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Selling before buying with mortgage.
Hi, Probably a silly question. 1) Can I sell my house and keep paying my mortgage until I find another to buy? Seems like wouldn't be an issue as would have more cash than owed but worried the debt is secured against property which I wouldn't have (like HP). 2) Am I right in thinking, if I have cash value above mortgage in…
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Business exit - Mortgage required.....
I have decided to partially exit my business this month, and step down from my role as MD, reducing my business equity from 9.5% to 2.5%, leaving me in a position where I can afford to move into a new house. I am starting a new business with £60k basic and will continue to earn £10k per month from the old company which has…
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Santander mortgage application process..
Hi all, AIP received today, and full application completed and docs sent off. (Through a broker). Now what? Does anyone have any experience with their usual process and time scales? Both very nervous! :(
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LTV Query
Finally received a mortgage offer :j Couple of queries regarding this.... 1. The offer received is for a 20yr term, 2yr fixed, £780 a month, yet the deal agreed with our mort adviser was for 28yr, 5yr fix, £690 per month, this we were going to make over payments on. This mortgage process has been ongoing for 4 months now,…
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Halifax Mortgage offered but full search not appearing on credit report
Hi All, I have recently exchanged contracts after full mortgage offer was received However, looking at my credit report, i cannot see a full search on it. It appears as a ''mortgage quotation'' Does anyone know why it shows as quotation? I am completing in a few weeks
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Loan to stop Possession
Hi, I don't know if anyone can help on here but we're getting a bit desperate now as we have been trying to obtain a remortgage/equity release/short term loan for £60k to stop Possession at the end of November. After loads of enquiries via telephone, e-mail and post everything seems to take forever and a day - especially…
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Can a offer on a house I jointly own be accepted without my approval ?
As per the title, my ex and I jointly own a house which has recently been put on the market. An offer was made and was accepted by my ex without my prior knowledge. Surely as been a joint owner of the house I have an input into this? Should the estate agent be running this information past me first?
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Nationwide
Trying to get a shared ownership remortgage with Nationwide. Lender has come back 3 times requesting more documentation - well some of it was already provided but because they couldn't see the page number had to provide again. Is this typical of how mortgage applications are processed? Starting to think we will be refused…
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Hubby temp contract-what will this prove?
Hubby is on a temp contract. Theyve already got a letter stating the service is highly likely to get funding when it runs out in oct 15. But when our application has gone the underwriters theyve requested his works contract. We have of course sent this but not sure why theyd ask as they already know details of when it ends…
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Self employed since 7/2013 - mortgage options
Have done a customary forum search for relevant answers to my question but feel mine is a bit of a bespoke case?! I have been self employed since 7/2013 This consists of a 100% shareholding in a ltd co. I draw the maximum without income tax as salary around £833 pcm. I have not been doing this since incorporation though.…
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Next Summer will I be ready for a Mortgage?
Hi all, I am looking for some advice and hopefully cheering up as my credit rationg is poor. Here is what happened. In 2007 I was 20 year old and working as a self employed Joiner. By October 08 I felt the reccession most and could not find work. Problem being at time I had a car on finance and multiple store cards from…
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Rates for adverse credit
Just a quickie, I'm wondering what sort of rates people pay if they are approved by an adverse credit lender? Do these vary dramatically? Thanks in advance :D
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New deal but redundant
I've been made redundant last month. With Tax Credits, and my Income Protection insurance policy I bring in more money than I did when working. My mortgage deal when I come off the fixed rate will go from 3.99 to 5.49. Can I get a new fixed rate deal as I have a steady income coming in for 12 months due to my policy and…
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Changing Mortgage Product with Same Lender
Hi everyone, My wife and I am about to enter into a DMP (completely my own doing), but I am trying to get as much information as possible about the possible effects of this before jumping in feet first. We currently have an excellent mortgage with Halifax at 2.69%. We are 7 months into a fixed term deal with them. I am…
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Brighton Mortgage Advice.
Hi All, Quite a general question but I was wondering what people thought of the below. If I have enough for a 50K deposit for a 1 bed flat / house in the brighton area, what salary should I be aiming for to make sure that I am 'comfortable' Thanks
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First time buyer - mortgage/help to buy advice
Hello everyone, My knowledge on mortgages is distinctly lacking so I figured I'd reach out to the good people of MSE now I am going to be in a position to buy a house. I'm looking for any advice/experience anyone has to input in on my situation at present. My current financial situation: £20k saved for deposit. Me +…
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Named on an existing mortgage
Hi all I have a question which I hope someone can answer.... I am currently named on a mortgage jointly but want to now buy my own house and move out. I have spoken to a mortgage company and they have offered me a mortgage but have told me they won't take into account the existing mortgage because they don't expect me to…
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Remortgage Application - 3rd adult in household
Hi all, I'm hoping for some advice on a remortgage application. I bought a 45% stake of a shared ownership flat with my partner 2 years ago. We're now looking to remortgage, in order to staircase to 80%. I've done a simulation over the phone with my current mortgage provider and was told that my application would be…
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Re-mortgage advice please
I would appreciate some advice please Our fixed mortgage rate expires on Jan 1st 2015. We want to fix it again for another 5 years but we also want to borrow another £10k for home improvements (new kitchen, boiler etc). On 1st Jan 2015 the mortgage balance will be approx £48250 with 13 years remaining. If we change lenders…
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On Santander SVR
Hi, I'm wondering what I should do..... I have a mortgage of around £120k. £39k of that is on the Santander SVR of 4.74% = £229 per month The remainder (£78k) is on a 2yr fix of 3.59% = £402 per month The plan was to wait until the 2 yr fix ran out and put it all in together - that will be in December 2015. However, with…
