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Help on 5% deposit and high salary multiplier
Hello, I hope someone can help, I have searched a bit, but most of the posts I found were quiet old on this and I know the situation is ever changing! My situation; looking to buy a place at the top edge of my borrowing, I've gone through a mortgage advisor and been approved for a very decent sum from the Halifax based on…
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HELP going to see financial adviser tonight!!!
Hi, really glad I found this site as I need a it of advice really. I am off with my husband tonight to see a financial advisor at the estate agents. We have saw a lovley house and really want to move as we need soemthing bigger. We haven't decided to rent out or sell our house. I'm really worried that with my poor credit…
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Re-mortgage/ valuation advice
i have a 4 year term mortgage. currently 8 months in. bought house at discount now worth more due to work. is it possible to get it re-valued by the bank to amend LTV, or is that a daft question? thanks
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Changing Mortgage
Hi there, Could someone please tell me, I changed my mortgage from an endownment mortgage to a repayment mortgage with the same lender and the same account number was kept, is this classed as a remortgage or not. This was done 7 years ago. The reason I am asking is because I have to fill in a form that asks if I have ever…
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Ex-Wife and Endowment Policy
I have recently discovered that my ex-wifes name is still on an Insurance policy that has recently matured. We divorced over 20 years ago and I paid her a small sum to reflect her interest in the policy at that time. For the last 20 years I have paid all Mortgage and Insurance payments myself by direct debit and dont know…
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Remortgaging appointment with HBSC tomorrow, what should I be looking for?
Hi, I have an appointment with the mortgage manager at HSBC tomorrow. We have 2 mortgages on the property a small one £35000 which we took out in 2008 as a lifetime tracker at 1.44% And our large mortgage of £220,000 on the standard variable rate (currently 3.94%) both have 19 years left to pay. We currently overpay £100…
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Interest calculated annually - what's the impact?
Hi all, First re-mortgae is looming and I'm after some advice please! I'm looking at two different mortgages - one of which has interest calculated annually, one of which is calculated daily - I understand that interest calculated annually is worse but just wondering if there's a quick way of calculating the impact of…
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Remortgage imminent
Our interest only mortgage term finishes end of July and we need to remortgage. It was self-cert, no defaults, no black marks but now our income is much reduced. Need to find £340,000, pref. repayment not I/O on 45% LTV. Have not yet contacted current lender but pretty sure we no longer comply with their rules (age).…
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First Time Buyers
My boyfriend and I are looking to buy our first house. We have been together 7 years and are expecting a baby in the summer, we have currently saved a joint deposit of £15,000, have salaries of £27,500 plus bonus that usually brings it to around £35,000 (him) and £24,000 (me). We are still saving I save all of my wages and…
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Need some Advice Please
Our mortgage is with Santander and we can move it from 03.05.11. We've been with them for around 7 years and 3 years ago we decided to cancel our credit cards and try to pay them off. The Halifax said they would only freeze the interest if we went through Payplan so we did as they asked. Now that we want to get a better…
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stressed out - Nationwide Application
Hi, So after waiting weeks for an appointment with a mortgage advisor, we finally went last week to make application. Took all docs as requested. Everything seemed ok. Were applying for c. £80k less than the max they were willing to lend. Application sent off for processing. Got told it was all in process of being done...…
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first time buyer morgage
Hi i am 25 years of age in full time work always worked since i left school have no bad credit rating.I am looking to buy a house at 95k i will be putting down 40k deposit but can anyone tell me would i get a 55k morgage for over 30years i earn approx 12k a year plus bonuses any info would be great thanks
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Investing Inheritance
Hello, I have recently lost a family member who has very kindly left me some money which will clear off my large uni debts and a lot left over, first thought was to use it all as a large deposit (still a possibility as I like the idea of having a small mortgage). The other option is to split it between two, a small house…
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Overpayment advise sought
Hi, I wonder if anyone can advise. Is it better to overpay my mortgage, currently 8 1/2 years remaining of a 10 year fix at 5.89%, or to overpay into my occupational (defined contribution) pension scheme? I pay tax at 40%. Many thanks.....Steve
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First Direct wasted our time - Lloyds great!
We applied for a First Direct fixed 5 year @ 4.29%. That would have meant we'd be paying about £2,450 a month on repayment. They messed us around a lot, though - when I first talked to them, I gave our incomes, and the fact we were self-employed. They dithered for a fortnight, confirmed via our documents that we had earned…
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Looking at homebuy / first morgage
Hi All, The last year i have been thinking i need to get things together and get my own place. Its never really been something i ever thought i would do because i dont have any parents to help me out or a decent job. But the last two years i have have earned about 28/29 k and so thought it should be possibly with the…
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No way of paying off mortgage in 2 years
Hi Had a call from my in-laws this evening, they are 71 and 72. They've been to the bank today and their mortgage ends in 2 years and they have no way of paying back the £34K they owe on the house. The house is worth about £70K. They've asked us to buy it for them and we can keep any equity when they die. My husband and I…
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FTB looking for some advice
Hi all, looking for some general advice as looking to buy, would be looking to get a mortgage around 85 - 90k but unsure how feasible this would be - current earnings are basic £16250 pushed to around £20k includin bonuses and overtime, would just be a mortgage on my own as well. I have managed to save just over 14k so far…
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Building Society don't want endowment cheque!
Hi all, Can't believe this, had a letter from the Pru, endowment is due for payment in a couple of weeks as it was linked to mortgage it would be paid directly to Building Society. No problem! Second letter from the Pru, the Building Society sent a reply of no further interest? What does that mean? We still have the…
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changing deal after split.
myself and my former girlfriend took out a mortgage in dec 2005. however the relationship did not last and she moved out 12 months later. she has not contributed to the mortgage since, but now insists i must sell the house (with minimal equity) or refinance myself which is difficult at the moment. my question is this. the…
