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Raising equity
Asking a question for a friend, he has 2 houses both paid for he lives in one and has a sitting tenant in the other paying token rent (can't get them out or raise the rent). He is looking to finance a new build on a plot of land he has and plans to move in when it is done and rent out. The house he is currently living in,…
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Aviva endowment for mortgage
Aviva now own my endowment after about 6 takeovers. Took out initially 1987, 25 year term to pay mortgage plus bonus. Had the mandatory shortfall letters asking for more cash but have continued to pay initial sum...have sold house and no need of cash for that. Called Aviva as maturity date is this month...told that it is…
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Joint Owner, Single Mortgage, what will happen after death
This question must have been asked before. So please point me to the right thread if a detailed answer was available. My wife and I are joint tenants on the title deed of our property. But I am the only one on the mortgage. If I die, is it true that my wife will have to sell if she cannot afford a mortgage on her own, but…
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Further advance Vs Equity release
If you have finished the fixed period of your mortgage and want to release some equity are you effectively signing up to a new mortgage by releasing some cash?. Is this called a 'further advance 'or equity release' Has anyone had any experiences doing this?
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Re-mortgage with change of title
Hi all! :) I'm wondering if anyone has any words of wisdom for me? My partner and I have been living together for around 6 years now, since I moved in with him. We've been thinking it's way over time we sorted out our wills and finances to make sure we each continue to have a home etc if the other one dies. We saw a…
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Back to back sale (seller has owned less than 6 months)
Hi, Bit of a long shot but does anyone know whether West Brom BS have a policy on agreeing a mortgage when the house you are buying has been owned for less than 6 months by the current owner. As I understand it some lenders won't lend in this type of scenario due to money laundering regulations. If they simply say they…
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HSBC Consent to let Vs Let to buy mortgage
Does anyone have experience of gaining a consent to let from HSBC in terms of it being beyond extended beyond the intial 12 month period? Also what is the difference between gaining a consent to let and getting a buy to let mortgage? Thanks
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Old charge on title
Hello, I am hoping you can help. My mother owns a property, this was bought from her mother in 2001, rented out after her death in 2002 and the mortgage on it paid off in Feb 2004. This property has remained mortgage free for 8 years 9 months (so over the 6 year period for data retention). However we have now come to…
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should i pay off more of my mortgage using my ISA??
ill try and simplify as easy as i can. iv got an 85k mortgage. paying £555 a month fixed for the next 7 years (at roughly 5.14% if i remember correctly) iv got 10k in savings which is my contingency if anything goes very wrong!! I do not and will not touch that! But iv got 25k in my ISA earning me nothing! Question is iv…
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Mortgage in principle question
We're looking to get a mortgage in principle of a maximum of £200,000 with a £30,000 deposit (so 15% deposit). If we then find a house for, say, £180,000, would a lender let us put down less deposit (£28,000 for instance) when it came to the proper mortgage application, as long as its still the same percentage deposit, or…
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Suggestion Regarding Abbey Mortagage
Hi, To give brief background. Me & my wife both are on tier 1 visa with around 3 years left. I don't have any defaults etc and my credit score is 915 and my wife 910. We started looking at purchasing home with 10% deposit and shortlisted one. Before putting an offer we got AIP from halifax for 250K with 10% deposit via a…
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Standard Mortgage Deed advice please
Hello, Due to my financial situation (fixed term contract) and health (diagnosed with breast cancer), no mortgage company will touch be with a barge pole. We are in the process of buying a house and my husband has had a mortgage offer accepted. As I've asked for my name to appear on the deed I've had a Standard Mortgage…
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Friends Life letter - too little Terminal Bonus paid at Termination?
Hello everyone Yesterday I got home to find a letter from Friends Life to say that they're now the company responsible for Friends Provident and some of AXA's policies. They say they miscalculated the Terminal Bonus - assume thus is legitimate and not a scam, but couldn't find any references on the forum. 'Friends' and…
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Still looking for a house!
Wondering if anyone is in the same situation. I've been house hunting for a year now. I am just within my price range, so i don't have a huge amount of choice but there are some houses out there within my requirements - i just don't like any of them. Is a year too long to be looking? I'm desperate to move, hate my current…
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Will we be able to get a mortgage
Hi All Just after a bit of advice on our chances of getting a mortgage to move home. Currently we are on an interest only mortgage ( 100k ) value of current house circa 110/115K we have savings of 12k will be increasing by 500-800 per month OH is employed earns 28500 from her main job, and has a 2nd job ( for 2 years with…
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Not perfect credit
Evening all, I appreciate this question is asked a lot, but after trawling these forums I can't quite work out what the answer is. My question is, will I get a mortgage without a perfect credit score? I have checked my credit score with experian which says good. I have a default from feb 2007 and 3 missed payments from…
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Consent to let ... Barclays/Woolwich Offset with Reserve
Hi All, Does anyone have any experience of receiving consent to let their home when they have an Openplan Flexible Barclays Woolwich Mortgage with a reserve they have made use of? Many thanks LP :beer:
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Mortgage advice please
Need to sort out some ongoing commitments now am in better employment. Early 08 took unsecured loan £20k for house improvments but was made redundant mid 08. Statuary redundancy only so after 2 visits to sign on JSA -( 2 was 1 too many) - took work as temp IT contractor till Feb 12 when was taken on with solid company £35k…
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What are our chances
I'll try and be brief..... We have managed to save just over £30,000 and are looking to put down a £25,000 deposit on a £100,000 house. My other half has a perfect credit history, I am now debt free, never made a late payment but did have a lot of debt (about £16000) over various cards and a loan. My experian report runs…
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Interest goes up and down on Fixed Rate...help?
Hi there, I was wondering if anybody could help me. Our mortgage has a ten year fixed rate (we are in year 3 of 10.) Our monthly mortgage payment is £988. Interest rate 5.34. The question is....why does our monthly interest rate vary? It doesn't always go down...sometimes it goes up. October's interest was £710...Novembers…