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Mortgage payment insurance for unemployed to begin with?
Three of us a going in on a mortgage together (a single person and a couple). One half off the couple is unemployed with sporadic income (but some savings that could cover payments in the short term if all income is lost). The employed half of the couple could conceivably cover payments too. How should we deal with this in…
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Received Formal Mortgage Offer, but Interest Rate Has Since Gone Down. Re-apply?
Hi, We got a decent deal on our mortgage offer as a FTB with a good deposit. We've had our formal offer, but not yet paid any booking fee as added to the loan. Can we re-apply for the mortgage as the interest rates have gone down with the same morgage lender? Is it possible, and are there any fees or penalties? Thanks in…
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Help with my mortgage please!
Hi, I have a bit of a problem with my current mortgage situation and am looking for some advice please. We bought our house 4 years ago and got a 110% mortgage from BMS (bad move) the house cost 115000 which was broken down to 100000 mortgage and 30,000 unsecured loan. We have now outgrown the house(family getting bigger),…
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Could I get a mortgage as well ??
I have just inherited 50% of a property. The other half has been left to my brother. Its a fantastic house that has been in my family for 32 years. I wish to buy my brother out but need to stump up 100K. Now a little about my previous history. I left the UK 7 years ago to live in a warmer climate. When I left the UK I…
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Could I get a mortgage?
I've read online that part of the criteria for getting a mortgage is that you should have been in your current job for at least two years, I have been in my current job for nearly a year and previous to this I had periods of unemployment and short term jobs. On the positive side my current job is permanent, I have a 10%…
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is this a reasonable thing to do??
I don't know if this is the right place to post this My husband will need to spend half of the week away and will need to rent a place to stay. We thought we could avoid rent by buying a small property - he would use the place for say 2 years and we could rent it out afterwards. We have £30 in savings and are about to…
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What is the best option with our mortgage?
Good Evening All We are now in a position where we can pay off £69,000 from our mortgage leaving us with £31,500. We are currently on an interest only mortgage and would now like to start overpaying what we have left. Are we best to put this back to repayment or leave it as interest only? Mortgage payment interest only…
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Mortgage Deed Conditions - Empty Property
Does anyone know if there is usually a clause in Mortgage Deed Conditions that say you shouldn't leave a property empty for long periods of time? My partner and I are moving our of his mortgaged property into a new one and his mortgage lender is being really unreasonable - they won't give him consent-to-let to rent it out…
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Divorce & Mortgages
I have been divorced from my husband for nearly a year, and I am also on a joint mortgage. Since we split he has accrued over £15k of arrears on the mortgage and our building society have not supported me. I dont and never have paid onto the mortgage, it was in name only. I am trying to be removed and its up to the…
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Tracker at 2.19% or fixed 3.6% 5 years?
Hi there, any advice on these options? The problem is that the tracker is re-negotiated at 2 years with another £1000 fee at that point and possibly 2 yrs after etc, whilst interest may (should?) increase by 5 years to make the 5 year option more attractive. I know this involved a crystal ball, but would do you think?…
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PO Box Address??
We are retired ex-home owners who now live in a wooden chalet/parkhome. We are attempting to by two properties to let in the Worcestershire area but are finding it increasingly difficult to obtain an acceptable credit rating to satisfy our mortgage lender. In principle they have accepted a PO Box address but because it…
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£20,000 mortgage V bank loan?
We have sold our house and are looking to buy another. The upshot is that there is a £20000 difference which we will need to borrow to move in. My question is, would it be better to get a mortgage for this amount or just get a bank loan for the same amount, if possible. Which would be the cheaper option and what about…
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should we sell or keep
Basically my wifes 100% mortgage is up for renewal. we currently rent the property oout and rent ourselves up north. With costs we have to cover mortgage by 140 but we would have to pay that if we lived there ourselves. we want to sell but at moment we wint break even and will end up loosing money. This is causing problems…
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Avoiding Early Settlement Fee
I have a mortgage with northern Rock which has about 5 years to run. I am now in a position to pay off the £23000 balance, but if I do so early, there is a £1500 early settlement fee. A friend has suggested that if I leave a balance of just £1 in the account for the remaining period I can avoid the £1500. Any help would be…
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very basic mortgage question
this is probably a daft question but could someone please clarify if this is how buying/selling a mortgaged house works: say that i have a property worth 100k with a mortgage of 75k (solely on my name) and want to upgrade to something of 200k (getting a mortgage together with my husband). can i sell the house, pay off the…
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Need advise - buying a second house
Hi, We are looking to buy another house and are selling ours. The problem is I have some unsecured debt which is affecting the amount we can borrow. I would like to be able to pay this off with the equity from house sale thereby allowing additional borrowing for the new house. We would still be living well within our means…
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Mortgage advice for 20 year old and Mother
Hello folks, My Mother and I are currently living in the familly home owned by herself and my father. My parents are divorcing and going their seperate ways. After the divorce proceedings are completed it will leave my mother with around £70k. As I wish to remain living with my Mother for the short term future, we have…
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Mortgage advise
Hi there, new to this and looking for some advise. When I bought my flat I went through an independent financial advisor and got a fixed rate mortgage for 7.04% for 5 yrs. This was 3 yrs ago and as a 1st time buyer i was advised this was the best i was going to get at the time.When I called my mortgage supplier I was…
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BTL/consent to lease or pay off mortgage quandary
could i pick people's brains on this matter? i have a flat that i moved out of eight years or so ago and got consent to lease at the time (have a residential mortgage elsewhere). the mortgage on the rented flat has been on the halifax's svr for the past few years and they have just been in touch to say my consent to lease…
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If buyer pulls out ....
Hi Just hoping for some information/advice please. If a buyer pulls out of a purchase before exchange but after having received their mortgage offer, would they have to pay the mortgage arrangement fee if they had previously arranged for it to be added to the loan? I appreciate that the answer might be that it depends on…
