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Renting Current House & Buying New One
I wonder if anyone could give any advice as to whether this is 'do-able'. Basically I want to rent out my current house and buy a larger house to live in. My current mortgage provider are fine with us converting to a buy to let and I have done the figures and works well. My only problem is working out which lender to use?!…
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Endowment shortfall - extending mortgage term
Hi. I have a mortgage which is due to end in 9 months time. The mortgage is part re-payment & part endowment. At the end of the term, there will be a shortfall of around £30,000. I contacted the lender to discuss possible solutions & was told that I would be able to re-mortgage the shortfall. My motrgage is a tracker & I…
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Cash in endowments now?
I have 2 parts to my mortgage, both are covered by Endowments that are not going to reach the amount needed. My mortgage isn't high (about a 5th of what the property is worth). My question is should I cash in both the endowment policies now, pay off as much of both mortgages as possible (this will be about half the amount…
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Keeping existing property and buying a new home
Hi everyone I've just signed up to this forum, I have some questions regarding buying a second home and renting out my existing property as a future investment. Hopefully someone reading this has gone through the same issue and can provide some help :) Here is my situation: I own a 1 bed flat that I brought 7 years ago…
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Housing benefit and mortgage
I have just been made redundant and am going through the nightmare of benefits. This will be short term as I am getting married soon and the plan was always to rent my house out. Once this has been achieved it wont be so vital for me to jump into another job. The OH has no mortgage on his property and mine isnt massive.…
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Mortgage with bad credit rating
Anyone know if there will be a mortgage deal next year for ex bankrupt (discharged January 2012) who is self employed, and wife with bad credit rating? If we sell current house and buy smaller one -could put down £200k, but would need mortgage for approx £100k. Any chance or none at all?:(
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Top-up mortgage to move
Hello I am looking for a little advice regarding moving home. We bought our house in 2007 for 145k, we could probably get 125k for it now and we have approx 125k outstanding on the Nationwide mortgage. We are currently on the BMR which is a great rate. There is a property we are interested in buying which we could probably…
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Should I look elsewhere...
I have an agreement in principle (from Norwich and Peterborough), but the maximum they can lend is exactly what we would need to borrow on a property we like. The reason why I went to them is that the rate is quite attractive (base rate + 2.89% 3 year tracker for 85% LTV - even if it goes up by 1% in that time which I…
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ditch my fix help
hi any advice please The ditch my fix calculator says i need a rate of 4.89. i have a 10 yr fixed mortgage at 6.1% that ends 5yrs 9 months aug 18 with an erc of £5091 reverts to standard . i can change mortgage to 4.49% fixed till feb 17 then standard with no other fees over 24 yrs still owing 95000 with the new fix only…
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Agency contract
I have had mortgages agreed in principal in 2010 and 2011 (but each time the flat fell through :-( ). After a year off from flat-hunting, I have now started again, but the banks are now telling me I can't get a mortgage, as my current job is paid through an agency. They say I would need to show evidence of having a…
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Natwest new mortgage application help
Hiya I received the following message from natwest re our mortgage application, I am a bit confused re the 1st applicant part: Your mortgage has been agreed subject to:1st Applicant: A Homebuyers Report which we will arrange with our panel. I rang natwest and they said the '1st applicant part' is simply addressing the text…
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Virgin Money Mortgage - query
Has anyone applied or got experience of Virgin Money? Applied over the phone late Thursday afternoon, was told it was referred to the underwriters and they would call me possibly Friday but most likely today. I can see from my experian that they have run a search. I have a 982 score with experian and 472 with equifax. LTV…
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Leasehold mortgage question
It is stated on our terms of lease to not use the house for business but if i decide to start my business from home what would happen if anyone were to find out? Thanks
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Buy to Let Morage Salary Requirement
Hi All I understand that for a normal morgage, you can borrow 3 or 4 times your annual salary. Does anyone know if this is the same for a buy to let or is it different? Michael
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Mortgage Problems w/ failed relationship
Just wondering as me and my partner have recently split up, leaving us with a mortgage, however at the moment I find myself financially dependant upon her, as she now lives with her parents, but I have nowhere else to go, and she is happy for me to stay in the flat for now. My worry is that I need to sort something out, as…
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santander mortgage question, paying xtra
Hi I have a mortgage wth santander , currently 4.76% for £170,000 @ £670 amonth interest only . The house is worth in the region of £180,000 - £185,000 . Can I pay say £100 extra each month of the mortgage or do I have to save it up and then pay it of the capital in one lump sum each year . To transfer it to repayment is…
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Transfer of Equity - After very amicable divorce
Hi, We had our DecreeAbsolute more than two years ago. Everything was amicable then and still is. I provided her with a mutually acceptable financial-settlement with verbal agreement that she will forego all her rights on our marital home - which was jointly mortgage then and it still is. I have been paying the mortgage…
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Britannia Mortgages
Recently been refused a mortgage due to incorrect default still on my equifax report, succesfully removed from experian. In the process of getting it removed from equifax. However, seen on another thread that Britannia only use experian? Yet their terms state that they dont accept any applicants who have been refused a…
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Shared Mortgage + Own Mortgage, is it possible?
Just a quick question, An opportunity to buy a family home has come up, with 2/3 family members and we are considering getting a joint mortgage. Council discount should allow us to pay it off relatively quick. My partner has raised the issue regarding how much it would effect us (partner and I) getting a mortgage of our…
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Do mortgage advisors do credit checks on you?
I am wondering how MAs would know how good your credit it before deciding who to apply to for you. Do they do experian checks?
