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conflicting information!
Hi, I am trying to arrange my first mortgage, and the advisor is trying to sell me various "insurance / assurance" policies, and has said I have to have a life insurance / assurance policy. I have been informed by 3rd parties that the only compulsory aspect required is buildings insurance. Can anyone please clarify the…
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A quick question... Thanks.
Hi. Have had mortgage aprroved, survey/val approved... Solicitor has now written to mortgage company to confirm part of my deposit will be a gift. Will this cause any problems? Has this led to mortgage company cancelling anyone else's mortgage before? Ta.
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Costs of the practicalities of moving
Hi, FTB alert, please be gentle. I am trying to budget for moving. My research tells me that at some point I need to cough up for: 1 mortgage fees (quite transparent and easy to find) 2 solicitor fees 3 Surveyor fees 4 Stamp duty 5 Moving and furniture, repairs etc 6 Ground rent 7 Lease renewal fees Items 1 and 5 I am fine…
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Post office mortgages, rely only on credit scoring or not?
Am ftb looking for 90% mortgage. I am interested in one of there deals for a mortgage but don't know much about the post office as a lender. Do they take an overall view of you including affordability or like a bank and only credit score?
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40 Year Mortgage - Should I Change?
I was a first time buyer 2 years ago, and got a mortage from Halifax on a 2 year fix (4.89%) £520 per month which ends end of Nov. Borrowed £110K over 40 years on a property worth £146K, paid product fee upfront. Planning on going to a variable rate of 3%with Halifax when my fix ends which I have been told will drop my…
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Mortgage Product Fee
Hi, I'm a first time buyer and moving in my new place next month. I agreed a mortgage with HSBC over a month ago with a 2 year fixed rate of 4.99% + had to pay a product fee of £399. I've been on their website today and the rate is now 4.49% with no product fee. I phoned them to see if I can switch to the 4.49% and they're…
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adding joint names, along with buying new house
Hi, wonder if anyone can throw some help or a hint on how best to proceed in my current and expected situation regards mortgages. Currently: I own my house, £120k value with £70k mortgage. My girlfriend owns a £70k flat she rents out with a £70k mortgage, (100% mortgage!). She lives with me now under my house/mortgage. We…
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Tracker Mortgages HBOS - Now Under Fire?
I got a letter today from the Bank of Scotland raising the SVR element of the mortgage. As far as I am aware, every penny of that Mortgage was agreed at 1% over base. I also have the flexible options. What is this all about? I am assuming that this is a tactic to hit the Tracker Rate Mortgage holders and force them off the…
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Remortgage to use equity or not
Ok, i bought a new build house back in 2009, its a town house in a row of 4. At the time i drove a hard bargain and managed to knock 30k off the asking price and paid 170k whilst my neighbours all paid 200k + for theirs. My mortgage is 144k over 35 years and is currently at only 2.5% So, i was wondering, would it be worth…
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YBS Fixed 3.59 good deal?
Hi, Been reading the forum boards and I'm very impressed with how much knowledge and expertise there is out there. Stressed at work with little time for money matters. Anyway, been on a 5.99% fix with YBS which ends end November this year. YBS have offered a 3.59 fix for 3 years with no fee. Is this a good rate generally,…
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7-Year Mortgage Period
Hi All, My wife and I have just completed the term of our first mortgage, and first on our new home - a 2 year fixed rate mortgage with Natwest. We managed to secure 3.19% on this and now looking around the market, despite interest rates being lower, this doesnt seem to be being passed onto mortgage rates. We have since…
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Mortgage lenders and evidence of salary
I am about to return to work after being unemployed for 9 months, following redundancy. I would now like to remortgage. Does anyone have a view on how long I would need to be earning before a lender will consider lending to me? I assume there would be a given amount of time they would want to see wage slips, etc.
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Declare employment history in full?
Hi, Thinking of going to a broker next week and would like some advice. I am a FTB and have saved up around 60% deposit, I need a mortgage of circa £150k. My base salary is £6.5k + dividends which brings it up to around £70k in total. I am a company director, employed by the company. The company has existed since mid 2009…
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Help to find a mortgage
I've found a house i'd like to buy, but have a bit of a dilemma. Basically I need to borrow 20 - 30k on a mortgage. I have at least 50% deposit as me and a family members clubbing together. My problem is a) i don't think i'm on the electorial register, but i'm not totally sure (i think i have to ring the council to check,…
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20% equity and savings for potential doom, or 25% and less loan?
First time buyer / silly question alert, apologies in advance. I imagine the answer is that this is a very personal question, and all comes down to how my g/f and I assess risk to our jobs in this day and age. Anyway, 2 options I am considering: (a) We can afford 25% equity but that clears us out of savings entirely. I…
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Part exchange a part exchange!!
Hi all, I'm new to this... :) I'm considering buying a new house for various reasons. I haven't got mine on the market yet, but have spotted one for sale I rather like. It was part exchanged for a new build so is currently owned by the builders. I was wondering if it is possible, or if anyone has any experience of part…
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reducing balance
I had planned to transfer some savings and pay off a bit of my tracker mortage. However.... due to admin delays the cheque has arrived too late to 'hit' the end of the year adjustment time (it was end of September) I was aiming to reduce next years monthly payment but although I now can't, are there still benefits to be…
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mortgage for bad credit, even though all paid off now
Like a lot of people in the last few years I had some financial difficulty and defaulted on a credit card. I've learned my lesson and am about to pay this off completely, by early next year. The default happened in 2009. I have no other significant debts but I do still have a bad credit rating and will do for a few years.…
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2 Year Fixed Rate Mortgage Providers Wanted
Hi Guys I want a competitive 2 year fixed repayment mortgage, in which the lender will lend 3.5 times earnings based on average of last two years self employed earnings. Property value £128k Deposit £20k LTV 85% Here are my last three years self employed earnings (pre-tax). I don't want the 2009 figure pulling down my…
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mysterious CCJ on file, declined mortgage, sad :(
Hi people, I have been saving for two years and and have put a accepted offer on a house which is well within my means, less than 3* my salary inc all outgoings and a good deposit if 20%. I have tried so hard to manage my finances and everything. Before I applied for a mortgage I checked my Experian report and it was…
