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How do ERCs work?
Hi all - looking for some advice on how ERCs/remortgage would work. Currently with Nationwide - 5 years left on a 6.79% fixed mortgage (taken out in 2007), 184k left against a property worth (a pessimistic) 225k. Looks like we may be coming in to some money and, having looked at all other options, paying off a lump of the…
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getting a lower rate?
I have a relatively small mortgage (but over £50k). Although not in negative equity, the value of my property has reduced significantly since I bought it. Despite making lump sum overpayments I'm at 98% LTV, using a fairly similar property's recent sale price (after many months on the market), though that's first floor,…
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Help to buy equity loans
Hi all, I've recently been taking a look at some new buys and would really benefit from the lower % deposit needed when using the Help to buy scheme however I'm unsure on how good this scheme really is. I've looked at the costs and understand that after 5 years you will have to start paying interest on the equity loan the…
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Realistic chance of Mortgage ?
I asked a similar question before but wondering based on the below what are the chances of being accepted for a mortgage? I am looking to buy a new build family home 4-5 beds approx. £249,995 I am looking to buy it under the government new buy scheme. Ie. I put down a 5% deposit. My Salary is £74000 a year with a non…
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Consent to let from Woolwich
Has anyone had the experience of getting consent to let from the Woolwich. We have had our house up for sale for about 6 months and have reduced the asking price twice. We are quite desperate to move and have discussed getting tenants if we don't sell soon, and then renting a property in the area we want to live in. I have…
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Deed of postponement
Can an advisor please explain what a deed of postponement is (in plain English!)where there is a secured loan in place. Thanks as usual
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Ex partner died, joint loan
Hi, My ex-partner recently died and he took out a 2nd mortgage loan on his house to clear his debts but I signed too- the loan people said I needed to sign because I lived there but the house was not in both our names- his house. He said it would not affect me, they just needed to know who was living there. we split up…
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Mortgage Help
Hi guys, I'm wondering if I could provide some assistance with me on the best way forward. My Father passed away just over a year ago and the plan between my brothers and I was to sell the house. However, things aren't moving forward and I remember my Father wanting my family to live in the house. Now this is the tricky…
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Help with ownership percentages
Hello, I'm just about to buy my first house with my partner. We are planning to pay the mortgage equally but we are contributing different amounts to the deposit. I'm really struggling to work out what that means for the percentage that we each own! The house is £157,000 We are paying a deposit of 20% which is £31,400 We…
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Endowment Mortgage mis sold
Hi I am hoping someone can give me some advice, I will try to keep it short, My mum and dad got the mortgage in 1976, they were I believe mis sold endowment, when they got the policy they were advised at the end of the mortgage they would receive about 10000 in cash, The mortgage was paid off at the end of the term but…
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Woolwich
Hi, can anyone tell me which reference agency the woolwich use for their mortgage decision? I know Halifax use experian, just so I know if I need to purchase an equifax report Thanks
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Potential Pit Falls for a 90% 5 year fix?
Hi all, I'm a first time buyer and me and my partner have decided to go for a 5 year fix for our mortgage, as we think that it may be the best option for us. We've spotted a deal for a 90% LTV 5 year fix for 4.2% with no booking fee. The svr afterwards is currently 5.19% although we would prob plan to remortgage by that…
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Negative Eqity Mortgage .. but wanting to move.
Hi Guys, I am currently in negative equity on my mortgage .. at a guess by around £15k - £20k. I am wanting to move home. Does anyone know if the following is possible .. To make a house purchase on a much lower house value, and take add the 'negative equity' onto a new mortgage on a new house ? ? Or do I have to wait for…
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Can I Do This Myself?
I'm 25 and currently only working part time at the moment, but there may be some opportunities for me to take on more hours at work, obviously I'm not going to get anywhere mortgage-wise on part time so wouldn't start anything until I was full time but until then I'm doing lots of overtime to boost my savings. My boyfriend…
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Mortgage after trust deed?
After years of renting we are looking at trying to get a mortgage following a trust deed that was completed two years ago. Trust deed was initially started six years ago, so I'm hoping that after six years it drops off? Is this correct? Anyway, I know I'll need to speak to a broker, but looking for any advice people can…
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How much should you bid?
If you want to buy a house on market valued £100k for example, how much would you put your first bid in for? Is bidding £90k too cheeky!
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Changing to Buy To Let - how does it work?
We bought our apartment for £85k in 2006 and owe £73k now, we're thinking about possibly letting it out if we move but how does it work with regards to property valuation? I know we'd need a 25% deposit, will they base it on its worth as it is now or on it being an investment that is being paid for by a tenant?
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Details of buying a house
Hi all Finally after all the searching,waiting and failing we have had an offer accepted on a house. We did a new DIP last night with nationwide which they agreed to. However I was going to submit the full application last night however it asked for house details such as build year etc, so of course could not. I presume I…
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How is a mortgage discharged on sale when there's a deed of trust?
I apologise in advance for the length of this post but it's going to need a thorough statement of the situation and how we got here. I want to try to avoid you having to ask me for clarifications. My partner and I are first time buyers. We've been living together as an unmarried couple for about 5 years, in rented…
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Confused about mortgage interest after rate change
I have a repayment mortgage with Nationwide on which the interest rate changed from 2.5% to 4% in November 2012. At the time of the rate change there was £47,000 outstanding on the loan, with 13 years of the term left. The minimum montly payment was £381 before the rate change, and went up to £393 (I have not been…
