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Credit rating fear!
Hi all, Me and my partner are looking to buy a house in a couple of years time, so have gone through my accounts, trying to work out where I can cut off cash to put more towards a depost. I used to bank with Lloyds and when I logged on I found out that I was in my (agreed) overdraft and have been for 6 months now to the…
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Remortgage, redemption sum a bit off
I'm due to complete on a remortgage from Halifax to Britannia on tuesday. Britannia's solicitors have given me a spreadsheet detailing the advance that Britannia are providing, their fees and the amount that Halifax have requested. The figure from Halifax is around £900 higher than it should be. I spoke to halifax and they…
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Halifax KFI
I have seen I property I am interested in and obtained a Halifax KFI for the asking price. However looking around a bit more at mortgages, I'm not sure if I'm being particularly money savvy. My main reason for going to them first is because I already bank with them. I have a 25% deposit, and their fixed rate for 2 years is…
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Assessing a mortgage application with background mortgages
Hello folks I would appreciate informed opinions on whether I'm being unrealistic in my intentions, or does the situation I will describe below look like an achievable goal? I would like to apply for a mortgage to buy a new house as my main residence. I intend to let out my current home; mainly because with the current…
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Abbey - Mortgages
Hi all, I've recently applied for and been accepted for a mortgage with Abbey. We get the keys of our new flat on the 28th of June. I wondered if anyone had any idea when our first mortgage payment is likely to come out? I've asked our mortgage advisor but he just ignored me, and I'm trying to figure out my spreadsheet for…
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Santandar deal
After a hour on the phone this afternoon i secured a 3.79 fixed for 2 years, fee free, only thing is i had to pay the repayment from a Santandar bank acct along with two other DDs otherwise i would have to pay a £900 plus fee for the rate. So ive opened a Santandar bank acct and they gonna phone me back next week to…
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Expats returning to UK, no income/morgage
We are due to return to the UK this summer and are looking to obtain a small mortgage. However, at the moment we have no income/employment lined up for our return. We only require a mortgage of approx £40K (approx 20%) as we have the rest in cash. We will also have a cash injection of approx £30k a couple of months after…
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Adverse Credit Mortgage Deposit
Hi All, I am looking for some guidance on the amount of deposit required in order to gain a mortgage at the moment. My partner and I are hoping to buy a new build house at circa £189k. She has a near perfect Credit Rating of 996 on Experian, However, mine is not so perfect as I had a few defaults on small accounts over…
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Do credit card limits (not balances) affect mortgage availability?
Sorry for all the questions! This one just occurred to me when reading another thread. I have 2 credit cards with limits of £4,000 each. I am nowhere near my credit limit on either of these, but would the fact that I could potentially run up £8k of debt be a warning flag to potential lenders, especially as I am earning…
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Contracting or a low-paid FTC -which is more appealing to a lender?
I am not sure if there is a black and white answer to this but I wondered which of the following situations would be the most appealing to a lender in the current financial climate: - someone working on a short-term contract at £220/day, who has worked right of the last 12 months with proof of an income of £35,000+ in the…
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Scared mortgage will be turned down - help!
Hi all, I'm not really sure what I'm looking for, I guess some reassurance if possible or advice for a worst case scenario! Basically, my fiance and I have found an amazing house and have had an offer of £136k accepted. We already had an AIP with Northern Rock for £136,500 and have now put in for a 90% mortgage with them…
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Am I a first time buyer?
Technically I'm not. I have owned 2 different properties in the past, always keeping up with mortgage payments and never having any problems. But I sold my flat a few years back to go and live abroad. Now I am back , with a deposit, and ready to buy a new place. However, when I fill in my details looking for a mortgage…
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Max Borrowings Calculators on Lenders Websites
What's your experience on the accuracy of max borrowing calculators on the lenders websites? I plugged my details into HSBC's calculator: Sole Borrower Age: 29 Earnings: £26,617 Debts: 0 Dependants: 0 Deposit: £28k It came up with max borrowings of £126k at 81% LTV. I want to have a 20% deposit to ensure that the banks…
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95% newbuy mortgage
Hi Guys, This is my first post so be gentle. Me and my wife have found a nice Redrow home we like. We want to take advantage of the 95% newbuy scheme. We currently have a home valued around £125,000 - £130,000 and have a outstanding balance on our mortgage of £111,000. This new home is priced at £180,000 Does this sound…
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comparing mortgages
My mortgage is in 3 parts: 72,000 @ 2.59% (tracks bank base rate + 2.09%) 50,000 @ 2.00% (tracks bank base rate + 1.50%) 47,000 @ 2.49% (tracks bank base rate + 1.99%) I believe I am on a pretty good deal and it is portable if I move. Are there any better rates on the market given that the mortgage is 60% LTV ?
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Equitable Charge needing a 2nd Charge Mortgages
Hi all, I wonder if anyone can help. I'm currently re-mortgaging and have an equitable charge on my property put on it by a solicitor for the estate of a deceased previous owner. The charge is purely hypothetical based on more property's being build on my land and it being sold seperately. Its something that won't be…
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AIP to full mortgage
Hi all, Long time lurker but new user. Just looking for a bit of advice/reassurance as I'm a born worrier. Got aip from Clydesdale 4 weeks ago and have had an offer accepted on a house for 20k less than aip. Full mortgage application sent off today (Clydesdale have already seen payslips, bank statements etc). I am now…
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Unexpected Payout from Woolwich-Advise Plz
Hi Folks, Im new to the forum, but regulary read through all the great advise provided else where on the site. Woolwich have taken a review of my Mums Mortgage and have sent her a cheque for a substaintial amount of money.:j Although she is very grateful, i just wanted a little bit of advise! On the letter Woolwich have…
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"Possibility" of Redundancy, and Mortgage App.
I'm an FTB who has been saving hard for 10+ years. Finally now I feel is the right time to buy my first place - I found a house that I really like and have made an offer. A possible slight hiccup to this going through is that my employer has made a general announcement that they are looking to reduce headcount and does…
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Screwed by santander
Hi, I was tied into my mortgage with Santander and wanted to move. I contacted them regarding porting my mortgage and borrowing a bit extra for the new house, everything was agreed in principle. When applying 2 weeks later I was told they had changed their lending criteria and that they would not lend to me, giving me no…
