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Downsizing and on ESA
Hi - I have had heart failure since 2009 and fought so hard through a tribunal to get on benefits which I hate anyhow. Its humiliating in every way but I had kids so had no choice to fight. I am allowed to work for my former employer for 3 hours a week so receive approx 1000 per year so not enough to live on. everything…
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Re-mortgage application refused. Please help!
Hi I applied for a re-mortgage recently and was refused on the basis of my credit history. This came as a big shock, since I've never missed a payment on any credit in the last 6 years (I've only had one late payment on a since settled credit card in the last month). As advised by my mortgage broker I requested a copy of…
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Shared Equity Mortgage
Good afternoon. Three years ago, me and my partner took out a shared equity mortgage. After three years of saving up to get married we are finally in a position to start thinking properly about the best way to get some of our equity back. At the time, we placed a 5 % deposit down and the builder 15 %. The 15 % loan is…
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Can we get a mortgage?
Can we get a mortgage? House price: £300,000.00 (I live in London) Deposit: £20,000.00 Amount currently saved for extras (Stamp Duty etc): £10,000.00 Income 1: £29,000.00 Income 2: £50,000.00 Both credit scores are currently at ‘excellent’ despite a few past missed payments for both. We are thinking of going through the…
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Cash or Equity deposit
Hi there, My partner and I are currently trying to save a deposit to buy a house in the next year or so. At the moment we are putting all our monthly savings into our current mortgage to try and bring down the interest and reduce the balance as much/quickly as possible. To point out – we also have a safety fund for any…
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Advice on new mortgage
I am looking to purchase another property but with my sister, and I need some advise on how to go about it. I have currently got a repayment mortgage for a 3 bedroom house which was 11 months and 1 weeks ago. This property is residential. My sister has bought a house right opposite my house which is again a 3 bedroom…
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Mortgage Application When returning to the UK
I have been outside of the UK working for the last 13 years. I am in the processing of selling my property in Europe and intend to apply for a mortgage of around 240k for a 280k property. As I have no mortgage in the UK, no credit cards but until shortly before I move back to the UK will not be on the electoral register, I…
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Cancel credit card (not in debt) before mortgage application?
Hello all Does anybody know if it is best to close a credit card account before applying for a mortgage? The credit card is paid off in full each month and is only used to gain some credit history as there was none previously. The card has been used since June this year. Confused as to whether to carry on the card to have…
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MSE News: Women face missing out on mortgages over child support rules
"Lenders' rules on child support mean many women risk missing out on getting mortgages..." Read the full story: Women face missing out on mortgages over child support rules Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Guarantor Advice
Hello, So after a few weeks of looking for a joint mortgage together with the help of a broker, my partner and I are thinking it's not going to happen and we might have to wait a while- I have a tiny default with Orange which I'm still trying to get removed and although our broker believes he could find a lender for us…
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getting a second mortgage - not BTL!
My wife has recently started child minding from home and her "business" is doing quite well. It had always been our plan to purchase another property to do the childminding from and that way we keep our home as our own. The repayments on another mortgage shouldn't be a problem. Currently we own our own home. Valued at…
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mortgages on leasehold flats
What are the restrictions on getting a buy-to-let mortgage on a leasehold flat? Eg is there a minimum period of lease that must exist before they can be mortgaged? Are interest-only mortgages available? Are there restrictions on flats in high-rise buildings? Thanks in advance for any info.
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Buy to let mortgage - age
I'm assuming it wouldn't be possible to get an interest only buy to let mortgage now. What term could someone 57 years old get. If it is only 10 years then the repayments would be prohibitive. Another option would be to add to my residential mortgage which is tracking at boe + 0.89% = 1.39% but I assume it would mean…
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Mortgage first payment
My mortgage completed on 26th Oct, they have taken a payment on 1st Nov for initial interest + one full months payment. Is this correct? I thought it would been on 1st Dec. Or just the intial interest now, then start monthly payments in Dec. How can they take payment for a month that hasn't accrued yet? Surely it works in…
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Mortgage Advice for a FTB who cannot overcome a barrier!
Hi All, I am looking at buying a property as a first time buyer. Iam 25, have 1 child, have had my own business for 6 months short of 3 years, I alsowork in a school and am in 2nd year of University. My credit score is fantastic with no defaults, CCJs and I havenever been bankrupt. I have applied for 3 different mortgages,…
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Ltv
Quick question about LTV. If we agree a sale price of say £179,995 for a property, but then the mortgage valuation comes back saying the house is worth £200,000. Would this increase our LTV ratio? Just asking as we have seen a property on sale for the above amount, however I am certain from previous house sales that the…
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Aegon mortgage endowment terminal bonus
Hi to all you knowledgeable people, our 25 year endowment policy with aegon (Scottish Equitable) has just matured and the terminal bonus applied. We had received a letter in August to state the projected payment would be £68217.50 subject to market fluctuations. The policy matured I believe on 14th October and we received…
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Vodafone admin error default and mortgage application
Hello, I cancelled an account with Vodafone in February but a few months later realised payments were still being taken from my account. I phoned Vodafone who apologised, refunded my payments and assured me the account had now been cancelled. At this point I cancelled the direct debit. In October I received a bill from…
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mortgage protection insurance?
Just exchanged and now thinking about insuring my income as it is the largest of the two. Do people generally tend to do this or just get life insurance? Critical illness cover seems pointless... Why pay for something that will only pay out for a few things? Thanks everyone
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Charcol mortgage brokers
How do people rate John Charcol mortgage brokers? I had a very positive conversation with them about our rather complex situation and am thinking of using them. Not a bad situation as in credit rating and income all good and low usage of available credit but more that the structure of our outgoings and income is complex.…
