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Which lender ?
I read a post on here about a mortgage provider which uses manual affordability as opposed to a full credit check when assessing applications. Does anyone know who this is? I am downsizing and planning on clearing all my debts but my credit history isnt great. I have a decent job and will have no debts and a decent…
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Self Employed and Contractor Mortgage.
I am trying to borrow more money on my mortgage in order to buy a share of the freehold of the building my flat is in. I had been proceeding with a mortgage broker. I earn around 35K, I have 44K left on my Mortgage and I'm trying to raise another 13K. The Broker has told me that because some of my work is short term…
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Fixed Term Contract trying to find a mortgage
Hi, I'm looking for some advice. Me and my other half would like to get a house, we've gone to his father who is a financial adviser for help and he has told us we cannot get a mortgage for over a year as I am 6 months (my probation period) into a 3 yr fixed term contract (which is a long one for my line of work) and my…
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First time buyer student
Hi, My partner and I are currently looking to buy our first home. We are looking at buying somewhere less than £125,000 (considerably less if possible). My partner earns roughly £22,000 p.a. However, I will be returning to university for 1 year in September; for this I will get a tax free bursary of £12,500. I can also…
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HELP! Late payment how will it affect my applying mortgage?
Days before I'm about to apply for my mortgage my phone company have charged me late payment today as they never received payment for March from a direct debit which had been set up (I had recently switched accounts using switching service) and first time I've had late payment in a very long time. Rather concerned now on…
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Affordability Criteria
I'm having issues getting approval for a decent mortgage and am apparently being declined because of affordability issues. I'm finding this extremely frustrating as it is baffling me how they are reaching this conclusion! I've had the same thing with nationwide, hsbc and a couple of others. It is a joint application with…
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Abbey Mortgage Fast Track. How quickly?
My Broker has messed up big time. Without going into detail they have advised they will now try and escalate our application using fast track. If they succeed does anyone know time scales please? If it makes any difference we had a mortgage offer already from them but then needed to change the property details. No one can…
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House insurance companies that allow mortgage lenders to be named as joint insured
Hi all, Sorry for cross-posting, I've also put this in the insurance thread. I am trying to find house insurance for a house that I am due to move into next week. Our mortgage lender, the Bank of Ireland, will only approve house insurance if they can be named as joint insurered/be named as a loss payee of the policy, or if…
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Advice please
I have around 15 years to run on an interest only mortgage with £114,000.00 outstanding. My payments are £391 per month. I also make overpayments of around £400 pm. Sometimes I can overpay by quite a bit more. Would I be better off on a repayment mortgage? I do like the fact that if I find myself very broke that I have the…
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Help with maturing Endowment - unreasonable requests for information from Aviva
Hi - can anyone please advise. I have an endowment policy that has matured. It was taken out in joint names 25 years ago with my then fiance. We married shortly afterwards and then separated 20 years ago and as I was taking out a mortgage on a new home and he wasn't, he agreed to assign the endowment policy to me as it was…
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Converting two properties into one, mortgage company needs charge over both?
We are converting two flats into one house, 50% mortgage on one flat only, evidently the mortgage company need to have a charge over both the properties before we can proceed with the conversion. How much is this likely to cost us I legal fees? Also are there likely to be any issues arising from having one property with…
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Mortgage advice needed please....
This may sound like a silly question, but being completely new to mortgages and buying houses I'm keen to find out the answer... If you are given a mortgage of say £170,000 and the survey carried out by the lender agrees the property is worth that amount so approve to lend you the £170,000. If you then have an offer…
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Abbey underwriting
Good afternoon, We have just got a DIP from Abbey and I was just wondering if anybody knew how they credit score for DIPs? Just worried that something may come up later on full underwriting that will decline the application. There are a few late payments from several years back but none in past year. There is also payday…
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Converting two flats back to one house, mortgage on one flat
We are waiting for planning permission to go through to convert two flats back into one house. We have a mortgage on one flat only (@ 50 % LTV) and own the other outright. On speaking to the mortgage company it seems as though they will have to have a charge over both properties before we can proceed with the conversion,…
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FTB with help to buy part 2 looking for advice please
Hello all Just waiting for a completion date as we speak but wanted to get peoples thoughts. Mortgage is 57000 with a 3000 deposit over 25 years with 5.49% interest. Payments will be 353 but once insurances and service charges etc are added it will be around 450 which we currently pay rent. We are borrowing less than half…
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Help
Good morning all I am likely to received in c18 months a large inheritance of c£275,000. I am looking at buying a house in london at this time for c£400,000. Therefore I would need a mortgage of around £145,000. I earn £35,000 and my soon to be husband £26,500. However, we have debts - currently £17,500 but reducing this…
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Stamp Duty Avoidance
Hypothetically... If I wanted to buy a property which has been valued at 250k on the nose, but the vendor won't sell for less than 265k, and I want to buy it anyway. But the contents are for sale also and have value, perhaps 5k. And the building needs work doing on it to the tune of perhaps another 5k, which the vendor has…
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New Transfer Rate
Hi, I have been offered a new rate by my existing lender with no set up or transfer fee and just wondered what people thought of the rates; LTV @ 85% 2 year Fixed 2.59% (3% ERC) 3 Year Fixed 2.99% (3% ERC) 4 Year Fixed 3.49% (5% ERC) I would appreciate any views as to which rate you would go for in light of the predicted…
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length of employment
Our first Broker has come back to say my OH hasn't been employed for long enough to get a mortgage. He's been employed since May 26th 2013, before that he was a full time student for 4 years. Is there a minimum for how long you need to be employed? I would have thought as long as he was past his 6 months probation then…
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April 26th implications
Are all of you borrowers out there aware that things will get 'bumpy' for mortgage applicants in the next few weeks? You may find you are asked for information or paperwork that was not requested initially. You may find the goalposts moving. If you are going direct to the lender have sandwiches and a flask of coffee handy.…
