-
Part exchange on a new build - any advice gratefully received?
Well after months of deliberation, my husband and I finally narrowed our house search down to 2 houses, both new builds last Sunday -22 July. We want to part exchange our property and are aware that they will give us a lower price than were we to sell it normally. The sales advisor told us that since we had only had 3…
-
What's the best mortgage option?
Long time lurker, 1st time poster! I'm just after a bit of advice on what my options are. I own a 3 bed house, 50/50 with my mum. Value is £250k, so my half is £125k. I took out a 17yr mortgage 6 years ago, and have paid off around 40k of it so far. We rent it out, and both want to sell soon. She owns her half out right.…
-
Helping my parents with financial advice
My parents are on a 5 year fixed rate (5.69%) into the 3rd year now with Natwest. They have noticed that HSBC are now offering a 5 year deal with 2.99% and they are looking to remortage with HSBC. Remortgaging with HSBC will slash their repayments by £330 a month. To move over to HSBC will cost them £5,000 in fees to…
-
I want to move now and sell up later
I've been wanting to move for ages as I suffer from depression/anxiety and feel my current environment is contributing to my illness, but find the hassle of the conventional moving process overwhelming. As a solution to my moving problem I'm thinking about buying a new place and moving in, getting settled, then selling the…
-
2nd Mortgage application advice
Good afternooon Ladies and Gents Basicaly im looking for some advice and reassurance here. The scenario is that Me (29) self employed 3 years SA302 and my partner (24) 5 years full time constant employment are looking to buy our first home. We have saved 5% of deposit and have been gifted 5% from money her dad has…
-
bank fees for lease extension
Hi, Does anyone know if we need to pay the mortgage lenders solicitors fees when extending a lease? I am extending my flat lease and i am having to pay the freeholders solicitors fees, plus my onw. Now the bank, is also saying I have to pay their solicitors fees to just look at the new lease! in addition to an…
-
Nightmare Situation
Hi, was wondering if anybody might be able to help, I am at the end of my tether and really can't see a way out of my predicament. I bought my property at the end of 2005 with a Northern Rock Mortgage and have since moved out and live with my partner and children in another property and have for the past 4 years been…
-
Paying off mortgage to gain bigger house
Hi Sorry if i sound thick here :P I have a property i brought for 113,000. Not really dented the mortgage yet after 6 years. I would in a good 10 years time like a bigger house on the estate that retail about 200,000 atm. Seeing as how me and hubby can only get a mortgage for £100k ish. Do i pay off my current mortgage.…
-
PhD student + permanent wage-earner = Mortgage?
Hi all, I am 25 and trying to get on the property ladder with my partner, also 25. We currently live in Ealing, London, and are paying £875/ month in rent. I have been on a temporary contract for £16,000 p/a for the last year, and he is on £21,000 in a permanent contract. I have just handed in my notice, as I will be…
-
Santander overpayments?
I'm looking to remortgage in a couple of months when my current fixed rate comes to an end. I'm looking at 5 yr fixed deals and the best ones that come up seem to be with HSBC and Santander at 3.99%. From the HSBC website I see I can overpay by 20% of the monthly repayment but I can't see anything for Santander... Can…
-
Mortgage and being young?
Hi All, Basicly im a little worried about getting a mortgage in the future im thinking about 5 years. at the moment i dont realy have a good credit rating i was very irisponsible when i was 17-18 and wracked up massive debt for my age was about 4k however finding out my girlfirend was pregnant i managed to knukle down and…
-
Formal Mortgage Offer - What checks do the lenders do once issued?
Hello Everyone We have been sent our formal mortgage offer after completing the full application and its valid for the next 6 months. What I am wondering is, do the lenders repeat checks or reference requests when forms are signed for exchanging of contracts? I ask because my company is restructuring, and although there…
-
Newbie/mortgage advice/business
Hi, Im hoping someone can help as we have used 2 mortgage advisors and they have somewhat knocked my confidence by telling us what we can't do but never telling what we can do. We have a mortgaged property with a small mortgage meaning we would have around £60,000 if we "sold" as a deposit for a new property, however my…
-
Ask ERIC/Cavendish equity release review?
Hello MSEers. My mother has recently retired and is looking to go for equity release with Ask ERIC (AE) formerly known as Cavendish, where AE would be named on the mortgage but not own the house outright. Just wondering if anyone has used this company before and have any reviews of them? I just want to make sure that they…
-
The ex & our mortgage - help needed for complex situation
This is quite a unique situation (in my head anyway, am sure it probably isn't) I have a mortgage with an ex, we have been split up for 3 years now, the mortgage has been in existence for 7. In the last 3 years, I have cleared arrears and maintained the payments myself. The ex that I have no contact with got a message to…
-
First Direct To Cut Interest Rate on All Mortgages
We are currently in the application process with these. We have secured their 4.79% 2 yr Fixed! Once the appplication is completed and we are offered the mortgage can we request these new rates? First Direct cuts rates on all standard and fee-free mortgages Friday, 27 July 2012 3:45 PM First Direct have announced that they…
-
Do I pay tax on endowment proceeds?
I have an endowment from 1987 maturing next month. All payments made 25 years x 12 months x £39.40 = £11,820.00 Final statement says I'll get £23,052.69 (£11,008 assured, £7,299.81 bonueses, £4,744.88 final bonus) I'm a 40% tax payer (this year, not throughout). Will I have to pay tax? If I do, is there any way to mitigate…
-
Mortgage approved for less than needed
I have been looking for a house and after getting an approval in principle from Woolwich for enough to purchase the house, I put in the offer which was accepted. However, when my mortgage application went to the underwriters, they offered 40k less than needed. I have a 40% deposit and my credit history is good apart from…
-
First time buyer, BTL
Hope you can help. I have capital available which I want to invest in property whilst helping a family member. I wish to buy a house for myself, and a house for a family member to rent off me. Each mortgage will be on a 60% LTV. I know there are BTL mortgages available for FTB, from Northern Rock and Woolwich, amongst…
-
HSBC sets date for conveyancing panel
All firms that are members of the Law Society’s Conveyancing Quality Scheme (CQS) will be put on HSBC’s conveyancing panel from 29 August, the Society and lender announced today. http://www.lawgazette.co.uk/news/hsbc-sets-date-conveyancing-panel
