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Mortgage with a CCJ
I'm currently looking to buy a house for the first time. I've just checked my credit report and there's a CCJ registered against me that I accrued when I was with my ex-wife. That was my own wrong doing but she had also previously racked up some debt on store cards that I was not aware of. I've cleared all of those now. I…
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BTL Taxation
Ive been researching turning my home into a BTL, and buying a bigger place for my wife and I. Am I correct with the following, 1) I do not have to pay tax on the annual rental income if I tweak the mortgage repayments to equal the rental yield? 2) I only pay capital gains tax if the property sells for 10K more than I paid…
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Do i need to wait now? :(
Well. After a shock last week of being turned down for a FTB mortgage by a lender, and then finding out ive been shafted by T-Mobile with a "4 month late" that appeared on my credit report for less than a tenner (which im disputing as the original contract was set up for DD and was for £0 pm) The T-Mobile account has been…
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First Time Buyer - Credit History problems
Hi All, I'm a first time buyer looking to buy a house with my boyfriend at some point in the next year. We've started saving and have amassed a really good deposit already, and we've got a rough idea of how much we should be able to borrow given what we both earn. The only problem is my boyfriend's less-than-exemplary…
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Brokers' High APRs
Hi everyone, This is my first post here. Although, before I start, I wanted to send a massive THANKS to the MSE community for all the interesting topics posted here! I am looking into buying a flat and I have compared tons of mortgages online. Also, as per the MSE's mortgage guide suggests, I got in touch with two mortgage…
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End Nationwide Fixed-Rate early - is this normal?...
Hi, we have our fixed-rate mortgage with Nationwide & having worked out that we would be a lot better off ending the mortgage early & paying the ERP & fees for a re-mortgage, contacted Nationwide to tell them so. They were happy to end the mortgage but said we would be unable to re-mortgage with them & would have to go to…
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Just a quick request to ask if this seems OK
Hi all - This should be a nice quick easy one to answer. I am just asking to set my mind at rest. So far, I am going through the final stages of a BtL mortgage. All mortgage documents signed, and once the Mortgage company (The Mortgage Works) gets a final note from the solicitor, we're ready to roll. The solicitor has…
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Can a late utility payment affect my credit rating?
Hello, about 6 months ago I failed to pay an electricity bill with Scottish Power on time; I was abroad, on holiday, at the time. I eventually paid it about 3 weeks late. My question is; can this single action affect my ability to get a mortgage in the future? I have always paid SP a monthly fixed amount (£50 at the time…
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DILEMMA: best action to take?
Hello I currently live at home and plan to continue living there for the next 2-3 years at least With inheritance and savings I can potentially 'buy' my late Grandmothers property from my family with no need for a mortgage. The property in question has no current mortgage outstanding either The original plan had been to…
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MSE News: Interest-only mortgage market dries up as Coventry pulls plug
"The mutual announced this morning it will axe these deals from Monday, after RBS said the same this week ..." Read the full story: Interest-only mortgage market dries up as Coventry pulls plug
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Stick with Santander?
My fixed rate of 2.99% for 2 years is coming to an end in March. I have called Santander to enquire what the rate would be if I go for another fixed rate. They have quoted 2.89% for 2 more years, with no fee. slightly lower than previous rate. I think I should just go for this as it means I do not have to shop around,…
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Morgage advice.
A friend of mine has split up with his partner, his morgage and also a loan are in joint names. The problem is that the partner has left and cannot be located, will not answer phone call, text message or emails. He has been told by both Morgage company and loan company that he cannot take control of them until his partner…
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Poor Credit Rating
Hello My 3 year tracker is about to come to an end, however Santander have told me that due to my poor credit rating they only have one option for me and that's double my current rate i.e I will be paying twice as much. I know I had a black mark against my credit rating for missing 1 payment a while ago, but I soon caught…
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Mortgages for bad / fair credit history
Hi Every Body, My wife and I are looking to buy our first home. She has a perfect record with no late payments etc. The problem starts with me. I have had 3 late payments with Virgin Media. Where do you suggest we look for a mortage?
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Nationwide Application, Assessing Income?
OK, credit checked on first application, mortgage broker said there'd be no problems as she'd run everything by Nationwide and they'd given the DIP. Valuation came back as satisfactory, so we were hoping for just a straight formal offer. Today however we get a text saying Nationwide are assessing our income. What does this…
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First Time Buyer question about employee
Hope someone can answer this question as im quite worried atm, Ive applied for a first time buyer mortgage for a flat that ive had a offer of 63k accepted, im putting £10300 deposit down so its under the 85%, its been sent for referrel (man on phone said this was the case for 99% of new buyers so i shouldnt worry) my…
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repo help money
Hi everyone, I have put in an offer on a repossessed house for 73950. It was listed at 74950. Since the offer of acceptance I have had a survey and its brought up 5000+vat worth of work. I have asked the estate agents for a reduction of 5500. He said he doesn't think they will say yes to that amount. The thing is I have no…
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Renting out current home? Getting mortgage to buy again?
Currently looking to move: trying to sell, but our "sector" of the market is not moving much. If house doesn't shift in the spring, looking to investigate options.... We have mortgage on our current property (about 30/40% of the value). Rental income would cover mortgage payments (I appreciate that there is obviously no…
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UKAR (NRAM/B&B) to sell off unsecured loans?
I've just read this story which suggests that the owners of NRAM + B&B could be looking to offload £800m in unsecured loans to potential buyers. If so, this gets me thinking. My NRAM mortgage is paired with an unsecured element which contains a condition in the contract stating that if I un-hook the products (i.e I move…
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Offset Flexible Mortgage - 0.74% above Base
I'm coming to the end of my mortgage with a BS which I've had for some time. Reading through the paperwork I realised that I have a deal where the interest applied is 0.74% above the base rate which seems a good deal to me? Over the years I've over paid so the term has been reduced significantly. As I'm considering buying…
