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Mortgage & Survey
Hello We are in the process of selling our house and buying a new one. When you apply for a mortgage, if they were going to turn you down would they still do a survey on the new property? its probably a stupid question but its been 13 year since we moved house and haven't a clue. Our mortgage application is with the…
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Banks refusing to renegotiate existing mortgages
Just tried today to renegotiate our mortgage with existing lender (15 years) as we do every 2-3 years. Have been left totally speechless - thats why I'm writing here..... BOS/Halifax say, but will not put in writing, we cannot afford what we already have (never ever missed a payment) and therefore as the NEW system from…
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Using a credit card when applying for a mortgage
We're probably completing next week- mortgage is approved etc. I'm just wondering if anyone knows if there are any implications in spending on a credit card during this period? We already have the credit card (no debt etc) & intend to pay it off as soon as the bill comes in. Does anyone know? Thanks in advance
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Declined for mortgage 3 years ago due to CCJ
Hi, around ten years ago I got into a debt situation and one particular default led to a County Court Judgement (CCJ). It took some time but I eventually paid all debts back in full and the final payment to these was around 5 years ago. I spoke to a mortgage advisor around 3 years ago and he tried to source a mortgagae for…
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ECB Rate drop - Wrinkle me this batman?
So if the ECB interest rate is -0.15% Surely as we are European members, our UK banks can borrow and turn this low interest rate onto th home mortgage borrowers, i.e. chaeper lending rates? Yes?
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Basic remortgage questions
I bought my first house with my partner almost 2 years ago (some of you might remember me asking question then :wave:) and am coming up to the end of my fix. We're currently in the situation where our credit histories are pristine, our income comfortably covers the mortgage, we don't have any big expenses and our LTV is…
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Mortgage declined, Searches done, In absolute bits :(
Lived at my partners mums house for 12 months while we saved for a deposit, Found our dream house back in March near my dads in cheshire, We put an offer in of 113500 with a deposit of 25k. The mortgage is just in my partners name his salary is 32 k Nationwide gave an AIP, searches were done so we moved into my dads then…
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Property for 280k
I have found a property for 280k that is listed as selling price £280k however on all of the valuation websites they have said between £224k-£255k and I know the seller only paid £230k for it two years ago. Whilst it is on the market for 280, would putting in an offer of 230 be ridiculous?
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Is there a lender out there that would consider us?
Having been a council tenants for many years we've decided to try and buy this house we live in using the councils 'right to buy' scheme BUT I have low income and credit issues in my past. House value is 90K, We've been offered 51% Discount on that price with the scheme leaving 44K to find. We can put in 4K cash, We're…
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[remortgage]When should you start looking (fixed rate ending)
Morning all, When would it be advisable to start looking for a new mortgage deal? My details: Fixed rate (nationwide) @ 5.69% (I know, I know) FR (3 year) ends - May 15 ERC 4% Outstanding £265 Value ~£360 (bought at £315 but have completely refurbed) Currently I'm being restricted by the £500/m overpayment so would like…
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Endowments maturing recently
Hi everyone. I wonder if anyone can help me? I have 3 endowments maturing over the next 12 months. 1 with Scottish widows, 1 with Scottish Provident and 1 with Scottish Amicable... I have been getting yearly updates from these as would be expected but I just wondered if anyone out there has had a 25 year policy with any of…
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Mortgage Declined on Affordability!
Hi Everyone, Looking for some help and advice. I have been through the mortgage application on my own (partner has adverse credit so that isnt an option) We have had the AIP, the full information sent out, Valuation and Survey has been completed & earnings confirmed. We are borrowing £81k with £9k deposit. Only to find out…
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£120k mortgage on £34k income?
Looking at the concept of buying another house. Would be - Property 1 - Value £60k. BTL Mortgage £36k over 15yrs. Previously Let via Consent to Let for 3yrs. Annual income £4680. Property 2 - Value £120k Deposit £36k Residential Mortgage £84k over 25yrs. Estimated Mortgage Costs (@5yr fixed rates) Property 1 = £300 pm…
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Part ownership mortgage renewal help
Hi, I'm hoping for some advice/hints and tips. I'm completely out of my depth when it comes to mortgages, I find the word itself panic inducing and I don't understand half of the terms used or the differences between it all. I'm not stupid, but I get confused as to what actually applies to us and there is A LOT of info out…
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Solicitor change of address
Morning everyone. Very quick question but I have just recieved my second mortgage offer (asked for lower revised offer which has take 5 days) but now it has arrived I've just been informed that the solicitor I have put down have changed their address! Bloody great! Do you know if this will cause a problem at all or will it…
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New builds and mortgages questions
Hi all, I'm currently in the process of looking for my first place to buy and I've been somewhat interested in new builds, however there are some things that I can't quite get my head around. First of all, pretty much all new builds have a reservation period of 4 weeks within which contracts should be exchanged. That also…
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Estate Agent problems
Hi all, I'm a FTB and therefore possibly naive and definitely inexperienced, but i am having more than a few issues with our estate agent and am unsure as to weather these are common problems. First off, i live in the south east whereby it's a bit of a scramble for available houses in my price range. For every house you…
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Supply teacher mortgage
Hi everyone, Looking for advice on getting a mortgage as a day to day supply teacher. Doing this since April and love it, am working 4-5 days a week and getting about £440 before tax minimum. My question is, if I go to a bank and am able to show say, 6 months worth of bank statements with these earnings, what are the…
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Underwriter powers?
Hi all :) been reading these forums for a while now and its time for my first post! Ive currently got a mortgage application underway and I was wondering what powers the underwriters actually have? I know they can contact my work but can they contact other creditors directly?
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No chance of mortgage?
I have a clean credit rating, have a secure job (well, as secure as they can get these days) no debts apart from student loan, earning £33K. My husband has a shocking credit rating (defaulted many times on various loans before I met him 10 years ago, still owes around £10K. Married him anyway. He earns £27K. As I…
