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Early repayment of buy to let vs tax benefit
Hi, I have a buy to let repayment mortgage, variable standard rate of 5.09%, repayment date Dec 2028. The interest is calculated monthly. In the past I was told not to make overpayments as I would lose out when it came to my self assessment tax return. Is this correct? Should I be repaying my mortgage early or putting the…
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Halifax Remortgage
Hi All, Not sure if anyone can help. I am currently with Halifax, I was in a 2 year fix product which expires in May 2015. I have completed alot of home improvements, i.e new kitchen and bathroom and driveway. My mortgage is £83,500 with a property value of £185,000. From the home improvements I have built up £15000 worth…
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Strange "Advance" Figure on NRAM Mortgage Statement
Hi, I'm not sure if this is posted in the right place or whether I should go over to the DFW board so feel free to redirect/move me :) I am thinking of selling a house that is currently rented out and I was today looking at old mortgage statements. I was (am) aware that I owe a little more than I borrowed but I didn't…
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Is my new wife entitled to my house?
I am about to get remarried. I already own a house outright. My previous wife still has her name on the deeds as I haven't had the cash to pay her out yet. She's happy with that. However, will my new wife automatically be entitled to half the house? If so, this complicates things. Up to now my previous wife has been happy…
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Help with credit history please
Me and my wife have just put an offer in on a house and had it accepted. The house is £150,000 and our deposit is £22500 so 85% LTV. Our joint income is £38000 We don't have any debt at all just a credit card each but with nothing on them. We had a mortgage meeting and got a DIP from the Post Office, we then did the full…
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On a fixed rate but my monthly payment keeps going up!
Hi all this is my 1st post on here so please be gentle! I took the plunge and bought my 1st home in July this year for £289995. I had a deposit of £140000 so the loan amount is £151499 (including a £1500 product fee which I was told by my broker I should add to the mortgage in case the application falls through?). With the…
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Halifax overpayments
Hi Once the conveyancer has pulled his finger out I should be starting a mortgage with halifax, I want to be able to overpay and thought this would be quite simple but after looking at some of the posts on here I'm a bit confused. Has anyone got a mortgage with them and overpays? I was hoping to be able to just transfer…
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Advice on borrowing additional funds for a buy-to-let which needs work.
Hello there, I wonder if anyone here could give us a pointer/advice re borrowing money against our house. We have fully paid off the mortgage on the home in which we live and are hoping to but a second property to rent out. We have enough money to buy a particular property that we very much like the look of outright.…
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Fixed rate deals and valuations
Hi all I'm looking for a bit of advice on getting a new fixed deal. I came to the end of a 5 year fix in May (4.29%) and my banks SVR was 4% so I was happy to stay on it for a while. I'm concerned the base rate will be going up mid 2015 so just trying to plan now. I bought the house in 2009 for £125k on a 90% repayment…
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How to move up Property ladder?
Hi I'm after some advice please.... Our house has £100k mortgage still left to pay and resale value right now is about £140-145. Current mortgage is in DH's name. DH and I have been going some some different scenarios and I'm still really confused - would be really grateful for some objective views please! We'd like to…
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Getting a mortgage while living at a hostel?
Hello. :) I'm looking to get a mortgage over the next few months in order to buy a property in Aberdeen. A bit of background: My company made me relocate from London to Aberdeen. Presently, I live in a hostel in Aberdeen since the rent prices are so dear - in London I was living with my parents, and so expenditure was…
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Interest only mortgage and Negative equity
Hi Before we married my wife paid £145k for a house using a 15k deposit and an interest only mortgage. She bought when prices were high in 2007. We rent the house but still have to top up the rental income to cover the monthly mortgage payments. The house may only be worth 75k at the minute. Is it possible to switch the…
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Nationwide 'save to buy mortgage'
Hi again guys, Has anybody done this 'save to buy scheme's' with Nationwide. My current credit situation isn't great and ideally I want to buy my first home next Summer and it will be first step to leaving Army. For further reference my credit situation is explained better in my other threads. But speaking hypothecally…
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Consolidating debt onto remortgage
Our mortgage is up for renewal soon. Since we last took out the existing mortgage we've increased the mortgage loan when we moved house, which has in turn needed a lot more emergency work than predicted, so we now have a whopping credit card debt across several cards that I'd like to totally clear and consolidate onto the…
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How do I know exactly how much I can borrow?
I have a low budget (I'm a FTB) as my salary is not great and I live/work in London. But I am very ready to buy now. When I called up London and Country (based on the MSE booklet), they gave me a rough estimate of between 170-190k. From my understanding of what the lady on the phone was saying, what I can borrow would vary…
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Right to Buy mortgage
Evening all, myself and my wife are looking to buy our council house, we are currently at the stage of sorting a mortgage, however, having 4 kids we have no deposit as such. Speaking to a financial advisor he has told us we can use the discount as deposit? before I pay him his £600 fee to sort it could I do it myself? If…
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Remortgage or not??
Hi all, I'm hoping for some advice and hope you can help? I have stayed in the same mortgage for a while as I'm not really up on how to change, whether it's worth it etc. However I feel now might be the time to learn!! Basically I had the old Northern Rock mortgage that then changed to NRAM and is a repayment mortgage. I…
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Consent to let and additional borrowing?
I'm wondering whether it's likely that my lender (Halifax) will be open to allowing "additional borrowing" of £10k once the property is being let out and it's no longer my main residence (it'll have proper consent to let in place). Property value c. £170k, current mortgage about £115k. The additional £10k does not change…
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Any chance of me getting a mortgage?
I have absolutely no idea so I thought I would run this by you knowledgeable people on here. I am 61 and in full-time employment. Due to a marriage separation and poor pension prospect I will need to continue to work for at least the next 10-15 years, health permitting. Luckily, I work for an organisation with no forced…
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underwriters gave mortgage promise, then declined after valuation, can i complain?
After the mortgage adviser at the bank could not approve the amount I needed she took it to the underwriters who gave me the amount I wanted and a mortgage promise was issued. I told the advisor at the bank how much the property I was interested in was and how much deposit I had (which was 15%). I waited 1 week for the…
