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financing for renovation project
Hello and thank you for reading I would like to find out what options are for me in case of my project: I wish to purchase house that is in need of renovation and hte sell it off. What would be type of financing available for me in this sort of endeavor? I already have one residential mortgage. With regards Darius Krak
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When do you pay the broker
upon offer or upon completion.....? what if it is the former and for some reason the application does not go through...then thats £500 down the drain. I guess once you have the offer then its pretty much a dead cert that it will go through unless something untoward comes to light...perhaps a new undisclosed CCJ etc etc
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Buying 2nd property to rent out - mortgage free on current house
Hi folks Quick question. My girlfriend and I am in the fortunate position of owning our first and only property due to paying cash for it (nice little lottery win!) and therefore have quite a bit left lying around from what was going to be the deposit on the mortgage we ended up not needing. We have been in our home 18…
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Homewise 'Home For Life' Plan
Hi Apologies for the long post but can anyone help with this query please? We have relatives that need to move home due to health reasons. They do not have enough equity in their current property to purchase a new property outright and due to their age would probably not be considered for a mortgage. They are looking at a…
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AIP approved but scared of being refused mortgage
Hey, Thanks for taking the time to read this (if you do :) ) I have a mortgage at the moment and have never missed a payment, ever. My credit score is 999 and all bills are always paid on time. The only issue is, recently i have crept more and more into my overdraft and now its sitting at £3300 in the red. Is it worth even…
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Halifax: Leasehold with Share of Freehold
Hi all, Looking at purchasing a property which is a ground floor maisonette. It comes with a leasehold of around 950 years (confirmed) and a 50% share of the freehold. There is no ground rent or service charges and has a joint buildings insurance policy with the upstairs flat (flat upstairs owns the other 50% of the…
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State pension as 'allowed income'
Following up on a previous thread of mine about mortgages in retirement, I'd like to have a clearer understanding about whether the state retirement pension is considered by lenders as a valid income stream. Throughout my calculations, I've assumed this to be so but would like confirmation.
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Limited company director trying to get a mortgage please help!
I have a mortgage on my current property for £120000, I have just accepted an offer for £190,000 so I have £70,000 deposit. I want to buy a house for £210,000 I am a director of a Ltd company since may 2010 and can only take out £2,200 per month due to take purposes. I am also employed by a company and get wage slips. How…
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Getting a mortgage with a DMP
Hi Guys, I currently have a mortgage but have since taken out a DMP but am now looking to move to another property. I wondered if anyone could give me any advise on my chances of getting another mortgage considering my current situaction. Would I have more of a chance if I applied with the bank that gave me my current…
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Child Maintenance
Just saw this on another thread, but just thought I'd start my own. My ex pays me £350 a month for our two girls. This was agreed between the two of us. Will this be taken into consideration when I look to get a new mortgage?
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being added to deeds to support mortgage
Hi, Im looking for some advice... My dad past away last year and did not have any insurance to cover off the mortgage on there property. So my mum now has a 35k mortgage to pay with monthly payments which are too high for her to cover long term and on her income will struggle to remortgage. We have had discussion and she…
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Central Lending - Secured Loan
Hi - Took out a secured loan in 2008 with Central Lending (was Central Trust) for £26,000, paying £379 p/m for 180 months. We received a letter recently stating that there will be a shortfall at the end of the loan term and they need an extra £97 p/m for the remainder of the loan to cover this - can they do this??
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Mortgage Help
Hi Im needing mortgage help please turns out kensington wont just lend to my husband because we are married they want me to be on too but I am bankrupt therefore not allowed husband has excellent 999 credit score not but paid a default off in june (8k) that originated from a joint loan that came to him due to my bnkruptcy…
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Help to Buy loan - advise on Staircasing
Hi all I wanted to get some advice on paying off the help to Buy loan I got with my house. My situation: I bought a house in 2012 for £160k with a 30% Help to buy loan (roughly £48k loan) which is interest free for the first 5 years. Once the free period ends, I will then have to a yearly fee(1.75%, rising annually by the…
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Advice please on Mortgage Indemnity(MIG)
Hi In 1991 we took out a mortgage with Leeds Building Society and was told we have to pay for MI (£1400) in order for the bank to reclaim any cost etc should we default on payments and the property is repossessed. It was explained that should this happen the bank would get back the loss and we would not owe anything to the…
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Broker choice
Hi Me and my girlfriend are in the process of trying to buy our first house. We have a WOM broker we've been talking to who has found us a couple of deals that he would charge a fee of 1k for. The only thing is after putting in the offer this morning, the estate agents have quoted us half of this to use their own WOM…
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Rate of return over 20 years?
Is it possible to calculate what a reasonable return on £1,200.00 would be on an AVC left from 1993 until 2014? Historically would it have done any better elwhere?
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Advice on timeframe?
So its been almost 6 weeks since I had my offer accepted. Mortgage process has taken ages with delays in post etc but I now have confirmation that the lender has booked in the valuation a week today (4th Aug). All the searches have come back on this property (and the one that I'm selling) and I've just sent back a signed…
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what would you do?
good morning. I hope I'm able to get some sound advice without being put down as I have before?! I will soon be in a position to pay off a £9k loan, which I took out in feb/march this year. the loan cost's £183 a month and is over 5 yrs. affording this is no problem whatsoever. my question is- am I best to pay off the loan…
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AIP declined.
We applied for AIP with Post office and was declined. I called this morning and apparently due to credit score. I have looked at mine and mine is excellent so must be my other halves. He hasn’t been very good on the electoral roll and has done a few recent balance transfers but has never missed a payment. Can anyone…
