone have any recomendations for a financial advisor in Livingston for mortgage advice? thanks Glenn
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mortgage term ending
Hi, i took out a 90% mortgage back in 2008, on a 2yr fixed deal. that deal is almost up, however looking through various house valuation sites, im still on the border of a 10% mortage as the price on my house has droped in the last 2 years. any ideas on whats my best option, stay with current lender if they will allow me…
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Mortgage Payment Holiday with Santander?
Hope this is in the right place I'm newly on maternity leave and, having looked at our finances, we're worse off than we'd expected one way and another (long story that I'm trying to cut very short!) and we just cannot afford to pay our mortgage at its current rate. I phone Santander months ago to request to go to interest…
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Voluntary Repossession
Hi, Apologises if this is in the wrong section. Has anyone had any experience of this they could share with me? Is looking like I will have to go down this route, have been trying to sell my old property for over 6 months now but have had no decent offers at all. It does need some work doing on it but I don't have the…
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Moving, Porting, Borrowing More
I have a very attractive lifetime tracker mortgage with the Woolwich (0.17 above BBBR). The outstanding balance is £132K and I can port this. I am about to move house and need to borrow an additional £80K. My LTV will still be a healthy 44%. Woolwich are offering 2.39 above BBBR (plus £999 arrangement fee) for the…
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Self employed mortgages
I am going to be doing 2 years re-training from September to lead to a new profession, and was looking at the option of a career development loan, then thought why saddle myself with another £300 a month outgoings at the start of a new venture, when I could maybe remortgage the house, consolidate any current debt, and…
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Help finding a mortgage broker
Hi I want to use a free whole of market mortgage broker to find the best mortage deal. My estate agent said that they have one on site but i'm a bit concerned that they will talk and the EA will then know exactly what i can afford! What is the best idea, should i go to one in another estate agent? I work in the north…
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short term mortgage
Hi looking for a mortgage for 75% LTV 100% credit rating,employed etc so no problem there. but? There is a good chance I might need to sell in 6-12months so do not want to be tied in with ERC and also need low/no fee if possible any ideas were to try? Cheers
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Mortgage ending
My current mortgage deal expires in August and I only have about 16k left ,and 7 years on the mortgage. As it is such a small amount, does anyone have any ideas as to what I should do i.e. should I re-mortgage or get a loan, or use credit card etc.? Thanks
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Bad credit but has affordability help?
Hi this is behalf of my Mum who is desperatley trying to get a new mortgage having just sold her last home. She is in a bit of a pickle credit score wise, although as of today the funds are finally being released so she will have no credit card debt, no overdraft and nothing nasty outstanding. She has an offer accepted on…
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What to do with Endownment maturity payment?
I have just had an Endownment policy come to maturity, (Prudential). Now i want to pay it off my Mortgage, but am told by Pru that Alliance and Leicester have told them that they have no holding interest in my maturity payment. I thought it was assigned to A&L but not so. I am in a Fixed rate until 31st Dec 2010 and if i…
