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Coming to the end of our current arrangement
Hi all, We are coming up 3 years into our 25 year mortgage term. Our current mortgage is a 5.99% 3 year fixed with Santander. The figures Current house value - £85000 Remaining mortgage at end of fixed period - £68000 (there or thereabouts) I'm caught in two minds over our next product at the moment, I have saw that HSBC…
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Help to buy. Translation
Hello I am just wondering if someone could explain what the following means to me. It has me confused. It is on the Help to buy T and C's. Typically, your mortgage will be based on a multiple up to 4.5 times your household income. Your Local HomeBuy Agent will also work to a guideline to ensure that your monthly costs…
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1st Time Buying Couple Need Advice on £55k mortgage
Hi all Have spent ages reading through the site getting some great information just wanted some opinions on our curerent financial situation. We have been renting together for over 7 years now the cheapest place we rented was £380 and the most expensive was £550 So as an avergae of £400 a month over 7 years works out at…
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Valuation- What do they look for?
Okay, so we've had an offer accepted for a spacious 3 bed house £7000 less than the asking price. The property is a repo and we have been moving fast to reach the exchange of contracts. The valuations in a couple of days. The property will need a lot of work, and my mum has generously offered to gift us some money to fix.…
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First Mortgage - would this work for a deposit?
I know I will need 10% deposit, but would this work. Example, the house costs £50,000 I borrow a deposit from somewhere, £5,500 I ask the lender/bank for £55,000 Buy the house and pay back the loan/borrower The deposit is obviously within the mortgage. Can you ask for more than the house is for sale? or is that braindead :)
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Worried first time buyers
Hi all bet you read many of these posts in the past. Me and my wife are trying to buy our first house together, iv been renting for some 12 years and been paying £400 a month in rent so iv paid around £57k in rent and it will never be our house (make me feel sick lol ) Anyway we got married in june 2012 and she moved in…
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Mortgage Lender and estate dispute
Hi all. Have posted something similar in another forum, but would like more advice re the mortgage side of things. Basically there is an ongoing dispute on the estate we are buying with a management company. They been taking money off people but not doing any work. So the estate is not happy about it. Our vendor has paid…
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Two possible properties - one mortgage application
Hi everyone, My partner and i are first time buyers. We have been looking for a flat for over two years on and off and finally found one that we both love. We made an offer subject to survey which was accepted and are now in the process of waiting for the mortgage evaluation survey. In the mean time, we continued looking…
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Can't decide if we're being silly?
Situation is as follows Mortgage with nationwide with around 6 years left. Currently on a 10 yr fix at 5.69%. House is worth around 150k 76k on interest only, 6k on repayment, total redemption figure is 82k 2 endowment plans in place, one with standard life due to mature in around 4 years for 36k, expecting a shortfall…
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Mortgage nationwide
hello we are applying for a high LTV mortgage we can afford 88% is it worth going in at 88% rather than asking for 90%? anyone got any eperience with nationwide and their lending? Do they have any big no no's on their lending?
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Lloyds TSB mortgage?
I'm about to buy a second house all offers are accepted and going through the legal bumf, we've opted for Lloyds mortgage at 5.1 percent fixed for 2 years then onto the interest rate, we bank and have everything else with them, is this a good offer? we went for 2 years just to get that out the way then see what the…
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Further advance required
We have a £85000 mortgage outstanding on a house worth £175000. There are 16 years left on the mortgage. We urgently need repair work carrying out to the house £10-12K (leaky roof) but don't have savings nor can fund it out of income. We earn just £31 k between us (plus tax credits, child benefit) & have 4 children &…
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First time buyer
Hello, I have a bit of a problem myself an my mother cannot figure out. We are looking into getting me my first house. She has offered to either give me the money to buy the house outright or just the deposit. The money being used is for her retirement and I will have to pay it back to her over 15 years. The house costs…
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Calculation
Sorry I am a bit thick when it comes to maths. I am trying to calculate the value of £4357 before 20% was deducted. Please can someone help? Thank for reading
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First direct big difference in house valuation
My mortgage deal is due to expire soon. A couple of months ago I enquired with first direct what valuation they would put on my property. I was advised it was £174000. I have just come off the phone to them and been told my house is now valued at £161000. Despite my best efforts the advisor kept referring me to their…
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Remortgage self employed less than 1 year
I am employed and my wife has recently become self employed as of October last year. She is a childminder, previously a manager of a nursey having worked in child care for 13 years. Our fix term rate is up next month and we went to our current mortgage lender (Halifax) to see if we could remortgage which would include our…
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Married couple want to buy two properties at the same time - but each owning one
Are there issues with lenders lending only to one half of a married couple ? Say a husband and wife want to buy two properties, not in the same location, but they want the husband to own one and the wife to own the other. Owning without a mortgage is easy but if you require funding, is there anything significant to…
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Re-mortgage and house extension
Hello, Firstly I would just like to apologise if this has been raised before, secondly thank you in advance for any information any of you have for me. My partner and I have recently purchased a property which had planning permission with it. After 10 months we have decided to crack on and turn the bungalow into a house.…
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Ftb needing help
Hi I've seen a property that needs doing but need some help. It's on the market for 55000 however because of the work I was advised to bid 40000 and go from there. When it comes to a mortgage if the property is valued at 55000 in current state and I get offer accepted at 40000 could I borrow more money on top up to…
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Which mortgage companies use Equifax?
I recently applied for a Mortgage via Platform Home Loans. Platform Homes Loans made numerous errors whilst processing my application and declined it. On checking my Experian credit file Platform Homes Loans have left incorrect information including: * Incorrect name aliases. * Multiple search footprints (with incorrect…
