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First time buyer with an IVA
I had bad debt problems, over £30k that I ended up in debt management for (I beleive it was called an IVA but have only recently heard that terminology). My debt has successfully been cleared for 3 years and have some how managed to save a 5% deposit. Living in London a 5% deposit is quite a feet. I approached my bank and…
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Need some advice please: selling house/exwife/debts!
My partner and I are after some advice re his house. He owns the house with his wife, from whom he has been separated for 6 years. they have a joint mortgage still, though she has refused to pay her half since she moved out. The mortgage was in arrears when his wife left. He contacted the mortgage company and they agreed…
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Remortgage maths - any brokers' opinions?
Property value £330,000 Provable (pensions) income £22,000 Mortgage required £60,000 Ages 65 and 61 Credit record spotless Current lender indicates remortgage with them not possible on account of age Have I missed anything out? Do-able?
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Mortgage Life Insurance Question
Hi, I think this is a bit of a stupid question but can't find a definitive answer for it in any guides! Here goes... I am a first time buyer and will need mortgage life insurance. Question is for mortgage life insurance, when calculating a quote for the amount of cover required, should I just include the mortgage amount I…
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New mortgage affordability criteria - joke!
The banks are using the new mortgage affordability criteria to screw customers. We have a £100,000 mortgage which we asked to increase to £150,000 but this wasn't possible due to the application of the new affordability criteria. However, it was suggested that we each apply for a £25,000 personal loan - which would give us…
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Nationwide LOW valuation appeals/challenges
Has anyone gone through with this?? Thank you in advance..
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Fear of applying for mortgage.
So here is a bit of background. Me- Good credit, have 12 months left of a small loan, car finance which has 4 years left and I lease a computer. Small limit credit card with my bank of 25 years. Husband - Poor Credit, defaulted on a few things about 3 years ago as a result of losing his job. Now all paid off in full. Only…
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is it worth re mortgaging?
my only property is rented out on a consent to let, not sure for how long I will continue it. However the mortgage is now on the SVR at 3.89% and follows the base rate so if rates go up, so will my mortgage. I do like the fact I'm not tied in though, I could redeem the mortgage at any time by selling the place or I could…
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Buying a house in Scotland - what's next?
So we've had our mortgage offer, sent to our solicitor. He emailed me today to say he got a letter from the seller's estate agent with a formal letter, and that we need to go in to go through the contract and that the administrator will complete the legal work. What does this mean?! What is left to do? When do we sign…
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Nationwide mortgage help
Hi, I have recently applied for a mortgage with nationwide of 104,000 pounds with 26,000pounds deposit and i have a personal loan of 10000 pounds which is not being used for the deposit and i pay fixed 188 pounds a month for 5 years at the moment my loan is 9000 pounds still have 4 years left and i have included this in…
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Re: Self employed mortgage
Hi, I am looking to get on the property ladder. I live with my parents and married. Both me and my partner are employed by my company which I own. I am paying myself minimum wage (£641 per month) and dividend (12k for 2013 nothing for the previous two years). and my wife is being paid £18k, I am wondering if I can apply…
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Anyone applying with Platform Mortgages?
I'm in the process of applying for a mortgage with Platform. I think a lot of lenders are struggling with time frames at the moment but Platform have specified a 14 working day time frame for only the initial underwriting decision. Is anyone else having a similar experience or (fingers crossed) this is only the worst case…
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Re-mortgaging to include house builder loan?
Hi everyone, After many years of being a 'reader' on these forums, I have finally taken the plunge and decided to post my first thread so please be kind :) Ok, so allow me to explain a little. Three years ago we bought a brand new home with a 20% loan from the house builder. That is, 20% of the value of the house. The loan…
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Can we get a mortgage on our rental property?
We own a flat outright, worth about £200k, which is rented out. We need to borrow £25k to cover service charges for repairs to the building. Is there any type of mortgage we'd be eligible for? I've looked into both buy to let and let to buy, but neither of those seem applicable to our situation.
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Does the land registry charge you for completing a SDLT1?
I'm buying a house for £112,500 and therefore don't need to pay any stamp duty. On my solicitors breakdown there is a £95 Land Transaction fee. I have been on the HMRC site and had a dummy run at completing the form and found it to be fine, so I'm happy to complete it myself. My solicitor advised that they don't charge for…
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Further Advance versus Re-mortgage- Pros/cons?
Hello All. I currently have a mortgage on a 36% share (of a shared ownership flat) and am in the process of trying to purchase the remaining 64%) My valuation is done and I understand the the stair-casing process. My questions is what are the pros/cons of buying with a further advance with my existing lender over…
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Mortgage with ex now in arrears
Hi All I have written here before but just want to check something as my solicitor is on holiday until 21st July.. My ex and I split up last January (2013) and we had not long bought a house together. I moved out (he basically left me no choice) last August and went back to stay with my mum and dad. I have always paid the…
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Buy to Let Help Needed
Hi, I currently have a Let Mortgage on a property that I rent out. The Mortgage is a joint mortgage with my ex girlfriend. Since we split up 3 years ago I have been covering all cost and expenditure but I wanted to know is there any way to remove her from the mortgage. When I speak to the mortgage company (Santander) I…
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Static Caravan / Mortgage / Planning Permission Dilemma!
I would like to buy a small piece of land to keep my static caravan on. I cannot afford to pay cash for the land so I need a mortgage or a loan. I already own the caravan and it has a bedroom, kitchen and bathroom. The caravan will not be my primary residence, but I would like to be able to use it for my personal use more…
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Mortgage Broker Recommendations
We applied directly for our mortgage with Natwest and had our offer agreed. However, it is about to expire as we haven't been able to complete due to problems with our chain. The chain is back together again but my mortgage offer will not last. We have asked Natwest for an extension and they have said they could extend by…
