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Income Multiples or Affordability?
Which do you subscribe to? If any. The old fashioned multiples whereby you would look to borrow 3.5 times the main annual income in addition to one times the second income OR 2.5 times the joint annual incomes. Or the new style 'affordability' calculators that take into account essential outgoings, day-to-day living costs,…
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Overypay or Save....that is the question.
Can anyone help me out with an ongoing dilemma.... I'm currently overpaying my mortgage every month and hope to be able to continue to do so this year. Overpayments will become smaller from 1st May with the Halifax interest rate increase...boo hoo! I have approximately £300 which I put into savings each month but I'm…
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Mortgage PPI - refund??
Call me a bit slow on the uptake here. Been hearing about PPI for ages and never really listened as we have never had any loans ... it just dawned on me that I do have a mortgage :D and that we had a big gripe when we first took it out which DID concern the amount of insurance we were advised to take out. Back in 2004 both…
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Is Remortgaging a house- linked to home insurance?
If a property is to be remorgtaged, ...(the mortgage is paid off)- but a loan taken using the house as collateral....... then is this remortgage company linked to the HOUSE insurance company? Note- - Both the mortgage/remortgage company + Insurers are with the same bank do they check/compare notes?
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Mortgage checks
Does anybody know if I will be credit checked again after receiving my mortgage offer in writing but before completing on my purchase?
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Newbuy scheme and Redrow
Hi I have been off the housing ladder for a year and decided to get back on with the newbuy scheme, I found a nice Redrow home and visited it a couple of times, two weeks ago I told the I wanted to buy it and negotiated the stamp duty being paid and 5% off the purchase price, or this could be used as deposit. I had the…
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How do we reclaim the mortgage valuation fee
As ex-pat in NZ, We have recently applied for a mortgage on our UK property via a UK MA. We made it abundantly clear on several occassions over the course of our correspondence with our MA that we could only consider an interest only mortgage. The application progressed with the Halifax, we paid the valuation fee and…
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Nram contact numbers
I have been trying since Friday to pay my mortgage over the phone to NRAM. The calls constantly drop out during the security checks or don't even get that far before just dropping out on 08456099610. It is the month end and obviously I was panicking. I eventually managed to get through this morning. Eventually the call…
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do you think
hi guys,,my endowments are due to mature in 6 years ,i have about £50,000 profit on my house,at the moment,I have MS and do not work,but get benefits,DLA etc,I am in need of a down stairs loo,,need to build a little extension,for it,do we think I could get a morgage to do this,,ty for ur replies just sent a message to myt…
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A few quick btl questions....
I bought my flat (ftb) for 117.5k 6 months ago with a 100k mortgage. How easy is it to get a btl mortgage now? i've tidied the place up - new bathroom, stripped and painted the walls, put some timber flooring down, mainly cosmetic except the bathroom but say it is now worth 125k and that in 6 months time i'll only owe…
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First Time Buyer - Seeking Advice!
Hello, I worked out last year that as house prices were stable (or decreasing), if you were renting but able to save money towards a deposit, this would make more sense, than getting a mortgage because of the interest you pay back. I am now in a situation though that if I continue to rent, I am unable to save any money,…
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Does bank run credit check when applying for AIP
I want to ask for AIP from lender, and have a few questions here: 1. Does bank run credit check when processing AIP application? 2. How long is AIP valid for? 3. Could I request AIP from more than one lender? Could anyone advise please? Many thanks.
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I need a standard Variable Mortgage Contract
Hi there, I'm new to this forum and I'm hoping someone can help. I am looking at purchasing a commercial property in the UK and the current owner has offered me a private mortgage. The property is freehold and he has offered the mortgage for a term of 10 years, at a good rate - interest only, tracking 3.2% above BofE base…
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Advice on BTL mortgage......
I relocated with my husband in 2005, our property that we lived in for 6 years on a joint repayment mortgage gained 100k equity however after sitting empty and us paying the bills it didnt sell and we decided to swop to a interest only Buy To Let mortgage. We became landlords through circumstances of not being able to sell…
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first time mortgage.
Hi everyone. I just got a mortgage agreed in principality today. It was an 80% mortgage with the woolwich at 3.9% with a £500 fee. Fixed rate for 3 years. I have a independant mortgage adviser who does charge a fee, though he will be being paid commission by the mortgage provider and not me. I have a few questions. Do you…
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Want to buy a new home but refused mortgage
Will try and be brief :) Bought our home with Skipton mortgage five years ago, no issues with payments. Husband in good job ten years same company, salary this tax year 111k. Coming year increased to £120k with 20% bonus plan. Credit card debts between us of around 18k with 2 car loans totalling £400 per month repayments.…
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unregulated mortgage
The FSA says that National Home Loans are unregulated but Paragon is regulated. As Paragon are now administrating National Home Loans, does it mean they are now regulated? Can anybody clarify please?
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Mortgage Refusal Minor CCj
Myself and my partner have recently had a mortgage offer refused due to a CCJ that i was unaware of against my name in reference to an unpaid private parking ticket. After scouring the internet when i first got the parking ticket, i gathered enough information to basically ignore it and the private parking company would go…
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Poss Simple Question - Deposit for Remortgaging
Hi all, We're currently on SVR and am wondering whether it might be time to look for another fixed rate mortgage. However, we don't have much spare money at the money. Do you need a deposit? We currently owe arount £144,000 on a flat that is worth around £150,000 (I hope!). thanks!
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What should i do with my Endownment?
I have Pru (Scot Amic) endownment which will leave me with a shortfall on maturity. Yesterday i asked for surrender value and projected values, as i want to work out my best option to deal with shortfall. If i post all details, i was hoping that somebody could give me an opinion on whats my best course of action. My…
