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Mortgage Newbie (First time buyer)
Hey guys, I'm completely new to this forum and completely clueless in the world of mortgages, I would really appreciate any help/advice you can give me regarding my questions: I'm 27 and have been in my current job (finance assistant) for 7 months now, I'm currently earning £17,000 per annum, no bonus. Is it possible to…
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Solicitor withdrwn from panel after offer made
I'd like to get some opinions on this please: Mortgage offer made to me a couple of months ago, with bank happy to have my solicitor represent them as they are on panel. A few days before exchange we're told the solicitor is no longer on the panel, so we'll need a new solicitor to represent bank. This means new money…
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can my apartment be remortgaged by loan shark
Help!! I have an apartment which i purchased in my sole name. My ex partner borrowed money from a loan shark but says he paid it all back with interest. The shark then decided to take a mortgage out on my property. I kept refusing and he kept threatening me and my family until I gave in and signed a mortgage for 30,000…
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Lenders pulling mortgages at last minute
Hi, Does any law exists, which prevents moneylenders and banks to withdraw mortgages at the last minute. i.e after an offer is accepted If such law does not exists not how can consumers collectively start an initiative to get such a clause included in the contract. Please advise
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How long does an agreement in principle take to process?
Question as per the title. Looking to make an offer on a property, but need to make sure we can get a mortgage first! Thanks
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I know multiples are old hat but..
What would we be looking at roughly? I work part time and earn £17000, my husband earns £13000 and we have one dependant. Would the child benefit we get count as income? We don't have any other debts, just the regular outgoings - phone bills, gas and elec, insurances, petrol (we run 2 cars) food etc. Any thoughts on what…
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We need help!
Hi forum, So I need some help and advice if possible. About 8 years ago, we bought our house for roughly £249,000 (1st home as a married couple, but 2nd property for me in total, as I own a shop with my Dad which is currently on rent which is just covering the mortgage on it). We paid £40,000 as a deposit and got the…
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Gifting a house - implications?
Hi all, Just wondering if anyone had any experience/knowledge on gifting a family home to children in the UK. Current situation is as follows: Family home with current residents being father and son. Father owns home and wants to gift this to son. the house has been valued at around £170,000. The issue is that the father…
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Remortgage
Hi - my fixed rate ends November 2015 - when should I contact my mortgage advisor to look for new deals? I was thinking 6 months before...
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Applying for a Mortgage But Poor Credit
I am hoping to apply for a mortgage with my partner. I have joined up with Equifax and my credit score is poor at 348 with the average score in the UK being 430. My credit agreements all seem good or excellent but my electoral roll flags up red with very poor. Would this make it difficult for me to obtain a mortgage? If i…
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Employee mortgage and tax implications
I can get an employee mortgage that is (I think) base rate plus 2.25% (so 2.75% at the moment). Regardless of whether this is a good deal, what are the tax implications given that the HMRC rate for such loans is 3.25%? How much would I have to pay in tax per year? I'm a basic rate taxpayer, repayments would probably be…
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Can I get a mortgage after I've paid off my debt or do I have to wait 6 years?
Can I get a mortgage after I've paid off my debt or do I have to wait 6 years for my credit to be acceptable? I'm about 18k in debt but I've moved back home and received a raise where I can pay the 18k debt off in 12 months, so I will be able to afford a mortgage eventually, as I will always have £1,500 left over each…
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Unoccupied property - would lenders refuse a mortgage
Hi All, I have had an offer accepted, but the property needs extensive refurbishment works which could take several months to complete. During this period the property would not be occupied. My mortgage advisor has raised a concern that, due to stricter lending requirements, lenders will not be comfortable with lending…
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Lender states survey price needs negotiating - confused
Hi Had a call from underwriters, they took the fee for the lenders valuation - they use countrywide. I opted for a structural survey but underwriters said Countrywide will call me and its down to me to negotiate the survey price with them. When I got my AIP a few months ago the MA advised of the prices for the structural…
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F&F P flag vs Satisfied debts
I am hoping to reach at least F&F settlements on my debts and wondering whether it is worth stretching to pay off in full for the sake of my credit rating with a view to getting a mortgage in the future. I already have 6 defaults on there. Can anyone advise what I should do?
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In a pickle with cc and mortgage
Hi, hope someone can guide me. I have a cc of £10,000 and a mortgage of £110,000 (prop value £250,000). I am currently paying a very low interest on the 110,000 of £133.67 per month. That's great but I have no endowment to pay this off in 15 years time. What is the best thing for me to do?? Is there a policy type thing I…
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How does Maternity leave affect getting a mortgage
Hello, I am wondering how being on maternity leave will affect me and my partner getting a mortgage? Does anyone know what lenders take into account regarding this with all the new rules around lending? Thanks
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Nat West Self-service
The fixed rate on part of my mortgage is coming to an end. I've called Natwest and they have sent me a link by email to execute it myself online without the need for another of those 3 hour phone calls, but it keeps telling me my mortgage account number is incorrect and blocks my access. I've spoken with Nat Wset and they…
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Remortgage - paying off credit card
Hi, when remortgaging to a new lender if it is agreed that part of the remortgage amount (we are adding to our current mortgage total) will be to pay off a credit card do they take this into account when calculating how much they will lend us? I.e. will they exclude the credit card amount from borrowing calculation?…
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Underwriter
We've made a submission to Santander via London and Country. A credit search has appeard on our credit files and our MA has rang to say that they are happy and we pass their scoring system. He assures me that the hard part is now over. The application is now with their underwriter who will be requesting various…
