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Clydesdale Mortgage Overpayment
Hi I'm wondering if anyone can offer advice and / or share experiences with regard to the following situation. Sorry if it's rather long. My mortgage is with Clydesdale bank, interest-only, still within the 2 year initial fixed rate period. Terms are that during the initial period, repayments of up to 10% of the…
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Payday loan
Hello I stupidly took out a payday loan for £200 back in September, Im currently applying for a mortgage (FTB) I appreciate this may be frowned upon by lenders. Does anyone have any experience of success when applying for a mortgage with a one off pay day loan? Cheers
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Advise need for First Time Buyers
Hi all, We have just put in a reservation fees for a property of our dreams which will only be ready to move into on June 2015 within the Help to Buy Shared Equity scheme. Shopping around for good mortgage rates via our broker and only just found out that mortgage offers will only last for 6 months (we are now 11 months…
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In a financial pickle, can anyone advise on mtg or shared ownership. Thank you.
Hi, I am in need of advice and not just from some estate agent wanting to sell my house who will tell me the easiest option. I am a single mother and the ex wants his name off of the mtg. He has been paid to leave and has signed away any rights to the equity. I have 30k of unsecured debt, £158k of mtg. I earn £12k gross…
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Opening a new current account before mortgage app
Hi all, First post here so appreciate any help. I am looking to switch current accounts to Santander to take advantage of their monthly rewards as currently mine gives nothing, but am wondering if this has a detrimental effect on a credit rating from a lenders point of view as I'm also looking to apply for a Santander…
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2 mortgages, defaulting on first
Hello everyone. A Hypothetical question after a conversation I overheard on a bus today. If you get a second home and therefore a second mortgage, and then stop paying the first mortgage, what would happen? The chap was clearly under the impression that the houses are treated separately and that would be an easy way to…
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Mortgage app declined in principle
Hi, I am trying to switch my mortgage onto a fixed deal. I applied for a decent 80% LTV deal with HSBC and got declined. I put in all the details for me and my partner, it did a very quick search and came up declined instantly. I then applied for Tesco Bank deal which was similar 80% LTV. Same thing, quick search and…
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Staircasing / Solicitors question
Anyone have a *rough* idea how long I should expect the solicitors to take to complete all the paperwork on staircasing a flat to 100%. I'm holding back on any searches etc until I've had a formal offer from the mortgage lender but worry I'm worried I will run out of time. The Housing association put a three month limit on…
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Mortgage retentions
Hi, I have had a mortgage offer accepted, however the house I am purchasing has had to have 3 different surveys/reports and requires work. The building society are going to retain £9122 of a £89000 mortgage. The house price is £109000 and I have a £20000 deposit. I'm very confused as to what happens now. Do I get the work…
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Re-mortgaging for extension query
A bit of a rambling query here so please bear with me. We own our house with a smallish mortgage (60k – house is worth around 240k) We are having to move temporarily for work and so will be renting our house out, and renting another (for roughly 2 years). We were planning on extending in the future, but are now thinking as…
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Woolwich - still waiting for offer after valuation
Hi guys, I'm hoping someone can help ease my mind. Our valuation came back fine a good 7 business days ago, but we are still waiting for our mortgage offer to come through from Woolwich. Does any MA's out there have any visibility on if this is a normal wait time? My MA hasn't been that helpful and almost refuse to follow…
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Nationwide lending criteria?
We are looking to port our existing Nationwide mortgage to another house. Initial enquiry with NW by phone I was told that if applicants are within 10 years of state pension age, then their estimated state pension is the income on which affordability is calculated. I am flabbergasted! With OH likely to work another 5 years…
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End of mortgage term question
Our mortgage is due to end in Oct 2016 when I will be 65. Although we will have a considerable amount of collateral in the property (around 55%), for various reasons (failed pension funds etc) there will be around 160k still owing. I am self employed in our small family business and have no intention of retiring and even…
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transferring mortgage offer to a new house?
we put an offer in on a house in May of this year - survey, searches... all done. the vendor is now pulling out as we have requested to carry out further surveys. we are now looking elsewhere, can we transfer our mortgage offer to another property?
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Post Office Mortgage - Process Concerns
Hi Hope any has been through the same as me recently. Applied to Post Office for FTB mortgage OVER THE PHONE. Received a pack with full application in, KFI and a letter saying 'agreed in principle' although no figures to suggest how much etc. Estate agents are chasing for a Mortgage In Principle but speaking to Post Office…
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Remortgage during renovation - effects on my LTV
Morning all, my current mortgage has run its course and is finishing very soon so I will have to remortgage to get a new deal. I am however coming to the end of a renovation which could possibly see my LTV dropping from its current 75%, down to 50-60%. The issue is, building control will not be able to sign the completion…
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Mortgage application put on hold
Hi myself and my partner recently applied for a mortgage with TSB It was all agreed in principle and a mortgage promise was issued. We put an offer which was accepted in on a house and paid TSB the valuation fee and started proceedings with a solicitor. After we had done all this our mortgage advisor called telling us it…
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Made redundant - Mortgage help needed
Hi guys, I've not posted on here for awhile but I could really do with some advice. I was recently made redundant which has come as a bit of a shock having been in continuous employment since leaving Uni in 2001. I was the main income earner in the household (66%) and we found out we were pregnant the day before I was laid…
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mortgage query
I've been reading the threads with interest, so thankyou for that. We are considering getting a mortgage in the next year or so, however I do have some concerns. We are both in long term employment, NHS clinical staff and earn 36k each. One loan which we both pay of £7k due to finish in two years. My partners credit rating…
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Ditch & Switch Mortgage - ERC?
Morning, I've been considering taking advantage of recent house price increases by remortgaging to move myself into a lower LTV band. I have 2 years left on my current deal (4 year fix, 95% LTV) and although it carries a hefty £4500 redemption charge, I believe that considering I am now in the 80% LTV band, even after…
