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Product Transfer
I am thinking of doing a product transfer from my 5 year fixed rate deal at 5.99% to a 2 year fixed rate deal at 2.68%. Would I need to pay any early repayment charges to do this even though I am staying with the same lender? Thanks
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Mortgage help
Hi and thanks for reading. Here's my situation. I have an £11000 mortgage on a home worth £130000. My wife and I have divorced and rightly she wants her share. She has asked for £36k with a £14000 charge as we share the children. I am a self employed taxi driver and cut my hours so she could work. This has led to my…
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Shared Ownership lease and Nationwide
So we got our mortgage offer from Nationwide this week, for a remortgage of our shared ownership flat. I have now discovered the lease doesn't meet Nationwide's standards in relation to the rent. Nationwide say the lease shouldn't allow for the rent to be increased by more than 5% a year but our lease allows 7%. Does…
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How to help our Sons
Good afternoon All, I wonder if anyone could give me advice please? We have two Sons, one in officer training in the RAF and one at university. The one in the RAF has always said that he wants to buy a property as soon as possible as he will be living in mess's during his current twelve-year contract (although he aims to…
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Early exchange ... Late Completion
Hello all, We are purchasing our first home and have our mortgage offer in place with the halifax. The vendors are purchasing a park home and this can only start to get built after we exchange which will be anytime soon. We are looking at completing in March 2015 as this is when it will be ready and they will be retiring…
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lease extension at completion - will a lender commit?
We've found the flat we want. The complication is that the vendor has said they are in the process of extending the lease at the moment and I'm told by the EA that the extension will take place at completion. I'm guessing this is because the vendor doesn't have the capital to do the extension otherwise(?). I am guessing…
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Credit checked to port a mortgage?
Does anyone know if you are credit checked to port a mortgage? Been with Halifax for 10 years. Due to a default on credit report they have declined. But are we credit checked by Halifax to keep mortgage with them only changing address of property?
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Should I wait for Mortgage Rates to drop?
We have accepted an offer on our house to upsize to a larger house and have our mortgage agreed in principle (for a 5 yr fixed mortgage). Now I hear that Mortgage Rates are likely to fall in the next few months. We've been advised that we can easily re-sell our house for around the same amount (as it is an ideal first time…
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Overpayment Thoughts
Guys, I've just had a meeting with a broker and he's confused me. I was under the impression that: 1. Going for a 35 year term instead of a 25 year term (everything else is the same) and paying off the equivalent of the 25 year term each month via over payment would mean that the 25 and 35 are equivalent except you have…
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Being a 'Rate Tart'
Guys, I'm on the brink of signing up for my first ever mortgage, I'm going for a 2 year fix, I know people may suggest others but for my situation I'm almost certainly going for this. My question is what happens at the end of the fix... it seems I have two choices, both of which seem a bit rubbish, unless I'm missing…
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TSB remortgage advice
Hi all, We have our current repayment mortgage with UCB Home Loans, at the time we took this out DH was self employed so we could not get a 'standard' mortgage from a prime lender and self certified our income (truthfully!). For 8 years now we have had two Limited Companies with proper accounts, both doing well, but have…
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General mortgage questions
Hello We recently started a new mortgage, it is a two year discount product, currently at 1.7%. The mortgage balance is £415k, the house is worth approximately £650k. Mortgage is £1,800 a month. We also have a flat that we rent out, the mortgage is in my wifes name only, it is on consent to let and has been for a couple of…
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How to approach mortgage underwriters
Hi. Can someone help? How do I approach the underwriters for Halifax Mortgages. The declined our mortgage application, but I was advised to approach the underwriters. Anyone any experience with this?
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Realistic mortgage expectations
Hi all, I am utterly new to mortgages and the lingo, having just lived rent-free with my dad until now. But very recently I have been considering making the jump and investing in my own home. I am 37, earn 36k/year, plus minor extras (e.g.: overtime/bonuses which might net me an additional £1k/year maybe), I have zero…
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Flood risk with the new flat identied
Hi, Buying a flat and the environment search has identified that the flat is within 25m of surface flooding area and >25m of river flooding. Using the Environmental Agency flood map reveals that the building itself is not in Flood zone, just close to one. Solicitors are requesting a Flood Risk Search now. The question is…
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BTL / Share of Freehold
I am thinking of buying a flat that is share of freehold (I have confirmed that each flat has a formal leasehold, but all owners have a share of the freehold company, and the paperwork on the lease etc looks kosher) I am getting confused as I am being told that for BTL properties, freehold flats are not allowed. Am I right…
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"Going to offer"
Hello Does anybody know if the following statement means the decision has been made and a remortgage is going ahead, just with the final paperwork being drawn up. "The lender have confirmed the mortgage will go to offer soon" Could this still be waiting to go through the underwriters.
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Mortgage rules after bereavement
Hi, I am looking for some guidance My partner has been diagnosed with a terminal illness and I am trying to get a better understanding of my options with the property. We have a property with a mortgage half paid and in need of a number of costly repairs. One he passes I would be left with just enough money to repay the…
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Fixed rate or tracker mortgage?
My fixed rate has come to an end. Should I tKe out another fixed rate mortgage or go for a tracker mortgage? Ltv 75%.
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Solicitor Charges for Redeeming Mortgage
Mortgage cleared apart from £1 and I am told that I can leave this debt standing for another 8 years or employ a solicitor to finalise the mortgage for me now. Can someone tell me what's involved and a rough idea of the cost in Scotland. I ask this because when I bought the house, solicitor's quotes varied by some £600.
