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Should i pay a bit extra off my mortgage
I have an interest only mortgage which I know is not a good idea but at least Me and my kids have a house to live in with some equity. I also have about £8.5k debts on CC/loans mostly due to buying the house. My mortgage provider has now said I can change what i pay at no charge. There is no way I can change it to…
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Buying with mortgage and cash?
Hello all, We are first time buyers and have a question which answer seems to be evading me. The theory behind it... Say if you maximum mortgage is £150k. The seller won't take less then £155k. Where would I stand if i wanted to bid the £150 and pay the other £5k in cash. Is it possible to do this and would it be through…
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How can I raise £35000 on £300k house ?
briefly we need to get a house with an annexe, mother is selling her bungalow for £165k, have found a house with a cottage for £195k, my house is valued at £300k with a £65k mortgage. We can't sell my house for a month or so due to work being done, so I want to borrow enough to buy the house with cottage now before its…
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5 year Fixes
Trackers seem treacherous at the moment, but Im not sure I fully understand how fixed rates work. At the end of, say, a 5 year fix at 4.3%... couldnt the lender inform me my rate is now going to be 15%... whats stopping them doing that? Also, typically can you move to another mortgage lender or agree another similar fix…
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BTL for FTB
Hi, I am a first time buyer looking to get a buy to let property as I am not ready to move out yet. Any advice on companies that offer BTL mortgages for FTB would be greatly appricieated. Or any other options too. Thanks.
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Nationwide - When will my first payment be deducted...
I received my mortgage offer. My completion date is 4th Mar'13 but, the Nationwide mortgage offer letter stated: These payments are based on a mortgage of £xxxxxx and assume that the mortgage will start on 1st March 2013 and include the fees........ an initial payment including interest charged in the month of advance and…
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Maintenance Payments.
Hi All. I have just applied for a mortgage with the nationwide and I have DIP. The application is based on my salary of £32,000 with 1 dependant child. I recieve £1,100 a month by way of maintenance payments plus additional monies that go towards a university fund that I and my ex equally contribute for our son. My son is…
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How to Establish Credit Rating for Mortgage
Im 19, and i want to buy a house in the next few years hopefully. I need to establish a Credit Rating for me to do this. The only thing i have on contract is my phone contract. i have a interest free overdraft limit, if i use this will it improve my credit rating. thanks in advance im on the electoral role so Iv done that,…
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mortgage on a full and part time salary
Hey I work full time earning about 25k. My partner works part time casually. Would a mortgage lender do an application based on the last 6-7 months of salary? Thanks
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northern rock interest only mortgage
we currently are on a variable rate interest only mortgage with northern rock, and have been for almost 10 years, with only 20 yrs left on the mortgage, we're extremely concerned about what our options are about going on repayment. Nram have given us a repayment figure of £886 monthly which is way out of our budget, no…
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I know very little. about mortgages
But in next 6 months I could be looking at getting one. Houses I am looking at are in the region of £55-60k (You can get a decent place where I live for that price;)) Will be looking to put down £25k. Looking to pay it off over 25year, maybe 20 year if its worth paying the extra a month. As I am 38yo the shorter term loan…
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Would it be possible to get a mortgage?
Hi, I have seen a very nice house but am unsure if this is possible! I earn approx 16.5k. House is 67k but looking for a quick sale, property needs some work but mainly decrative. Deposit of 10%. As a single applicant would this be possible? I am young (does age matter?) and don't have any bad credit but then again have…
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Likelyhood of Mortgage offer being withdrawn
Hi there, I hope someone can help. We have exchanged and are due to complete next week. The mortgage is for 70% value and to get a particular deal our broker advised that we would need to put in an additional £7k of our own money. However when I got our financial statement late on Friday, our solicitor advises that the…
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Get a Mortgage offer before paying solicitors legal work?
Hello, I got an offer accepted on a house last week and instructed the solicitor. We don't yet have a mortgage and was wonder whether to wait till we have a full offer before getting the solicitor to do legal work and searches for us. Was just thinking if the worst happened and we couldn't get a mortgage we would not have…
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Remortgage and New Property on fixed term contract
Hi, Thanks for reading. Would anyone give a mortgage to me on a 2 year contract with a University research team. Partner in full time perm employment and has been for 6 years. Will be joint mortgage. I have always worked, went back to Uni for a year and started new job in September 2012 for 2 years contract to start with.…
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Remortgaging to raise funds - wait until fixed term ends?
Hi there My fixed term Santander mortgage still has 18 months to run and I would like to add to the amount borrowed in order to do some work to the house. I am assuming this will be the cheapest way to raise the money in the short term? However, I am assuming that if I attempt to remortgage now, I will incur early…
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HELP! First time Mortgage and employment
Hi Myself and my partner are relocating closer to where he has been offered work. We will rent initially for about 6 months (in 6 months time) and then buy when we have found an area we like. I will eventually leave my own job and find work where we have moved to. For the time being, I think it may be wise to keep my…
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Mortgage Advice?
Is it possible to get a mortgage or re mortgage at 53 and only working part time and now a low earner? Wife and I both work part time, own our own house, though technically still have a mortgage account (deeds in deedstore so still owe £125.00) using savings at the moment to live on plus part time earnings after taking…
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Morgage advice needed - bad credit but need to move
Hi all Me and my husband have owned our house for 7 years and are looking to move as we don't live in a nice area and now we have a child. We will have about £14,000 equity in our house and have savings of £10,000. The houses in the area we are looking at are approximately £240,000 so we should have a 10% deposit. My…
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London & Country DIP Question
Hi all, I rang London & Country to check how much I could borrow for a mortgage yesterday. I wanted approx £150k with a £25k deposit. Guy said it should be comfortable and the letter came back with anything up to £180k. Is that offer based on my potential deposit or is it only based on the affordability check he did? If I…
