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URGENT HELP REQUIRED! Mortgage Approved By Bank - Declined By Underwriter.
Myself and my partner recently had a mortgage approved by our bank, we have borrowed under the amount we require because of the deposit we have managed to put together. When it came down to the last few details the underwriter of the mortgage has declined it because I am a "high risk lender". Can't understand this as my…
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Do I actually NEED a buy-to-let in this situation?
I currently live in a house I own outright (without any mortgage) which is valued at approx. £110K, and I want to raise a 70% mortgage on it to release some capital for a new purchase... And then move out and let it. I have been researching buy-to-let mortgages and discovering they are much more expensive than standard…
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FTB help please
Hi, I just registered if i could get some help by some of the experts here. this is my first time so please be kind to me! :) I am a first time buyer, gross inc of 42k, I work as a sales co-ordinator, since the past 6 months (permanent), thought i have been working on and off on a temp basis. Got a MIP with halifax for…
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IVA settled early and now needing a mortgage
Hi all I sadly found myself in an IVA 3 years ago having been made redundant, childcare fees etc etc. Good news is that 3 years on I have settled my IVA early and paid it off. I am now waiting for my certificate of completion, following PPI investigation which has to be done first. I am hoping to move house soon. I earn…
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Barclays Springboard Mortgage question
I'm hoping someone could help me with a query I have about the Barclays springbord mortgage. The following figures are rounded up to make it easier to explain!! If we saw a house for £200K but the mortgage we could get would only be £150K due to wages, would Barclays lend us more because of the £20K springboard savings…
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Nationwide mortgage - porting?
hi all i currently have a Nationwide mortgage 2.99% fixed for 4 years at 62% LTV (i'm shared equity) when i took out my new deal, the advisor said it was portable but i'm not sure if they meant within a similar LTV range. so i was wondering... can i port this mortgage towards a non shared equity property (which in total…
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Arrghh! What a headache!
So - I guess a good problem......... I'm due to exchange contracts on Wednesday/Thursday and complete on the 2nd April which is all good to go. Last week I was approached by another company offering me a very good job - almost twice my current salary. I saw them Friday and they've asked me back Tuesday - they want me…
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Can I Buy Another property and rent mine out?
Hi Moneysavers, I have a question to which I can't seem to work out a correct answer so any educated advice would be appreciated. I am planning to move house in about a year (I know this is a way off but want to see where I stand) I am living in a house my husband and I have owned for 17 years. We have a £75000 endowment…
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How to compare different endowments
Every year the press carries articles of endowment payouts from different companies and there are plenty of examples on this site. The trouble is that there does not seem to be a standard format for these reports and it is hard to compare them all. I am thinking that there ought to be a way to take into consideration the…
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Sole mortgage holder but no financial interest in a property likely to be reposessed
Hi all! I joined this forum to see if I can get any advice on a fairly complex problem I have been left with as the result of a very messy divorce. So apologies in advance for such a tedious first post. I got divorced in 2007. Pre divorce the property was in my sole name as adding my wife to the mortgage application would…
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Selling a house and mortgage for newbie
Hi I'm new to selling a home so please bear with the dumb questions! Me and my partner have a mortgage for £125,000 for our very first house,we'd like to sell and find another for around the Same price just closer to my parents, I'm looking for some advice on what to expect and how to go about things, Correct me if I'm…
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offset mortgage- pay off or keep the money
Hi I have £160000 outstanding off set fixed rate ( 5 years) mortgage with £45000 in offset account Iam paying £ 900 per month I have another 15 years to pay will it be better for me to contribute to savings account so that I can offset the interest I need to pay and will have the flexibility to use the money when I need OR…
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Desperate for guidance with critical Illness
Help/ advice needed desperately...... Me and my husband currently have a mortgage with Halifax and on that mortgage we took out Life Insurance & Critical Illness which we have been paying this since we took the mortgage out 5 years ago. In January my husband was diagnosed with skin cancer (Malignant Melanoma) and has so…
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How is commission viewed by lenders re mortgage applications?
How is commission viewed by lenders? Earnings have been consistent over last 4 years but this years commission will be higher than previous due to a re-structure in the commission system. Do lenders take 100% of the commission into account as its been consistent or is it generally a set %? Anna
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help
made a huge financial mistake 2007 and moved from a high street lender to a sub prime mortgage interest only with no repayment vehicle. Financial advisor told me it was a short term plan and I could change my mortgage in a few years. It was also sold as a self cert mortgage. I am 52 yrs of age and 12 years left on the…
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Cancelling Direct Debit
I've currently placed one of two flats on the market but unfortunately there's been a boiler problem in the past week. This meant I have had to get it replaced in order for tenants to have heating and hot water. Not having any spare cash to pay for this all I can think to do is to cancel direct debit mortgage payment and…
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Advice on first Mortgage...
Hello, Long time reader, First time poster... The current situation is that I am looking for buy my first house. I have seen what I beleive to be the perfect place on the market for £124,995... My question is as follows: Can I get a mortgage? / What are my chances / options. Deposit amount: £35,000 Salary: £19,500 Avg…
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Many Debts or One Big One?
Not sure if this is the right place, but I am musing over a course of action and appreciate some thoughts from a different perspective. We have a mortgage with Virgin One and owe roughly 80,000 on a facility of 100,000. Currently our interest rate is 4% We have no other debts apart from a loan and our car finance. I have…
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First time buyer with late payments - advice please :)
Afternoon all My OH and I are looking to buy a house but I'm worried about how my previous credit history will affect this hope! My stats: - OH earns £27k - I earn £31K - I have a child from a previous relationship so recieve CB, no maintenence through court order, only through mutual agreement - We have a £40k deposit -…
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Is this as good as it seems?
Forgive me if I'm asking stupid questions, but I'm new to all this mortgage stuff, and getting my head around a lot of new info very quickly! I want to borrow £48-63K, and and will have a deposit of £70-77K. My own bank is offering the deal below. It seems like a good one to me... Am I likely to find anything better?…
