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gifted deposit from a loan?
Hello, My in-laws are currently wanting to buy a flat. It is 120k and because it is listed, their broker recommended a 20k deposit. I have 2 question: 1) would they be able to buy it on the mortgage guarentee help to buy scheme and so only need a 6k deposit? 2) they were considering buying it only in the wifes name as she…
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Natwest mortgage - any experts?
Am I right to believe that Natwest will only instruct the valuation survey after the underwriting process has been satisfied? Since we applied we were told the application was going through underwriting. Natwest asked for passaport copies and there was a question about a credit on my bank statement. Valuation survey took…
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Fixed mortage ending - When to contact Lender for new deal?
My current Fixed rate will end within the next 3 months. When would it be ok for me to contact the Lender to see what new fixed deal they could offer me? Also, could I call them at any time and ask them what they consider the current Value of the house to be (and accordingly current LTV)? Since we bought the house overall…
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ReedRains Independant Advisor - am I forced to pay fee???
Hi all, I did a similar thread but about mortgage declines but this is about Reed Rains and actual fees. I don't want to offend any advisors out there who do their jobs properly but I have a real issue that has cost me £700. It sounds like I am being cheap and cheeky, but am a FTB and feel I have been led into £700 trap…
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Santander Nightmare
Hi, Anyone else had problems with santander? We had a MIP accepted so we put in the full application monday and got a call thursday saying they can offer us the mortgage but 3k less than we asked for so we said thats fine, the girl did whatever she needed to do on the computer for her to then say 2mins later after offering…
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Reposession house value vs 'normal' house values?
Hello all, Hoping you guys can help. I'm looking into remortgaging...but feel like I'm a bit out of my depth the more I look into remortgaging. Current lender Santander, has valued house at 90,000 using a repossession value, with a LTV of 85%. Another lender (Furness Building Society) has told us that in fact we would have…
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Bad credit! Any chance of a mortgage? Anyone with success stories 😊
Hello Thank you for reading my post! I am trying to sort my finAnces in preparation for a mortgage but my finances are poor! I have a salary of 26000 A deposit of 12000 I would like a house for around 75000! I have 3 defaults as follows Default a 236 pounds 2010 (will be satisfied January) Default b 436 pounds 2014…
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Broker problems
We are in the middle of a mortgage application and have an offer. Have recently become aware a number of inccuracies in data submitted to lender eg time at address wrong, salary wrong, debts listed at much higher that they are etc. Broker says this is all ok and no action needs to be taken. Mortgage offer says we need to…
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When to prepare for remortgage plus a few questions
My current mortgage deal ends in July 2015. How early can I start the application for a new mortgage? I quite keen to go for a 10 year fixed. The only way is up in my mind and it's not often that one can fix a mortgage at arund 3.5% for 10 years. This is assuming interest rates don't rise between now and July 2015.…
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Increase equity vs. saving
Apologies if covered elsewhere and for being similar to an earlier question I posted (although definitely different). We want to buy an additional property in five years without selling our current one. At present we owe £150,000 and it is valued at £350-80k. Mortgage good at present- is a hsbc tracker (base rate +1.5%)…
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Declined after AIP and no CCJ (20k available credit) - help
Hi all, Thank you all as there is a mountain of threads to do with declines which has been extremely informative. I have no CCJs no missed payments and am 35 yrs old with years of active credit. My available credit is 20k while Experian list my outstanding credit/available is at 14% (I have always been told to have some…
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quick question on deposits... pls help!
Hi all - I'm a tenant, been in house for many (many!) years, Landlord is old and willing to pass house on to us for a reasonable cost - This will be about 50k less than similar houses have sold around us. question is... Will the amount of deposit required be based on the sale price (200k) or on the banks valuation (likely…
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remortgage?
What are the main reasons why people remortgage? Can one reason be because your behind in payments? What's remortgaging? A new contract with a new lender?
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Pay off mortgage or switch to offset and hold mortgage amount in savings
As per the title it looks like in the next 12 months I'll have the money to pay off the mortgage, but I've been thinking that perhaps I should switch to an offset and just hold the balance in the savings account. I want to change career path in the next few years and would have to take a pay cut for a few years. Also I…
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Cashing in Endowment Early Scottish Amicable
Hi, I have an endowment from Scottish Amicable taken out in 1990 to cover £25,000. It is due to mature in June 2105. The projected shortfalls on my red alert letter are as follows (2014 figures) 1.5% growth £18,300. 4.5% growth £18,900. 7.5% growth £19,600. I know that it's not usually a good idea to cash in an endowment…
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Could there be a problem?
Hi all, I'm hoping a broker can give me some advice here please. I have had an AIP from Leeds Building Society to buy a new build house via Help to Buy. The house will be ready between April - June next year according to their most recent estimates. In order to process my full mortgage application, my broker (who I was…
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Help Please
Hi can anybody give some advice please, going through process of purchasing our house given a dip with Halifax thro our FA, the problem I may have is partner has only worked for 4 months with her employer & although she receives a payslip its only printed on a4, the question is will the payslips be acceptable (Halifax are…
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Endowment early surrender
Hi, I'm not sure if this goes here as there seems to be a lot of talk about mortgages and not a lot on endowments but here goes. I have an endowment that i've been paying into for 16 1/2 years. Initially bought to pay off mortgage but I switched to repayment a number of years ago and kept this going as a savings plan. I…
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Nationwide mortgage computer glitch
I would like to draw the attention of customers of Nationwide who currently have a mortgage with them and who are currently re-mortgaging with them to check the fees and charges added to the mortgage account. Mine was over-charged by £3,897 and it wasn't a human error. It is a glitch in their software so I believe it would…
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When to make lump sum overpayment?
We have a HSBC mortgage, currently on a 2 year fixed at 2.49% interest. We currently pay the maximum overpayment monthly (20% of our monthly payment) but I am considering a £800 overpayment at the end of the year. This will however incur an early repayment charge - I think this should be no more that £20 for this amount.…
