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Mortgage for buying further share of flat
Hi, I currently have a 40% share of my flat and a mortgage with Barclays. I would like to buy the remaining 60% share. I remember Barclays explained to me, they will give me another mortgage in future running in parallel with my existing mortgage should I wish to buy further share, when I took out the mortgage. My question…
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London & Country Mortgage Brokers - Warning!
I used this firm as they came highly recommended on moneysavingexpert.com God knows why Martin Lewis thinks so highly of them. I found them to be a bunch of cowboys. The 'mortgage adviser' I spoke to was very personable and helpful until the point where I set the mortgage process in motion...at which point he lost all…
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Mortgage over payments
I have a mortgage which is separated into different parts, i.e. the capital itself and the fees which were added to the mortgage are in 'separate accounts' of the same mortgage. Interest is the same for both (I think!). Is there any logic in overpaying either one before the other? I am still in a fixed deal so will total…
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When to instruct solicitor?
Once i have an offer on a place accepted i instruct halifax and pay them the valuation (I'm going with the one buyers report on top of their mortgage val). I was wondering when is best time to instruct solicitor? Basically I don't want to fork out £410 to solicitor as fee until I know for sure mortgage is going ahead and…
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Skipton building society
Hi all Applying for a mortgage with Skipton directly for their special birthday mortgage at 3.99% for 90% ltv for a new build. Passed the decision in principle and have submitted the application forms today in the post, does anyone know what their lead time is for saying if we are definitely going to get a mortgage? Need…
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Tax implications of paying my mums mortgage..
Afternoon all, Situation: Since my mother stopped working (5 yrs ago), i set up a standing order to her account to pay her mortgage. Every year I pay a lump sum towards the reduction of the total outstanding mortgage (usually £10k). Question: As the property is my inheritance, are there any tax implications with this? Any…
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Remortgage with view to sell
Looking for some advice on our current mortgage/house ownership situation... We have a house with a mortgage that has just switched to SVR (repayment mortgage). We currently owe £216,000 and the house is worth approx £225,000-£230,000. We relocated a few years ago and were given consent to let as we couldn't sell in the…
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Benefit in kind effect mortgage query?
Hi all, My employer is offering a mortgage product of 2.24% (1.74% above base) to employees. I have recently came out of my probation period and i'm thinking about applying for a 95% mortgage with them. I have been advised there is benefit in kind implications, i've tried asking about and searching but I can't find any…
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Halifax FTB Mortgage - Stamp duty included - Slow processing
Hi, I am currently waiting on Halifax to get back to me on my first time buyers mortgage application. I am buying a house for £225k and have a £50k deposit. I did a full application on the 25th May and was fast tracked first, and then was asked for a whole load of other documents a few days later during the bank holiday.…
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Self employed mortgages after governement changes
I understand that the government as improved things somewhat for mortgage market, providing cheaper money to mortgage lends and new rules to help with deposits. My question is directed to mortgages for the self employed. 1. Are lenders now relaxing criteria for the self employed? e.g. for income multiples, what constitutes…
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Working out where to start
Hi I am currently looking at applying to see if I can get a mortgage. I have a good deposit saved up and have a regular income as well. Looking at all the mortgage info is quite daunting and so no idea where to start. What I have gathered is that the more deposit I have for a certain house value then the less percentage my…
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Earnings reduced - my mortgage is 6 x earnings
Hello everyone, this is my first post and I've had a quick look to check this subject hasn't been discussed before. Any advice would be greatly appreciated. I am currently maintaining my mortgage payments BUT as it says in the thread title my mortgage is 6 times my current earnings having taken a significant pay cut 12…
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Remortgage dilemma
My current mortgage (FTB) comes to an end at the end of the month. It was a 5 year fixed rate 5.63% with Nationwide for £153k on a £175k property. I have been making overpayments over the last year and reduced the balance to £129.5k. I would have paid more, but >£500 overpayment per month incurs ERC's. My focus is to repay…
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Mortgage start date
I am buying a house, the process is on-going and waiting for exchange. Am wondering when does the mortgage starts. Is it from the moving date or xchange? Please help. Thanks in advnce
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Freehold v Leasehold
Hi, I have received my mortgage offer from the Post Office (very good service btw). I told them the house I was buying was freehold (I guessed / assumed), but the survey has come back saying it is leasehold. I will obviously let them know but is it likely to make any difference to them?
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Mortgage offer renewal help
We went through the application process and were given a mortgage offer in January of this year. It was valid for 3 months so we renewed the offer in March, it now needs renewing again but the Britannia are saying we need a new survey now for an additional £500. This seems unfair as there has been no change in the house we…
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How much does it cost to sell a house?
I have a house - well 40% of a house. 60% is owned by a family member (It was done when I was 19 incase I messed up in some way!) If I wanted to sell the house - obviously with their consent, how much would it actually cost, my house is probably worth around £95-100k and I would be looking to move up in the world. So would…
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Dad is selling me a £200,000 flat for £150,00 PLEASE HELP
Hi money people! I need some advice I don't know where to start. My dad owns a few flats and wants to give me a leg up on the market by selling me it a cut price. Would it be easy for me to get a mortgage? I have 10k to put down dont know if this old be enough?? Please I need help !!!!
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Strange construction type
Found a reasonable priced terraced property with a great yield of 8-8.5% yield in Glasgow. I've received Homebuyers Pack and in additional comments it states construction type is Blackburn Permanent III. I can find detail about Blackburn Permanent II which states concrete prefab but I can only find limited info regarding…
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Two AIPs?
My partner and I are are looking at applying to Halifax and Nationwide for a mortgage. We only have a 10% deposit and I am new to my job, though have a long history of employment in the sector I'm in. This obviously limits our options in terms of mortgage providers but seems that Halifax and Nationwide would be options. We…
