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FTB mortgage and new job
Hi I've been in a job for 3 month now. There is no probation period in my contract and I had been employed continuously in a similar role (elsewhere) for 6 years beforehand. Having spoken to a mortgage broker I've been told that due to the recent job change I will be looking at higher rates. Initially I was think ~3.4% but…
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Stay on low SVR or Fix
I was after a few opinions on what people would do in my situation. We are currently on a base rate plus 2% SVR mortgage with no limitations but obviously at some point when interest rates rise it will start to look very poor value. At the minute the best deal we can find for a fix is about 3.09% for 5 years with £1000…
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Plerase help - really need some advice before lawyers apppointment
Hope I am posting in the right place, and some knowledgeable person can help. I am in Scotland. My sister died earlier this year. I am executor of her estate, and POA for my brother-in-law. Her surviving spouse, my- brother- in law (Kevin) is very disabled, but was still living at home with a local authority care package.…
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Can Nationwide halt deal after exchange?
Hi, I have a mortgage offer from Nationwide issued back in February this year, pre-MMR checks. I've not been able to exchange yet for various reasons and it's looking like it might go down to the wire and exchange beginning of August, nearly the full 6 months from offer issue. As far as I can tell, Nationwide would not be…
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PROBATE * MORTGAGE WAITING PROBATE * First time buyer
Ok, so this is my first post. Last week i put an offer in on a property which was accepted by the owner. It is an empty property, and I am a first time buyer & just want things to go as smooth as possible. I put the offer in on the Monday which was accepted, however i got a phone call on the Friday morning from the EA…
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Can I get a mortgage?
Hello, Wanted to get some background knowledge / feeler opinions before I start ringing around. I've recently started contracting (1-2 months ago) and won't be taking a salary this year for tax efficiency. I'm an existing buy-to-let property investor, and am renting-to-live. I'd like to invest in another property - either…
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More than 1 mortgage?
hello! Is it possible to have more than 1 mortgage? I am named on my mum and her partner’s mortgage and this is causing major problems. Been tied to this since 2006. House purchased was £225k, Deposit (my mum’s money) was £50k & Mortgage taken out was £175k. I don’t actually pay anything to this mortgage; I haven’t for 6…
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Remortgage with consent to let
Hi guys, I have a property I rent out with a consent to Let from Natwest. I've let it successfully for 3 out of the 5 years I've owned it. My 5 year fix is coming to an end (oh for a crystal ball, my parents were convinced rates wouldn't stay that low!) My question is do I rock the boat with NatWest / other banks and get…
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How do these lenders stack up?
Hello all, I'm soon hoping to get my first mortgage and intend to get a broker, but want to be a little prepared before diving in. I'm trying to evaluate some lenders who I think are a good fit for me. I'm especially interested in: • How many months bank statements they typically require • X salary they typically lend up…
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Paying mortgage off vs. investing
Hi all, I'm 32 and have 76k left to pay on our mortgage, the house is worth approximately 190k or was when we purchased it in 2007 My partner has just inherited 50k, what we cant decide is whether to pay this off our mortgage and could clear the remainder in a few years and then try and use our house as equity for a buy to…
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Adding name to title deed as a Partner
A rental property my partner used to own was repossessed in 2010 and sold with a shortfall of over £30,000. Now a charging order has been put on our home and its been highlighted that they will request for repossession order etc. This is not the only debt we have and we are financially struggling to put meals on the table.…
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Living with parents - affordability?
Hi, Hoping someone can help me! I'm a single FTB about to apply for a mortgage. I've been living with my parents for the last 2.5 years, saving for a deposit. A lot of these new affordability rules/calculators ask about things I don't currently pay for like utilities, house insurance etc. What should I do when prompting…
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House/mortgage deposit
Hi all, This is my first post and I'm in need of some useful advice please! So about 2 months ago I bought my dream car, I had saved up around £4000 myself, sold my old car for £4000 and took out a bank loan of £12000 (personal loan). The car is amazing and if I sold it now it would be worth 19,000-20,000 as I got a really…
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Nationwide reduced my offer from £100k to £69k
I had a mortgage offer of 100k from Nationwide that was good until October 2014 on a property I was buying at £137k Because of a reduction in my own house price, I reduced my offer by 3k to £134k which the vendor accepted. Nationwide have now inexplicably reduced my mortgage offer from £100k to £69k, saying that it had to…
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Documentation preparation
I am trying to get everything together that I may need prior to arranging for a broker appointment. I have my 3 CRA files & all my payslips etc. My main bank is FirstDirect. I only get online statements from them - will printouts be sufficient or do I need to contact the bank for some original hard-copies? As my primary…
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Extending mortgage term - what will they ask?
I thought I'd use my break to pick your brains, hopefully someone will be in a position to comment. We currently have a 17 year mortgage term with W0olwich. There is a strong chance that our income will drop in a few months and I would like to extend the term while we are still earning our current salaries. A few…
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New Build FTB - Mortgage expire date very close to completion date
A bit of friendly advice please, Long story short - My partner and I have bought a new build off plan. We had been advised around the time of exchange that there have been delays so the new completion date is 2 days before the mortgage offer remains valid till (end of August) Have spoken briefly to MA about this and we…
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2 or 5 year fixed- what to reccommend?
Hi, I am currently training as a mortgage adviser and am having trouble recommending between a 2 year fixed or 5 year fixed. As in the correct questioning that would help with making this decision. Could an Adviser give me some examples of questions which will help make it easier to make an imformed reccommendation? Many…
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Halifax product transfer problems.
Hi guys, I'm at a stage, where I should be able to transfer my Halifax mortgage product to a different one. Since I've lost my job, I have been told that I can only go down the NON-ADVISED route as they don't go through the full affordability checks and simply allow you to switch your product, so long as you don't need to…
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Getting a mortgage using a guarantor
Hi, I'm new here. This is my situation; My girlfriend and I are looking to buy. We have a decent deposit but as self employed artists do not have the considered stability needed to gain a mortgage. The truth is we've been renting in London for 10+ years so anyone who does that we have the ability to pay said mortgage.…
