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5% mortgage advice for 1st time buyer
I am after some advice on a first time buyers mortgage with a 5% deposit. Looking to borrowing around £150,000 - to £160,000. My wife has recently started her own business and so does not draw a wage. Her credit history is bad so to start the business I have in my name a small natwest loan and about £4000 on a credit card.…
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Is my mortgage company overcharging me interest?
According to my (ex) mortgage company, interest on mortgages is calculated daily and capitalised annually. This means that each day the daily interest for the debt is calculated and added to the "interest for the year so far" pot which is added to the mortgage at the end of the year. When checking the figures, I discovered…
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Protecting My Investment
I have my own mortgage and although I love and trust my partner there is always a chance things could go pear shaped and she claim half of my investment. I worked hard on the property before I met her and now have a house worth 140k with only a mortgage of 75k. My brother is in a similar position now. He has a 40k deposit…
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Incorrect Settlement Figure Given - URGENT HELP PLEASE
Bottom line up front - Mortgage company 'A' gave me a settlement figure for 01 Jan 15 of £101K in Oct. Today they have told me that was incorrect and they should have said £103K. What can I do? What are my rights? Detail. I am remortgaging at the end of a fixed deal and as part of that process I asked for a settlement…
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Can anyone confirm... Remortgage value query - First Direct
Hi all, I've done some searching and seen a pretty common response to similar questions but this flies in the face of what First Direct told me a few months ago... Basically I have an outstanding mortgage of circa 71k, house value has increased, mortgage deal has ended so I'm looking for a new deal and releasing some…
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mortgage - help / advice
Hi Folks new to the forum hoping for some help / advice. I am hoping to move house in the new year. I have a default loan which is settled and the 6 year default period ends in Jan 15. I was wondering what happens after the 6 year period ends, does the default still affect me if I applied for a mortgage ? I earn approx 40k…
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Endownment Miss-selling
Can anyone help? I have received letters in the past from Aviva informing me that my policy is expected to be between £5000 - 10,000 short of its target amount (due to mature Apr 15). I have contacted both them and the FSCS, and both organisations have stated I am not eligible for compensation. Is that the end of it! Or is…
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Mortgage portal on maternity leave refused
just wondering if you have any advice for me. We had bought a house for £161,000 and sold it for £200,000. We wanted to port our mortgage to a house which we bought for £184,000. All was going well until our mortgage company found out I was on maternity leave, to which they said unless I was going back to work in three…
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Building society credit search
Just checked my credit report and it shows a credit search from a building society, 3 days ago,which I knew nothing about. I suspect it may have been done by my broker, can brokers do this without prior consent? I do understand the reasons for doing it as it was looking a bit grim with the FMA put in elsewhere but surely…
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Extending the term
Hi Wonder if you can help.... If you extend the term of your mortgage and not borrow any extra to reduce the mortgage payments do you have to still go through the full affortabilty process and credit checks etc.... Many thanks
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Anyone had a mortgage approved after using a payday loan in last 12 months?
Hello Has anyone had success with having a mortgage approved after having used a payday loan in last 12 months? My husband took a very small (less than £100) loan with wonga 4 months ago to pay for major car repair (used savings to pay for the rest) just before payday. He paid the loan off in full once paid. He was unaware…
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Family mortgage....
Dudes Help a mortgage noob out please... Basically my wife and I would like to buy half of my parents property and then we would all live in in together as tenants in common, the 4 of us owning 25% each. We have no debt and enough of a deposit, assuming we meet standard lending criteria, are there many lenders who will go…
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Recent Nationwide mortgage application experiences
We are hoping to apply for a mortgage in the next few months. We have £50k deposit and £93k joint earnings plus about £12k pa bonus. The 2 flies in the ointment are I will be clearing about £40k debt next week so need to wait for it to drop off my credit report and our term is restricted to 14 years due to retirement age.…
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How much of the house is he entitled to?
26 years ago my father-in-law(divorced) agreed to purchase a house with his son to enable them to get on to the property ladder. They purchased the house at approx £64,000, each having an equal £32K endowment mortgage. Approx 5 years ago father-in-law settled his £32K mortgage as he had made extra payments to the…
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Mortgage Soft search rejection
Hi all, Just been to see my mortgage advisor and I failed a soft search on my credit report. I've just looked at a copy of my credit report and the particular report outlined a 3 months worth of arrears on a old bank account which was closed with an overdraft which I believed was paid off. Anyway I've settled the account…
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Help to Buy Mortgages and missed payments
Hi guys, Basically this HTB scheme seems a good deal. But I'm reading that your credit file has to be squeaky clean. As it stands; I have 1 x defaults which falls off in Jan 15 And 1 x CCJ which falls off July 15. I am aware that when they go that's it there gone but I have up to 5 late/missed payments on one account that…
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Nationwide mortgage application delays
Hi, I have applied for a Nationwide mortgage through a broker. The full mortgage application was made about 3 weeks ago and valuation came back ok. Since then, every 2-3 days they have requested extra documents one at the time, followed by periods of silence. I’ve been pestering the broker almost daily as I didn’t wait…
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Question about end of mortgage term
Hi All, I have an Alliance & Leicester mortgage (now with Santander obviously). I've had the mortgage about 14 years now. The mortgage is actually made up of two loans since I took some further borrowing back in 2005 - the further borrowing makes up 30% of the total mortgage. For some reason (I obviously didn't even notice…
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Family Arrangement
Hi guys, I'm new to the forum, and would like to know what you guys think of this proposal I've been considering. In my head it is win win but I have a strong feeling that I'm not considering something major, let me know what you think. Basically, me and my partner bought our first house in Yorkshire for £180kish one year…
