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Halifax Affordability
Hello, anyone know when more details on MMR affordability criteria will become available from Halifax? I'm aware of the press release last week, which is very general, and that Halifax will be processing MMR-compliant cases from 14th April.
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Mortgage term question
I’m looking to get 80% LTV on 25yr term but learned if I go for 20yr term with Halifax I could save 20k on interest! My plan was to overpay making it total £1,200 mortgage paid to bank so no diff with whats left over to put away in my rainy day fund. Right now I pay £610 on rent, on 25yrs term mortgage would be £702 and on…
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Advice needed... sell then rent / buy? Dont sell? Confused :(
Hey all, in a bit of a muddle on what i should do, wondering if anyone could point me in right direction... So bottom line... im looking to sell my 3 bed apartment (2 story) in the South East (just outside of Windsor/Ascot). I currently have a mortgage of £158k (purchased for £175k) which is on interest only against the…
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Struggling to find offset mortgage for term that meets criteria
Offset mortgages that last the full term seem thin on the ground, this seems odd to me, as why would you want to offset for only a few years? I fit in to the 65% LTV category (just), and will shortly have a lump sum equivalent to 55% of my mortgage. I have explored Santander, but I am not happy with the rate and you have…
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Providing credit reports to broker
Hi all, Quick query for the brokers: when we approach a broker to get us a mortgage (we have a very straight-forward situation and are just using a broker for ease) will they ask us to provide them with our credit reports, or is this something they can/will obtain from the CRAs themselves? Or, if we do indeed have a very…
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18k Mortgage, FTB, Property value £24k - is it possible
I am looking to borrow £17/£18K on a mortgage on a flat which has been valued at £24k. The current owner is willing to sell me the flat for £19k for a quick sale. I am self employed, earning approx £35k per year. So far I have tried Halifax who refused and told me they wont lend against a property worth less than £40k.…
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Early Repayment Charge
Hi Hope someone can advise I've got a fixed rate mortgageicon with Nothern Rock/Virgin Money. It's due to finish on 31st October. I would like to repay it early (Selling house in July) however there is an early repayment clause. This is where it gets annoying mortgageicon payments for July - Oct = £2000'ish Early repayment…
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Cash in endowment?
I have a with profits endowment policy with Prudential due to mature in January 2020.. It has a predicted shortfall of £7800 from target amount of £29000, at %4.5 predicted growth. If I leave it to mature it will only have made £2200 in 25 years.... I have already paid off the mortgage.. Should I leave it in place or cash…
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First time buyer help!!
Hi, I'm a first time buyer and all in all i'm a bit lost with how it works!! We've had an offer accepted on a house, the mortgage has been fully agreed, the solicitor has carried out all of their checks and now we're waiting on the surveyor check which is being carried out today. I'm just not sure what happens after the…
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Chances of getting a mortgage and when to apply?
What are my chances of getting a mortgage? I have a default which is due to come off my file in October and a 25% deposit on a 60k house. When should I apply for a mortgage?
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Overpayment Advice
Hi Everyone, Just recently moved into my first house, read up on the guide here etc but one area that I am confused about is over payments to the mortgage. will try to explain with examples (not actual figures); I currently pay £500 a month mortgage at a fixed 3.5% over 25 years Looking to remortgage and my understanding…
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90% LTV, Is this possible?
Hello there, first time poster who would appreciate some help. No other debts, no late payments in the last 3 years. I think I had one late payment 4 years ago which was a day late and a stupid error on my part. I have just returned to work from maternity leave. The debts are being paid down regularly- these are legacy…
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Would I be eligible if I saved nearly all my income due to living with my parents?
(I detailed my general situation in the Housing subforum but wanted to ask about mortgages specifically) In summary: I lived with my parents until recently (my late 20s). They left the country and I started living with friends. My family is now in trouble and I want to support them but I believe my best chances are through…
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Joint Mortage - confused!
Hi My girlfriend and I have just taken out a mortgage on a property in London and we have parted as she found work overseas. The mortgage has a two year fixed rate with a penalty if we sell before the two years are up. My query and confusion is this: Option 1 - I buy her out now - but I can't afford it. So we sell, split…
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In negative equity/ can I get a new deal?
Hi as title says I am in roughly 50k negative equity and have a mortgage with alliance & Leicester so just on their SVR of 4.99%... Can afford the payments but have very little money for anything else. Has anyone any experience with getting a new deal (I would be happy with half a percent less).. Any grovelling tips I can…
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Mortgage application and credit card usage
So, we put in our full mortgage application (via our broker) to kensington lsat week. I've been stressing about it ever since (we are going with them due to 2 old settled defaults from 2009). They've sent over several forms including a monthly spending breakdown, which is fine as we keep a budget but I'm wondering if the…
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How long for funds drawdown once all signed?
I'm in the final process of a mortgage on my house. Being self employed for just over a year, it's taken a long time to get to this point. Searches back, and now the solicitor will finalise things with the Halifax. I'm just curious how long now until the funds arrive?
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Getting off a Consent to Lease Mortgage
When we moved house 3 years ago, our house did not sell so we decided to rent it out. Our mortgage lender (Bank of Scotland) advised we could retain our Fixed Rate and get Consent to Lease on that rate until the end of the Fixed Rate Agreement. We put the house on the market during the notice period for our tenant and…
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Way forward after house purchase falling through - mortgage application
We recently had a house purchase fall through. We used a broker linked to the estate agent, which I have now read probably wasn't the best decision. We did this thinking things would be smoother and faster. The purchase fell through due to it not having NBHC or equivalent so abbey wouldn't lend on it, although our…
