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Concern about affordability & C.S.A! Please help!
Hi, Ok so I really hope I have posted this in the correct section and apologies if not. My partner and I reserved a new build home about a month ago and are due to exchange tomorrow. The property won't be complete until March so our expected legal completion is end of March/beginning of April next year. We had our Help to…
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repossession help
hi, too cut a very long story short, i find myself in the position of having to take back control of my ex's house, as its about to be repossessed and my name is still on the mortgage, he cant pay the arrearrs and neither can i, but i can pay the mortgage and some towards clearing the arrears, i am sure that the judge…
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Changing Title Deeds from Joint to Single Ownership with Guarantor Mortgage
My mum is guarantor on my mortgage with the Halifax. We wanted to change the title deeds to transfer ownership from joint names to my name only. No money will be changing hands. I spoke to the Halifax and they said they are happy with this. We do not want to remove my mum as guarantor as they said they would have to make a…
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Virgin offer finally!
Following the inspection by virgin in early November the offer for the buy to let re-mortgage came through. How long will it be now until the funds are requested? the solicitor has been undertaking and all that's come back fine. So happy :)
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DIP expiring soon
For one reason or another we cannot find a house we both like right now. Just viewing houses weekly. Our AIP with Nationwide expires on 28/12/2014. Can I take it that I will need to apply for another AIP or maybe just go straight to application? Anyone else been in this situation?
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Mortgage - am very confused.
Hello all! I owe about £22k on a house valued at about £85k by the lender. (Houses locally are on the market for a lot more, though I know that doesn't mean they go for this). I've got 7 years left on it as a straight repayment mortgage. Is it possible to remortgage to release equity on the house, and extend the repayment…
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Mortgage and Exchange of Contracts/Completion Gap
I am trying to minimize the gap between Exchange of Contracts and Completion. My mortgage offer has been issued and I am planning to sign contracts soon and have completion before Christmas. Usually banks need a few working days (possibly a week) to draw down funds, but is there a way to speed it up? I read somewhere that…
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Homebuyers report - status 3
Hi, I just got our homebuyers back and whilst most things are 1 or 2 statuses there are a few 3 status parts. These are - Mains Gas Mains Electricity Central Heating Hot Water It doesn't state a problem it just says they need checking. Is this something major to worry about?
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Can I use my existing house as collateral
Hi Just have a question, I bought a house and I have about X equity in that, I can not re mortgage it yet as still under 2 years fixed but will be out of it in june. I have just seen another house which is about 300k and ideally would like to buy it but I only have 10 percent deposit, this is going to be a buy to let, if…
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Nationwide mtg - when do they instruct valuation
Anyone recently applied for a mtg with nationwide if so when do they instruct the valuation to be carried out - straightaway or once they've decided mortgage has approval? Just applied online and submitted all paperwork via branch so curious. Thanks
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Changing ownership from joint to single
Hi all I have separated from my husband and I am taking on the house, I am in the financial position to do this however I begrudge paying all these extra costs. The mortgage company have told me I need to get a solicitor to sort out the land reg but my ex and I are quite amicable so it just seems that it's all money for…
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Equity release on Wates house
Can anyone help. My parents are both past retirement age but my mother has carried on working as there are a couple of years left on the mortgage. Because of health reasons my mother now really needs to retire. We have looked into equity release as an option. The property has been valued at £110K and the remaining mortgage…
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Should I cash Endowment with nine months to go?
Hi All, I have an endowment policy that matures on September 2015. It was originally a Scottish Amicable with profits policy, and it was taken over many years ago by Prudential. It is running a bit short and I have savings that we could now pay off the mortgage with nine months to spare. The question that no one can seem…
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Homebuyers Report
Hi everybody - quick query regarding the Homebuyers Report. We had one carried out last Monday. Our solicitor has asked that we send a copy to the Estate Agent - is this right? This is the first time I've bought property so I'm no expert but I would have assumed our solicitor would have passed the report to the seller's…
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Mortgage advice
My aunt has inherited a family home worth £150,000. The house has a tennant in it. She wants to sell this house to her son so that he can keep renting it out as neither of them wish to sell the house and she would like some money to enable her to enjoy her retirement. He is finding it difficult to get a mortgage because…
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Could we get this level of mortgage?
I have been looking at various affordability calculators but they seem to give vastly different numbers. My partner and I are hoping to get a house next year, but unfortunately the area is expensive and we will be looking at £250,000. We will have £50,000 deposit, gifted from his dad. His income: £23500 (+bonus, this has…
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Pre flight checks for first time mortgage
Hi all, After doing a fair bit of research over the past few months, I thought it was about time I signed up on here and asked the questions which have been bothering me! I'm planning on applying for my first mortgage shortly after Christmas (joint application with my girlfriend), however a string of stupid/careless…
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Property conversion & mortgages
Hello, I'm looking at buying a property (freehold) which is: a) a little on the large side for us right now; (b) needs some work; but (c) easily split-able into 2 flats with an easy route back to creating a single large residence. We'd need to be able to get some rental income from the top flat to make this work, but we…
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Rate change not enforced
I have recently remortgaged my home for 275000 fixed at 4.69% for 5 years using a mortgage advisor. Having completed the paperwork I recieved a phone all from my advisor 20/11/2014 saying the bank I am taking the mortgage with will cut their 5 year fixed to 3.99% and was formally seeking my authority to change rates,…
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Joint Mortgage and Separation
Hello all I am hoping to get some information on this issue. My SO and I purchased a new home around 2 years ago, with them putting in the deposit but us gaining a joint mortgage (we are both on the deeds and mortgage as equals.) Since then we have equally paid into the mortgage and ground rent. The house is worth…
