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Buying house - half mortgage / half owned
Hi all, My partner and I are thinking about buying a house together. I have approx. 50k in cash and he has enough saved for a small mortgage. Is it possible we could buy a property for 100k, I pay 50k and he has his share mortgaged just in his name? I ask as I have a bad (but improving) credit file, and he has a perfect…
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New mortgage or re-mortgage?
Hi all, I am in a position finally to be able to pay off the remainder of my mortgage. We are planning on moving in the next few months, in fact a potential house has come up for sale this week. If we were to proceed with it, we'd need a new (but smaller) mortgage still. I am not sure if it's better to pay off the mortgage…
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Divorce and new mortgage
Hi, Just wondered if anyone knows if it is possible to obtain a new mortgage on an interest only basis until the financial settlement is sorted? I'm finding it increasingly difficult to live in the family home while trying to get my husband to agree to a divorce and desperately need my own space to keep my sanity. The…
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Mortage flat to decrease LTV on house?
We have a flat that's fully paid up, valued at about £250k. We are now looking to buy a house for £320k, and have about £60k for a deposit. We'd like to access some of the equity in our flat (via a 60% LTV mortgage on the flat) to increase our deposit for the house to get us a 60% LTV mortgage on the house. Neither…
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Mortgage offers in Scotland
Hi there, First post on MSE so sorry if this has been asked and answered previously.. I am currently buying a newbuild home in Scotland under the "help to buy" scheme I have had my mortgage promise and mortgage offer approved months ago. My "help to buy " was approved at the same time. And missives have been concluded we…
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What does the new MMR system mean for getting an agreement in principle?
Apologies if this is the wrong forum, or if this has been posted before, but I am confused about what the new MMR means for agreements in principle. We currently have our house on the market and are actively looking for another to buy. We saw something we liked yesterday but I am confused about how to make an offer (that…
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Understanding Lending criteria
Hi all I am wondering if there is anyone who can help me understand the lending criteria for mortgage lenders. If you see the following statement "No arrears on any current or previous forms of credit in the last 3 years, where the cumulative amount overdue exceeds two monthly payments" what does this mean? If on a credit…
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French mortgage for property developer
I'm a property developer here in the UK. I want to buy a property in France as an investment for my future (I want to spend some time there/let it out some of the time to help with the mortgage). I'm finding it hard to get a French mortgage, as the French lenders I've come into contact with won't lend to property…
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HTB.....equity loan vs mortgage gurantee??
If you are buying a new house with a 5% deposit......which is the best option for actually securing the mortgage? Equity loan? Or the mortgage gurantee? One is 75% ltv while the other is 95.....I am presuming the 95% is more difficult to achieve but is my presumption incorrect?
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New rules for how much we can borrow?
Hi to everyone. We will be remortgaging to remove my ex husband from the mortgage and for my partner to come in on it at the end of June/July. We can't do it until then as my partners bankruptcy doesn't come off his file until 18th June. We have already seen a broker about a month ago who said Halifax are our best bet as…
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Advice needed
Due to issues beyond our control and living a house we have had to offer 5k more than our original accepted offer and mortgage application and hence valuation that values house at 120k not the increased 125k. We need to find is additional 5k ourselves. We have in savings 2.5k of it, our question is will there be a problem…
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Rate Change after Mortgage Application
About 2 weeks ago I submitted by mortgage application to postoffice and paid for a valuation/homebuyer report. Opted for the product fees to be added to the mortgage so didn't pay anything upfront for that. The mortgage application is being processed (all documents requested submitted, valuation arranged etc) but no formal…
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Mortgage Application Query
Newbie Alert so please be gentle ... Last week my partner and I made the full asking price on a house that we both fell in love with as we were not prepared to lose it for the sake of £5k under the asking price. Offer was accepted. The vendor wants to progress quick quickly, we are happy too as we are in rented…
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Solicitor Blunder!
Firstly, apologies if this is posted in the wrong forum; I'm not sure where to get best advice. We're currently in the process of buying our first house. We have a mortgage broker; who is amazing! Everything progressing well and we're almost at completion. Today, however, my partner received a phone call from someone he…
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Post office as a lender
Do you do it alone or go via a broker? They have 5 year fixed for 4,75 no fees! Repayment on 135000 of just over 705£. Much better than our broker got us of repayment just over 600£ on same fix for 112000! Right? The online calculator says they will offer 190k! Way more than we want. And 700£ is very affordable it's same…
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How do I work out how much equity I'll have next year....
We took a mortgage out last year. 165k house, 25 k deposit, so borrowed 140k at 3.39% which makes monthly repayments of £648, over 27 years. I am not sure how to work out how much we will have paid off the debt after two years when we will look to remortgage. I know payments are more interest biased at the start. I am…
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Non standard construction
Hi everyone Just looking for some advice We are currently purchasing a non standard construction property, nationwide valuation complete and mortgage offer issued 2 weeks ago. Our solicitor have wrote to us to say that the mortgage valuation showed the property being non standard construction, and that we may find it…
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halifax rates
Hi just looking at their retention rates and looks like they have gone up by 0.2%. What is the reason for this ?
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Mortgage/House question
Hi guys, my father and his partner bought (mortgaged) a house about 16 years ago, he lived there with his partner and two children. They split up late 2011 and my father left the house but continued to pay his share towards the mortgage. He died in 2013 leaving no will. Being the eldest and his next of kin, I sorted out…
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Spend on new house or wait?
We are completing next Friday and we want to but a few things this weekend. We have the cash in the bank to do this so no credit cards or anything involved. Would you wait till after completion or not? I don't want to without a bed or washer for more than a few days so want to get spending! They will only check our credit…
