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Co-op about to launch new 5 year fixed @2.79% (£999 fees) - other banks to follow?
We finally made the decision to re-mortgage with the co-op (5 year fixed, 3.49% , £0 fees) after a number of weeks thinking and checking alternatives and phoned a short while ago. Right at the start I was asked what out LTV is (around 25-30%) and was told a new product is being launched on Friday which is 2.79% and £999…
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Power of a Broker?
Hello - here in desperation! We're currently trying to re-mortgage to move house. We were told by our current company (C&G) that we could port the existing mortgage and borrow the additional £15,000 needed - so we accepted an offer on ours and then rang C&G... My Husband is self employed and 50 next year - both things they…
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Shared Ownership mortgage options
Hi all, In my previous posts I have made reference to the fact that I am currently look to purchase a shared ownership property. The property value is £135,000 and our share would be 35%, so £47,250. We have access to £5k minimum and can probably up this to around £8-£9k if required. Initially I made the application solely…
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Mortgage extension questions - Running 2 mortgages on the same property
Hi, I currently have a mortgage running on my property where the discounted rate finishes in Jan 2013. I called up looking for a mortgage extension (the COOP) to build an extension. They said this was possible and essentially it would be another "mortgage" which I could pick from their current offerings - that would be for…
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Can you get a mortgage on a property owned by someone else?
I plan to buy a house for cash with my father. For capital gains tax reasons, I want to put it in his name. Would it then be possible for me to get a mortgage on it, despite the property being in my father's name?
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Mortgage company asking me to prove deposit
Hi All, Never used this thread so hope I am posting in right place etc but here goes. I am gifting my Mum £13k to buy a house on Buy-to-Let. Can I stipulate here that I will own no controlling interest in this house and that the money is non interest bearing etc. The mortgage company asked her to prove deposit which is…
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Applying for residential mortgage with existing buy to let's
Does anyone know what the standard requirement is when applying for a residential mortgage but have 2 existing buy to let's. These buy to let's will remain but will the mortgage company want to see how much rent I get. Will the rent need to be more than the mortgage (it is) but by how much? Any advice would be helpful.…
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Re-mortgage after a death
Hello, I'm new to these forums but could do with a second opinion on some advice we have received. My father in-law passed away recently, him and his wife had a joint interest only mortgage for about 50% of the value of there property, the mortgage was always paid and maintained (along with all other finances) by him but…
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Help with mortgage
I have recently applied for a 2 year fixed mortgage with first direct and was declined . I then went on to experian to check my credit score which was fair , I have never missed any payments or been in arrears although I have applied for 4 items on credit in the last 5 months . Does this really have a negative effect on my…
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Transferring my current mortgage to a new property
Help, I need some advice but have never done this. I have a property worth 180K with a 109K mortgage on, can I transfer the mortgage to a new property worth 130K and pay down the extra 21K myself. I know I have to check if a portable one. If I am able to do this will I keel to the 180K I sell the house for. Sounds crazy…
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Want to release Equity to Buy Larger Property
Greetings Forumites Excuse me if any of these questions seem daft. :D I have a property valued at 100k with a mortgage outstanding is approx 25k (monthly payment £250). Without selling it is there a way to take out some of the equity as deposit for a second home. If I get a BTL mortgage (6%) I could get a rental of just…
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Chances Of Getting A Mortgage?
Could anyone give me an idea of whether or not it's likely I could get the following mortgage: I would like to buy a flat for around £240,000 I have a deposit of £80,000, so would need to borrow £160,000 I work freelance. My last three years profits have been: £25,000, £20,000, £17,800. My partner currently earns a very…
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A bit complicated, advice urgently needed
Right, I will try to explain. We have a property which is our main residence and we have a first direct offset on it. We saw and put an offer in on another property today (all a bit sudden!) and it has been accepted. We are wondering if we can swap our morgages e.g. make the new property our main residence and use the…
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4 year old satisfied default want 85% mortgage HELP PLEASE!!!
Hi all, posting this again for more advise on where to apply for a mortgage. please any advise would be appreciated. I'm applying for a mortgage Friday with Halifax, I have a 15% deposit and earn £50k per year. I am a first time buyer and the loan is for £134k. Background history is around 8 years ago I broke my leg badly…
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First time buyer-Can you add extra on mortgage loan for refurb?
Hello, I am going to ring nationwide tomorrow to ask but thought someone here may know the answer. We are currently looking for our first property and we have an offer in principle of £175,000, with our deposit of £10,000. Potentially they can offer a ridiculous amount of £272,000 but we don't have a deposit for that. If…
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Semi commercial mortgage, or not, or what? HELP!!!
Hi all, I'm looking to buy a house, at auction, Monday! (26th Nov). Photo below should give you a good idea of its situation. h t t p://farm9.staticflickr.com/8347/8202686347_6f1be755e4.j p g It's your standard Swansea stone built terraced house which ideally for me, comes with its own sizeable warehouse! The trouble I'm…
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mortgage for residential property
Hi All, I am currently base in london and have purchase 40% of a flat in leeds. i would like to apply for mortgage and buy the other 60% . this place will be used some evenings and in weekends , would this qualify for residential mortagage ? i live in london with a friend and work here but travel back over weekends and…
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Advice on Remortgaging - slightly different question to all the others
We took out a £118k mortage on a property we paid £148k for in May 2008 - pretty much the absolute peak of the boom, just our luck. Anyway it was fixed for 5 years at 5.83% but spread over 30 years. I'd always wanted the ability to overpay if we could and was quite cautious when we took out the mortgage but it turns out…
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Help with being bought out of a mortgage
Hi, My ex-partner and I bought a proportion of a part-ownership property last year in a slightly unusual way - he put down the deposit, and we both signed on to the mortgage. We both agreed to pay all the fees incurred in buying the flat. We intended to get a deed drawn up stating the relative proportions of the property…
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Timescales for mortgages
Hello all, We have sold our house subject to contract. We accepted offer 12th October. The mortgage valuation was done on the 30th October. All conveyancing work has apparently been completed on both sides. We are waiting for the buyer's mortgage lender to make them the official offer. Spoke to EA yesterday who advised…
