-
Lenders register interest on home insurance requirement - confused
Hi I am close to exchange so looking at home insurance quotes. My lender YBS stipulates that 'you will tell the insurer of our interest in the property as mortgagee and will arrange for our interest to be noted on the insurance policy' I would like to go with L&G but their website states: As you’ll be aware, the agreement…
-
recently self employed, after a mortgage next year (will i need 2 years accounts?)
I decided to go self employed (contractor) in July after 10 years at the same company. I would like to get a mortgage as a first time buyer at some point around july/aug next year. However a colleague thinks I have no chance as they will require a MINIMUM of 2 years accounts. By next july I hope to have a deposit of…
-
Mortgage refused by HSBC
Hi, Looking for some advice please, We've been looking for a house for nearly a year now and just found one we like and our offer has been accepted. We got an agreement in principle from HSBC on a £60000 mortgage on a £350000 house and the rest being paid by cash. today we recieved a phone call that they have refused us.…
-
mortgage and endownments?
Hey guys I am doing some studies about this industry. Just need some help on a few questions. When a mortgage is accepted, what other types of protection insurance are required to be taken out (aside from building)? and payment vehicles for some of the mortgages? a brief summary would be great. thanks
-
Will mortgage lender consider my commission?
I have been with my current employer for 5 years and have a guaranteed income of 55k with 50k extra in commission. In the previous financial year I earned 122k and so far this year (since April) I have already earned 60k. I am married with 1 child, my wife is currently on maternity leave. I would like to borrow 380k to…
-
Advice With My Northern Rock Together Mortgage
Hi everyone, I am after a bit of help and advice with my Northern Rock Together Mortgage as always NRAM are as useful as a chocolate fireguard. I struggle to underdtand this mortgage so i will break it down. It seems to be split into 3 sections. The first part is for £79000 interest only and is secured. The second part is…
-
First Time Buyer Queries
Hi All Forum Members, I have gross salary of £48,000 and wife just working part time and getting around £6,600 per anum. We have a savings of £25,000 and plan to borrow around £5,000 from family assistance, We are looking for a house to buy valued around £300,000 and need a mortgage of £270,000. I have checked experian…
-
redemption quote? confused
Hi, We currently have a mortgage on our home and have seen a bigger house we would like to move to. Our mortgage is now on the variable rate but was fixed up until 2 years ago. I rang to bank today to get the current balance which is £100,000. They said if I wanted a redemption balance I would have to wait for it in…
-
Just found out my house is of non standard construction house - mortgage probs
Hi All, Looking for some advice and signposting. We have been in our ex council house property for 10 years and are now in the last steps of remortgaging with Skipton but the survey report says our house is a Lowton & Cubitt (steel frame) construction. Skipton are not happy and it looks like the mortgage will be refused.…
-
retaining mortgage
Hi my names Kate and i'm new to this site. i'm looking for help. I'm struggling to understand how the mortgage retention works. Not sure how it works. My mortgage is for £95000 with 10% deposit so i have the £9500. The retention is for £2708 and I need this work completing. I can't get my head round it. If i pay the £2700…
-
Help with choosing a mortgage
We would like to get a fixed rate mortgage as we would really struggle if interest rates go up. We are looking for a 15 year mortgage as we are 'getting on'. What is the downside of a long fixed rate mortgage? I can see the percentage is much higher so monthly payments are higher but at least we know where we stand. Andy…
-
Self employment and mortgages..
Hi all, Currently applying for a mortgage and just need some clarification here. My partner has been employed for 6 months now, but prior to this he was self employed. The mortgage lender has requested his p60, as partner was self employed his p60 only reflects pay from Feb - April. So not accurate. Will 6 months payslips…
-
Equity in House & Cash Deposit
Hi all, We are looking into buying a new home. At the moment our mortgage is 105k, but we're hoping to get 145k for our house. We also have 45k as a cash deposit. We put £35k cash deposit on the current house. My question is do we count the 40k equity in the deposit figures or not? KW
-
Mortgage claim
I've been approached by a company who say they can claim back money for a mortgage. Not sure exactly what they think they can do? This was an endowment mortgage, which started in 1981, and was repaid when we moved in 2003. It's not the endowments they are claiming on, just the mortgage. They take 40% of whatever they get,…
-
Nationwide BMR and revamped mortgages
Nationwide have revamped their mortgage range this week, and to my mind puts the question of staying on the 'Holy Grail' of Nationwide BMR into question in my case, and maybe others too.…
-
Advice on C Card app during mortgage app?
So I had a credit card and the customer service was shocking, had nothing but trouble with them so I closed the account down. My credit limit was good, and I had a zero balance so had a low utilisation score. Before I closed it , I got a DIP from a mortgage lender. The hunt has been put on hold as the property got pulled…
-
Mortgage on property planning to split
Hi, I'm trying to buy a property that was originally built as two attached properties. It's remained as two, with separate address, entrances and utilities etc, but all under one title. The plan would be to sell the small part off in time and then pay part of the mortgage off. I'd got a mortgage agreed in principle from…
-
BTL Mortgage Queries
OK, this is quite long and convoluted, but I would appreciate some advice. Bought a house circa 8 years ago for 95K on a Together Mortgage from "Rock of the North", so 125% LTV. Im now moved in with my girlfriend to a different city and my house is for sale. I owe 80k mortgage and 15k loan, and the house is valued at 85k…
-
buying house significantly under value, do we need a deposit?
We have an amazing opportunity to buy a house from relatives at about £80k under market value. Off to talk about mortgages on Friday, but it occurred to me last night - does the difference between value and mortgage required mean we won't need to put down a deposit?
-
Should I even bother applying?
Hi everyone, Long-time lurker, first-time poster here. Have managed to save around £25K for a deposit on a home in London. After speaking with a broker (London & Country), a 'Decision in Principle' for £230,000 was given (although, I've since learned that this is viewed as fairly meaningless in some quarters). I earn £50K…
