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Lending Criteria
I am starting to understand that getting a mortgage at high LTV seems to be subject the lenders lending criteria. This seems to be vastly different. I have seen in another part of the forum, that it says which lenders use and report to which credit agencies. I also looked the The_Lorax thread who kindly posted a list of…
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MSE News: Fall in home purchase loans
"Loans for home purchases slumped by 8% last month as lenders clamped down on mortgages for those with small deposits ..." Read the full story: Fall in home purchase loans
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Remortgage silence from solicitors
I'm in the process of remortgaging with completion set for the 1 October. Received the mortgage offer back in the beginning of August and responded to all queries from the solicitors promptly. They then sent me a provisional redemption statement which included an ERC for my current mortgage, but stated they would send me…
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First time buyer - questions
Hi all. Ive been lurking for awhile but now i'm wondering if some of you could help with a few questions... We are hoping to buy a house in the SE. Joint application my wife and I. I earn £54k. My wife £29k Price ~ £300k. Deposit about £60k (LTV 80%). Ive found that HSBC offer the best rates. (3.29% tracker and ability to…
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Maximum I can borrow and spend?
Hi all, First let me apologise if this has already been asked before. However, I have searched the forum briefly, but have soon realised I may be searching for years to come, given the vast amount of threads made. Me and my brother are currently saving to buy a house, over the next year we will have between £8k-£10k, which…
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Which Banks/Building society would be best for me? Default on its last legs...
Hi all, So as the title may suggest Im looking for a little insight as Im keen to buy a place pretty sharpish and think I've found one that I like. My question is simple, I have a default for £169 which is 5.5 years old (due to be removed march 2013), otherwise my credit history in recent years is fine. I currently pay…
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Mortgages and Credit Ratings
Deleted my post
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Advice re new mortgage
My wife and I purchased our current home back in 2004 and have spent a lot of money refurbishing it and have been very happy but in the last 2 years we had a family with young children move in next door and they are a nightmare so we have decided to move and has luck has it some friends of the said neighbors have made and…
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Fixed Term Mortgage Due to end in August 2012 - What next?
I am after a bit of advice about my options following the end of my fixed term mortgage. I have detailed in bullets the main points below: My wife bought our house in August 2008. The cost of the property was £118,000. We took out a 95% mortgage Mortgage value: £112,100 Mortgage Period: 25 years 5 year fixed term Lender:…
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First Time Buyers - Mortgage Questions
Hi everyone! Me and my partner recently took a trip to the estate agents to get registered to start looking into purchasing a house. We are not looking to purchase one 'ASAP', we just want to take a bit of time like a few months (i know agents hate that) but we do not want to rush into any old home on the market. Anyway,…
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Joint mortgage on a 2nd home (holiday home)
Hi I'm new to posting so bear with me! Just looking for some advice/tips on obtaining a joint mortgage on a holiday home in Carmarthenshire (for sole use, attracts council tax and is a concrete building with a foundation). My partner and I have a single mortgage each on two separate properties. Our first option was to…
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basic questions - santander mortgage
go, a few basic question - our mortgage is coming to an end in Nov, currently on 4.99% with santander (5 year fixed) I believe the sir in a bit less now Do u have to contact the bank for new deals when the deal comes to an end or do they just switch u to their SVR also are we likely to improve with santander - they don't…
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WOOLWICH (Barclays) mortgage on two residential properties
Hi All, I just wondered if anyone on here has any experience with the Woolwich? We put our application in yesterday after receiving AIP on Tuesday, service level seems to be longer than most- not sure how long it's going to be before receiving some sort of response. Received a text this morning to say they had our…
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remortgaging with new job
Been studying lending criteria today at yorkshire building , halifax and woolwhich got a chance of a new job in october and was going to move mortgages and lenders later this year in november i notice that YBS want 1 of last 2 pay slips and 2 from last 5 , will that matter if i change jobs? if thers say a months gap cant…
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Overpaying on mortgage
Hiya I have read a few posts where people overpay on their mortgage. Do most people do this? We havent been able to do this (have had mortgage for just over 4 years) due to budget, maternity etc and may not be able to for a little while yet (and may only be a bit when we do as we dont earn huge amounts and want to be able…
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Broker Fees
Can anyone tell me how much of a fee a broker gets when they take out a BM Solutions buy to let mortgage? I've been told by someone who was a broker up untill about ten years ago, that the fee BM would pay was a couple of percent. If thats true, i would lke to know so i can negoitate with the the broke and bring down the…
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Do I need a mortgage protection life policy?
I have a life insurance policy from my employer that pays 5 x my income (more than enough to cover the mortgage). Do I need this extra policy that my broker is trying to make me sign up for?
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Nationwide v Post Office
I am making a mortgage application tomorrow and am still uncertain whether to go with Nationwide or the Post Office. Nationwide does have the cheaper rate, however, I am very alarmed about stories of people still waiting for an offer from July. Circumstances - lone mortgage - 80%LTV (looking to borrow 3 x income) -…
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Halifax Mortgage
Hiya In April 2008 we took out a fixed rate (5.79%) mortgage with halifax for 5 years which ends next year. Property was valued at 110k, we took out mortgage for approx 79k over 25 years (this year I have just gone 29 and hubby 27). We have had payment holiday so have a litte on svr and out payments were approx £497 and…
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Shared Equity Help Please
Hi I am after some advice- my husband and I purchased our house 3 years ago using the Moat shared ownership scheme with them owning 34% of the property. We now want to buy that 34% so they had someone value the house (for which we had to pay £180) but they have valued 30k over what an estate agent, mortgage lender and my…
