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Discretionary Trust - Mortgages and House Ownership Questions
Hi all. Just trying to get my head around something. Hypothetical scenario: Say a child has saved some money for a house deposit, but not the full 25% required for a decent mortgage rate. Say for example they have 15%. Parents want to give them some money (not a loan) to put towards the house. The money would exceed what…
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Mortgages and New Job
Hi We have a mortgage AIP and are currently awaiting a response from our full application. We are buying a new build and it won't be ready until end of the year. Our mortgage provider have said any offer will only be valid for 3 months, so there is a danger of us having to get the house re-valued to extend the offer. If I…
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mortgage re pay
i have a £18,500 life time tracker mortgage at 1.5 above base with the halifax with approx 3 yrs left i have £10,000 which i could use to pay off some of the loan the payments are £596 per month should i pay it off or just keep paying till the end :o
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Credit rating advice please
Hi all! I have recently sorted myself out financially and am now working towards paying my debts as quickly as possible. As I like to plan ahead (quite far!) I want to save for a house deposit when the debts are done. Can anyone give me an idea of how long I should spend repairing my credit rating for before going for a…
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Current deal expired
can anybody please point me in the right direction my current fixed rate is running out an iv searched the comparison sites n it dosent give an option for this just 1st time buyer etc, i put 12k down when i bought the house so does this class as the 'deposit' when searching for a new deal please HELP!
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25% deposit FTB finding difficult to get mortgage due to new job.
To start with me and other half are absolutely gutted. I earn around 54k and changing to a better job with salary of 53k, but with lots of company benefits and potential, in the same line of profession. After years of looking for perfect home, just found one which needs some work to be done. But we have saved a huge…
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Bad experience with London and Country
Most people seem rate this company but I'm having nothing but hassle. About 2 months ago I initally contacted them regarding a mortage, and the response was good. Received the email a with the L&C decision in principle. Now I have had an offer acctepted on a property and trying to get hold of my advisor is a complete…
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Porting an existing mortgage
Sorry if this is a stupid question. When porting a mortgage am I right to think that you can only port the remaining balance of the mortgage and not what was the original mortgage value? For example in 2007 we got a mortgage of £115,000 and the current balance is around £105,000. If we port the mortgage to fund the…
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House Valuation
Hello...just a quick question Im in the process of switching lenders and i have an AIP ( i know they arent set in stone before someone tells me)...anyway ive tried to be as honest as i can be in the valuation of my house £130k..i,e good state of repair...though we do need a new kitchen.Ive based it on houses in the…
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Mortgage applications rejected.
Has anybody else experienced this? My wife and I fit the salary requirements comfortably for our 2nd home. With a deposit from the sale of our house (10%) and 5% deposit match from the builder we need 85%. My FA has just processed 2 applications and both have been declined. I have checked our credit report and they are…
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trying to raise money on home
i am with the britania and i was looking through their website which offers home improvement loans up to the value of 85pc. i have a uk property with a value of 175k which has a 55k mortgage on it.--i now live and work abroad which means i only have 8k of uk income that i can show to the building society(i got the mortgage…
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What to do now endowment has matured!
My endowment matured at the end of last month but like most had a shortfall of £8,000. I started a repayment mortgage a few years ago to cover the shortfall.My discounted period on my repayment mortgage is coming to an end this month and still have the endowment money in the bank to clear some of the mortgage.Once the…
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Help with Shared ownership mortgage
Hi All, I have a question for you about my situation which I am quite confused about. Here goes.. I just sold my flat for 155k. The original price was 167k but I only own a 35% share. My original mortgage was 58k but after repayments is now 50k. I guess what I want to know is how does this work? Do I still have to pay what…
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overpaying on Interest only Mortgage-please give me advice
Hello Will keep brief Mortgage approved with santandar......111000....Im single parent work full time....my mortgage is IO.....I know dont like it really but for reasons -initially thought best to go this way following advice (financial) 25% down on house got at reduced price-good area-should increase in value etc Been…
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Suspended Repossession Order being issued - should I attend court?
I have been informed that my repayment offer has been accepted by my mortgage company, but they are still going to court tomorrow to get a Suspended Repossession Order (originally they were going to court tomorrow to get the normal repossession order). My question is, do I need to attend court? Is there any advantage in…
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Looking for 1st time buyer mortgage with low or no fees.
Hi, We`re Looking for 1st time buyer mortgage with low or no fees and decent rate. Total income approx £45000 House value £155000 We have a deposit of £20000 Thanks
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Buy-to-Let to residential, opinions please.
Hello All, I’m hoping someone can give me some advice, I’m a first time buyer wanting to buy a property to let with the intention to move in (main residence) in around 4 years time. I have found a house, and a few lenders have offered me b-t-l mortgages (NatWest and Northern Rock). My question is, if I take out a…
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Better Intermediaries-only deal for The Mortgage Works?
Hi, I am just about to apply direct for The Mortgage Works 4.99% 5 year fixed. I just wanted to know from the kind mortgage advisor's on this site, or anyone who has had a better offer, whether there is a better intermediaries-only deal for the The Mortgage Works or maybe any that are imminently coming to the market so I…
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Halifax Lost MI 12 Form 3 Times
Oh Dear, Where do I start...!! Handed 3 MI 12 Forms into the halifax at their branches, Just had a call today to say that the DWP has not received it from Halifax.:mad: This was the same last month, Filed the form in at the branch, Handed it in, Then we didn't hear anything and then was told that it had been 'Misplaced' to…
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Adding our debts onto our mortgage?
My fiance and I are looking at buying our first house and have our deposit, but also have some credit card and overdraft debts. I was wondering if banks allow you to have more than the value of the house as a mortage, effectively allowing us to pay off our debts and have them tied in with our mortgage?? We have been told…
