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Self Employed Mortgage - 1 Years Accounts
Hi All, I wanted to provide some examples to see your opinions on the following mortgage situation. Individual Situation - Director of limited company, with 1 years accounts filed. 100k profit showing in LTD account. - The director has also taken 45k via dividends and salary. - The director has 45k personal savings as well…
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Comparing product fee vs fee-free mortgages
Hi, I was wondering if someone could help me work out which of the following 5 year fixed repayment mortgage deals is cheaper. Deal 1 (with fee): Initial rate: 2.74% Product Fee: £999 Minimum monthly repayments (for a 20 year term): £541.67 Deal 2 (without fee): Initial rate: 2.94% Product Fee: £0 Minimum monthly…
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Shared ownership - next steps help
Hello I bought my SO one bed flat in Hertfordshire just over a year ago. It was then valued at £155k (full amount) and is now £175-185k based on recent sales and Mouseprice/Zoopla valuations. This means my share of £62k may be worth around £72k at the moment. I owe £52k on the Halifax mortgage which is fixed at 5.69% until…
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solicitors asked for 10% exchange deposit
I am on the way to, fingers crossed!, exchanging on my first property. I received an email from my solicitor with contracts and reports and a request for a 10% deposit for exchange. They said this was standard in UK an Wales. Now I am some what confused as I thought this was 5%? The total,property price is 112,500. I have…
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Removing partner from mortgage without funds to remortgage
Due to an impending marriage break up I am trying to remove my wife from our joint mortgage. To do this I am trying to re-mortgage the house to free the equity and give her, her share. The main problem is that, my wife has been dealing with my finances and I've been left with a poor credit rating of about 295, so can't get…
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Experian Soft Check Rejected!!
Hi All, I've recently gone through the lengthy 2 hour mortgage eligibility check with Tesco mortgages as part of a remortgage application. At the end of the conversation, the mortgage advisor submits a credit soft-check (the one that doesn't affect your credit score). For my application this check unexpectedly came back as…
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First time buyer looking for advice.
Hi guys, long time lurker, first time poster. I'm after a great deal of advice but going to narrow it down for the time being. My partner and I need our own place and having rented in the past I am unwilling to do it again as I'd rather buy (my choice.) We are only now starting to look into our options, one that has stuck…
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Concernednot all the overpayments are being applied
Hi all, I've come here today because I noticed overpayments I am making were not reducing the balance by what I thought. My mortgage was at 41072.74 at the end of the deal. I moved onto a SVR rate which allows unlimited payments. So I decided I would overpay to get the balance to a round figure of 40,000. So this is where…
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should I stay on SVR for time being?
I was originally in a 2 year fix but it expired nearly a year ago and I've been paying a rate of 3.89% on my mortgage. What I like about being outside a deal is the ability to overpay without penalty. What I don't like is the higher monthly payment. I would be surprised to see interest rates go up in the next year so I'm…
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Mortgage search
Hi Does anyone know how long a mortgage search stays on your credit score? Thanks
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25 years or longer?
I spoke to a MB about a property that's on at offers over £67k. It was just a preliminary chat and I got a MIP at the end of it but he asked me how many years we'd want the mortgage over ... Obviously I know that the longer the mortgage the lower the repayments but more interest? We are young 22/25 so plenty time ahead of…
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Borrowing more on fixed rate mortgage with now lower combined salary
Hello We have
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New Stamp Duty, Staircasing.
Hello, Does anyone know if we will benefit on the new stamp duty on our staircasing remortgage? We are staircasing up to 100%, our solicitor is claiming she is unsure whether we are likely to benefit so she is recommending we pay the larger amount. Thanks Bernie
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Do I need a new Broker
Sorry for starting a new thread, I had asked the question in the "waiting on a decision thread" and the "Halifax thread". Completed a DMP 12 months ago, have various defaults all over 3 years old and satisfied 12 months. Gave broker my 3 credit files to look over. My credit behaviour has been very good since the date of…
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Mortgage for an expats who aren't really expat!
I'm currently in Australia with my partner. The house we own in the UK is up for remortgage in March (a week after we return to the UK). We called London & Country to try to lock in a good rate now (they tried contacting us first) but they told us that they couldn't help us as we're expats. The thing is...we're here for a…
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Mortgage Advice
Whilst I'm not in any position whatsoever to get a mortgage YET, I have the next 10 months to make cut backs, remove contract items and reduce secured debts i.e. hire purchases, but need to know if it's all really worth sacrificing those for £2000 less deposit on a mortgage. Aiming to save around 10% deposit - £12k plus.…
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Early repayment question?
Hi ive only just joined the forum and wanted to find a bit more about mortgages as next year I'm hoping to have a mortgage :) the question I have is if say for example I take out a £70,000 mortgage at 95% LTV and lets say for example the cost of this mortgage with the interest over the full term is £100,000. So I have my…
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Choosing a Mortgage Advisor- Help!
So, our offer got accepted today (myself and my partner; we are FTB). Yippee! But I am now trying to choose between two brokers. We have been communicating with one that I found online, he has been very good so far but is based in Scotland (we are in Buckinghamshire). After the offer was accepted, the EA asked us to go in…
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Mortgage term adjustments
Hi, I've been on the nationwide variable since our deal ended in 2010. I'm concerned the rate will go up next year and I was looking at the online switcher. I have 17 years left at present but if I increase the term to 30 years it drops the monthly payment by £160 on a 4 year fixed deal. Money is a bit tight at the moment…
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Leaving SVR mortgage
Hi, my 5 year fixed rate mortgage is ending soon, I have 27 years left to go! :eek: When it ends I will be saving over £200 per month by going onto SVR. My LTV is currently 86%, so could I go onto SVR for a few months and then switch to a fixed rate deal based on a 85% LTV?
