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Taking equity out of the house/mortgage
Hi, we currently have a few debts were wanting to pay off. A financial advisor said we've got more equity in our home than other people our age and the best and cheapest option would be to re-mortgage and use some of the equity to pay off the debts. Having looked on HSBC website (our current mortgage is with them), we can…
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Offset mortgage wasn't linked to an account
Hello I would just like some advise. I opted for an offset mortgage a year ago and I asked my mortgage advisor at the time specifly if i needed to open a seperate offset account with it, my mortgage advisor told me at the time any account with the bank would be sufficient for this. My first year statement came through last…
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Mobile Home
Hi on here trying to help a friend. Has had messy divorce and come out with no money. Would like to purchase a mobile home but cannot get a mortgage on one with the £10,000 deposit she has as needs to be 30% value and minimum of £65,000 purchase price. Can anyone suggest another way of raising the cash without paying…
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Chances of getting a mortgage
Hi, My partner and I have just had a mortgage promise from Halifax. We have a great LTV (mainly due to my partner's savings over the years) of 70% for the property we're looking at. We passed Halifax's initial soft searches with an 'A' apparently. My only worry is that I have a 'thin' credit file. We realised this might be…
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Is it safe to apply for a new credit card at this stage of mortgage application
Dear all, I'm after some advice. I'm fully aware that you shouldn't apply for any credit during a mortgage application but am wondering what your thoughts are on my scenario. My mortgage with Nationwide has now been agreed in priniciple and also agreed subject to valuation which is taking place next Weds (11th). They…
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Surrender Value
Hi, If the policyholder dies before maturity date of endowment policy is the payout the surrender value at time/date of death or previous premium payment? Also, do you get an option for payout or paying off the rest of the outstanding mortgage? We have been paying the mortgage for 20 years with 3 years remaining until…
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Support for Mortgage Interest (SMI) questions
Hi everyone, I am hoping someone can help with this, as I have found the CAB to be not much use, and impossible to get someone at the job centre to answer the phone! I am currently getting divorced, and moved out of the family home with my two children into rented, as my ex refused to move out. I had previously given up…
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Standard Life Endowment and MEP calculation
My 25 year £30,000 endowment ended on the 1st September 2013. I learned several things that maybe of use for people with them still to mature. If you sign up online to monitor its value which I recommend, make sure you take screen grabs as you go because once it matures it all disappears as though you never had one. As…
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mortgage self employed/defaults
I am self employed and have been for 11 months, I work as a courier for a large company. I have 3 defaults which are around 3 years old nearly, no missed payments or any problems since. I might be looking to buy a house for around 100k and would have a 50k depoit, I'm guessing i would need to use a broker, with a deposit…
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Can I cancel my estate agent? 7-day rule?
Today I went into my estate agent's office and signed an agreement to let them sell my flat. I agreed to pay 1.5%, which will be just over £6k inc VAT. Hours later another agent I had previously spoken to called to say that they have a promotional offer in which they're listing properties and asking for no fee whatsoever,…
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Sole trader mortgages and underwriters
Hi All, I was looking for some advice regarding mortgage underwriters. I'm a self employed sole trader. My mortgage provider requires two years accounts and will average the two. My problem is that the mortgage amount is based on the net income. My 2011/12 net income in my certified accounts was £20700 but on my inland…
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Advice on getting mortgage for BTL 2nd house
Hi All Just wondered whether anyone can help me. I have a house I purchased in January 2013 via auction. I affectively purchased it for cash although my sister lent me £60k to purchase it. The plan was to renovate it and then remortgage after I'd owned it for 6 months. The problem I have is that it is a listed house and it…
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Renting out a room
Hi, We are just about to buy our first flat, and were planning on renting out one of the rooms to a friend. I've looked into the rent a room scheme and that all looks fine, but I was wondering since we won't have a buy to let mortgage, how likely is it that the mortgage company will kick up a fuss? Our mortgage will be an…
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Help how to get mortage in future if on Debt Mangement Plan
My partner is on a debt management plan which frozen interest on £17k. His credit score is poor; but he has recently added his name to electoral role. He works in same job for many years. His debt was due to failed business. My credit score is perfect; but I don't work as a stay at home mum to young children with one…
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Council licensing of buy to lets
I offer this post in the hope it may help some buy to let investors (and brokers) avoid a growing pitfall. Back on new years day in the early hours I heard a Radio 4 item on Newham Council becoming the first in the country to insist on licensing all BTL properties in their bailiwick. As a result of this I published an…
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resolved - mortgage porting / redemption
We are selling our flat and moving to a new house. We are porting our exisiting mortgage across, so say we still have 25K left to pay off on our existing mortgage and (say) we are borrowing a further 100K to buy the house. We have had a statement from our solicitor that states we must pay a bank transfer of 25K to "redeem…
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Transferring mortgage to repayment
I would like to transfer our mortgage from a part repayment/interest mortgage to full repayment with first national (now GE) Will this involve a further credit check? Have had mortgage with them 8 years & never missed a payment We have passed affordability calculator with them. Mortgage was with first national due to…
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Any help or ideas please
Hi, the situation is this, We have come out of the fixed period on our santander mortgage where the payments were £729.29 per month, we have never missed a payment on the mortgage in 5 years of paying this. We currently owe 105k and the property is worth 185k, I earn £33000 and my partner is just starting uni we had quotes…
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Confused With Remortgage
Hi everyone I will try to keep this as short as I can. I am recently divorced and part of the consent order was to transfer the mortgage into my sole name. My current lender The mortgage works are no longer funding so that was a non starter. I decided to pay a visit to a broker in an Estate Agent, I realise now that this…
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Longwinded endowment question:
Bear with me ;) We currently have a £39k mortgage, which is part repayment (£9k) part interest-only (£30k) which has 9 years left to run. Our endowment is currently valued at £15k. Mortgage APR 2.5% We're currently on the market and I'm planning on spending an extra £60k (initially at 2.79% then 3.99% after 4 years) We can…
