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What happens when Offset amount matches Mortgage balance?
I have only just started using my Offset feature, so can someone please help me understand how my Offset Mortgage works? The interest in the Offset account is the same as the interest charged on the mortgage. If I had, say, £100k in the Offset account and a remaining balance of £100k, would it cost me more money to “keep…
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Buildings insurance on exchange or completion?
Hi all Shortly about to exchange on a new build home with a completion date at the end of June. Should I be arranging buildings cover for the time of exchange or not until completion? I know it's normally exchange but have had conflicting advice that its not needed until completion for a new build. Obviously don't want to…
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Showing additional income for mortgage (first direct)
Hi all Currently living with my parents and rent my own house out and declare income via self-assessment. Now I owe nothing on my house, and wondered what figure mortgage lenders would use. Would it be just be rental income, or wou,d they deduct expenses relating to it. If tax year 20011-12 I got just over £4k on income,…
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New Mortgage
Myself and my partner and applying for a new mortgage with The Woolwich for our first house. Unfortunately, when my mom got sick I went into my overdraft to pay for everything. As my wages have not changed in five years I have never had the means to pay it back (it is an agreed overdraft with my bank) and therefore live…
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Help
I am looking to buy a new property - it is an old mill which is being converted into 2 apartments. That is the only development on site being done by a small independent developer. I cannot ascertain whether the building has previously been lived in. I have a mortgage agreed in principle - could someone please advise what…
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Mortgages without Indefinate Leave to Remain & Defaults
Hi, Im new to MSE but thought i'd give it a go. I'm in a hugely frustrating situtation. My wife is British National and I'm South African with a spousal via. I get ILR this August and visa expires December 2013. Though I've been in the UK for 9 years now! I was going to wait for ILR but we came across a property we fell in…
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How can i escape NRAM!
Hi, Looking for some advice please. Me and my ex partner took a together mortgage with northern rock in 2007 for 100% of the value. The house is worth roughly what we paid for it so hopefully selling it won't be an issue. Obviously i wont be able to get another mortgage with northern rock though. My dilemma is this, i now…
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Mortgage advice please
Evening all, long time lurker here but finally had to register to ask for some advice. Me and my wife currently live with her parents, her dad has kindly offered to gift us in the region of 20k for a deposit on a mortgage. The immediate neighbour inherited his house around 20 years ago and has only lived in it for maybe…
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Interested calculated daily ...
Is that better than annually or not ... ?? :beer:
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Best 70% LTV Mortgages. Please Help
Hello Everyone I am hoping to buy an house for around £282,000 and have a deposit of £85,000 meaning I have 70% I have been looking for deals on best, the three best deals that stand out are Northern Rock (Virgin Money), HSBC and Santander. I am looking for 5 year fixed deals only. Below are them Northern Rock: 5 Yr Rate…
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Barratts dream start help desperately needed - we may be forced to sell our home
Hi folks, I'll keep this as simple as possible and stick to the facts. We purchased our home eight years ago with a mortgage of £120k and a dreamstart offset of £40k. We were told at the time that the £40k would be repayable either upon sale of the property or after ten years, and that the figure would be adjusted in line…
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Santander Newbuy DIP - Document Question
We are going through a mortgage application in relation to buying a new build house. We have a decision in principle from Santander for 95%, our credit files are both in excellent condition with no bad marks what so ever. Our broker has told us to submit past 3 months bank account statements, these apparently can be…
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Moving house, buying business - problems getting domestic mortgage
... Changed my mind about posting.
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Refused mortgage by Santander
Hi hope someone can help as panicking a bit at the mo :( Have had a mortgage with Santander for the last 8 years. Just sold my house and as i have 2 more years to go on a fixed mortgage deal telephoned them and got a mortgage agreed in principle including porting my original mortgage and a 2 year fixed deal on the…
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Barclays Family Springboard Mortgage?
Hi there, After thinking that our chances of ever being able to afford a house deposit were zilch for the foreseeable, my dad has surprised us by offering to pay the 10% savings deposit as well as the 5% homebuyer's deposit under the new Barclays scheme here or else pay a 15% deposit on a classic mortgage. There are a few…
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reclaim unfair mortgage fee!
My husband and I recently applied for a mortgage, through our mortgage adviser, with Coventry. We chose coventry as it was the cheapest repayments and the lowest fees. Only £199 valuation fee. We were approved. However when the letter arrived confirming our offer the offer had changed. The rate had gone up significantly…
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Santander full app accepted... will we be ok?
Submitted our full mortgage app today for 85% LTV ratio on a £80k house purchase. The full app was accepted and it has now been passed to Santander/Abbey with bank statements, passport, payslips etc. I have dipped in and out of my arranged overdraft over the past 3 months and am now wondering what the impact of this will…
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What is a dependant ?
I'm in the process of completing my mortgage application, I'm doing in my own name as I earn £105k a year, have £150k deposit, and only looking for a mortgage of £100K. so don't really need to include the other halfs income. I have a civil partner, who doesnt work, but has his own income via works pension and DLA.…
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Need knowledge! Sipp,domestic mortgage and commercial mortg
Hello Glad to be back I havent been on here for ages, but now need some help peeps...I want someone /anyone who has knowledge of arranging a sipp with a commercial mortgage, and also a domestic mortgage too..buying a business with a house too. Many thanks in advance,
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Studio or 1 bedroom?
Hi all, I have an approval in principle from a lender (chelsea BS), which apparently does not lend on studio flats. The property I've made an offer on is larger than most 1 bedroom flats (~600 sqf) but there is only a sliding door to separate the (small) bedroom (which has a walk in wardrobe) from the living room. My…
