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Interest paid goes up when balance goes down???
I've just checked my mortgage statement online and noted that in March the interest paid on the outstanding balance was less than in April, when the balance was less. How can this be? Surely if the balance goes down, the interest paid should go down as well? I've noted this on my credit card statements too (both with the…
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Help Please! solo mortgage application to the underwriters
Hi everyone Looking for some advice as im tying myself up in knots. Any advice welcome and correct me if im wrong as im very new to the whole mortgage world. My partner and i are looking for a mortgage. It will be in his name only as i have a DMP and my credit score would only hinder us. We understand the risk with this…
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How much will they use?
My hubby earns arounf £6k in overtime on his duty at work & £7k a year on his 2nd job anyone know if nationwide will take the whole amount into account when working out how much we can borrow or will they half it like santander did?>
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Pulling our hair out
Hoping someone can help me here. Our mortgage broker is starting to annoy us a little bit and the fact that he is going to charge us for using him at the moment takes the mick. We reserved a property back in March, new build on shared ownership. And our exchange date is June. Despite sending all the requested documents to…
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Mortgage Offer Received!!!
Hooray!!!! Received our official mortgage offer this morning!!!! Thank you to everyone for whatever advice I have been given either directly or indirectly on here. It's been a bottomless pit of useful information and it has really helped ease the stress(ish) :beer:
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Help to Buy - through a broker or direct?
Hi all, I was all set to do this solo and go directly with Halifax - I have an appointment on Saturday - but I spoke to a really helpful financial advisor yesterday (independent I should add) and he filled me with a lot of confidence. He charges £195 for his services and I felt he was very honest and knew a lot I hadn't…
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nearly ready to apply for a mortage - my plans...
Hi all, hope you're well! I thought I'd share my situation with you,for peace of mind really,so I welcome constructive comments! background..After a divorce & repossession many years ago (1999) which is all paid,done & dusted,debt & struggling to bring my family on one wage,after hard work & sensible spending,I'm now in a…
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Are Halifax a good option?
Hi all, we have today had an offer accepted on a 3 bed semi costing £195K Me and my wife are FTB with currently a 10% deposit Our joint income is around £47k Our credit history is as follows: Myself - No outstanding debts, but around 6 late payments on various on credit accounts dating back 4 plus years ago. Also I had a…
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New Mortgage - Please read this and Help
I earn 40000 per annum. This is my gross. My take home after all deductions (NI / Tax) and taxes would be around 2550. I am not putting in any money for Pension. Iam planning to buy a house in London. I have no interests on Flats. My budget is maximum 220000. I am looking in and around East London for a 3 BHK House.…
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Bad Credit Rating/Partner Great Credit Rating
hi, just hoping someone can help me out, me and my partner are looking to buy, however i have a terrible credit rating. on the plus side my partner has an excellent rating. How will this go on our overall application?? Any advice would be great! Thanks
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Small mortgage - best options?
For the past couple of years I have been saving towards moving to another house (I already own my current home outright). If I continued to do this I'd have enough to buy the property I wanted outright in about a year. As it stands I'm about £10k off my target. I'm really keen to move right now though and would like some…
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IFA London
Hi All, I am looking for an IFA in London for the following situation. Me and my partner own a flat in Edinburgh (180K) paid off. We both work and moving to london in Augustus. We are looking to either sell the flat or take equity (60%) out of it as a deposit for a new mortgage, that we will use to buy a house/flat in…
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remortgaging
Hi Members, I am in a dilemma, I currently have a joint mortgage with my wife and have had the mortgage for 15 yrs. last year our marriage was going through some difficulties and we separated for 6 months but now back together living in the same house, I started my own business in march this yr. and have looked at…
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mortgage transfer
Hi Members, I am in a dilemma, I currently have a joint mortgage with my wife and have had the mortgage for 15 yrs. last year our marriage was going through some difficulties and we separated for 6 months but now back together living in the same house, I started my own business in march this yr. and have looked at…
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Halifax Full Application
Hi all, new to the forums... I'm currently waiting to hear from the Halifax on my full application, on a 95% LTV New Build... Full application was submitted just over 3 weeks ago, bank stats, P60's and pay slips were sent over to the Halifax a week ago via our Financial Advisor, whom constantly advises me 'in the world of…
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Bank says overpayments mean my monthly payment has to reduce - correct advice?!
We remortgaged in August last year, onto a 2 year fixed deal. The contract that we signed specified what our monthly payment would be, and also said that we could overpay up to 10% of the balance each year without penalty (this year, that is just over £10,000 as we have just over 100k left on the mortgage). We recently…
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PO 5 year fixed mortgage - new builds applicable?
Hello all I've been shopping around for a good deal. At present, I can only really afford a 5% deposit on a property around £300k or a 10% deposit on a property around £250k. A property hasn't been settled on yet, but one of the deals which I have seen is the post office 90% LTV five year fixed rate mortgage. However,…
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Shortfall in funds
Hi. My mother passed away in March and I am very shortly receiving the first part of my inheritance from my mother's investments. We also have to sell her bungalow, which is proving rather difficult at the moment. We are moving house and have a very keen buyer. We have found a property we like and with the money for our…
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Part exchange help
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Inherited A Property but...
My wife is about to inherit a house from her granddad who has passed away. He left a will asking for the house to be left to her and everything else shared with other family members. He has a small mortgage on the house, about £1300 is all that is outstanding plus other none secure loans, credit cards ect and the total…
