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Require second mortgage
Hi, I need some advice please. I already have a mortgage outstanding at 106k (monthly payment is £650) but looking to get a new mortgage on a house priced at 100k. I have 10% deposit for new purchase. My income is 46k pa. Issue is I have recently defaulted on a HSBC loan value 3k - I have setup a payment plan with the…
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Redemption fee help!
Hi, I have a fixed rate (5.59%) mortgage with the Woolwich on a ten year basis. I currently have five years left, and am struggling to pay £600 per month interest only. I have spoken to the Woolwich on the phone, and they have said there is no way of changing the terms at all unless I pay the redemption fee (£8000) upfront…
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Declaring Overseas $ Mortgage in UK Application
We own an apartment in the USA which we rent to a tenant, it's a $ mortgage with a US bank from when we lived and worked there. Now living in the UK, we want to apply for a UK mortgage for a UK property. my question is are we legally obliged to declare the US property as a liability on the UK application? Thanks
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Signing over joint mortgage?
Hi there I have been in a mortgage with my two brothers for aboutfive years now. We have been on interest only and never missed a payment.Unfortunately the house is now in negative equity – valued at £70000 andmortgage is at £86000. I had a loan of £10000 for home improvements, kitchenetc, which has been repaid. One of my…
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Old mortgage
I had a mortgage 8years ago but have no paperwork from it and cant remember who the mortgage was with. Does anyone know how I could find this out and also is there any way I can find out who the broker was as well. I have traced a secured loan I had on the property and they gave me a name of a company they believed was…
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Halifax portable mortgage
Hello, We are looking to purchase a shop with a flat above. To do this we are going to buy the leasehold flat and then the freehold shop. Our current fixed rate deal is with the Halifax and as we were concious about possible early repayment charges we contacted them early on in the process to make sure we could port or…
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Buying a house for less than the home report valuation
Hoping someone can help me with this, i live in Scotland so every house for sale has a home report which states the properties valuation. If i bought a house valued at £200 000, for £150 000, would i only need a 75% mortgage? and because i'm buying the house for less than the valuation would that mean i wouldnt have to…
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FTB parents help
Hi folks im looking for a bit advice if i can please? i am currently saving for a deposit for my first place. im 31, earn £19000 per year, have no debt and a very good credit record. I currently have £5k saved up towards my deposit. by the time i come to buy i reckon i'll have another £3k. my dad has offered to lend me…
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Cleared mortgage arrears
Hi there, Over the past year i have built up some mortgage arrears. I have now just cleared these in 1 lump payment and am now upto date. Could anyone advise me on how long it may take until i would be able to look into moving and buying a new property. I understand it could be years but i was wondering if there is anyone…
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mortgage application requiring landlord reference
Well will our sage to get a new mortgage ever end! We have had a nightmare trying to buy a new house, we currently have several buy to let's that are tenanted with the Nationwide and have applied for a residential mortgage with them, so far so good. We've jumped through hoops to get were we are but they have just asked for…
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here are some lenders that will consider ex-council flats
Thought this might be useful for people thinking of buying a ex-local authority flat at 85% LTV I'm currently in the (very early) stages of buying a maisonette in a 4 storey purpose built flat that was once local authority. My broker investigated and found the following three lenders that will consider them.…
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Will changing my address often affect my ability to get a mortgage?
I asked this already but put it in an irrevlevant forum. The problem is I havn't moved rental propertys many times but moved back in and out twice I moved here in 2007 with mum n dad (mum now passed away) moved out to flat september 2010 - never put this flat down on the electoral roll. Moved back to dads July 2011 Moved…
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lifetime mortgage/equity release
I have searched the site, but although there is quite a lot of posts on above, I just have a simple question: If you have taken out either of above are you happy with your decision? It is such a big step, and I am trying to do it the correct way, IFA, lots of research etc etc., but when it comes down to the nitty gritty…
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renting whilst looking for new house - credit score changes?
I have just had an offer for my house and want to sell before I have found a new one. We will therefore be renting whilst we search as we don't want to lose the buyer. The good news is that we will be then be a 'cash buyer' for our new home but will my credit score go down the longer I rent? i.e. is it harder to secure a…
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Offset Mortgage - linking accounts
I am getting some confusions regarding the Savings Accounts linkage with Offset Mortgages. I was wondering if someone can give me an idea if I understand this Offsetting vehicle correctly. For Example: 5 years Mortgage £X ISA - Fully subscribe to ISA allowance every year for 5 years ~ £5K * 5 = £25K Savings Account - Pay…
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Date of tracker rate changes...
I've been looking through the Ts&Cs for my tracker mortgage application, and have come across this little gem... was interested to see what people thought (but I realise it's not immediately relevant): (bits in bold are the interesting bits; rest is just for completeness) Clause 14: 14.1 We may change the terms of the…
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Mortgage Advice Please...
I split up with my partner Sep/Oct 2009 and had to extent my mortgage by another 5 year so I could affort the payment on my own. Middle of 2010 I applied to have his name taken off the mortgage but they wouldnt let me. I needed to put someone else on or pay off alot on the mortgage. Anyway he still wants to have his name…
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northern rock mortgage
Need help!! Took mortg with NR for 222k in 2008. Now neg equity. Have 100k invested in a business. AM 43 this year so leaving 16 yrs on term. Desperate to start gettin mortg down. any advise
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Relationship break up, changing mortgage
Hi A friend of mine is in the process of breaking up with his girlfriend (relatively amicably!). They live together and are joint names on the mortgage for the house they own (can't remember whether they are tenants in common or joint tenants). Anyway, the long and the short of it is that they need some financial headroom…
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Mortgage Application Submitted
Well we've done it...deposit saved and mortgage application submitted this morning. Our mortgage advisor is faxing all our documents over to the building society today and we've paid the application fee. How long does it usually take for the lender to instruct the valuation? If they do instruct a valuation is that a good…
