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Mortgage Help
Hi All, I've going through the renortgage with Nationwide. Received the AIP and they have completed the vaulation which is all ok, they have requested an employer reference and a reference from the companies accountants as I work in a family business which they will have received. They have instructed a solicitor to do the…
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Any point remortgaging whilst waiting to move?
Sitting with my current mortgage, on Halifax standard 3.99%. Our house is up for sale, has been a while, and when we move we'll have to remortgage for the new house, increasing the mortgage. However, while I'm waiting to move, should I remortgage now and get on a better rate? Would probably need one with no product fee and…
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New Mortgage
Hi All Want some advice, I am currently looking to but a new property in the 300 to 400K range. I already have a 4-bed property with about 10K left on the mortgage (worth around £300K) that I am not willing to sell. I have my own limited company (of which I am the sole employee) and my company has earned approximately 200K…
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Mortgage for a FTB with a big deposit, but pitiful pay packet
Very unusual situation- I have a fairly large deposit of 270k thanks to family help, and my salary is 28k. Ideally am hoping to raise 450k. As I'm borrowing less than my deposit this should be a no brainer for the bank, but in fact the amount is limited to 5x my salary which doesn't quite get me there! Is there a…
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Halifax mortgage application
Hello there, I wonder if anyone can help me in my time of stress?!:( I'm applying for a Halifax mortgage and I'm wondering when they carry out the credit check. I have stupidly missed a £20 credit card payment and it has generated a late payment indicator on my account. I think the credit card companies send the info to…
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Mortgage Guarantee
Hi, please can someone help me with the mortgage guarantee scheme that is available in Jan 2014? Will you go through the mortgage lender as normal or will there be a specific 'broker' that you will have to use? Does anyone have an idea of how much the fee will be? Thanks
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Birmingham Midshires Portable Mortgage
A number of years' ago, I took out a mortgage with BM which was portable. 3 years' later, I wanted to move, and on selling my property, I then approached BM to port the mortgage only to be told that I had been sold the wrong product. The long and the short of it was that I was charged £12,000 redemption penalties. I…
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Mortgage application whilst on Mat Leave?
Hi, We're in the process of moving house. Importantly my Mrs is on Mat Leave until the Summer of 2014. We had a meeting with Nationwide yesterday as we'd heard they were the most flexible regarding lending at a woman's full return to work salary. This was all going fine until we produced the letter from her work detailing…
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Evidence - Santander Abbey
Hi everyone, I am going through a broker for a mortgage from Abbey/Santander (FTB). I had an agreement in principle and then was 'accepted' for the mortgage (i.e. all credit checks done etc). Part of my salary is bonus based, and Abbey came back and said they would not be able to lend the full amount requested without the…
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Nationwide and Childcare Vouchers
I'm in the process of moving home and would really like to port my existing Nationwide mortgage (currently 2.5%) and borrow extra to make up the value of our new house. We're running into problems with borrowing enough because of the way they appear to treat childcare vouchers. Essentially, my wife and I each use our full…
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Applying for Mortgage advice
Hi guys - hoping you can help. When applying for a decision in principle I have a few questions: 1) Do they ask for proof of the deposit at this point? 2) If it takes us 6 months to find a house, do they then have to run a credit check again before we buy? If so does that damage our rating? 3) When we apply, if we state we…
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buy-to let mortgage while unemployed
Hello, Can someone please tell me whether it is possible to obtain a buy-to let mortgage while unemployed? I am at present a full-time student, and have no income, but I can provide a deposit of £150,000 towards a flat purchase. I am thinking of buying a flat costing about twice that figure, and renting it out, thus paying…
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Interest only mortgage help please
Hi, In 2006 we arranged an interest only mortgage of 90k through a broker who assured us it was the best option at that moment. so, 7 years later we are still paying it and the capital still needs to be repaid at the end of the term which is worrying us as I only have 23 years of my working life left. I have tried getting…
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Self-employed mortgage/Accountant question
Hi, I will have two years worth of completed accounts by the time I apply for a mortgage but my accountant is being really difficult at the moment so I am desperate to change. He has done my first years accounts and is due to do my second year accounts very soon. My question is whether it would be detrimental to my…
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' Offers over' rules and mortgage application
In Mortgage application process, if I make an offers over the valuation price,how common is it for the lender to lend the exact purchase amount? For example in Scotland,valuation would have been done by the vendor prior to purchase. In the event that I made an offer on a property that has a closing date, and my offer is…
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Coal Report and Getting a Mortgage?
Hello, The property I am interest in has an old mine air shaft within the 20 meters of the property requiring an interpretive report. The interpretive report has words like 'very small risk' and if there was any problems this is covered by the 1991 subsidence mining act which means the coal authority would pay to remedy.…
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Time between paying off debts and applying for mortgage
Hi, I have just paid off ca.£30k credit cards and loan debt last week. This was the only issue on my credit history (just the amount - never missed any payments). How long should I wait before applying for mortgage? I have 40% deposit.
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How much difference does a deposit make?
Hi, I have what I think is a fairly straightforward question. Our financial history has been a chequered one in the last few years. Both me and my wife had good jobs which are well paid, but in the past we had a business which failed, leaving us with a significant (~£25k) of debts (CC and bank loans). We're in the process…
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FTB - Self Employed
Hi, I wanted to find out if it is possible to do a joint mortgage with my husband that is self-employed, but only has one year of tax return. I don't particularly want to wait until April. My Salary is 28k and he has a tax return for 21k, but now earns approx. 30k. we have a 20k deposit. Thanks in advanced for any…
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Mortgage
Hello, i hope someone can give some advice. We recently purchased and completed on a property we paid in full for the home no mortgage, we are going to do it up and have found that we could do with some extra finance in order to do this. We moved in a month ago. We paid £500000 and we would like to borrow £50000 over 10…
