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Cashflow/Moving House
We move house on 26/07/13 ie We hand over keys to our buyers, and get keys to new house. We were told we had to maintain a 10% equity stake (deposit) in the new place (165K home), and as like many couples we've lost a lot of equity in our first house bought in 2008. My question is about the manner in which the monies are…
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Remortgage to BTL plus new mortgage possible?
Hi all, I'm just looking for a bit of advice as to whether the plan I have in mind is possible\realistic or if it's just pie in the sky. I currently have one bedroom flat, for which I paid ~£82k in 2004 and currently owe ~£42k on the mortgage. I'm looking to buy a house to have some extra space and to be closer to work…
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What point do I get a revaluation?
Hi all, I would welcome your thoughts. I am keen to remortgage having recently come off a Long term fix. We are also in the process of having a big extension which i am hoping will bring the value of the house up to the point which will bring us into the 75% Ltv bracket. The key thing is I would like to move as soon as…
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Remortgage Advice Needed
I have recently purchased my parent's home in Wales which is mortgage free and valued at approx. £110k. I am looking to purchase a holiday/investment home in Las Vegas with a view to retiring there and living in that property in approx. 10 years time. I am 45 years old and would like to release some of the equity (£80k -…
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Let to Rent - which mortgage type?
A question came to me earlier, regarding somebody who wants to let their property, in order to move to another area to rent. If it was for more than 2 years would they have to convert the mortgage to a buy to let one? And is this possible, if it is their only mortgage? Thanks..
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Mortgages with a Default
Hi guys, I've been lurking around the debt-free diaries for a while, but have made the rather grown up decision recently that I'm going to start saving for a house whilst my rent and outgoings are low enough to save a sizeable deposit. I'm looking to buy in mid 2015 - we should have a deposit of around £40k then, looking…
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Tricky mortgage, any advice appreciated!
Hi, I've been spending the last month calling broker after broker and am unable to find the type of mortgage I need. I am on a Tier 1 visa with more than 1 year left, and am looking for a buy to let mortgage through a limited company. I am a first time buyer and first time landlord in the UK. The only brokers I have left…
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overpayments
Dumb question perhaps, how can I start making mortgage overpayments? I'm with Halifax and I'm allowed up to 10%. Is there a way to do it online and do I have to inform Halifax? I'm planning on overpaying about £50/month and possibly do a lump sum overpayment per year, at bonus time. Thanks!
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Unable to renew fixed fixed mortgage rate
Hi all Got a bit of an issue with my mortgage rate. For the last 4 years I have had it on a fixed rate (2 x 2yrs) and now it is due to expire bumping me back to the Standard Variable Rate and pushing up the monthly payments, which is going to push me over my already stretched budget. I have had some credit problems in the…
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Never had a mortgage.... but about to get one, question
Hi there As the title suggests, I have never had a mortgage before, but some of you may have seen from other posts that I am about to help my sister out in buying her next property, following on from her divorce. I have been talking to a great independent advisor and I know that we can get a loan/mortgage for the amount…
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What would be my next options?
Ok, so I am desperate to get on the housing ladder via the HELP to buy scheme. I've tried halifax but they need a 15% deposit, which I don't have. I only have a 5% deposit. I am now trying with Natwest. If natwest won't accept me, where can I go from there. I really want this house, and I am willing to do anything it…
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MSE News: Bank of Ireland makes partial U-turn on mortgage hikes
"Around 1,200 Bank of Ireland mortgage customers with a base rate tracker will escape controversial rate hikes..." Read the full story: Bank of Ireland makes partial U-turn on mortgage hikes Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to…
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Endownment Shortfall - What to expect?
Hi All, Please forgive my ignorance - i'm new here! I have 2 endownments maturing on July 1st 2013. One is on track :j, but the other is a massive 26% short :( . Two separate providers, the first was over a 20 year term, the second a 25 year term. My question is, what should we consider to be poor performance on the grand…
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Mortgage for someone else?
Ok so cut a long story short - friend wants to get on the property ladder but can't get a mortgage because on paper she doesnt earn enough. If i took out a mortgage in my name, all direct debits for bills etc would come out of my bank account but she would then pay me into my account each month and then eventually when she…
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FTB - Buying Below Market Value from Family & Overpayments
Hi All, This is my first post here but have 'lurked' the forums for a long time - and they have been really valuable! We are in the process of looking to purchase a property (the one we already live in) from our parents. They are willing to sell to us for below market value, in order to help us get on the property ladder.…
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97% mortgage?
Hello Do Nationwide offer 97% mortgages at all? Thanks Mark
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Mortgage valuation higher than sale price
Just wondering what happens in this circumstance. As I understand it, mortgage rates are heavily based around LTV. I am in the process of a mortgage which puts us on a 63% ltv. So, if the sale price was £100,000 we are putting down £37,000, and the rest mortgage. What happens if the mortgage lenders valuation came back…
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Fao brokers, can you give advice
Just wondered would one of you mortgage advisors give me some blunt advice if if possible. I have a crap credit rating in that I had defaults to pay back for some years from 2004, the last default was in January 2008, which I have a notice of correction on, as technically it was defaulted in 2004 and the date this company…
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Mortgage Rescue Application
Hi I am currently embarking on an application for MRS, myself and husband separated over a year ago and in the property with 2 children. We currently have a morg and a secured loan and also in an iva arrangement jointly, for the last 12 mths we have been dividing the outgoings together altho not living together but finding…
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Married but mortgage application in sole name?
My husband and I would like to buy a property basic details are Property value £200000 Mortgage required £180000 Husbands income £60000 My income £30000 The issue we have is that I have a poor credit rating whilst my husband's is near perfect. We have no credit commitments and are not financially linked in any way. Would a…
