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Mortgage rejection with large deposit
Hi Martin, I'm hoping for some advice, we are first time buyers with a minimum deposit of £80,000 for a house costing £225,000. My partner has had two defaults one in 2008 and one for £45 last year both of which we were unaware of, this has caused us to be rejected on our application with Halifax and is currently escalated…
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First time buyer - good salary + no missed payment - still can't get a mortgage!
Hi All, I've tried a number of banks to get a 90% LTV (£162k mortgage). Experian rating is 750/999, equifax is 483/600. I have one credit card with a limit of 3k and have had a personal loan for £3k in the past. I've never missed a payment, no negative points on my report. Any tips for getting a mortgage or building my…
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Will I get a Mortgage?
Hi all, I am looking for somone with experiance to advice if I'm likely to get a mortgage. I have fair Credit score with experian ( 765) nothing bad on report Equifax it's fair also with nothing bad on report except they don't see 2 years on my electoral roll (experian it's ok) £22k income 4k overtime credit card with…
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when to put in for mortgage
hi want to know when is best to put in for motgage after starting new job, only have a small mortgage of £43000 and house worth £190,000 house in partners name and will add mine with new /remortgage. any advice would be great ....
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mortgage offer received- declare mum moving in?
Hi My sister and i ended up getting a mortgage for my mum as she is too old to get one and repay it, we have a savings arrangement to repay her debt when she retires. We both intend on living there. my sister during the holidays and myself for the short term. however when we received the mortgage offer it said to declare…
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Advantages in not paying off the mortgage?
Hi MSE-ers, Is there any advantage in not (completely) paying off the mortgage? I've been overpaying the mortgage for a few years now, and am down to the last few thousand and should clear that within the next 3 months (well maybe four given Christmas is around the corner ;) ). Is there any advantage to getting it to say…
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Call credit amend urgently needed
My daughter & her husband are trying to get a 1st time buyer mortgage. Both have good jobs. Two of the three credit checker scores are excellent. Call Credit check has scuppered their mortgage. They have bad debt listed at an address that her husband had rented. They have it listed as Flat 1 & Flat 2. He clearly did not…
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Mortgage application with student account overdraft
I wonder if anyone can help me with this. Myself and my partner are applying for a mortgage but I am wondering whether the lender will question the fact that I have only just managed to get out of my student account overdraft. I finished university at the end of May and it has taken me until this month's wage to clear it.…
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mortgage or rent deposit?
Hi, i am just after a bit of advise really. I currently own my own home but i need to move somewhere with out stairs. I do not have enough monney in cash for a deposit i am relying on the quity in my house. However i am aware that the market is very slow so i was hoping to rent my current home out (i think it would make a…
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Gifted equity, plus some other oddities
Hi all, I wonder if you can help with my current situation. I am currently renting a property from a family member who wants to sell it to me. The property is worth around £175,000, but they would sell it to me for £155,000. My parents would be willing to help with a deposit of around £15,000. This is where it gets a bit…
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Closing credit cards in preparation for mortgage
I currently have 3 credit cards all with about £5000 credit, and all paid off. My partner has 2, same situation. I was going to close the two I don’t use in preparation for a mortgage as I have read that banks are nervous to lend if you have lots of available credit but I have also read that closing a card and reducing…
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Remortgaging .... Should we, shouldn't we?
Afternoon all. After many years browsing the forum, I decided that it's about time I used it. I am after some advice regarding remortgaging. So let me give you the facts. House purchased in July 2010 for £122k deposit of 15% (£18.3k) on a 5 year fixed deal at 6% then in July 2015 to go onto SVR of 7.99% At the time of…
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Newbie - first mortgage.
I realise I'm a newbie but would appreciate any help given. I'm looking to buy my first house and just wondered if it is at all feasible. I have two part time jobs equalling £18,400 per annum before tax. My deposit is £30,000 and I have £15,000 in savings. I've only ever had two loans, both paid in full before the term…
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Appeal?
If your refused a mortgage based on a late payment history but in the mean time the company which the late payment agree to remove them and update you file can you appeal against the decision? x
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Nationwide "ported" Mortgage - drawdown facility removed without warning!
We have had a mortgage with the NATIONWIDE for over 20 years with a drawdown facility. Having paid over 100K lump sum into the mortgage about three years ago we 'ported' the mortgage to move house a year ago. We checked at the time of arranging the 'new' mortgage that the reserve remained as we needed to do improvements…
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Remortgaging help need
Hi, I currently am on a life time fee free tracker with HSBC. It is pegged at 1.99 above base rate (so 2.49). I bought last year and the remaining balance on the mortgage is £170K. The property is worth circa £420K. I am convinced rates are going to go up towards the back end of 2014 (just my opinion obviously) and am…
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which will affect my mortgage amount more??
Good Evening, To cut a long story short, I have to remortgage my home in June 2014 as a single applicant instead of a joint application. I'm sailing quite close to the wind on how much the lenders will give me based on my single salary - it would be fine if I didn't have any debts, but I do! I won't be abe to clear all the…
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Stick with huge mortgage or downsize
I haven't posted before but I am in a real dilemma. I read the posts all the time about saving money to cope with my existing budget. I have a very large mortgage on a beautiful house in a brilliant area. I live with my two children and I work full time. My mortgage will only be paid off in 27 years..making me 69 then! I…
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Single mortgage application with spouse having poor credit history.
Hi..wondered if anyone could help me. My husband and I are in the process of buying a property only due to my bad credit history we decided that he should make a single application. He earns good money and we have a reasonable amount to put down as deposit. a mortgage in principle was agreed initially and since then the…
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Poor credit rating - remortgage
Hi My husband and I have never defaulted on any credit, but due to the high amount of credit we have, we have low credit scores. We have just had a child and are looking to remortgage to consolidate everything into a manageable repayment. We need a 80% mortgage and have been refused by our current provider, NatWest. We…
