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Should we clear 0% credit card balance of £5k before applying for mortgage?
When writing this down it seems obvious the answer is yes, but hubby thinks I am just being silly! We have a 0% credit card that we put loads of things on and pay the minimum payment every month and let it go to the max of around £6k and then pay the full amount off at the end of the 0% term. We do this every year. He is…
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Second registered charge
Hello All, Apologies for what may be a long and complicated post. Basically, my parents' mortgage is due for repayment in capital last year, a total of£48,000 remains outstanding. They do not have this amount to pay, so my sister is trying to obtain a mortgage for the property and for her to live in it. Problem being my…
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Mortgage Advice Fee Refund???
Hi, Against my wishes my wife decided that we used Reeds Rains mortgage advice advisor after having an offer accepted on a house. We provided all our details and he found a mortgage which he said was best for us. He then submitted our application and quickly requested his £500 fee on application which we paid. In less than…
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Already received mortgage offer but now lender has dropped their rate
Our offer was issued a couple of weeks ago and our purchase is progressing relatively well. We still have a few things to look into but we are provisionally (optimistically) thinking of exchanging in a couple of weeks. I now see that the rate on our product has dropped quite a bit since our offer was issued and we would…
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parents have left my brother and I their house
Hi everyone. Complete novice on these things so any advice is really appreciated 😊. As the title of the thread states, my brother and I have been given my parents house and they have told us we can do what we like with our share. They are still alive and well, living in the house and they paid their mortgage off years ago.…
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True cost calculators
Comparing a few mortgages. Its asks for the product fee and then works out the true value over the initial period. If i wanted to add the product fee to the mortgage would i add it to the mortgage value and not put it in the product fee. EG 200k over 2 year inital with £900 fee and a £90 booking fee will become £200900…
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Have a joint mortgage but want to go it alone, where to start?
I'll try to keep this short and to the point, I'm preparing to break up with my partner, we have been in our home for 2 years and everything is in both our names. I want to find out if I can take on the mortgage alone, I believe I earn enough to cover payments and bills on my own. My question is where do I start with this?…
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How will it work?
Me and the good lady bought our first home in Oct '13 for £179,000 with a £36,000 deposit (LTV 80%). The effects of market forces and the new open plan kitchen/diner, full redec and bathroom have taken effect, and it has been valued at around £200,000. We took a 3 year fix at 2.59% mortgage. 3 months before the end of the…
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Mortgage with low income and CCJ
Hi, wonder if anyone can help. I am a single mum of 2 and currently earn £16,000, my salary is topped up by tax credits by about £160 per week. I don't have the best credit rating- CCJ in 2008. Other than that credit is ok, I owe small amounts on catalogue and credit card and had a missed payment a couple of times in the…
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What are your guys thoughts about my situation?
Hi, I finally found a property that was in my supposed price range (a repossessed ex council house being sold by a corporate seller). I made an offer and the agent said the seller wanted proof of deposit and a copy of my agreement in principle, due to the fact that its generally harder to obtain a mortgage because of the…
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Mis-selling of mortgage?
Bear with me on this one folks. A lady friend of ours has an interest only mortgage which she got through a broker about 13 years ago. At that time she was in the middle of a divorce from an abusive husband and not only was she trying to find somewhere to live but she had all the other aggro of a divorce, the children etc.…
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Mortgage deal coming to an end - advice please
Hi there, We moved into our our second house nearly three years ago. We took our old mortgage with us, now worth about 125k, this is a mortgage on base rate + 2%, so we pay 2.5% a month, worth around £600. We then have a second part to the mortgage which we took on a 3 year fixed at 4.4% (this is the part coming to the…
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Is there such a thing as a 1 year mortgage deal?
Forgive my ignorance, despite having a mortgage for 5 years, it is something that I have little understanding of. We currently have our flat on the market and are planning to move into rented accommodation for 6 months as soon as it sells. Our mortgage deal is up for renewal on the 31st October. The rates that our current…
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Buyin parents home
My parents home is worth around 350k and has a mortgage of around 170k outstanding. Can I purchase it from them for 350k but use all the extra money they recieve as my deposit? I have 50k saved up from my own money so I can use this aswell along with the "gifted Deposit" (I think thats the term?). making the total amount i…
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Single or Joint?
Hi, I am now taking out a mortgage on the home I live in (currently owned outright with no mortgage) in order to buy another property. The exact reasons for doing this are a bit complicated, but not the subject of this thread. However, there is a degree of urgency as the purchase is taking longer than expected and the…
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Advice on buying parents home
Hi was looking for some advice about buying my parents home. I currently live with them and my brother is looking at buying his own home. We came up with the idea of my parents giving us the house now as our inheritance and me buying my brothers half out giving him a deposit for his own house. Currently the house is worth…
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switching from joint to single mortgage
We have a mortgage with Skipton on their standard rate, and I am unable to move it due to my defaults (see signature) but HSBC have looked at a 3 year fixed rate mortgage in just my husbands name. He does earn enough on his own to meet the affordability check. This would save a considerable amount, and help us to pay off…
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Default Mortgage
Hi there, Had a mortgage with Accord in 2007 which regrettably went into default in 2011 and property repossessed. The mortgage is marked as settled on my Equifax credit report, however I am paying £100 per month via Optima Legal. I know the property went to auction and was sold. I was just wondering why it would be…
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Porting a mortgage to buy a B&B
Please can anyone advise if we can port an Alliance&Leicester mortgage to buy a B&B of lesser value than our current property. However it will not completely clear the mortgage
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Help me please
Hi I'm hoping someone can help me. I split with my partner last year - we had a child and a mortgage together. When we broke it off I left the property a she stayed and continued to pay the mortgage alone. I'm in rented accommodation with my little girl. My ex has now come to to say he no longer wants to live there and he…
