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Advice needed
Hi New on here, so please be gentle :) I got a DIP for a mortgage about a month ago and started looking at properties. Found one I love and submitted my application via a mortgage broker. We're using the Abbey and to say they are slow is an understatement. Just over a week ago they said they would be instructing the…
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How much notice to take of SVR when remortgaging?
Hi, My partner and I are looking to move house, and therefore need to borrow more money. We can't keep our current mortgage as according to my IFA, Bank of Scotland have stopped lending outside of Scotland. I am keen on the Norwich & Peterborough rates, 3.99% fix at 85%, or a 2.59% discount for two years. However, my IFA…
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How to get a mortgage with no deposit but equity?
Fortunate but frustrating one this... I have been offered to buy my parents house worth around £500k for a price of £150k, a very fortunate offer I know (part of inheritance), but tried getting an offset mortgage with First Direct and they said that because I was purchasing the property for £150k that it would be a 100%…
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Mortage protection insurance
A little survey of the community, if I may: Do you have life and critical illness insurance for your mortgage? What's the premium? Thanks.
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'Cheap' Conveyancing?
Hi All, Okay...regards conveyancing. You call up a local solicitor and they want £500 to £700 plus VAT. Yet, you see all these websites offering conveyancing from £149. Is there any issue with using these cheaper places? What's the consensus?
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Releasing equity on a property
Hi all, I'm looking for some advice concerning releasing some equity on my current property. At the moment I own my current property and it's worth about £140k, it's mortgage free and I'd like to release up to £70k max - for the purposes of buying a second property to rent out. The question is, given I want the money to…
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Mortgage Question
Hi, I have a question, which I hope doesn't sound too simple, but something really just doesn't make sense to me. You read everywhere in the press, in regards to mortgages and homebuying, that you need at least a 10% deposit to get a mortgage. What doesn't make sense to me, is that when these things are talked about,…
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Mortgage question - which balance to overpay??
Apologies if this seems like a stupid question to some, but I have the following two mortgages: 1. 3.99% fixed until Feb 2012, currently £100,427.00 2. Variable (currently 4.99%), currently £9,650.00 I will soon be overpaying my mortgage each month, even if its only by a small amount. My question is, which of the two…
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Should I use John Francis Mortgage advisor? How do they get paid
Hi all Im looking for a first time buyer mortgage. I had a chat with a mortgage advisor from John Francis just to see what they could offer really.. She said that she does not charge a fee and does not get commission. She gets a standard wage and no bonuses etc.. So is this genuine? How do they get paid? I am new to this…
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Best first time landlord mortgage
Hi, I am planning to buy my first buy to let flat with asking price of 178000 and i went to mortgage broker he suggested me to use mortgage works with one fixed one.I am planning to put 25% of deposite. Could you please provide your suggestions which mortgage is best at this moment. Thanks for your help
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Docs for a full mortgage application - Just 1 payslip?
Hi there. We've just submitted an online mortgage application to ING. In the end of the process we got a personalised checklist of all documents we need to send them to consider our application. What is strange is that they are only asking us to send them 1 payslip - my most recent payslip, and that's all. The application…
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Offset - is this right?
Hello all. I've got a question about offset mortgages I was hoping to could help me with please:) If I can get a mortgage which is @ 2.04% and will keep my savings in normal savings account with 2.4% net interest - does it mean that I will be better off keeping savings separate? cause they would be earning more money in…
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Received endowment cheque, Do I pay straight to Building Society or reinvest?
I have just received my endowment cheque after 25 years. Yes, lost thousands but took the gamble and no lump sum to invest in the future as advised 25 years ago just got to take out new mortgage for value left to pay on mortgage. Do I pay directly back to existing mortgage. Are they going to take a piece of it too? Or do I…
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Bridging finance for property?
Hi I have a house worth £450,000 approx. with a current £40,000 interest only mortgage -with £10k still available to draw down. My current mortgage lender, First Direct, is not interested in a short term lending proposition!!! I want to sell mine and purchase a tumble-down property which we know is coming on the market @…
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change joint mortgage to sole mortgage
I and ex purchased a property in 2005. Three years ago she ran off with another man (and took our 2 children). The divorce is hanging due to the property. I have paid the mortgage from start till present. I was also made redundant 3 years ago and have been working as self emplyed ever since. The accounts do not make good…
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Mortgage Application - FTB Help!!
Me and my partner have put in a Mortgage Application and have fronted nearly £45k for a deposit putting us at 85% LTV. Having had an AIP (Agreement in Principle), the mortgage specialist at the bank has instructed a suveryor (which we paid for) and they are out at the property in the next 2 weeks. Does this effectively…
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Need to sell house following divorce
I separated from my wife last year and we had a joint mortgage together, I still live in the house we shared together and she has moved to America. I have been paying the mortgage ever since she left, she hasn't contributed a penny. It is now coming to the end of the divorce and we are trying to sort settlements out. The…
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Deposit percentage befuddlement
Hello all, I'm having a dim moment and am sure someone can help me out...please? If, I had £40,000 and wanted a mortgage for £200,000 for example, would my £40k be considered 20% of the full house price of 200k or 25% of the £160k I would need to borrow? I'm sure it's very obvious but I can't quite get my head round which…
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Mortgages on one property made up of 3 flats?
Hi. If I have one property which i own and it has been converted into 3 self contained flats that are rented out, but there is just the one title - is there any chance of getting a let to buy mortgage on it? I have spoken to one lender who said that each flat would have to have its own title, and they could not lend…
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Mortgage for Non EU
So after receiving an offer in principal, I spent an hour in bank today doing all formalities. Everything seemed to have gone through alright. Just had a call from bank manager that they need Indefinite Leave to Remain on my passport before they can take my application forward. I have been here for the last 9 years and…
