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Buy to Let, with dependants as tennants
Looking for some advice. Do I need a buy to let mortgauge on a house I have a residential mortgauge on already, if Im renting it to my ex with my child living there as a dependant? Im not looking to make any profit, but how will this affect any tax I pay? Also I dont want to get stuck with a big bill if the central heating…
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Remortgaging Query - Deposit
Just in the process of getting our first mortgage at the moment (you may have seen other threads:o). I've got a query concerning remortgaging after the fixed period. How is the deposit raised when all your money is tied up in the property if you wish to remortgage? Do you have to take extra equity out of the property?
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Mortgage company charging ground rent arrears
Just had a letter from mortgage lender saying they have added a large amount to my mortgage account as I owe some ground rent arrears. I knew nothing about this, and was not informed by the lender they were going to do this - the lender received a letter from a solicitor 14 days ago and went ahead and paid them by charging…
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Woolwich Re-mortgage Question
I applied for a re-mortgage for equity release with our current lender the Woolwich on the 22nd April after a succesful DIP. (I went direct not via a broker). I am separating from my husband and buying him out of the house so I needed to borrow more than what we currently owe. The Woolwich did a full credit check via…
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Offers on Repossessions
I'm currently in the process of trying to buy a repossessed property. Our estate agent told us that if our offer was accepted, it would be published in the local newspaper and anyone wanting to pay a higher amount would have the right to do so before contracts are exchanged. We put an offer in 10k above the asking price…
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Is new job and moving house always a mortgage problem or just my lender?
This is my first post here so I hope I don't inadvertently break any rules. I'm a bit shocked at the response of my current mortgage lender and a friend has suggested I ask around this forum for advice. Basically, my employment situation means I need to move across the country and so I want to buy a new house. This turns…
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Endowment Query
My wife and I took out an endowment policy when we took out a mortgage 24 years ago. Due to a change of circumstances we sold the house some years ago and began renting, we never got round to cancelling the endowment which now matures next year. Neither of us knows anything about this area but wonder if anyone can tell us…
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Two Potential Mortgages, Need to Decide!
We are currently considering two potential mortgages and just wondered what people thought of these and how could I calculate the two offers and see which is the best one. Both are for 80% LTV * HSBC, fixed at 3.89% for 5 years then to 3.94% SVR, product fee of £599 however reduced to £399 if you take an advance account…
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Yet another help to buy question!
I've been researching whether house builders are allowed to offer incentives if you're using the help to buy scheme so if they claim they can't as some other posters have stated i'll have an idea whether it's the case or not. I've had a poke around on the intermediary sire for halifax and this is what i found.... " Builder…
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Pay off student OD with deposit savings?
Saving for a mortgage with my OH, currently have about 5000 in my ISA, but I know I am coming into some money in August. Question is whether I should pay off my interest free student overdraft now with my savings, so that by the time I get the extra money to replace it will have been out of OD for couple of months, as not…
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Difference between?
Does anyone know what the difference is between the true balance of a mortgage and the redemption figure? I'm a little confused. Thanks
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Photocopies or originals?
The documents that the broker/mortgage lenders request, such as payslips/p60/bank statements ect, is it ok to give them photocopies or would it be better to send them the originals? Would they be suspicious if you gave them photocopies? many thanks
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How do lender takes into account BTL mortgage when applying for residential mortgage?
I am thinking of moving house at some point. The idea is to change my current house to a BTL mortgage and get another residential mortgage on the new place I will be moving to. My question will be that since it will be a new BTL mortgage, I suppose they will take into account of this when applying for a residential…
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Should I declare this before exchange?
Hi all, just wanting some advice regarding mortgage offer and house purchase. Mortgage approved for 80K, 20% Deposit, 2x income multiple, single application. During the legal process, I was asked for proof of deposit and 6 months bank statement showing the money. The deposit is in a single savings account, with monthly…
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BTL for parents
Hi all, i'm weighing up some options and after a little advice. I'll be buying my first house at the start of next year and am buying well within my means. It enables me to save a considerable amount each month. With this in mind i'm reserching buying a BTL as well as making overpayments to my own mortgage. AND with this…
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Help to Buy mortgage - is broker necessary?
Hi all, Newbie FTB here. My wife is self-employed as a music tutor making about 8k profit a year. I'm in full-time salaried employment (50k). Our situation is quite straightforward with no missed-payments, no CCJs, etc. The only thing we don't have is electoral roll registration because we're not UK/commonwealth/Irish…
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New Job
Hi, I am currently employed and have been in constant employment since I started university. A position has been offered to me at a rival company with the start date in a couple of months time. If I were to apply for a mortgage in the same month that I start the new job, would this cause any issues in regards to the bank…
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Can solicitor request mortgage funds before exchange?
I have asked my solicitor about the possibility of exchange and completion on same day. No chain on either end, property vacant and unfurnished, vendor living elsewhere. Solicitor says he requires minimum one week between exchange and completion, so that funds can be drawn after exchange and cleared before completion. The…
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How far to stretch
Hi all: Hoping for some advice related to how far people think might be reasonable to stretch on a mortgage on my next move. Also wondering what sort of back ups are in place if someone was not able to pay their mortgage, just in case it happens, I'd like to know what is typical. I realise much of the first question will…
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Existing lender match deals ?
Hi ! Mortgage is up for renewal. Just wondering if anyone has had their existing lender (mine is Progressive, NI) match another lenders deal ? Or are they totally inflexible with what they offer ? Nationwide is the best deal I can see so far. 5yr fix 3.19% £99 fee Thank :) Mark
