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Unsecured debts & mortgage application
Hi all, I'm starting to look at buying our first home. Gross salary is £50k pa, with about 5k of hourly pay on top. We have about £45k available for deposit, but it's coming from a third party, when we are ready to bite the bullet. However, I also have quite a bit of unsecured debt. £5k on a loan with repayments of £150…
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pay off or keep mortgage?
I can afford to pay off the rest of my mortgage :) But is there any reason to keep one at all ? We have v good financial history etc etc. Will prob need another in a year or so when we move to bigger house. thanks!
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BTL mortgage question
I have been looking into BTL mortgages and have an question regarding the 125% rent required and LTVs. You can get BTL mortgages up to around 75% LTV however I cannot see how the rent required for a mortgage of this LTV is achievable once you apply the 125% of mortgage payment required at the stress test percentage…
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Negative Equity problems
Hi, Just a brief one really: Mortgage currently about £98K left to pay, property worth about £85K at last valuation. Joint mortgage with sister, I have bad credit (recently became debt free, hooray!) - is there anything we can do regarding re-mortgaging? As I see it there are two issues: the negative equity & my bad…
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urgent advice for my mortgage application please!
Previously I was asking about cancelled applications.... but thankfully my broker keyed a new one and the last couple of days it has been in and out of assessment. Nationwide btw. Today my broker has said yet again that HMRC have declared by childcare as £1300 per month?!!!! On application £800 which is correct! But…
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Has anyone been "behind " on unsecured part of mortgage ? I
I am an nram customer and have received a letter stating I'm behind on the unsecured part of my mortgage. I make the same payments every month on time and this is the first correspondence I have had from them, call centre is closed just now was just wondering if anyone else has had this situation as I don't understand how…
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Pay mortgage or skip the payment??
Hi there Im looking for some advice. I have just accepted an offer on my property, and its going through the solicitors at the moment, exchange is likely to happen in 4 weeks or so. Its chain free, so I have a buyer and Im going into renting, so no chain from either end. I have made a good amount of profit on the sale, and…
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Mortgage calculation advice for FTB..
Hi, FTB here, trying to get myself the best mortgage and I'm getting a bit confused with it all.. I think I'm understanding it correctly but what I'm coming to and what my mortgage advisor is telling me doesn't add up.. Could do with some clarification.. Trying to compare two mortgages, both 90% LTV. One has a rate of…
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Money saving efforts for FTBs
I feel as though this topic surely must have been covered somewhere else, but I can't seem to find it anywhere! So I hope it is okay to start this thread…? Just wondering who else is saving for their first home? And what lengths are you going to to save up? I'm hoping to buy my first house in the next year and I’m on a…
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Elder Sister Mortgage Mess
I was asked 12 months ago by my sister, who is now 84 years of age, to asisst her with some financial matters. When going through her paperwork to my horror I found that what I thought she was paying as an endowment to pay off her mortgage on the 28th August of 2014 was in actual fact only a whole of life policy, which she…
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42.6 ltv
Hi all, Just wondering what the likelihood of my Wife and I have of getting a mortgage? My Wife has an impeccable credit score and mine is not so impeccable. I have defaults in the last 12 months. We require 100k and have 135k deposit. Any help in this matter would be greatly appreciated.
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100% retention
Hi I had an offer of £63k accepted on a house that was on the market at £70k.... one next door sold in 2010 for £80k in better decorative order. I knew it needed some TLC but in my view was habitable... Valuation report came back disastrous... valued at £50k now and £55k with work done and a 100% retention... possible…
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Endowment reached value early! Cash in or keep it going?
I have a £37k Countrywide assured endowment policy for the interest only part of my mortgage which has reached its value two years early. I have been given the option to cash it in and pay off the mortgage or keep it going and build up a surplus. If I cash it in I will save £139 per month for the policy and £38 per month…
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Second mortgage on new house?
Hi all, Just looking for a bit of advice please I currently have a house with a mortgage at 68% ltv. We have gone halfs on a piece of land (paid cash) with a friend (investor). My oh is the builder who is building the project and the investor has borrowed the funds to pay for the building work. We are considering moving in…
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Joint Mortgage
Can you have a joint mortgage with one person having a 0 hour contract? RBS said they wouldnt take my partners income in to account because off this, therefore her name would not be on the Mortgage and because of that her name will also not be able to be on the deeds. I earn enough with my out goings to get the mortgage in…
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Easy Home Ownership - Who are they?
http://easyhouseownership.co.uk/ What's the deal. Presumably inflated rate of "rent" and clauses but has anyone actually ever used this outfit?
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FTB verbal offer accepted
Hi; My friend has put an offer in on a house in Scotland that has been verbally accepted. She is off to a solicitor to put the offer in writing tomorrow. She is then going home to England. She was given a DIP from a mortgage broker she spoke to on the phone; but has since decided it is not convenient to use the broker as…
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Will I get a mortgage
Hi I'm currently named on a mortgage with my ex-wife, she makes all the payments and is fully up to date, she will be taking me off very soon hopefully but in the meantime will this stop me getting a new mortgage with my new partner?
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Employer refusing to give letter confirming employment to lender
Just as in this thread, my wife's employer (a big national retailer) won't provide a letter detailing my wife's return to work date, hours, and hourly rate to our lender (HSBC), although they will confirm the details by telephone, if we provide HSBC with a letter of authority, which we have. HSBC say this is no good, and…
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changing name on title deeds after husband has passed away
hi how do I go about removing my husbands name on title deeds for mine. he passed away 17 months ago and I've paid mortgage since, but want to secure my home? we've lived here 12 years now and I have 3 dependant children ?
