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Taking on Parents Mortgage
Deleted as post had some inaccuracies regarding parents affordability....!
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Mortgage with a £75 Default
Hi, I was wondering whether anyone could offer their advice please. Back in 2007 I very naively signed a mobile phone contract on behalf of my flat mate at the time, who defaulted on the last 2 payments. I was not aware of an owing payment until November 2010 where I received a phone call stating I had a default and owed…
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Remortgaging whilst house is on the market
We put our house on the market on the 1st June this year as yet no interest. The housing market is stagnant in our area and we have had friends whose houses have been on the market for a couple of years already. I have an LTV of 54% and am 5 yrs into a 15yr fixed rate with NRAM. So we have no early repayment fees. I have…
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Mortgage as a Director of a Ltd company - Proving income
Hi there, over the past 5 years or so i have been saving for a deposit for my first property with my other half. we have manage to scrape together £50k and are ready to start looking. our budget is around £200k so we have a 25% deposit. 18 months ago i started my own business and broke away from my current PAYE salary. The…
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Buy New Home using equity of current 2 properties
Hi, My partner and I both own our own homes. Mine is sitting around 35% equity and his around 75% equity. His is already rented out and we live in mine. We would ideally like to keep both of these as rental properties and then purchase a new home to live in. Can we do this and secure the mortgage on the equity of the 2 we…
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Mortgage for Timber Built Holiday Home - Help!
Hi, I am wondering if anyone can shed any light on obtaining a mortgage for a holiday park home - Scandinavian style chalet. We are looking to purchase as a FTB and not for letting, but to live. Have tried Park Buy Assist, who can not help as they only lend as a minimum of £60k or £65k. And the property we want is £55K.…
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First fixed rate ending, what next?
Hi I could really do with dome help please, my 2 yr fixed rate is ending in October and I don't know what to do next really. Were on a rate of 6.9% at the moment, so I'm guessing and hoping that it will come down! I'm not sure how much we've paid up to now, we brought for 133,000 and put down a good deposit, think we had…
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Discount Mortgage v Fixed
I am pretty stuck at the moment and not sure which product to chose. On the one side I can go to RBS who at the moment offer a FTB mortgage of 4.99% for 2 year fixed rate reverting to the current SVR of 4%. I also have on the other side Furness BS which I have not heard about that have a discount mortgage for 3 years and…
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Desperate to move
Hi, we're desperate to move for various reasons. The house has been on the market since Easter but we haven't had much interest. We're on our 2nd estate agents now and they are saying the same thing as the 1st - there are too many identical houses in the area up for sale. For a number of reasons we are desperate to get…
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HomeBuy / Firstbuy Mortgage
Good morning everyone! :) Me and my partner applied for a 'normal' mortgage (85% LTV) about 6 months ago and got accepted with Halifax (even though i do have adverse (but old) credit) I am a customer of halifax and have the ultimate reward account with an overdraft so i guess this helps! We didn't have enough deposit so…
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Mortgage for 19yr Old First Time Buyer ?
Hi Everyone :o ) Well I have been going over and over in my head and I am definetly ready to get myself onto the property ladder. I am 19, I have been working ever since I could. I currently live with my parents but have previously lived in my own for a year before moving back in with my parents (not through choice lol) I…
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Cashing in an Endowment Policy- advice needed
Hi everyone, I am at the moment, chipping away at our debt, and I have a lapsed endowment policy, that I stopped paying in 2008 as things were financially in a terrible state, due to oh business drying up due to recession. Anyway, it is a royal London endowment, I have just received the surrender value of £1986.71. really…
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remortgage help required please.
Hi I have a fixed 5yr mortgage with Lloyds TSB on my home valued at around £200k. Its at 5.79% and expires on 31/5/08. The payments are affordable, indeed I am overpaying about a £100 a month already ( I pay around £700 a month) , and I had intended to let this run its course. I want to clear the debt by by age 60 in 2019…
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Deposit gift
Hi, In last stages of mortgage app - ie a week after move in date - and the lender keeps asking for more info. A family member is giving me a large amount of money to contribute towards the deposit. The lender now wants a letter from this family member confirming it's a gift and they'll take no interest in the property.…
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Mortgage Protection Clause
Hi everyone I need an advice. We are First Time Buyers and found a shared ownership house. We have a 10% deposit and got a mortgage promise from Halifax. But during the bank appointment, the mortgage advisor asked if the property lease includes mortgage protection clause. We now found out with the housing association that…
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Trying for a Mortgage with Bad Credit - Looking for Advice!
Good evening All I am a first time buyer and I am looking at a joint application with my boyfriend. I earn 14.5k and he earns 24k so we have a joint income of 38.5k. We are looking at buying a property for 128k and have saved a 5% deposit and trying to get to 10%. The problems... In 2008/2009 I went through a period of…
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Mortgage advisor help
Hi, Im looking for some advice. Im thinking of doing my CeMAP 1,2 and 3 to get qualified as a mortgage advisor. A good friend of mine owns an estate agency and there is room in his office for me to set up on my own, if this is possible, with him passing on any leads he gets to me. The trouble is im really not sure of the…
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new mortgage, want to borrow more
Hi all, I am about to take out a mortgage on a house i am buying, the mortgage is with the halifax. I have had to put a 35% deposit down which equates to around 38k, this is due to a poor credit rating. I have had a look at the halifax website in regards to their criteria for borrowing more and they say; you can borrow up…
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Help!! Seeking Expert Mortgage Advice
Hi, We are looking at taking up a mortgage for a new property and hope to raise the deposit from a property in my wife's name. We have valued this property and are confident we can raise the deposit by remortgaging. However, there are a few issues here. The property is in my wife's name only (as is the mortgage). Because…
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Concerned I will be refused mortgage - Shared ownership
Hi, I have an agreement in principle with Woolwich for a mortgage of £48000. I have an offer on a flat for £60k which has been accepted and all looks good. I am concerned as at the moment I pay £400 rent, my costs in my new flat will be £780 - I am able to get in a lodger which will aid me in paying my mortgage and this is…
