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What are the best BTL mortgages at the moment?
As it says in the title. Looking to buy a property valued at £120000 and I'm wondering what the current deposit required might be, fees and whether to go for fixed rate etc. Thanks.
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Early Repayment Charge
My fixed rate mortgage with The Coventry comes to an end on 01/01/2014. If I were to transfer lenders after that date will I still be stung for the Early Repayment Charge - or does that usually only apply if you transfer your mortgage before then end of the fixed term?
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can I get a 2nd mortgage on pure equity alone?
Hi can somebody advise me a little please, I am interested in buying a property to rent out or sell depending, and I don’t know if it is possible in my circumstances. I have lived and had a mortgage for my house since 1995 and this is my only property. The house now is worth somewhere under £450,000. I have a mortgage of…
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First time mortgage advice.
I've just put in an offer on a building for about 170k. Offer has not been confirmed accepted, they want me to go in Monday morning to prove my income and ability to get the money. I have savings of about 130k. Meaning getting a mortgage of less than 30% of the building value. I am banking with HSBC and got a certificate…
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How long to fix - 2, 3 or 5 years?
Hi forumites, We're in the process of applying for a mortgage to go hand in hand with the Help to Buy shared equity scheme. The house's value is £270k, meaning we need a mortgage of £202,500 to compliment our £13,500 deposit and £54k H2B loan. The question now facing us is weather to fix for 2, 3 or 5 years. As we're…
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Have got 1/4 deposit of how value but just come from a DMP
So here is my story I'm renting a property which is like to buy House value £165,000 I have £35,000 saved for deposit Salary for me £24,000 My partner £19,000 I've just come out of a 7 yr DMP which I never Missed a payment I just had my name taken off a mortgage (broken up With husband) that I paid without fail for 18 yrs.…
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Nationwide
Hi We had a decision in principle with nationwide (through our broker) for a mortgage of 139950 we are going through a PX on a new build for 229950 we will have 90000 equity from the sale of our house ( accepted 117000 from builders). Anyway I'm just getting really stressed and worried with nationwide as the full…
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Confused about "Help to Buy" scheme
I am a bit confused about the "Help to Buy 1" scheme (loan from government). I have a couple of questions... 1) If we used this scheme, with 5% coming from us and 20% from the government, what happens if we want to move in 5 years time? Are we basically in negative equity for the 20%? So we're stuck in that house until we…
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Query regards mortgage based on property valuation after renovations...
Hoping to buy a property at 40k which needs renovation work...have been told by mortgage advisor at bank that I can have the property assessed by a contractor, and if they state that after renovations the property value will be (for example) 55k, I can get a mortgage based on this value (i.e. pay 10% deposit and borrow…
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Failing to get a Mortgage due to Not being Registered on Voting List
Hi Everyone, I'm going through a mortgage broker to deal with the mortgage application. My credit score is fair, I have no default but the only problem is that I'm not on the electoral register. Contacted Haringey and they said their list won't be updated untill February 2014 if I register now. Halifax and Nationwide won't…
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fairly large deposit, low income and credit rating not great...
I have a 55 k deposit, looking to buy a house for around 105k. I'm 21 as is my partner, and our annual income is 22k including tax credits. Our credit ratings aren't amazing, nothing major just the fact we're 21 and not on the electoral roll (although just sorted that). I'm wondering if it is at all possible to get a…
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What Happens After Survey??
Evening All, We're selling our first home; have accepted offer, solicitors have been instructed and the survey is being carried out on Wednesday. What happens after that? We had agreed with the buyer to aim for the New Year to complete but I'm worried this may all be done and dusted before Christmas and we've not even…
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Springboard / helping hand mortgages
This question sounds stupid already as I write it, so please forgive me, but does the helper have to be a different person to the homebuyer? I came across the 'helping hand' type of mortgages the other day (where the helper's savings are ringfenced as a guarantee, but potentially returned in full after X amount of years -…
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Defaults & Temp Contract
I'm just venting my anger... Been in employment for years but currently on a temporary contract. I have 2 defaults from RBS back in 2009 due to my own stupid fault and lifes problems. Have had mortgages in past with no problems and now renting as moved area. Can't get a mortgage anywhere! Even murderers get more help to…
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Getting a mortgage after purchasing parents house as investment
Hi all, advice needed: my brother and I purchased my mums council house straight out of Uni, but I am now married and looking to purchase my own house with the wife. We have £58k left on the mortgage - I'm paying £170/month, and I was just told by a building society that they would not, in any circumstance, give me a…
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mortgage minefield
I'm currently searching out a mortgage. I have had some advise from brokers etc and done a bit of research on line and to be fair there doesn't seem to be a lot in it as far as price of repayments. We thought we'd found the best possible deal (cheapest) but were then advised that the mortgage company were not recommended…
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Does using a help to buy equity loan provide better mortgage deals?
From what I understand of mortgages the more contributed by the borrower the lower the cost of the mortgage in the form of better interest rates. For example a person borrowing £90,000 on a £100,000 property purchase will have a higher interest rate than someone borrowing £50,000 on a £100,000 purchase. If that is correct:…
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2nd Mortgage for BTL - possible?
Hi, I'm looking into getting a second mortgage to buy a property to rent to university students in a city 1hr away from my current home. I currently have a joint mortgage with my partner, to be married next year, and the 2nd mortgage would be joint also. How easy is it to be granted a 2nd mortgage and is there anything I…
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Need to go to repayment - backed into a corner
Hey I'm new on here and I have been thinking about posting for some time ..here goes We are on interest only mortgage £202k and 16 years left - can just about afford 100% repayment (Santander) but will be a squeeze nonetheless it has to happen! My question is that I have £8k credit card debt but £6k share plan so do I A)…
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First Time buyer
We are a first time buyer and had not thought about buying till two weeks back. Looking for HTB - cause rentals are more expensive than mortgage payments. Looking for property around 160-200K Have a deposit of 10k I earn 58K and my wife earns 47K. I will be moving to a new job at the same level in february and so would my…
