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Offset mortgage used as bridging loan?
Hello Moneysavers, I need some advice about offset mortgages, please. We're trying to buy a new house without having to sell our existing house first (which we own outright). In order to do this, we're looking at offset mortgages, which we would essentially use as a bridging loan. Has anyone tried this before? Is there a…
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In Principle Mortgage Agreement & Student Loans
Hi I'm currently in the process of working through Tesco's online application for a mortgage as I need an agreement in principle to place offer apparently?! I've hit a snag though. It asks about loans and whilst I have no bank loans I do have my student loan and am unsure whether I should include it. The fields it offers…
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Mortgage help
Hi All Bit of long one so hang in there :j So currently i have a joint mortgage in my name with my parents we are buying a 3 bed house which they live in and the mortgage is for £100000 which i think we still owe around 80k on. now i currently live with them and im looking to move out with my partner and buy a small 1 bed…
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FTB cash buyer remortgage options
Let's say I buy a house with cash. I've not had a mortgage before, and would be a FTB. Some time down the road I decide I want to get a mortgage - for example, I want to do some major refurbishments, build an extension or simply have another use for my money. Does this count as a 'FTB mortgage' (standard, popular and thus…
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What's the chances
We're currently on a DMP and have been for 4 years :( :( We've had our mortgage with the same bank for 12 years (Nat West) No mortgage payments have ever been missed. My OH company is relocating 50 miles away, rather than travel everyday, we we're think of buying a property closer to the new location. What's the chances of…
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Endowment Shortfall - How to Proceed?
Some general advice needed: Mortgage remaining: £62000, completes April 2016 Endowment to cover £30,000 matures next month, £7,000 shortfall. How to deal with the shortfall: Options: Put £7,000 on repayment between July 2014 and April 2016 at 3.99% Borrow £7,000 over 2 years at 4.7% (not from the mortgage provider). Also,…
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Which fix is best?
Trying to sort out our very first mortgage. We've been offered a 2 year fix at 2.89% or 5 year at 4.28%, both with £1000 arrangement fee. I realise interest rates will go up, but we could really do with the smaller payments to start with, but is the risk too great?
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Natwest - Dreading Affordability Check
We've accepted an offer on our 3 bed and are looking to buy a 4 bed. Current mortgage is with Natwest and only a few months ago entered into a new 2 year deal so don't really want to leave them or would have to pay the exit fees. Before starting this moving process I got an agreement in principle from Natwest about how…
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Possibility of mortgage
Hello, We have 40k to buy a house a couple (aged 27 & 24) and are both in permanent jobs earning over 50k between us...only problem is my credit history (one default (cleared) set to come off January 2016) from when I was at uni. No other missed payments, though. Her credit rating however, Is flawless and she has had and…
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Career development loans and mortgage
Hi, I bought my house last year and am still in my fixed rate period, looking to remortgage next year. Since then I have been giving some thought to my career and the possibility of retraining and doing something more challenging and rewarding with my life. I'm interested in doing a course that runs for 3 years at weekends…
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Help struggling to afford to move
Hi We are in a little predicament and would welcome peoples input We were late comers to the mortgage market and have been mortgaged for 7 years in a 10 year fixed interest only deal. The mortgage balance is currently 145k and we have paid a small payment on this each month to get this down to this I have just changed…
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beginners question about mortgages please
Hi all! Me and my friend have decided that we would like to buy a property together next year (around July 2015). The idea is that we would get a mortgage to buy a 4 bedroom house - both live in the house and then rent the other 2 rooms out to help cover the mortgage repayments My friend is in stable employment (over 4…
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Interest only mortgage question
Have had interest only mortage for a while now. Husband started new business, I completed teaching qualification , worked part time for 9 years and had three children. A few months ago we were going to change to repayment which would have involved paying a 70.00 admin fee. Our fixed term comes to an end in September so…
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Buying a new-built with only Architects Certificate
We are about to buy a new-built house. However we have just found out it does not have an NHBC Guarantee, only an architects certificate. Most likely because it was built by a smaller builder, custom, for a single owner. The builder is now running a different type of business in the building industry. To complicate matters…
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Mortgage express
I'm sure this has come up before but I'm hoping for up to date information. My mortgage is with mortgage express after I was moved there following a merger. They want to get rid of mortgages so have everyone on 4.74% once off any agreed rates. My problem is I can't move as my situation has changed. So I'm stuck with them…
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new mortgage, pay off the stooz?
Hi I am about to sell and buy, and as part of the process am going to borrow a bit more on my mortgage Will my 2 stoozed cards adversley effect me? (about 10k owed) I.E. Should i use savings to pay off the stoozes early or does it not really matter? (I think i have a good cushion on my income versus borrowing request but i…
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libor rate
this is a shot in the dark if anyone knows the answer but does anyone know if the libor rate will go up when the interest rates go up later in the year? thanks
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Remortgage possibility?
Hiya I was just looking for a bit of advice really as I don't get these new affordability rules. So I've been with northern rock for nearly 11 years. Been on their svr of 4.54% for ages but with suspected raises due I'd like to look at fixing. I've found a couple of products and instead of remortgaging for 15 years I'd…
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Mortgage application - proof of freehold
Hello. Just finished my mortgage application with YBS and they have asked me to get proof that the house is freehold. I asked the estate agent to get this from the vendor's solicitor but she was confused and said she hadn't heard of a lender asking for this before. Is this normal? Johnnydon
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So frustrating
Hi We started our app for a mortgage on 14th May through a broker. Applying with the coventry BS. Supplied 3 months payslips each and my P60 that had just arrived. My wife provided her most recent P60 as well as this years hadn't arrived at that point. She is currently on maternity leave and going back to work in October.…
