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First Time buyer, Poor Credit Rating & in the UK less than a year
Hi Guys. I've been trawling through the forum to try and find some posts that are in a similar situation to mine own but haven't been able to. Any advice or guidance offered is greatly appreciated! To explain my situation; I'm single 31 year old male with no dependents and I moved to the UK nearly a year ago from Ireland.…
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MMR Halifax?
Hi, We are FTB and have had a mortgage in principal agreed with the Halifax at the start of April on a 5% deposit. They said we can borrow up to £139,000. We have now had an offer accepted on a house for £100,000 and are looking to go back to them next week for the next stage I am concerned about the mortgage review and if…
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More Mortgage Questions
Hi, Sorry for another thread re mortgage over payments, my husband and I have a few more questions which I'm hoping you may be able to help us with. 1. When your fixed period ends (we're with Santander) can you switch to another bank and have another fixed period or does it have to be SVR? 2. If not, is it possible to get…
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Do I have a chance? FTB/ Debt - Help to Buy
Hi all, First post I have done and I need someones advice on whether I have a chance in getting a mortgage... I have been reading the horrors of the new MMR changes that have come into force this week and I am hoping someone will give me a chance to get on the property ladder. Right so combined income per annum - £62 K -…
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95% Mortgage With Long Ago Poor Credit
I have 3 defaults from the recession days and a job loss. They are 3k, 300 & 700 all very close to statue barred, and all due to drop off early next year. This will immediately improve my 'rating' I believe. What I would like to know is if anybody knows of any lenders, or any decent brokers, that can advise on 95%…
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Mortgage for a house 300 miles away from work
Hello Forum, I'll try to explain my situation in short, hope you'll understand. Me and my wife are looking to move in the beginning of 2015. We live in Derby, and plan to move to Glasgow. We both have a job, 24k a year(48k together). We run a small business, and by the end of current year it will be earning 2k a month in…
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dmp and remortgage chances
hi everyone my husband and i are in a dmp with payplan, paying £145 a month. we want to remortgage. what are our chances? house value £145000 mortgage £85000 equity £60000 income £31000 pa my husbands credit files show nothing, just clear, defaults have dropped off as they were 6 years ago. mine shows 2 defaults 6 years…
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Mortgage and career break.
Hi all, First post so sorry if it is in the wrong section! I am a FTB, and on a 3 year mortgage. My current mortgage comes to an end in July 2015. I am looking to go on a years career break to have a think about whether I want to stay in my current job or not. As I am looking to go to Oz, I can only get a working holiday…
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Mortgage acceptance - help please!
Please can anybody offer advice. I have had an offer on a house accepted and are going for our formal interview/application with hsbc next week. I have read a few posts from people staying how stringent hsbc were and wondered if anybody in similar circumstance or who has professional knowledge could offer opinion. Here are…
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occupier consent...help!
Hi, Myself and my partner are buying our first property together and we are almost at completion stage. The mortgage and property is solely in my name due to my partners lower income. He has recently been asked to sign an Occupiers consent form...I understand this is to consent to leaving the property and wanting no…
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mortgage overpayment or pension plan?
hello, sorry im a newbie and this may be a really dumb question and in a completely the wrong place, forgive me. My question is "should I overpay my mortgage or set up a pension as I don't have one? which should I do first?" Thank you in advance
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Advice please
Hi everyone Just looking for some advice Me and my partner applied for a mortgage begining of March and had the formal mortgage offer 10 days later. We are currently waiting on solicitors before exchanging but im wondering if the new mortgage affordability rules will effect us? Our mortgage application is with Nationwide.…
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Remortgage Valuation
Hi all We've just bought a house for what we believe to be considerably under market value. The house was a cash purchase. We are hoping to release all, if not the majority of equity via a mortgage based on the true market value of the property. We are confident the lender's valuer's enquiries with local agents will…
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Advice on paying down mortgage
I have a mortgage in 2 parts..£55k at base plus 2% for term and £25k at 4.64% fixed until Sept 2016. My minimum payment is £761 per month. From Sept this year I will be able to overpay by between £500 and £800 per month. I am allowed to overpay by 10% on the smaller sub account with a 3% fee for amounts over the limit. I'm…
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MMR -new rules
Is MMR based solely on disposable income. if applicant is SE and has 5-10k going into a savings account per annum then application is decided on that?.(obviously other bank accounts would be look at for consistency) Are payslips/certified accounts no longer the be all and end all
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changing from resedential to btl
hello I was just wondering if I can change from a residential mortgage to a buy to let with a different lender basically own a property with a value of around £175 000 with a mortgage with Santander of £80000 I am looking to converting to a buy to let but I don't think I would qualify with Santander because of earnings am…
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Mortgage app submitted 17th April. Will new rules affect it?
Submitted full mortgage application to Natwest on 17th April via a MA. Will the new rules mean we have to have a lengthy interview? I don't think it will affect the borrowing as we got AIP for £215k and only want £150 - I'm more concerned about it delaying the process. Thanks.
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Should I Buy Now, Or Hold My Horses?
Although I'm on a low wage I've been assured by a mortgage broker that with my realistic expectations of the property I can afford, my deposit and the affordability calculations they've undertaken I should be able to obtain a mortgage that would still be affordable even at 12%. Which, given how much I'm paying in rent and…
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Been through MMR and survived
Had my full mortgage application through Natwest today, for help to buy under the new MMR application, it wasn't nearly as bad as I expected. Minimal questions on outgoings, just a quick check through my direct debits each month, and the stress testing was straight forward as I went for a 5 year fix. Main issue was that…
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Adverse mortgage also inter family/concessionary sale?
My Mum is considering selling a house to my brother, but he has a fairly recent CCJ, last year I think (long story, his girlfriends fault not his, but its on his record). He doesn't have a deposit but Mum would be happy to let him have it at below market value to use the equity as his deposit. But having done something…
