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Extend mortgage using equity
Hi all, We have a good bit of equity in our property (approx 200k on a value of 300k). I've recently set up a new company and my partner doesn't work. We'd like to extend our mortgage to finance some home improvement work but not sure if it will be a problem that neither of us have provable long-term income. Rookie…
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Mortgage advice needed
Help needed as I am very confused. We have a buyer for our house and we have found a property to buy, put in offer and was accepted. We are using sequence mortgage brokers but I am worried. My partner earns 83,000 NET and we have a 15% deposit. Have copies of our credit files, showing one late payment on mortgage in last…
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First Time Buyer - Buy to Let?
Hello, I'm looking for some advice regarding purchasing a BTL property. I'm 29 and work as a school teacher on £27500, I was made redundent from the RAF a few years ago, so have a sizeable deposit (total 50k+). I live in a subsidised property owned by the school, which is a large house I share with another teacher, for…
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Raising mortgage on property owned in unequal shares
Hello I currently own a property with my sister as tenants in common with a 50/50 split. I am looking to raise a buy to let mortgage against the property for approx. £39,500 to give my sister in order to change the split to 66/33. The property is valued at £235,000. This is a second home for us both as we inherited the…
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First time buyer poor credit advice needed
Hi, just looking for some advice. I earn 35000 a year and my husband earns 29000. I have credit cards of about 7500 and my husband has about 13000 credits cards. We have a deposit of 20000 pounds and are looking to get a house valued about 120000 so about 85% mortgage? I had an arrangement to pay about 2 years ago for a…
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Mortgage on New build - Help to Buy
Hello, My friends are looking to reserve a plot on a new build which will be ready to move in neXt December. They are selling their current home with help from Taylor Wimpey using the easy mover option, so basically looking to pay up their own mortgage and move out of property between April-June. They have been told the…
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First time buyer Northern Ireland
Hi guys Im a total newbie to this :wave: Im a single guy living at home with parents saving to buy my first home. I'll be 30 in the next year and am in a permanent job paying £20,000 pa. I have £14.5k in savings and on target to have £20k saved by this time next year. I have 1 credit card which I clear every month and have…
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Can Anyone Answer A Few Questions
My nephew is wanting to try and buy a property he 33yrs works fulltime with salary of £23500 plus a bonus which varies each xmas. He still lives at home with parents has no dependants but does have some debt. He has a bank loan of £14000 and £2000 on a credit card. He has one late payment in the last year to a store card…
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Does personal debt affect a BTL mortgage?
Does personal debt affect getting a BTL mortgage? We have 25% deposit and the rental income more than covers the mortgage payment.
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Which way to turned, desperate and worried.
I have the following debts Tracker Mortgage - £76,000 - 21 years left - 1.74% Reserve on mortgage - £13,000 - Term of mortgage - 4.99% Credit card 1 - £2300 -£100 per month - 0% for 24 months Credit Card 2 - £900 - £100 per month - 0% for 12 months Credit Card 3 - £3300 - £150 per month - 0% for 30 months The question is…
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Buying a council property
Hello there all We have decided to 'put in' to buy our council owned house. Has anyone any advice, or things I need to be aware of? Please bear in mind, my knowledge of mortgages etc is zero having never brought a house before
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buy to let question:
I'd rather look silly on here than anywhere else, so here goes: I would like to buy a property to let out. I currently earn around 20k a year, and own my own home outright. I bought it for £215,000 a couple of years ago - it will be valued around there or possibly slightly higher now, but I haven't extended or anything so…
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Need to remortgage to release some equity then transfer to btl
My friend got a mortgage like this a few years ago. Allowed her to put a deposit down on house she was buying overseas while continuing to live in her flat. When she emigrated a few months later the new mortgage was converted to buy to let to allow her to rent her flat out here. We need a similar mortgage for different…
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Small shortfall in endowment policy, but still might be in trouble.
I have a friend whose endowment policy will not pay off the interest-only mortgage which is coming to its end in a few months time. He says that he cannot pay the £5000 shortfall and is unlikely to be able to get a loan from his bank or extend the mortgage because of lack of income at the minute. It looks like he will lose…
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Getting a mortgage as a Discretionary Trust
Hi I've searched the mortgage forum for "discretionary trust", and have also looked on the really useful page on this site: "Picking and paying for the right IFA" We (trustees) are looking to redevelop an existing building at the rear of a plot of land owned by the trust, as well as converting part of the main house (i.e.…
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Question about further mortgage borrowing
Our house is worth approx 200-220K and we have two mortgages on it. A nationwide lifetime tracker currently at the nationwide floor (£86,000 outstanding) and a nationwide fixed rate which expires in Feb (£66,500 outstanding). We are looking to borrow an extra 10K for some home improvements. I am assuming that nationwide…
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Equity release with a difference
I have read Martins advice on equity release - basically last resort. I want to add to some money I have that is getting little interest to my maximum equity release to but a holiday apartment. This would be able to be used by my children and they like the idea. I am 63. Any advice?
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!!!!!! turpin wore a mask !!!!
could somebody please help me with some advice regarding what a bank is allowed to do when a home is repossessed. i lost my home when i could no longer afford to pay my mortgage following the rather messy breakup of my marriage and consequent court battles, i also lost my job but was in the process of becoming self…
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Need a maths wiz to help please
I have two mortgages and am trying to figure out how much I'll owe in Feb 2015. 1st mortgage for £87000 fixed at 5.09% for 5 years finishing in May 2016. 2nd mortgage for £50000 fixed at 4.29% for 2 years finishing in Feb 2015. Can anyone help? I've tried to work it out but am getting confused. :o I know its a long time…
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Moving to (and buying in) London - do we need a London-based Mortgage Broker?
My wife and I are planning to purchase a property in London, although we currently live in Bristol. We have been using a Bristol-based Independent Mortgage Broker and have just been approved for a ‘Decision in Principle’ from NatWest. I was having a telephone conversation with an estate agent yesterday, who expressed…
