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Consent to Let
Hi, I am looking to reduce the LTV on my mortgage in order to get consent to let. I am with NRAM and tried a year ago but this was turned down due to LTV being too high. I am now in a position to pay a lump sum off the mortgage but want to pay only enough to get the consent. They want 70% LTV. I dont want to waste time…
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What would you do?
Hello. We have a fixed rate mortgage with Nationwide finishing in the last week of October. The amount owed will be £40000 on a house worth around £200000 (that's £60000 in the real world) The renewal options are: base rate at 2.5% = £272 per month or 5 year fixed rate 3.89%=£299 with £400 cashback. We have 15 years left.…
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FTB - should we give up?
Me and my OH are looking for a house. 5% deposit and decision in principle (with credit checks from Skipton.) I earn £23700, partner earns £22500. Decision in principle for up to £170k. Did call credit, credit report - my score 628 (5/5) and partner 620 (4/5). I know Skipton use Call Credit and we have a DIP. However I am…
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first time buyers; offer accepted...
we have made an offer on a house which has been accepted. the house is one which was previously repossessed and so is being sold by a company (presumably the bank or repossession company). we have been told by the estate agent that the company will want this to be turned around in between 21 and 28 days. this is fine by us…
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not sure where to go from here - please help
Hi! These are the figures: My partner earns £35k Me £0 My mum earns £13k My dad £0 Equity in mum & dads £85 - £90k (no mortgage) Equity in our propery - £0 (mortgage £75k Loan £25k) Buy to let in our name - £61K (possibly £10-£15k equity) My dad and I are in the process of starting a business. Myself and my partner are in…
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Halifax Mortgage Declined what now?
Im really worried that i might be about to miss the boat. I have recently been accepted for the Open Market Shared Equity Scheme in Scotland which i was delighted about as they will give me an interest free loan for 19years towards my property making buying a home affordable to me. However, i was declined the other day by…
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problems after buying a house
I recently bought a house that in the property information form filled in by the seller showed the central heating as in good working order, the seller had ticked the box for yes. I moved in an got a gas safe expert to check it and was instantly condemned, not even in a fixable state and to get a new boiler at £2500 was…
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Is it worth moving from interest only to repayment?
Is there anyway of calculating if i would be better off moving from an interest only mortgage to repayment? It's a house i rent out and is on a fixed rate until July next year. Payment is £634 a month on interest only and would be £929.67 on repayment. Interest rate is 5.58% and balance o/s is £135,152. I'm sure there must…
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Mortgage Offer - Chances after income verification?
I think we have now passed the money laundering and income verification steps of our mortgage application. My broker has said they now do the final step which is the credit score with Autoscore. I know the Experien score doesnt mean that much but if I have 999 and my husband has 924, could we still get refused if we have…
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Is it worth moving from interest only to repayment?
Is there anyway of calculating if i would be better off moving from an interest only mortgage to repayment? It's a house i rent out and is on a fixed rate until July next year. Payment is £634 a month on interest only and would be £929.67 on repayment. Interest rate is 5.58% and balance o/s is £135,152. I'm sure there must…
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Credit Rating
I just took the free trial with experian and my credit rating is 999. Would this be completely accurate? It also said that I have 20k of credit agreements excluding the mortgage. Could this be my car lease? I can't think of anything else it could be. Would a 3 year car lease count as credit to the value of the car?Or are…
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Do I stand any chance?
This is a little complicated but here goes! I have taken early retirement and I'm 57 years old. I want to move to Spain and have my eye on a villa there that has been drastically reduced to around £270k. I own a second home worth £375k with no mortgage on it. I can rent it out and get around £1,300 per month in rent. Would…
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Getting a mortgage with a fair credit score
Hi, my credit score is 821 (affected by an overdue payment on my credit card 1 moth ago which has now been paid but not updated on my credit report). I am applying for a mortgage this week as sold my house and offer accepted on a new one. Will this affect my application greatly? I have had a mortgage with a certain bank…
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Mortgage company chasing money not owed
My mortgage due date is the 15th of each month and last month as my car tax and insurance was due at the same time I called the company and told them that it would be £50 short and I would go back to my normal payments plus a little more to cover in September. The man said fine and wrote up the notes and put me back down…
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Mortgage provider has lowered offer
Hi everyone Some weeks ago my wife and I got an agreement in principle for a 90% LTV mortgage with Abbey where they were prepared to lend £148500. The full application went in 2 weeks ago and today we have heard that after affordabiity underwriting they will now only lend £14000. Our broker is on holiday so we can't find…
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bank do u turn on mortgage offer!!!!
applied for remortgage, bank AAA accepted, AAA sent me a mortgage in principle, then mortgage offerwith 4.14 rate. all information they had was correct. all signed ready for completion 1 month later bank sent a second mortgage offer at higher rate 5.4 rate :mad:informing me that they can no longer offer the chaper…
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Taking over my parents mortgage of other house
Wonder if someone can help, my parents currently have 2 houses one where we all live and one which they use to rent out, and im looking to buy it soon (the one they use to rent) there is only about 8k left on the mortgage. Would if be easier to just get them to transfer the mortgage over to me and for me to remortgage them…
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Porting mortgage - Interest
Hi guys, just wondered if anyone has any information on this situation. We are in the process of buying a new house but because we are 2 years off our early redemption period ending we are subject to a £3030 fee if we were to leave Halifax, and no other bank/bs can offer an interest rate over 2 years to save us £3030 so we…
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I need help!! Forged secured loan on my house by my EX :(
Hi, I dont know if anyone can help me I am in serious need of some advice... BASICALLY myself and my husband separated in May 2008...I found out last year that in Sep 2008 he forged my signature on a Welcome Finance loan for £22,000 - secured on our house. Welcome Finance (WF) looked into this when I made a complaint last…
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Nearly out of debt: when to try remortgaging?
I'm almost at the end of my debt journey, and come the new year CK and I will be savers instead of debtors. Our next money goals are retirement savings and switching mortgage products. While we've been paying off the debts, we've been on an interest-only mortgage with NRAM, on their SVR, and we'd like to switch to a lender…
