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What is considered as financial commitment in mortgage calculator?
Was playing around with the mortgage affordability calculator and feeling a little confused about what is counted as regular financial commitment. I presumed personal/car loan, childcare will be considered as financial commitment but what about things like expenses, council tax, utilities, insurances? Thanks for your…
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Woolwich Mortgage Advice Please?
Hi Our fixed rate of 4.19% has finished and we are being moved onto the Lifetime Tracker SVR of 1.99% + 0.5% BBR = 2.49%. This is part interest, part repayment. Payments will be £810 a month, mortgage outstanding is £147,000 property value about £240,000. We rang up today and was told about Fixed Rates 2 Years Fixed 2.49%…
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Clearing debt 'on completion'
Afternoon forumites We are hoping to move house at some point in the next few months and will be clearing around £10k of credit card debt on completion of the new mortgage. When trying the 'how much can i borrow' calculators, some lenders say you do not include this debt in the calculations whilst others make no mention.…
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Equity in a House
Hi, please could someone tell me how I can release equity in a property that I own, I still owe £44k, the provider will not release funds but wants me to re-mortgage. I bought the property for £93, now its worth £375k I want to borrow £15k to pay off debt, I have another 4-5 years to go before I have paid it off. Why does…
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Remortgage / Buying ex out of property
My partner and I are currently in the process of buying her ex out of the property. They have a consent order saying they are both entitled to 50% of the property. My partner and I recently saw a mortgage advisor, everything went well, and the house is currently being valued. We are trying to work out how much we need to…
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Mortgage Calculation
My husband and I have just switched mortgage providers and our old company have refunded us a full months money but we think they have calculated it wrong and we still owe them part of the month. I phoned them yesterday and they said the account was now closed and that we should have received the refund. When asked if…
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Wife's current and credit card not showing on experian?
This is probably due to the cards being in her maiden name. Nationwide are aware of her maiden name, will they just run a check on her old surname before marriage to pull up the rest of her data?
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Putting kids on house deeds
Not sure if this is in the right section but here goes... I own my house but with a mortgage and have been thinking about putting my adult kids on the deeds. I know there are lots of ways about doing this but don't know the implications? Can anyone point me in the right direction please
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Mortgage Credit Scoring
Whilst saving up for a deposit; we've begun checking our credit reports. I've been checking mine for years as it was VERY POOR (I know why; silly silly me) but now it's gone up to FAIR. I know it's a slow process and needs a lot of hard work so I didn't expect to be any better than that just yet. His is only FAIR, even…
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mortgage query
Can anyone advise me i have two properties currently living in one the other is nearly finished being renovated the mortgage to cover these properties is around 570 a month in total, i would like to move and was wondering if i rented both properties out , they would probably achieve almost 900 in total could this income be…
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Are there any 100% or 95% mortgages?
Unfortunately we had to get off the housing ladder a few years ago due to redundancy and are now keen to get back on. We don't have a deposit although there is a possibility of family support, although we would rather not go down that route if possible. We are in our early 40's and both working in secure jobs. An…
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help to buy
Hi, I currently own my own home but it is getting a bit too small for the 4 of us, so I am trying to purchase a new build, I was going to try and purchase it outright but, a friend suggested I could maybe go the help to buy route, affordability is fine buying outright. The thing is I am expecting a lump sum in a 2 -3 years…
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Deed of trustee
Does anyone know if I can get a mortgage if my name is not on the deed but the person buying the property (my Nanna) is signing a deed of trustee to confirm that the property is mine. I suspect no but wondered if there are ways? The other option I have is getting a loan but they seem to be reluctant to lend because of my…
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Paying off/getting new mortgage
Hi, We have had our house on sale for a year, and are very lucky in that family have offered us the money to pay off our current mortgage so we can move despite not selling..but I'm now worried. Can we get a new mortgage to buy a new place and are there any tax implications? We still wish to sell our current house it is…
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Hi quick question about overpayments
Hi there, Ok so getting a mortgage with Santander for 57k. For overpayment they say i can make capital repayment upto 10% per year, (a minimum overpayment being £500). ok great so i have these questions; 1. What exactly is meant by 'capital' repayment as opposed to just a normal repayment? 2. so if 10% of 57000 is 5700.…
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In love but stuck!
Me and the other half have been looking at new build properties aiming for around the 100K mark and where looking at doing a 5% deposit with one of the new homes initiative, however we have just this week viewed a flat in a perfect location at 130,000 asking which is not a new build, I think we could probably gather enough…
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Mortgage declined
Hi, I am trying to find a mortgage for a shared ownership property, purchasing 40% at £40000, for which I have a £26000 deposit, so the mortgage I need is only £14000. After applying to Halifax, after initially getting a Mortgage Promise they declined me due to a linked address on my credit report. I have since discovered…
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Mortgage on a new build
hi all, I'm looking to purchase a property for around 230k, at present i'm on a joint mortgage which will be payed off and re mortgaged with the single person only.. (within next few days) I'm looking for a 75% LTV (have had a mortgage in princip), but wanted to know would i need to put down any deposits with the…
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Advice please
I am moving house and was on the phone to Santander tonight. When asked about the value of the house, as we are in Scotland advised home report had valued it at £162000 however we managed to negotiate £150000. I thought when arranging mortgage it would be valued price not purchased price that would be used, however have…
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Bank Statements of the last 5 years
Hi all I am moving flat soon. I have several bags full of documents. Banks statements, credit card statements, council tax bills, water bills, telephone bills, electricity and gas bills, etc. etc. Nearly ten years of documents (its not hoarding. is it? :) To be honest I do not need most of them. But one day I will be…
