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Mortgages: Residential v commercial
I am wanting to buy a house and convert it into a cafe. Can I get a normal mortgage for this or does it have to be a commercial one? I am currently employed full time and on my current salary I would be able to borrow the amount I require to buy the house but as soon as I discuss wanting to eventually run a cafe in this…
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First time buyers
Hi Me and my partner have saved up enough for a 10% deposit and we have just had an offer on a house accepted. Our mortgage advisor has recommended nationwide as the overall cost for comparison is 4.5% has anyone seen a better rate than this? We require a 90% Loan as we have a 10% deposit
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Buy to Let Dilemma !!!
Hi, I need some advice relating to a Buy to Let situation. My wife and I, manage a portfolio of 7 buy to let properties worth a total of approx a £million. They are all mortgaged in joint names, all in positive equity, all showing a decent profit on a monthly basis and most of them have very happy long term tenants. We…
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Anyone got/had a mortgage with Accord (Yorkshire Building Society)
Hi All Ive had an agreement in principle from the above and have recently forwarded all my identification and proof of income documents to them for approval. Has anyone got any experience of these guys? If so how quick were they to process things etc? Thanks
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Bankrupt and wantong buy a home
Hi, I have not visited MSE for a few years. Since my last posts I have been in full time employment for over two years working as an Accounts Clerk. In this short space of time I have been promoted and gained multiple payrises. I have getting engaged and live with my partner in a one bedroom flat rented from the local…
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5% deposit paid
Hello all, I am aware that generally the 'deposit paid' schemes are an attempt to over-inflate the house price then offer a discount to try and 'fool' the mortgage lender into a higher LTV. Having discussed it with my mortgage lender they have confirmed that we will need to come up with a 10% deposit on the adjusted value…
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Direct Line Mortgage payment date moved?
Hi My mortgage is with Direct Line but has been managed by RBS Credit Management for a while as we fell behind. We sorted this out eventually and RBS said that after 6 consecutive dd payments the account would go back to "normal status" and be returned to Direct Line to be managed as normal. Our payments usually go out on…
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Transfer of Equity issues. Help needed...
Hi, Background: My girlfriend owns a flat with her ex-boyfriendbut he moved out 4 years ago and has made no contributions to the mortgagepayments. My girlfriend had to change the mortgage (with Cheltenham &Gloucester) to interest only at the time as that was all she could afford onher own. Her ex is currently unemployed…
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Should I Fix Rate now??
Hi Everyone First time poster so please be gentle! I am 2 years into my mortgage and its now time to fix the rate again for follow the base rate. Mortgage company have offered me a 3 year fixed rate at a monthly payment I can afford, if I go with the variable rate its making things very tight and if the rate goes up I'm in…
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Remortgage/ DMP/ defaults
Hi. Oct 2008 owed 28k, 5 creditors, went to CCCS (wonderful help/ such relief to have shared burden), now owe under 6k, 2 creditors Pay £1033 mortgage (fixed rate coming to an end), pay £260 to CCCS. I have 7 years left on repayment mortgage, 75k, over 60% equity. Have defaults & poor credit score, but have proved that I…
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Guarentor Mortgages FTB
Hi, I am looking to hopefully apply for a mortgage within the next few months. However it will be a single application and the amount i can therefore borrow will be limited. Having researched mortgage repayment rates and average monthly bills i am confident that i can afford the cost of a house comfortably. I have also got…
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Self Employed mortgages
Hi Just need a bit of information on a backup plane. Circumstances: Self Employed 1 Year's accounts (Chartered Accountant firm) [18 months covered] Criteria Is there a lender who provides mortgage on company's profit instead of salary and dividends with the above circumstances? If so: - What would be the profit multiple? -…
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Transfer of equity - indemnity policy?
In the middle of tranfer of equity with a solicitor , part of the legal paperwork is to deal with land registry and to perform searches. My solicitor called me up the other day and said the searches will cost 200pounds more on top of the 360pounds I payed him already. He said alternatively you can pay 106 for an indemnity…
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Can we still get 25 yrs mortgage?
Hi guys, I am looking at a cost of moving house etc etc... At the very beginnings right now. I am not even sure it is possible to move currently, as we have good income but no cash. 2 quick questions: 1/ can you put the stamp duty tax on top of your mortgage? Or do you have to pay it in actual cash? Is there a way to get…
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Delayed mortgage payments
With one of my old mortgage companies, I know that as long as I paid something off from my mortgage payment one month, as long as I paid the full monthly mortgage amount the following month, I was not in arrears (and not reported to the credit agency) as I was never a full month in arrears - does anyone know if that is the…
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Laing Easyform
Evening Forum I am currently looking for my first home to buy. I have a mortgage approval in place, however after I paid for a Home Buyers Survey, the result came back as it being Laing Easyform, and the Surveyor would not complete the valuation and my mortgage lender will not lend on this type of property. Does anyone…
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cash in endowment or wait?
I have an endowment type mortgage. The endowment has 2.5 years to run - is there any advantage to allowing it to run its term rather than cashing it in now. (The proceeds are not needed to pay off the mortgage which will be redeemed on the sale of the house.)
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Accepted mortgage in principle then declined mortgage with the Halifax
Hi everyone very new to this so excuse me if I bore the hell out of you I have recently been declined a mortgage with Halifax after having a mortgage in principle done with them in 02/12 that was accepted. I was in the process of buying my first home (new build) with my partner, things were great and looking good when we…
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Help! - Policy valuation disappears in puff of smoke as a backdated lapsed policy
I am attempting to sort out an issue that my father has with The Royal London Mutual Insurance Society Limited. A long winded story; please bear with me: In 1987 he made the mistake of letting salesmen through his door, who persuaded him to invest for his future. At the same time he asked them if they were able to provide…
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Joint mortgage question
Hi, I am a joint mortgage holder and on the deeds of my mothers home, the mortgage is very small around 20% LTV. If I want to get a mortgage of my own for a house I want to buy, will this joint mortgage stop me and count me a second homeowner? Many thanks for any helpmin advance!
