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Effect on mortgage advice
Hi just looking for a bit of advice please. We are now saving to move house but probably won't be for a year or maybe 2 yet. I am looking to lengthen the term of a personal loan I have so that we can save to move (house currently in negative equity) so we want to put all money we can into moving, my question is because I…
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Home buy - buying out!
I'm new to posting but I'm always reading the threads on here. I havnt come across this issue ( correct me if I'm wrong) so I thought I would post to see if anyone else is in the same boat. 4 years ago we bought our first home under the home but sceme. We put down a 5% deposit , leant 30% from homebuy and the rest we took…
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Credit Card Limits impact on Mortgage chances
Hi, Just had an offer accepted on a house and in the process of applying for a mortgage. I'm thinking of reducing my credit card limits to improve chances of getting the mortgage accepted, what level would people recommend going down to maximise a credit score? Income = £55k Credit Card 1 limit = £8000 Credit Card 2 limit…
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correct mortgage category
hi folks, long time reader, first time poster here with a daft question :) I know what a first time buyer is, I know what moving house is, and I think I know what remortgaging is, but i'm not sure the right box to tick for my circumstances: I bought a run-down property for cash, have now renovated it using cash and some…
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Anyone used WHICH?
Hi Has anyone used Which Mortgage Advisor service? The fees are £250 to begin the process and then another £250 if the mortgage completes..this seems quite good, although I don't have much knowledge of what brokers normally charge. Thanks
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Does a 15% deposit make a huge difference?
If we are going for a £150,000 and put down £15,000 would it make a huge difference, risk wise, than if we put down 15% (£22.500)? I know we would get better rates but does it make a lot of difference when underwriting?
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Refused Mortgage
Hey not sure if you can help? I have found an apartment to buy that is subject to the section 106 agreement. Due to this then it is only Halifax that will lend me a mortgage. They have done a credit check and said I have a low credit score. Therefore rather than lend me the 95% as originally agreed they want me to find a…
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Will I have to take out a new mortgage after the death of my wife ?
Hi, My wife recently died and I was wondering what happens to the mortgage now as we were jointly on the mortage (although I was the only party who paid it each month)? Will I have to take out a different mortgage or will my wife's name just be removed from the mortgage documents?
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Proof of deposit
How do you prove deposit monies if some of it is tied up in the equity of the current house that is being sold?
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Is this possible?
Hi I'm after some help. I am looking at purchasing a new build property for £265,000. I will have a 5% deposit and am looking for a 30 year term I am 36 years old. I am employed with earnings of £60k a year. I have one credit card with the balance paid off each month. I had an excellent credit score however upon looking…
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Overpay mortgage or invest in ISA to overpay mortgage?
Hi, I have a question, my mortgage repayments are around £560 per month, I overpay to £800 in total and I am able to overpay more. Am I better off maxing out an ISA over the tax year and putting that into my mortgage in 1 lump sum, or am I better off putting it all into a mortgage in monthly overpayments? I turned Radio 5…
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Nationwide first mortgage payment
Our remortgage is due to complete with Nationwide at the end of this week and am a bit confused over when payments are due. Our normal mortgage payment will be £430 but I am told the first payment will be higher around £690 (to cover interest and first months payment). The mortgage broker says the first payment will be…
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nationwide mortgage cancelled after DIP
Hi there After 7 agonising weeks Nationwide cancelled our Mortgage application as 1 of our 3 current bank statements Did not show a rental deposit we get from our other property. We explained that our tenant had a great deal of things to fix and change this month and that we would deduct from the rental payment. We have 10…
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Stay employed until next mortgage??
Ive completed my current mortgage 2 weeks ago. My current property is valued around £260,000. In the next 1-2 years when my oldest daughter finishes primary school, we are looking to move into something a little larger, and in another location with better schooling. For this example, lets consider property price stays the…
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Mid terraced or end terrace?
Hello, just wondering what other people would favour if you had to choose one of these. Mid terrace that was much larger with a balcony overlooking woodland, an ensuite master bedroom and separate lounge and dining room, but with only one parking space a short walk from the property and very little visitor parking.…
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How long for paperwork?
I cleared my mortgage over 2 weeks ago now. I have checked my online account and the mortgage account has been removed etc. so it's all cleared and gone through fine. However, I assumed I should receive some paperwork confirming the mortgage has been cleared, as well as the deeds to the house etc? Am I correct in assuming…
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Adding name to mortgage
Hi, I've purchased 2 buy to let's on 2 year fix. I may sell once the mortgage term finishes but there could be a potential 30/40k profit on each one. I'm wanting to add the wife to the mortgages to free up 22k on capital gains, the mortgages will both be going through next month so thought it would be easier to do before…
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Mortgage for Timber Framed house
Hi there, My husband and I have decided to develop a parcel of land around our home which the planners have said will probably be fine, just need to submit plans. However, neither of us are property developers, built our own home or anything. We have been researching into the various options open to us and one we are…
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Transfer of equity problem.
Hello I have recently received a remortgage offer with a view to providing my wife with an amount of equity for her to use as a deposit on her own house with her name coming off the deeds and me paying a transfer of equity fee as we are splitting up. I have received today a letter from the lenders solicitors who are…
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what could i raise on a BTL?
İ have no idea of the BTL system which currently runs in the UK because i live in Turkey at present. İ know in the near future i will have to raise some captial to to rebuild my Turkish home. A sum of about 30k GBP. At present i have a mortgage of 55k on my uk home against a property worth 200k. At the moment my nephew…
