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NRAM wont accept offer want voluntary repo
Can anyone help please. House was originally bought for 89k, there is 120k outstanding on mortgage and secured loans. It has been for sale for nearly a year and NRAM have now started repossesion proceedings. In court 8 weeks ago there was a break given to try and sell it to avoid repossesion. It has been valued at 45k,…
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remortgage from res to BTL
Hi, I'm hoping someone can make things clearer for me! We bought our house in 2002, the relocated (renting) and rented out the house on a 2 year permission-to-let agreement in 2010. This 2 year agreement is nearly up, so we will need to remortgage, but to a buy to let mortgage instead of a residential one. I'm not sure if…
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Adverse credit and shared owndership
Hello all, New poster here, looking for some honest advice. I am in the process of dealing with an independent mortgage adviser. I am looking for a £35000 mortgage with a 10% deposit. This is for a 40% share. They have come back saying that due to adverse credit this is looking unsuccessful. I have a default on my credit…
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Landlord mortgage information needed
Hello I've just tried googling about landlord mortgages and I can't find anything useful so if anyone could help it would be greatly appreciated. Basically, I've been living in my flat for about 6 years and I want to sell but with the way the market is its not going to be an option yet so I'm thinking of renting my…
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Complicated Remortgage
My fianc!e bought a house with her sister 3 years ago. Now that we are getting married her sister would like to move out. Ideally what we would like to do is transfer her sisters deed to myself and remortgage the house in our names so we can release the equity to the sister to use as the deposit for her new house. This is…
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Advice for FTB please
Hi All, Bit of background: have found a house through a family friend (private sale). She wants £119,000.... neighbours have offered asking price, but she would rather we have it and has said she will go to 118,000 for us. We have a deposit of £30,000 (25%) giving us a mortgage of £88,000, there is no chain involved on…
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first time buyer advice please
my partner and myself are looking at getting a home together. our combined wages are only £27,000 but i rang our bank to see what we could get, they said £115,000 and this would be over 28 years and cost £707 per month - i dont think i can afford £707 per mth on my wages with other bills. my questions are: 1) £707 x 12 x…
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Self cert remortgage - Trapped !! need advice
As a self employed person and have been for many many years, we took on a self cert mortgage 7 years ago, we have never missed a payment ever, and have a perfect credit rating. We dropped onto interest only when we started our family who a are still v young, now with all of the changes that have been made to self cert and…
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First time Buyer, mortgage advice please
Hi Everyone, Thanks for taking the time to read this, I am at a stage where I might be making the biggest investment of my life and what better place to seek advise than MSE! I will break my concerns and questions as simple as possible and hopefully someone can give me somewhat accurate up to date advise. Me: Good credit…
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First time buying advice
Me and my partner are looking into buying a place together in the next few years so thought i would try get some advice on how to do things. I would say our combined income is currently around £37000ish a year. We have a £10000 deposit and we are currently saving to get a little bit more. Not looking at doing anything till…
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Joint/Mortgage with ex.. a bit complicated
Hi all, I am in a very tricky position regarding joint mortgage and abusive ex, I will try and keep it brief. We are currently in the process of divorce, it has taken one year to get to nisi stage, I fear there is much longer to go anyway he is renting out former marital home to tenants and he has come to an agreement with…
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Finance help please
I will keep it as short as possible... I live with hubby (both 29). 6 years ago before we met I bought a 1 bed apartment in Cyprus off plan. I was very naive but actually after watching Holiday Homes from Hell I feel lucky to have a nice apartment.... It is rented out to a single lady who pays 300euro per month. The…
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Shared equity scheme
Hi everyone. :) I bought a home on a shared equity scheme in 2008 for around £120, 000. I borrowed 75% and am paying that off. The other 25% is to be repayed to the builder within 10 years of buying the property (so 2018). The 25% would either be 25% of the market value of the property (at the particular time I wish to…
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Aviva CU Homemaker Mixed Performance
Have a strange one that I would be interested in feedback on if possible. I have two with profit endowments that were CU Homemaker, now Aviva. Performance for two is very different: started matures target projected MEP 1995 2013 £63,000 £44,000 £950 1998 2014 £75,000 £65,000 £9,800 The later endowment performance even…
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Multiple Mortgage accounts on 1 property
Over the years with moving house and taking out extra borrowing I have ended up with 4 mortgage accounts against the 1 property. These are with Nationwide and the last time I sorted out a fixed rate deal they said I could not consolidate all the accounts into 1. My question is. By having to negotiate a new rate for all 4…
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2 or 5 year fixed
evening is it worth going for a 5 year fixed deal? i'm a ftb and just had a offer accepted, putting down 15% deposit and been offered 4.99% fixed for 5 years. but i will be paying £60 a month less on a 2 year deal. any thoughts on what would be best?
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"Let to Buy" Transaction - Timing of Mortgages to Avoid Early Repayment Fees
Hi all, My wife and I have a residential mortgage with First Direct on a central London flat that we currently reside in. The flat is valued at £320k and our mortgage outstanding is £185k. As we now need a bigger place, we're looking to buy a house in the outskirts of London, move into this property and rent out our…
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Does anyone know how a Landlord Concessionary Mortgage works???
Was wondering if anyone knows any further info on the above. Our landlord has just served notice to us after 10 years renting, he has told us he has no problem in selling to us. Our problem is we do not have a large deposit to put down and have no family members to ask for a helping hand. I spoke to a mortgage broker who…
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debenture
I am interested to know what this is, and how it can help a company if anyone can let me know i would be grateful it is in relation to a Debenture for Form: MG01 - Particulars of a mortgage or charge PARTICULARS OF A MORTGAGE OR CHARGE / CHARGE NO: 1
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FTB - Bad credit
Hi After just buying my first house my boyfriends sister now thinks it would be an idea for her to do the same. Unfortunately she has bad credit and i dont know if this would effect her chances of being able to borrow. In 2009 she had racked up various defaults - ones for as small as £28. She was going through a rough time…
