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Parent passing mortgaged house to child
Hi, My mother has had permanent residence in a house for 20 years with a market value of £180,000 and which still has an outstanding mortgage of £70,000. A couple of years ago she and her sister inherited their parents house, which she now wants to move to from her current house. Scenario 1: Is it possible that she could…
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What should we do now...?
I am 21 years old, earn 27k pa looking to try and get a mortgage. I went to my own bank (bank of scotland) and they have told me they are willing to lend me up to 120k - but would need a 35% deposit. This would be for any amount (as I only wanted around 50k) - so would still need 35% of any amount. I would only have a 10%…
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PLEASE HELP Lift scheme/ shared equity
Hello this is a question I'm trying to work out but very confused ........ I am trying to buy a house £210.000, I have a deposit of £92.000 through the lift scheme/ shared equity ........ I can potentially get a mortage of £108.202 at 95 percent...... If its 95 % does that mean they will give me the full £108.202 ? Then i…
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Where do I start? Mortgage brokers in Merseyside?
I have seen a house which could turn into a potential purchase however I am new to all of this and I have no idea of where to start. I am looking for a mortgage broker however I would prefer to go off a recommendation rather than google! I am based in the North-west (Liverpool) and I am looking for a mortgage of about…
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More FTB questions: How Much? Gifted deposits?
Hello everyone, We have a few first time buyer questions, so if anyone could steer us in the right direction, it would be greatly appreciated: 1 Very roughly, how much can we borrow? My husband and I have a combined income circa £60,000/year. We each have no debt, apart from student loan repayments, and our credit records…
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Declined for 2nd home 1st home -ve equity
Hi all, can anyone offer any advice? I've just been declined for a new mortgage by Santander to purchase an additional home for a family member - they are including the value of the retained home where I will be continuing to live (which is in quite a bit of negative equity) in the LTV and have declined it because it is…
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Proof of Deposit - How many months bank statement usually require
Dear everyone, Apologies if my question is very simple or silly. I would be grateful if someone could advice. I and my husband has been saving for many years into our joint saving account. Just wondering to proof of deposit, how many months of bank statement do I need to present in order to proof of deposit BY SAVINGS. Can…
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does a surveyor ask for buolding permission when inspectin a property for valuation?
Hi i am going to remortgage my property and i am looking for a better interest rate. However a bank could not find enough information about my property trough the electronic valuation and in order to valuate the price of my property for the remortgage process purpose a surveyor should come and inspect my property. I have…
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Over 50 and thinking of starting a Buy to Let
Hi Current mrotgage finishes soon and was thinking of using some of teh houses asset for a Buy To Let Salary is over 50k , but also age is over 50 (54) Looking for a small house/flat 160k I know its a bit late, but would it be a wise decison.. I expect to be able to continue work with expected salary for at least next 10…
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mortgage calculation confusion
We currently have a million year fixed rate with sharkleys at 4.89% with 10.5 years left on the mortgage and 5 years left on the fixed rate. I think our last statement had about 54k on it and we pay £560 per month Today I saw a fixed rate offer by the Yorkshire building society at 2.99%, so I put in rough figures of…
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New buyer nerves
Hello all, We're a young (ahem) couple with a 2 year old daughter and we find that we could be in a position to buy in the next 12 months or so. But we're nervous. With an income of 39k (she's full time mum and doing a great job of it!) we pay £650/month rent and are debt free. But we also have my wife's family in Ukraine…
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refused mortgage - advice needed
I plan to see a broker but any advice in the meantime would be great. myself and my husband applied for a mortgage (FTB) with natwest in ocotber 2012, we had a 10% deposit, have always banked with natwest with good accounts. Both our credit reports are either excellent or very good. We earn approx £65K a year between us,…
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Mortgage advice, Couple Questions
Hi, im looking into getting a mortgage within the next 2 years, hopefully sooner. Im 21, I earn 23k PA I have savings of around £5,400 My questions. 1. Is it possible to take out a loan from lets say, Tesco personal loans to bring my 5.4k up to around 8-9k so i have a 10% deposit? (houses are around 75-89k in my area) - or…
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how to overpay a fixed hsbc mortgage?
Hello, this is my question, i can make up to 20% overpayments, can i do it online? Is there a special way of doing it or just simply transfering money to mortgage account? Regards, Simon
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Paying off equity release and inheritance
Waccamole x
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Is there any point in overpaying my mortgage?
My fix has just come to an end and from 01/02 I will drop onto the svr which is 100 less than what I was paying. I have a two bed flat with a lease of approx 90 yrs and SCharge of 75 a month. It is unlikely that the value of the flat has increased so i still am at the 90% bracket at best. My mum believes I should use some…
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Looking to move - 2nd home mortgage advice
We are based in Manchester and my husband has an buy-to-let mortgage on a flat. The mortgage is currently £170 pcm (interest only). We have £21,000 in savings and are looking to buy a house to live in on a repayment mortgage in both our names. I am a teacher on a salary of £25,000, my husband is in local government on…
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Husband income....
We are applying for a mortgage with the Halifax But my husband income is concerning us, even though we thoroughly explained, more than once to the mortgage advisor. We are concerned if they ask his employer, they will just quote 'basic salary' which is half his earnings My husbands basic is £20k He then has £4k shift…
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Divorce and Mortgage
Hi I'm looking for some advice please. Unfortunately my marriage has broken down and we will end up getting divorced. Both my Wife and I are still at home and are looking at one of us buying the other out. Unfortunately I'm a bit of a numpty when it comes to mortgages so would appreciate any advice. We're currently in a 10…
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Remortgage Question
Hi ive just a quick query. Just coming up two years ago me and my OH purchased a property through the goverment homebuy scheme. Here are the details Purchase price 105995 Mortgage amount 75% Homebuy share 25% Of the mortgage amount a 5% deposit was paid upfront by ourselves. Our current equity is just under 69% and…
