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Mortgage Application - Credit Check Queries
Good Afternoon, This is my first time of posting and I am looking for advice so apologies if I sound naive. Basically me and my GF (both 24) are looking to apply for a mortgage in January 2013. We will have about a £50K deposit but I am really worried about the credit checks. Both our Experians scores come back to 999, and…
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How does Company car vs Car allowance affect mortgage lending
I've got to choose between a company car or a cash for car scheme. I'm also looking to move to a larger house in the near future. Taking a car allowance would mean spending £10k of deposit on a car but having a higher perceived income of around £4.5k per annum. Taking the company car would leave me with a larger deposit…
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Staff Mortgage - BIK on partial amount
Hi, We are thinking of switching our mortgage to a staff mortgage with the bank my wife works for. My question is about the benefit in kind tax implications. We would be looking to borrow ~£69k, but the staff rate is only available up to 4x her salary (which comes to £60k). This means we will be borrowing £60k at 0.5%…
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Mortgage Advice
Hi, Hope to get some advice from you experienced people here. I am a FTB. I had an offer accepted on a property 10 days ago after it being on the table for 5 weeks. Immediately, The next day I met my Mortgage Advisor and got a Decision in Principle from Nationwide. Yesterday my solicitors have received the Memorandum of…
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Why would mortgage balance increase?
Just checking my husbands credit file on the mortgage he has with his ex and over a year the balance has been as follows: £117,354 @ June 2011 £117,770 @ July 2012 So not only has it not reduced after a years worth of payments, but it has increased by £416. Why would this happen? Considering todays rates I wouldnt have…
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Help!
Ok im totally confused and way out of my depth and could do with some advice! Im trying to compose a letter for my OH to his solicitors which he jointly owns with his ex. There is a mortgage with NRAM and also a together loan. The mortgage is secured the loan is unsecured. I have a letter dated 03/07/12 stating that…
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Shared Ownership Mortgages for Bankrupts - URGENT HELP PLEASE!
Hi, After 6 years of living with Bankruptcy and cleaning up my files. Yesterday I checked all 3 credit reference agencies and my files are now CLEAR! I have had a current account since 2007 which has never gone into overdraft and have successfully got a Vanquis VISA credit card in June. Things are looking up. The next step…
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Standard Life to Barclays - Have they broken terms?
Hi, We've had our mortgage with SL for over 10 years. They are selling their mortgages to Barclays. We still have another fixed year before we can look at other rates...however, my husband believes they have broken their T&C's with this transfer. He asked them and they said they hadn't but he's not convinced. We could get…
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FTB mortgage whilst repaying (manageable) debt - take the plunge, or wait?
[info out of date]
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Phoenix (Sun Alliance) Endowment Maturity
Hi all, 24 years ago, I took out a £30,000 With profits policy with Sun Alliance, which was then taken over by Phoenix. It is due to mature next year. I am fully aware of the press regarding shortfalls and am expecting less than the £30,000, but I have been trying to find out an approximate figure that I may get. The…
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Renovation Mortgage - doable or fraud?!
Hi guys, Been reading these forums for a while now and picking up some invaluable bits of info, and was wondering what people thought of the following scenario with regard to a way forward, or suggestions as how to make it doable?? Married couple, been offered chance to own and convert an old barn on the family farm, turn…
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Remortgage Standard Life ==> Woolwich dilemma
Hi folks As some of you'll know barclays [Woolwich plc] took over Standard life and my mortgage now has moved onto Barclays/Woolwich. My circumstnaces aren't ideal but following the market crash, my fixed rate deal [interest only] expired with standard life and for ages they kept me on their extremely high standard…
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Turned down for mortagage
We have just been turned down for a mortgage with our existing mortgage company. The reason is a default on our credit file from Lloyds on our current account. We decided to move our current account to FD from Lloyds in January 2012. We moved all of our SO and DD succesfully and stopped using the Lloyds account at the end…
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Changing DD date?
Im with Northern Rock and want to change the DD date that the mortgage gets taken fromt he bank what is the quickest and best way to do this? thankyou
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Lump Sum into Mortgage - Best Way?
:)I hope someone who knows about these things can help as im not sure my mortgage lender adviser can tell me what is best for me and not what is best for Nationwide. We have £50k cash ( unfortunately because of critical illness pay out for my husband). We have 15 years left on our mortgage and balance of £85k on standard…
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Mortgage renewal - credit card debt or kitchen loan?
Our mortgage is due to be renewed in 18 months time. We've had a new kitchen put in which we're currently on an interest free period part of a repayment plan for 5 years. We could clear this loan though by putting it onto a credit card (lower interest than the loan when we start paying that) - but which is considered more…
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3 people on a mortgage
My wife and i were approved for a usda loan than come to fine out with my credit score and no savings they will not approved my credit score is right on the edge and my wife is only working full time now my mother-in-law was going to move in with us does it make sense to try and put her on the mortgage she makes probably…
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woolwich great escape mortgage
hi there does anyone else have this mortgage and know anything about the overpayments? I've been sending overpayments now and then, still under the 10% maximum limit. I haven't received any receipts of these but I know the balance is reducing via the automated telephone service. I also notice the monthly payment hasn't…
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Mortgage guidance ...
Hi, I'm looking for a little guidance. I'm a first time buyer. Over the next year, I'm looking to save for a deposit for a home. I'm looking to buy a run down place and renovate, then sell. If the property is valued at say £30,000... Can I get a mortgage for £40-50,000 to cover renovation costs? Do I only qualify for a…
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signatures needed to change from repayment to interest only?
can my ex change our mortgage from repayment to interest only without my knowledge or signature?