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House Sale Fell Through And Need to Apply For More Lending
Hi, we have been accepted for additional borrowing for a new house but the sale fell through...during this time we took out a loan to cover the building work required. We must apply for new borrowing amount and wonder if the loan, which has yet to be paid (deferred start date) will show on our credit file when we apply? We…
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Company to negotiate with lender
Hi Basically we have a property in major negative equity and a company say if we sell they can negotiate with the mortgage supplier to reduce the shortfall that we have to pay (by quite a significant amount) It would be a way out for us cutting our losses but they charge £3000. Circumstances are that we have a £185000…
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Taking over parents mortgage
Hi guys, My parents own a home in Surrey with an outstanding mortgage of £325,000. The property is currently valued £410,000. Approximately 18 years left on term. Interest only mortgage. My dad is getting old and struggling to make the mortgage payments. Myself and brother help around the house a lot and pay bills on their…
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Will I ever get a mortgage?
Hi all, I'm 28 and have a good income (£32,000) I'm in a good place financially now but have not had a pretty background. I don't think I have defaults although i have frequently made late payments or missed some completely. My credit cards were always maxed and i've had a few payday loans in the past. Now my partner and I…
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2nd charge or declaration of trust?
Hello, My parents are giving us a large sum for our deposit, however they would like to have some rights on the property - basically own 35% of the property (the money they give us is 35% of the property value). As I understand there are 2 ways of doing this: Either they register a 2nd charge on the property, then their…
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Selling and switching to Joint Mortgage
Hi I'm considering selling my flat and didnt want to wait another 20 minutes on hold to the Halifax while I spoke to another dept... I have £103,000 outstanding on my mortgage, with my flat being valued £205,000 (London). The Halifax have said if it sells for that, I could borrow an additional £60,000. So have i done the…
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Additional lending on a mortgage
Hi, My wife and I moved house 6 weeks ago, valued at £400k, we paid £390k with a £45k deposit (i.e. 90% LTV). We are in Scotland and the lender is Accord. The house is in a desirable area and good condition, however we are considering some work to alter layout and size, adding an extra room downstairs and doing an attic…
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Mortgage for retired people
I am 64 and retired. My wife is 56 and will be at work for another four years. We want to buy a second home in Norfolk, for around £250,000 and we have £100, 000 deposit. Any advice out there as to how we can get a mortgage for £150,000, please?:
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How long should I wait before applying for a new mortgage
Hello all, Myself and the mrs are finally looking at moving in together, so I have sold my house and she is living with her parents. The contracts are due to exchange on 28th July, my question is how long should we wait before applying for an AIP (Agreement in Principle) for our new home. My thinking is I will need to wait…
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social homebuy shared ownership
Can anyone recommend a mortgage broker for shared ownership, specifically social homebuy (buying a property owned by Housing Association). Thanks.
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Mortgage advice
Hi, I am in a bit of a quandary as to the best course of action to take with my mortgage. The fixed period on the second part of my mortgage is coming to an end and will go up to 4.24% shortly. There are a few deals available to me which I will outline below, but with interest rates set to rise in the next 12-15 months (I…
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what going on here with 30 year mortgages
Borrowers warned over 30-year mortgages Lenders will find it 'difficult' to show forbearance to older borrowers on long-term mortgages who fall into financial difficulty, Bank of England says http://www.telegraph.co.uk/finance/personalfinance /borrowing/mortgages/10970290/Borrowers-warned-over-30-year-mortgages.html just…
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worry wart post!! awaiting completion
Hi, So this is my forst post to this site so please bear with me if I dont include all the information needed. Me and my husband exchanged on our home on Monday and are due to complete this Friday. There are only 3 of us in the chain. My husband has taken the mortgage on himself as I have previous bad credit history. He…
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Mortgage transfer - house fallen through
Can anyone offer advice? We planned to transfer our mortgage to our new house - trying to line up our sale and our purchase. Our house has now fallen through but we must sell and move into rented as we have started jobs. This means we'll be hit with a fee to pay off the mortgage early. Our Mortgage is with Nationwide. Do…
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Offset mortage and ISA accounts
hi all, I am quite unsure on what to do in terms of using my Cash ISA funds against my offset mortgage. Basically we are on FD Offset Lifetime tracker (2.29% + BoE, ie, 2.79% at the moment). We have some reasonable funds on 2x Cash ISAs at 2% at the moment, but the rate will drop to 1.8% in October. I know that by…
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Right time to buy our new House
Hi I'm new here but I have a question that I think might result in several different answer but here goes, I'll do my best to explain. I purchased my first house 5 years ago during the recession period so I snatched up a bargain as my offer was accepted at £150K for a 2 bed ground floor flat. As I was a first time buyer…
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Mortgage possibility with bad payment history
New to this site. Need some advise. We are a family with 2 children (13 & 9 years old) & currently renting (£950 pm). Both are working permanent positions for more than 3 years now. My income : 37k pa Wife: 15k pa We are looking to buy a property. We have around 15k deposit (trying to save more but very hard with renting).…
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Renting my house and buying in London - What to do?
Hi. Im in a dilemma. Can anyone advise? I have a 2 bed house that is paid off and is outside London. Its worth about £300k. The thing is, I want to live in London. Its likely I would only be looking at 2, possibly 3 bed places due to the huge increases in cost, likely to be in the region of £700k. What should I do? Bear in…
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Remortgage and buy-to-let
Hi guys, I realise this question has probably been asked a lot but I was hoping someone could point me in the right direction. I'm trying to get my house remortgaged on a fixed rate however; the problem I have is that my house has now been rented out and my current mortgage provider don't offer buy to let mortgages. They…
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Shared Equity (Bovis Jumpstart) Question
Hello All, I have been an avid reader of the forums for a while, but finally joined up and this is my first post :j I live on my own in my Bovis home, which was the value of £124,950 when I moved in. To get me on the property ladder, I needed to use their shared equity scheme aka Jumpstart. I am now a few months away from…
