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Mortgages & endowments

Archives for March 2014

remortgage a gifted house..
Here is my dilemma: I want to buy me late grandmothers house rather than it going on to the open market due to sentimental values. We have been advised a way in which to do this so I dont need a deposit to get the house, here is what we have been told.. get my mam and uncle to gift me the house with a charge against it…
Seen dream house, old flat about to go on market - deposit needed advice please?
Hello! Thanks for reading. So - we need advice on how to or (whether to) try and find a deposit for buying a new house whilst we've the 'old house' almost ready to go on the market. Some details. We live in Scotland - not sure if that matters. The old house (flat) has c19k left on the mortgage - approximate value on the…
Do mortgage brokers have specialisms? Potentil tricky affordability
I took out an Abby mortgage over a 33 year term late 2012 with the intention of living here for at least 10 years. I am on a portable tracker @ 85% LTV. I am moving further North so an equivalent property is about 40k cheaper so in an ideal world I would like to try to port the mortgage rate to my new purchase. Failing to…
Mortgage Calculator Gross - But I Pay No Tax
I want to work out how much mortgage I can get but the calculator at the lender I want to use (and many others) all want to know my gross income. But my gross income is the same as my income because I don't personally pay any tax. My income comes from a below threshold wage, and dividends. Dividends are taxed at source.…
Countrywide
Does anyone know the best way to shame a company who have lied and completely pushed my complaint under the carpet? I am unable to go to the ombudsman as I have a buy to let mortgage. I would like to know who would be interested in my story? Thanks Danielle
Santander mortgage processing nightmare!!!
Hi All, My husband and I had an AIP approved on 7th March and our application was fast-tracked with no further docs required! Our full application was submitted on 12th March by our broker and we still haven't had a valuation booked!! Our Vendor is threantening to remarket this Friday!! Santander has come back for further…
Second Mortgage??
Hi, I am looking for some help with understanding how a second mortgage would work and the lending criteria. There is very little information online for this! We own a property worth approx 550,000 with approx 30,000 to pay back on the mortgage. We would like to purchase a second property to refurb and sell. We do not have…
Surveyor Undervaluation
Hi, Cutting a long story short. I need to unlock equity in the form of a second charge, from my property, as the perfect option to resolve short term financial difficulties. Marketing valuations from several estate agents, all the on-line pricing tools and price index sites state almost the same value. A perfect amount to…
First time buyer - 20K mortgage
I am a first time buyer looking for a small mortgage of only £20k. Is this possible? It seems every website I look banks want to lend larger amounts. Does anyone have any experience of a small amount?
Bankrupt Partner
I'm in the process of selling my house and moving in with my Girlfriend and her young daughter. We would both like to buy a place for ourselves rather than rent. Two years ago my Girlfriend declared herself bankrupt (before we first met). Does anyone have an idea what limitation this would have on us getting a mortgage?…
Overpayment translation
Hey I've just remortgaged a £167k loan, and want to make overpayments on my new arrangement. I'm confused a bit by the language used in my new mortgage. Per the T&Cs: "Overpayments are permitted on this mortgage. A lump sum overpayment can only be made by cheque and is any amount that you pay to us in addition to the…
What Now?
This isn't my first property purchase, but it's been 6 years and we didn't use a broker last time... We are using a Broker and on Tuesday last week our application was put in for a mortgage with Woolwich. On Wednesday I emailed the broker just to check it had gone in and he said it looks like the initial credit check had…
Taking My Name off a Mortgage
Hi. Can anyone tell me the procedure for taking my name off a joint mortgage with my x wife? I have recently been able to pay off all my depts including a loan that was secured on the house in just my name. I have no outstanding depts in my name attached to that house so i now want my name taken off the mortgage. My x wife…
Bridging Loan from parent
Hello, I was just wondering how mortgage companies will view a bridging loan from a parent? This would be paid back following the sale of my own property. The bridging 'loan' would be £180,000 and the mortgage I would need would be £40,000 (this would be my first mortgage).
Discharged bankruptcy friendly mortgage lenders
I was discharged in April 2011 and have been rebuilding my credit file using a Vanquis Card. I have also done the post bankruptcy clean up and now only have 2 defaults left to be updated. I have a mortgage with Santander and have never missed a payment, repossesion wasn't an option due to negative equity in the property. I…
Advice re: deposit amounts
Hello I am in the process of saving for a first property with my wife, and we have been planning to get a mortgage with a 15% deposit on the value of the property. However, we're at a stage where we want to buy, and lowering our deposit to 12-13% would help us get to where we want to be, quicker. The monthly payments don't…
lowermybills.com ..reliable ?
Hi Is the lowermybills thing on experian any good ? What I mean is, if it comes up with a list if mortgages available to me can I rely on it or is it as worthless as the credit score ? Thanks in advance x
self employed or not and what are our chances?
My husband has been self employed for a couple of years and his business has made a small loss in both years. He has not drawn a salary in that time. He has now secured investment in the company and will be taking a salary of £50k and going PAYE (part of the rules for the investment that he has to do this). I work 3 days a…
Please help me choose a fixed rate!
Hi all We are just approaching the end of a 5 year fixed rate of a whopping 5.59% which was on part repayment and part interest. I do not want to make any mistakes as feel we have paid way over the odds for the last 5 years barely making a dent on our mortgage. Santander who is our lender has offered us the following rates…
Overpayments on a repayment fixed rate
I was told by my bank I can make overpayments of up to 10% of mortgage a year. They said it does not reduce my total mortgage amount, therefore not reducing the term but instead it reduces the next monthly payments I make instead. Seems a bit pointless or am I missing something? It's not really an overpayment to help…

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