-
Undervalued by the bank - can I query that?
Hi, Does anyone have any experience with querying bank valuation? The house has been valued for rent at £1,350 but agent offered 3 comparables with over £1,500. I just looked at rightmove and all above £1,500 in the area, 2 bed house is at £1,400 of similar condition (and this one is 3/4 bed). Zoopla (I know some will say…
-
Mortgage Decline - Try broker or call it quits?
My partner and I are first time buyers and saved a deposit of £8k, hoping to get a Clydedale Bank 5% first time buyer mortgage on a property of £125k value. Before out first appointment, our parents kindly gifted us an extra £15k between them, £2k of which we used to pay off my partner's credit card. During the process of…
-
Natwest Mortgage offer
The broker put the application in Tuesday following getting a offer in principle accepted. How long until I get a response.. its turning into a long nervous wait. I was totally upfront with the broker on everything so there should be no surprises... I am looking to borrow 150k and the broker said that Natwest would lend me…
-
Converting BTL into Residential
So I'm finding my current home a bit small and the idea of moving into the larger BTL seems like something I may want to do in the future. Of course, I can't live in the BTL house on its current mortgage. I would have to sell the current residential home, repay the mortgage and change the BTL to a residential mortgage. In…
-
Mortgage advice please
We are looking to remortgage a house we own and rent out, in order to release some equity. Currently our tenant pays the rental management company, who then pay the remainder into the mortgage account. Our current mortgage provider has said this is not acceptable (first time they had told us this of course) and want us to…
-
Lifetime Mortgage dilema,,,,
Hi all I am after some advice on issue concerning a lifetime mortgage. My now mother/father in law had taken out a lifetime mortgage on their house about 7 years ago (as for as i can gather term is over 15yrs) , but now due to their age and fitness the house is house/garden is getting to much for them to run, so possibly…
-
When to Hire a Solicitor?
I made an offer on a property and it got accepted. However, I will have to wait a week for an appointment with my mortgage adviser to make a mortgage application. I would prefer not to hire a solicitor at least until I make the mortgage application in case it gets rejected. Am I expected to already have a solicitor at this…
-
remortgage problem
I am 41 years old I was made redundant in February and used my redundancy money to start a small business with my partner which started trading in July. My father passed away in April of last year and I inherited his house which is worth between 180k and 200k and there is no mortgage or loan on the house. I have a loan and…
-
SVR, to keep or not to keep
Hi all, I used to be a mortgage advisor pre recession but have been out of the game for a while so I am worried I am missing something here: I will be looking to move soon, I have a current mortgage of about £130k on my lenders SVR of 2.5% (this is a pre recession, fully portable if I wish) I will be borrowing around…
-
A bit of moaning re Key Terms
Hi all, Just thinking aloud here. Typically when you take out a mortgage your financial advisor would walk you through and and attempt to sell protection products that you may need in a low probability event such as disability, injury etc. On the other hand over 40% marriages fail. Such an event may also result in a loss…
-
Late payment cc right before completion I
Morning everyone, I am about to complete in 10 days on a house, but just saw that I have been 2 days late to pay a CC and a late payment fee applied. Does it will affect the completion? Soo upset right now.. Haven't been late for a cc or anything in 5 years! Thank you for ur help
-
borrow more on current mortgage or new mortgage? (parents help/guarantor)
Hi should we borrow or can we borrow (for this purpose) full amount(or part) of purchase price to pay for daughters new home from our current mortgage which we are paying of fully ie only to leave small amount so that we can borrow on it This would mean that we would pay the additional borrowing with daughter contributing…
-
Pipe dream or possibility?
Hi there, so I know that there is no guarantee until I hear back, but I was wondering if you think my chances of being accepted for this mortgage are likely based on my situation. My paperwork has been sent to my broker, but I've just been told about these new rules and I'm worried I'm not going to be a good candidate now.…
-
Buying a car - use savings or overpayment on mortgage?
Looking for advice on whether to drawdown £10,000 from overpayment on my mortgage account or take it from savings? Mortgage is on variable rate (2.5%), whilst savings are attracting 6% (money is overseas, hence the good rate!)
-
Bizarre Mortgage Decline Reason?
Hi - I've just had a mortgage application "cancelled" as the valuer gave the property a value of £ZERO. This is due to the warranty/building guarantee apparently just being for the whole building which was converted into 3 flats - one of which I am attempting to buy - and not for the individual flat. The conversion…
-
BTL mortgage to raise deposit for a second home
Hi, My partner and I want to buy a house together but don't have enough savings for a deposit. I own a house with no mortgage left outstanding, valued at £300,000. A simple solution is to sell this and move somewhere else, but I've worked so hard renovating it that I can't bear to part with it! So I'd like some advice…
-
Recently declined mortgage, Help!
Hello everyone, I hope I am in the right place as I have not been here a while, and it took me ages then!!! Ok I'll get right to it. I have recently been declined for a mortgage. I have a broker, my score at the time was 727, I know that does not mean much but it meant a lot to me! I have two jobs earning in total under…
-
Property I Am Buying Changed to 'Under Offer'
I made an offer on the property and it got accepted. However, it is now on rightmove as 'Under Offer' instead of 'Subject to Contract' (which I was hoping it would be). My estate agent said that this is simply how they do things. Is that something that I should be concerned about? What do you think about when you hear…
-
How long does mortgage offer last for?
my mortgage valuation has just been done so am expecting the offer any time now, how long does it officially last for please? And when does the clock start ticking? Am asking as theres a possible issue with my sale, and wanted to know how long the offer stood for if there is a hiccup :( Say it went on for another month or…
-
Credit ratings
Hi everyone, Mortgage newbie here! Quick question does credit rating play a huge part to the mortgage and how do they work these Is the rating averaged out between the joint applicants? I have a excellant rating on equifax above uk average and stated as 'excellant' this is 488 My fiance on the other hand who i want to get…
