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New to mortgages...
I currently own a property which is worth approximately £70,000 - 80,000 (with no mortgage). I have cash savings of around £17,000. I am looking to buy a property in the region of £120,000 - £140,000. Looking for a bit of advice / discussion on how people would recommend doing this. Should I put down a £15,000 deposit for…
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Longer term mortgage plans, please help!!
Hi all, I'm a long time skimmer of the forums although have a rather specific question and would be greatful of any advice particularly from those that have buy-to-lets etc. Here's my conundrum.... I'm 28, sole director of a small Ltd company (gives me about 50k a year) and another income of around 50k-60k a year although…
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Looking for first mortgage "Poor Credit"
Hello All, I am looking into getting a mortgage for the property where my parents currently live. I am renting somewhere and if all is well, my parents will be living in the house with me. I am looking to buy their house at around £50,000 which is less than the house value and I have a 10% deposit to put down on the…
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Mortgage with 1 Default
Hi, Just wondered if someone can help with the below query I have. I have the below default, the details are from the Experian website. I am hoping to start looking at getting a mortgage on some new builds going up in our area. We are looking at either shared ownership, or the help to buy scheme as me and my wife are 1st…
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Is a mortgage at all possible for us
Hi DW and I got ourselves into a mess back 2008 due to illness then job loss. As a result we defaulted on a lot of credit agreements. After about 10 months we got ourselves back on track and from about 2010 onwards all debts were paid off and we have been financially ok since then. We are now in a situation where our…
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Odd Nationwide Text Message
I submitted my mortgage application a week ago thursday, and on the Friday I got the following text from Nationwide: "Hi, Nationwide here. The valuation has been rescheduled to . There's no need to be present unless we've arranged this with you." Rescheduled to....??? Anyone have any ideas what this means? Thanks in…
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Do I need a broker?
So long story short I'm looking to release around £33K equity. At the moment I have an interest only mortgage of £122,470 and a property value (at least according to Zoopla) of £193,333. That means if I remortgaged at £154K I could come in under 80% LTV. I'm also planning to switch from interest only to repayment. Using…
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section 106
Hi there could anyone help me!!! just got my mortgage from leeds building society and I am purchasing on a shared ownership,done all searchs and what not,now my solicitor has requested section 106 from the housing association,what is this and is it a legal requirement. many thanks
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Mortgage Problem
Hi Coming to the end of our endowment mortgage next year (or so we thought) but have just found out that policy is only for half the value of our mortgage. Took out new mortgage with Abbey National in 1997 to finish in 2015 but Santander are now saying that as we listed details of our existing policy on our application…
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understanding interest rates - new buyer here
What sort of interest rate can you expect on a repayment mortgage? The base rate is 0.5% isnt it, but obviously you wont get that as banks need to make a profit. So how much do they typically offer?
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Which of these mortgage options would you go for?
I can port the balance on my existing mortgage with Santander of 49k at a rate of 3.39% (4 years left on that rate) and take the additional mortgage amount of 107k on a new product, which will either be 4.34% (2 Yr fix) or 4.99 (5 yr fix) This has no product fee, a free valuation and £250 cash back. Alternatively I can…
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building society flexible variable rate mortgage
Hi there, I am re-mortgaging and my mortgage advisor has recommended a flexible variable rate mortgage with a building society over fixed rate deals with banks. He says that because it's a building society it doesn't have share holders to satisfy and is run for the benefit of it's members so is unlikely (but not…
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Mortgage holiday advice
This is for a friend whose husband has been put on SSP as he is off with depression. I advised my friend to contact her building society and ask for a mortgage holiday to at least give them some breathing space for a couple of months. They have refused and said that they need to fall into arrears which will go on their…
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Remortgaging online
Hi guys Really simple question that I can't seem to work out for love nor money in my head. With Abbey, I can remortgage online through their website with less than 4 months to go. My current deal runs out in March. My question is, when my mortgage comes out my account on Monday (as the 1st is a Saturday) can I go online…
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Add to mortgage or loan?
hi, advise please, which is better for extension to home. Add to mortgage or loan. I currently only have approx £15,000 left on my mortgage over 9 yrs. no credit cards outstanding, but need to extend my home. is it better to add to mortgage and possibly extend the length of time outstanding to save paying much extra per…
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Remortgage Advice
We are thinking of remortgaging just checking that there's no reason why it should be rejected. My partner and I are currently employed permanently and our total salaries are around £52,000. I have credit card debts of around £7,500 over 4 cards, none are close to their limits and I pay the min payment or more every month…
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MSE News: Yorkshire Building Society fined £4.1m over mortgage arrears failings
Yorkshire Building Society has been fined over £4.1 million for failing to properly deal with customers in mortgage arrears... Read the full story: Yorkshire Building Society fined £4.1m over mortgage arrears failings Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it…
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Nationwide Building Society transferred mortgage
Hi, 11 years ago we took out a mortgage with Cheshire Building Society on a fixed rate, full term repayment deal. Cheshire BS has now been taken over by Nationwide BS and all went smoothly - a few things such as moving the mortgage statement date have changed but other than that, all was the same. Last week we received a…
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Leeds Building Society overpayments
I'm looking to set up a S/O to make an overpayment each month But after reading this I'm not too sure if it's worth it "6. How can I reduce my mortgage balance more quickly? In the current low savings rate environment, you may want to consider making overpayments on your mortgage. Some mortgages allow you to make…
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Mortgage application credit search- Advice please
Hi, I was given a DIP a few weeks ago, found a house and submitted full application and it got refused at the credit search stage. I have checked my file and can see they did a credit search at DIP stage, nothing has changed since then so I don't understand why it has failed 3 weeks later! Is the credit search on full…
