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Discount as a deposit?
Hi all, just run this past you... I have a property valued at approx 110k that I want to sell to my son or sons for 70% LTV (77k) will most lenders take this into consideration or do they require the deposit to be cash/savings Also does anyone know if there are any tax implications for me as the vendor for selling below…
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Nationwide mortgage application process
Hi all, I had a meeting with my mortgage advisor on to get my mortgage application sent. He either sent it Wednesday evening or Thursday morning. I've then recieved text messages following the progress of my application 28/02/13 - Mortgage application has been recieved and the products have been reserved for my mortgage…
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Self build question
The opportunity has come up to possibly get a but of land with outline planning permission for a 4 bedroom house and I am sorely tempted to have a go at getting my dream house this way. Obviously (to anyone that knows me) I won't actually be building the house myself but getting a builder to do it but my question is really…
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Please help - big deposit fair credit
Hello - please help. Am really worried as am trying to get a mortgage jointly with my partner, just been declined by Barclays. Deposit is £100k, house is £210k so good loan to value ratio. I have CCJ from 2009 and default account from 2009. Currently we both live in rented accomodation. CCJ was for £273 - after this…
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HSBC Requiring Structural defects warranty for converted apt remortgage -
Hello, I'm trying to remortgage my flat which was converted in 2006. I just got off the phone with HSBC who have said that they will require a Structural defects warranty as it's been converted within the last 10 years. I've never heard of this and have not been asked before for this from my previous 2 lenders. Any idea…
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is it cost effective to move from hsbc 3% to 2.79%
hi i borrowed 51k over 12 years paying 421 per month back its a life time tracker at 2.49 + .5 boe rate so 2.99 % i can over pay and switch to any mortgage apparently. so hsbc now offer a 2.29 + 0.5 boe = 2.79 % tracker how much will i save per year if i switch?
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Mortgage affordability help!
Let me give you some background (this will be long, sorry!) Bought our house in 2004 through local housing association shared equity scheme (50/50). No rent is payable on the HA share, we simply split equity 50/50 on sale. Now, we want to move (3 kids now, so want a bigger house), and the HA is fine with us moving their…
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First time buyer with a 5 year plan
Hi All, Hoping some of the more experienced home-owning MSE members and savvy property investors can provide some guidance. I just need general advice on how to best use a sizable deposit to getting on, and working our way up the property ladder. After a lot of hard work and saving (and PPI reimbursements), my partner and…
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Increasing term issue
I spoke to my bank and asked if I could overpay my mortgage each month temporarily and not on a permanent basis. They sent me out a form. I signed the form but added to the form that this is not on a permanent basis. Heard nothing. I now want to decrease the payments to the 'normal amount'. They say, apparently, I'd signed…
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L&G endowment - amount paid today
In case it is of interest to anyone out there, my 25 year L&G 'with profits' endowment policy has just matured at £26,509. The mortgage target was £34,500 and I have been paying £63.80 per month. The shortfall of about £8000 works out at 23.2% less than target and of course far less than what was optimistically forecast…
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Equifax credit rating issue
Hello All Wondered if anyone had any advice on this issue. Equifax is not listing my credit cards or other credit agreements that I have on my credit report. This is having quite an impact on my credit score with them and also on the report itself. Other than my mobile phone contract, I am showing up as having no credit…
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Transferring a mortgage
I am self employed and had my current mortgage with C&G for around 5 years. I wanted to transfer it to a new property [exactly the same mortgage with absolutely no changes - time remaining 3+ years] and have been refused basically because [a] I cannot prove my income as only have bank statements and advice of payments from…
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No mortgage remortgage
Hi, I am a married man, I own my own home outright, in my name only. I want to remortgage, or similar to access the capital in my home. Would it be possible to sell the house to my wife, taking it that she has the means to pay a deposit and finance a mortgage? What other options are available to me? Thanks
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x2 lender declines...pick the keys up this morning
Just wanted to report on some good news, forums are normally full of issues, with a mortgage application. I was after a £100k mortgage and had a ccj and a default on my file and had 2 rejections with a previous advisor, I had a 20% deposit and a good salary but that didn't stop lenders showing interest. After some helpfull…
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Fixed vs tracker?
I have 2 mortage options: 2 year fixed 3.79% with no arrangement fee 2 year tracker at 3.29% above base with no fee (so currently 3.79%) I'm thinking that trackers only come into their own when there is a chance of base rate going down, but it's not likely to get much lower, is it? So it seems like fixing at a rate the…
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Mortgage or Personal Loan
Newbie looking for some helpful advice please. I have just started to dip my toe in the murky waters of home buying. Renting at the moment. Living in Edinburgh looking to buy in Lothians or Fife. I have £64,000 savings for deposit. No loans or debts Looking at properties between £50,000 to £100,000 I have seen an…
