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Store card default during mortgage application
We are buying a new house and the mortgage application is at the underwriters for final approval. Whilst we've been on holiday my wifes store card has gone into default by £4. Basically are we going to get our application rejected even at this late stage?? The default letter came today and balance paid immediately!!
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Nationwide Mortgage Holiday Joke
We have just been informed by Nationwide that 'financial difficulties' is not a reason to give us a mortgage holiday. This defies logic. We took out the mortgage on the understanding that the mortgage holiday option was available Does anyone else have any experience of requesting a mortgage holiday from Nationwide? Can…
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remortgage or use savings?
I have sold my house and am buying another for a little less than I am getting for my house. However the difference will be wiped out by costs and stamp duty. I still have about £20,000 to pay on my mortgage so I will have to either remortgage for £20,000 or use my savings of £19,000 plus £1,000 borrowed from a relative. I…
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Switching Buy to Let
Hi, I have a buy to let mortgage on a one bedroom flat and a regular mortgage on a 2 bedroom house which has been my home for the last 2 years. My question is, can I switch where I live and rent out my 2 bedroom house instead? I've recently become single and feel that I could get much better rental from the 2 bedroom…
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ERC - Finding a new provider
Hello All, I am sure this question has been asked here already so please forgive me. I have got an ERC of 5% on my mortgage and I am on a fixed mortgage and I am trying to take advantage of the low base rate. My ERC will be about £10k. I am looking for a provider that will be willing to absorb all of that to get me onboard…
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C & G mortgage
hi all, first time posting, been looking at the forum for a while though and found it really useful. I have a mortgage of around 70K with C&G on their SVR of 2.5%, paying £380/month and an additional £150 every month. I have savings of £13K Next year i'll be remortgaging to fund an extension to the house, and also using…
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To risk taking out a morgtage or not?
Hi, I have been offered a morgtage in principle by Halfiax through a Broker, financially it is going to be tight. The advisor has said there is a 30% chance that the morgtage will be declined. Now I don't know what to do, do I take the chance that it may be refused and lose £600 in costs or walkaway? Anyone else been in a…
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Pay Off Completely?
I have about £17,000 owing on a flexible tracker mortgage that I have had for about 10 years. I have been overpaying and now also have sufficient cash to pay off the mortgage completely. My mortgage lender has advised not to completely pay the mortgage off, but keep a nominal amount in the account, in order that if I want…
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anyone still offering 5 times salary mortgages?
Is anyone offering 5 times joint income mortgages or has this all but gone now? Most i can find is 4 at the moment. Ideally want 5 times joint offset mortgage. cheers
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Selling with negative equity
Hi, this is my first post and I apologise if a similar post(s) exists. Basically my fiance and I own our house, we bought for 109k nearly 4 years ago. We stayed on interest only until last month so we still owe 109k. The house is valued at 100k, which is what we have it on the market for (down from 110k to 105k to 100k).…
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Discounted for Sale - who will lend?
[FONT="]My son is interested in a certain type of affordable housing. It’s called “Discounted for Sale” or “Discounted Covenant Scheme”[/FONT] [FONT="]Our local council agreed with the builders that a percentage of the properties that they were building should be offered at a cheaper price – 70% of the open market…
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help - im useless!
I bought a house with my now ex-partner 3 years ago, my ex put 20k into the property, although it is now worth less than we paid for it. we separated 12 months ago and as i would have struggled to meet the mortgage alone i walked away ad agreed he could have the house. I intend to have my name taken off the mortgage and…
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Legal and General endowment
Hello I wonder if anyone can give me some advice relating to the above? My unit linked endowment matures in July 2011, current surrender value is £10,886, monthly payments £40. Life insurance cover: £24,700. I have a separate mortgage/life cover so this is purely a savings policy. I am thinking that I should sell it (if I…
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Canada sun life endowment policy - best way to see/surrender?
I have an endowment policy that I took out about 10 years ago (15 left), with my first house. It's no longer linked to my mortgage, and at present I am paying £63 per month. At the end of the term it's opposed to give me £37500. To be honest after sitting looking at the figures, I think I would like to try and get rid of…
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Will it work?
Would really appreciate some help on this one... Myself and my wife currently own a £240,000 house with a 138,000 fixed rate mortgage (pay about 500 pcm) that ends in September 2011. We want to buy a £325,000 house and switch to a buy to let mortgage on my existing house (returns 900 pcm). My mum (aged 68) might be looking…
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Likelihood of mortgage?
I have a house that I'm currently selling which when I pay off my current mortgage will leave me with £55K. My girlfriend is putting in £25k so we have a deposit for a new property of £80k. We are looking at a £250k house with an income of £44K between us. My credit rating is not good at all but hers is imaculate. What are…
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girlfriend problem
Hi the scenario is we had a loan from my parents of 80K in 2007 to assist with the house purchase and the remainder we had on mortgage 40K, a solicitor drew up an agreement that my girlfriend signed to say if we split the first 80k would be paid to my parents interest free then the morgage paid and any surplus we split.The…
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Going Interest Only on RBS Mortgage?
Hi all, Does anyone have any experience of going from repayment to interest only with RBS? I'm in the middle of a cash flow issue, and need to cut down some costs temporary! I've heard that they only consider a move to IO if you have a low LTV or financial problems? Thanks! H
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AIP withdrawn, what now 90% ltv need interest only
Hi All, We had an agreement in principle set up by one of the mortgage brokers recommended on here. We are in a somewhat unique situation and were pleased with the mortgage offered. But it was only valid for 60 days, and ran out yesterday, so i phoned the broker to extend it. He phoned back later to say that Santander had…
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Buy to let mortgage without being a current homeowner?
Hi there, We are currently considering purchasing a house with a view to letting it out as a HMO for students. We currently aren't homeowners (FTB I guess) and would continue renting for job reasons. The house we are looking at for a BTL mortgage is valued at approx 200k and the total income from the house would be about…
