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No experience, need help please!!
I am 50. I am married but financially dependent from my husband. I have a mortgage of £93000. The house price is £200,000. At the moment I pay interest only 5.75 %( £446.25 per month) the lender is CO-OP. Recently I moved out to live with my husband and rent out the house for £800/ month. I do not have a job. 1. If I…
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Just over 60% LTV dilemma....
Hi Really stuck as to what to do here. First house on my own and not mortgage savvy. Was quoted 3.29% to remortgage if LTV was 60%, however after drive by and standard valuation my LTV is just over 60% so the rate they will now give me is 3.80% now, 75% LTV. My current provider will offer me 3.79% but there will be fees…
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Subletting 1 room question
hi i am about to buy a 2 bed flat, i will live in 1 room. When i spoke to HSBC they said i wouldn't be able to let out 1 room with any of their mortgages (something about loger has to be under 40% of house) Is that right? i can afford the whole flat living on my own thats not an issue, altho a bit of a stretch Are there…
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What is best current income multiple you can achieve
if you have: (a) an excellent credit score (b) at least a 20% deposit (depending on price of house, could be more). (c) no other debts is 5x salary completely out of the question these days? Be interested to hear from any IFA's/ Mortgage advisors. Cheers.
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How volatile are SVR's really (Nationwide) ?
Hi, we've applied for our first mortgage, which is 95% LTV. The initial 3 year fix bears 5.49% APR, with SVR dropping to 3.99%, at the current SVR values of course. It's with Nationwide. The initial rate is not the best on the market so we're hoping to recoup some of the costs by staying on the SVR for (at least) couple of…
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Newbuild property value loss - effects?
Me and my wife have applied for a 95% LTV mortgage on a Newbuy property in central London. We are aware of the initial loss of value in such property, but would like to know how will that affect us exactly. We do not fully understand such effects. So, we put 5% deposit down on a £250K flat and acquire a 95% LTV mortgage…
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do i have any alternative but rent
We had a company which had two sites that we put into voluntary liquidation last year, closed one site as it was losing alot of money and phoenixed the other which was doing fine thus saving half the staffs jobs. We have now been running the new (old) ltd company for a year. We are selling our house to move nearer the…
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Mortgage retention confusion
Hi, I'm currently in the process of buying my first house. We have offered the asking price £169950 which was accepted. We got a full structural survey and valuation. The valuation from HSBC has valued the house in its present state at £170000. However they have put a retention on the mortgage for £5000 pounds, saying it…
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First time buyer question
Hello I have found a house that's within my budget... But it's been converted into 2 flats. My aim would be to convert it into a house again, back to its original state. Will I have any issue getting a mortgage On this property knowing that I don't want 2 flats? There are no tennants in the property either Many thanks in…
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First mortgage but not first house
So, I'm 30 and I've never had a mortgage, but I do own a house (via an inheritance). I don't live in this house, I rent it out and in turn live in rented accommodation. I've now seen somewhere I'd like buy, but I'm confused over my options. I'll try to set out what I'm considering below: The house I want is £190k, but I…
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Mortgage deposit question
Forgive me if this is a silly question :o , but something occurred to me this afternoon: My partner and I are looking for our first house. Say we've found a property we want to offer on, and have more than enough money to put down a 10% deposit, but not quite enough for 15%, would a lender allow us an LTV of, for example,…
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First Direct offset vs 5 year fix
Hi all, Wonder if anyone can help me out. We have a FD offset mortgage which is ending its traker rate of 2.99%. It will be going up to 3.69%, I am trying to work out to stay with this or move to 5 year fixed rate at 3.39%. The numbers are: FD offset mortgage over 12 years £107.000 owing, £40000 in savings, rate 3.69%…
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Ex Forces now Security at Sea Would love a Mortgage
Hello, We are having a nightmare trying to secure a mortgage. Husband left the army and is now working at sea doing ship security. This is a good earner and we have a good deposit, but because he is classed as self employed and is away or more than 185 days in the year we are chasing our tails with mortgage companies. I…
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House Repossession
A bit of advise for a friend is needed. He was unable to keep up with payments with his mortgage. He gathered a bit of money and paid a chunk of this mortgage. Bank offered 6 months to sort things out and pay a nominal fee monthly. All payments have been made on time but now the bank wrote back given him 14 days to pay the…
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Bank of Ireland raising their SVR... problems repaying.. options?
Hello all. I'm with Bank of Ireland.. They have decided to hike their SVR significantly in June 2012 and September 2012 regardless of BOE rate. I'm now facing our mortgage payments increasing by around 40%, which is going to be very difficult to stay on top of. When I spoke to them they confirmed they were actively trying…
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Home Rights and Mortgage question
I've searched this and other sites in an attempt to find some sort of answer to my question but failed. Background: A friend of mine (T) has been granted Matrimonial Home Rights whilst the divorce proceedings were taking place. Although married for several years, T was never named on the deeds of the house even though the…
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overpay santander mortgage
hi guys I really want to overpay my mortgage and have wanted to a bit for the last few years. We managed to overpay a bit a couple of years ago but things have been tight recently. Anyway it looks like we might be in a situation soon where we could overpay a small amount each month and I would ideally like to be able to do…
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Threatened Repossession
Hi looking for some advice - my wife and i took out a 2nd charge on our home to start a business, unfortunately the business folded after four years. We are both now working - which took a while to get organised, we continued to repay the 2nd charge until January this year. When I had to officially close the business at…
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True Potential FM System - any guidance IFAS ?
Hi all Unusually for me I'm starting a thread, and wondered if you guys can help. This system, although fairly new in itself I believe, I know little about it - and I wondered if any of the IFAs could explain the True Potential FM system. I've goodled and youtubed it, and broadly know its a wealth management system, which…
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Nationwide mortgage advice needed
We are in the process of selling our 50% share of a shared ownership property to move into a full 100% owned property. We have a 1st time buyer who we have accepted an offer from for our property and have found a property for ourselves and thankfully also had an offer accepted. We wish to take our current Nationwide…
