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Buy-to-let - confused?!
I've started to look at buy-to-let mortgages, and I've come to the conclusion that I really don't understand them. Surely, they've factored in protection in-so-far as you can only borrow 60-70% of house value. So if you can't pay, you get repossessed and there's enough money in the 30-40% extra house value for them to not…
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Need suggestions Please!!!
I'm re-mortgaging for the first time. At the moment I'm currently on LTV 73% and I've done allot of searching. Now I've narrowed it down 3 mortgage choices. I'm struggling to make a choice here. Can you please provide your suggestions? Thanks Santander (before switching Santander I would need to make an overpayment to…
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Need help making sense of survey
Hi all. Hoping someone can help. We are in the process of buying a house. Just received our mortgage offer in the post and we were expecting to get the full survey back on the house we are buying but all we have is a sheet which is the mortgage valuation summary. It states that the house has been valued at what are paying.…
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Need some HELP......so worried
Hello, Totally new to the forums, be gentle please!! I really need some advice about our current situation as we don't know where to turn to now. We sold our house recently and have current mortgage with nationwide, up to date, no arrears. Applied for mortgage, or a transfer of existing one to a new property last week.…
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Remortgage advice please
I could do with some advice as one of my mortgages comes off fix in March. In summary: We bought a house for £390k in May 2011 Mortgage 1) ported from last house, 4.99%, fix ends June 2014. 4% ERP. Paying 10% OP maximum so can be at circa £85k in March (I'll do the 10% in January). Mortgage 2) £160k, ends March 2013, will…
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Remortgaging - Solicitors /Conveyancing Fees
Hi All My first opportunity to remortgage is looming but I'm having trouble understanding the costs (If any) with regards to Solicitor & Conveyancing fees? I'm not moving home I'm just looking to change who I have my mortgage with. I'm currently with Halifax, and until 1st Jan 2012 I'm on 2.79% Tracker, then it will…
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Mortgage Term
Hi, I have a quick question that I'm sure can be answered quickly! I'm looking to port my current Interest Only (IO) mortgage (25 year term) to HSBC 5 year fixed rate mortgage. I would like the mortgage to remain IO but HSBC have said that as I just hit the 75% LTV rate they can only offer me the IO mortgage over a 15 year…
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Sigh. Back to Stressing. Credit Lark.
Reet, something else to stress about. OH swapped the car in September, the usual lease hire term running out and getting a new replacement. We applied for the mortgage a month ago, but neither of us noticed they hadn't put the new agreement for the car on Experian at that point. It's around 6k more than the old agreement…
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Nationwide - 1.5% Consent to Let Charge
just a quick question to any nationwide mortgage holders who have/had consent to let. you will no doubt recall the stance that NW took a couple of years ago informing their customers that they would be applying an additional 1.5% charge for the privilege of having their consent to let our your property. well has anyone…
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Help mortgage has nearly gone up by 3 times!!
Please bear with me this might get complicated. My parents brought me and my wife a house for 200,000 against their property worth 320,000 which as a four we pay together but only my parents are on the mortgage and technically own the property aswell. this is their total debt apart from minor credit cards and a small loan.…
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Remortgage with a charge
We are trying to remortgage, but the lenders solicitor has informed us there is a second charge on the property. The second charge is from the builder who agreed to loan us 20% of the deposit interest free for 5 years. We are still within our 5 years interest free period, but would like a better mortgage interest rate. The…
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Should I cash in ISAs and Investments to reduce my remortgage?
I am getting close to remortgaging and will need to borrow 226k. I am looking at the Post Office 5 year fixed at 2.99%. I have about 20K in cash ISAs with Santander. These currently earn 1.75%. I also have around 20K in equities and other investments. No idea how much they earn. I realise that I should keep some cash in…
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Pep talk needed
Just had a call from financial advisor who said aip has been referred but for us not to worry - ok for him to say..... The application was with Accord/Yorkshire BS we've got a 25% deposit on a purchase price of £93500 fixed for 2yrs. He'd suggested that we take it out over 25yrs (I'm 44 other half 38) and set up a direct…
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Couple of questions about going to SVR
We took out our mortgage for our first house in Dec 2009 on a 3 yr fix at 4.99% (Lloyds lend a hand mortgage if that is relevant). The fix is coming to an end in January as far as I can tell although oddly we haven't had any communication from the provider about this - so that's my first question - should we already have…
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Fixed rate ending April 2013
Hiya Me and my hubby took out a fixed rate (5.79%) in April 2008 for 5 years with Halifax. House was valued at 100k (now they dont seem to be selling for 92k around the area) and we took out mortgage for approx 80k. We had a payment holiday when on maternity & wedding leave so a small portion is on SVR already. We used to…
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What do you think of this mortgage?
National Counties has a 5 year fix with 1.60 % discount of their SVR of 4.79%. The fee is £1200. I am currently with them anyway so sticking with them would cut out paperwork and evaluations etc. A rate of 3.19% for 5 years seems good. I have read somewhere that the BoE base rate is likely to stay at 0.5 % over the next…
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Porting - same amount & MCOB 11.8.1
I'm in the middle of some work on MCOB 11.8.1 which came into effect on 26/10/2012, in advance of the main MMR implementation in April 2014. While I was doing it, I came across PS12/16;- http://www.fsa.gov.uk/static/pubs/policy/ps12-16.pdf where, in the table on page 20, it states that a lender is permitted to carry out no…
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Mortgage and deeds question
My husband and I have a buy to let house. We have just separated and getting divorced. We have a family home too which we will sell. Approx £60k equity in that one. In the buy to let there is no equity. Mortgage is £106,000 renters cover the mortgage and we have about £300 a month profit from it. My question is, as we are…
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Covering your back with a new mortgage - critical illness?
We're going to take out life insurance for our new (first) mortgage. Talking to our IFA, critical illness seemed a good idea (we got the whole 'more people need critical illness than life cover' spiel). However 1) it's expensive and 2) checking on here and other places, I gather it may not be all it's cracked up to be -…
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Lenders that give Mortgages for Tier 1 visa holders
This question could have been posted before, but I thought I get the latest view on the information. I am a Tier 1 general visa holder that has been renewed/extended recently at which point I will have 2 years until ILR. I have been in the UK for 8 years now, 2 year at same address, 3 years with the same employer,…
