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Help explain LTV when in negative equity?
Hello, just need someone to help clear something up. If in 2007, a house was bought for: £120k with a 10% (£12k) deposit (Interest only) However, similar houses in the street are now going for only £85k as the crash has never recovered. If I was looking to remortgage, but needed a 20% LTV.... do i just need to add another…
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Can you transfer your Mortgage?
Hi, It is my first time posting on this forum and I am looking for advice. I have a one bedroom flat and is looking to move in the next 6months due to having a toddler and staying in the one bedroom is not suitable. At the moment I cannot afford the costs of moving ie Home reports, agents fees etc. My brother is interested…
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Post Office Mortgage Refusal
I appreciate theres probably not enough to go on here - but bear with me! I recently applied for a Post Office mortgage through London & Country with my partner - 5 year fixed, 4.05%, 90% LTV (£200k property, £20k deposit). Unfortunately, it was rejected - specifically I've been told that the second applicant (my partner)…
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Relocation to gf's town, buying into mortgage
Hi, I'm putting this in mortgages but it's really a broad, complex situation that I'm trying to get straightened out. My girlfriend, who I will call Kestrel, and I have been together for a little over 18 months and are planning to move in together. We live and work about 100 miles apart from each other, so one is going to…
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Buying a share of freehold
Hello all, I have just been offered to purchase the share of freehold for my flat. It is one of three flats in a converted house. My mortgage is with Woolwich, and a condition of the mortgage was that it was a leasehold flat. My question is, if I purchase my share of freehold, is this invalidating the mortgage? I'm not…
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remortgaging on first buy scheme
hi all, few little questions that i have if anyone can help?? our 2 year fixed rate has just come to an end on our flat bought on first buy scheme. at the time of buying we bought through bernard marcus and were "sold" ( i see this now) their lifetime mortgage advice. when i went to see our in branch advisor he told me…
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Paying Stamp Duty by Credit Card
I'd like to avail of the benefits of my British Airways AMEX by paying my £17.5k stamp duty on my credit card. The 1.4% charge for paying by credit card is worth the benefit to me. I understand the Mortgage Lender guidelines state that the solicitor has to be in possession of cleared funds before completion takes place. I…
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Mortgage for Unprovable Income
Ok I'm looking to get onto the property ladder over the next 12 months, however despite been nearly 40, I have never had a "proper job" I make what I consider a reasonable income, and am well on the way to having a decent deposit. Saving regularly, and keeping up with bills, rent etc. However my income isn't "regular", I…
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Mychoice homebuy scheme rapayment
I bought my house through the mychoice homebuy scheme (MHO) 5 years ago. If I want to make early payments (min 10%) I have to do a valuation each time. Is it possible to remortgage my share and pay the equity loan off? Any advice will be appreciated
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Changing Residential to BTL Mortgage
Hi All, I have a questions regarding changing my residential mortgage to a BTL. I am thinking of moving abroad next year and my current mortgage rate ends in July 2015. What is the process of changing a residential mortgage into a BTL mortgage? I am currently with BOI (through Post Offie) so not sure if any one has gone…
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Regular BTL Mortgage possible?
Before we book an appointment to speak to a broker I wondered if those on here would know if my wife would qualify for the majority of BTL loans or if she would only have choice of a few. She is employed part time 17 hours a week on about £34k. She does own a property together with her sister which is owned out right and…
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Nationwide LTV Bracket Change?
First time buyer looking at obtaining a DIP in the new year. I've been keeping an eye on Nationwide's interest rates for most of this year (as I bank with them and although not set in stone yet, i'd like to get one of their Flexclusive mortgages) so have been using their homebuying app and website for rough mortgage…
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Can't get Mortgage even with £45000 deposit! What to do?
Struggling to get a mortgage hence asking for massive suggestion please: My parents have their own house worth £160k, with £70k outstanding on their mortgage. My parents income is £40k (dad- £25k, mum- £15k). I'm 25, have about £45k (all savings from previous work as I lived home), but now I'm at university and therefore…
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can I get a mortgage with no deposit
Hi all, Me and my partner have been given the option to buy my father in laws house at a reduced rate as first time buyers. The house needs work doing to it that he hasnt the interest to do and he wants to live somewhere smaller. The average price is around £90-£95k for area and he is offering for £65k with possibly…
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RBS Offset Mortgage: Savings greater than loan
Hello, I have an offset mortgage with the RBS. The loan amount is 100K against a value of 150K. I have a savings account offset against this loan with 50K of savings. I will be getting a gift of 60K in the near future. If I put this in my savings account then it will total 110K. I don't want the loan to be "paid off" as I…
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Anyone Want to Play Broker for Me?
Hi all, My husband & I are looking to get a mortgage at some point in 2015. At the moment, he has a default of £233 from June 2013 which has not been satisfied. Is there any chance at all of getting a mortgage with an outstanding default? Or is it worth biting the bullet and just paying it off so it shows as satisfied? And…
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Second mortgage
Hi, query for the mortgage experts on here!! My personal circumstances have changed recently and I am looking at buying a second property for my ex and 2 children (3 & 5) to live in. We have had an amicable breakup and I am hoping to provide a steady home for them rather than them being at the mercy of landlords (she has…
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Remortgaging a Halifax Fixed Rate
Hi, my partner and I are within 6 months of our 5 year fixed rate mortgage with Halifax ending and we are looking for a good remortgage deal (again fixed for 5 years). At the moment we are at 5.79% interest with Halifax, the mortgage will be for about 45k and we have 75% equity in the property. My question is- how much…
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Received inheritance not sure what to do with it
We have just received £30,000 inheritance and I could do with some advice on the best way of spending it. Our current position is; £5,075 of loans, £400 family loan and ££4,675 bank loan. £110,000 left on mortgage with £15,000 of equity. Currently on a two year fix which ends in October 2015. We are paying 4.49% interest…
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Buying a second property
Hi everyone, !I need a bit of advice if possible.! I live with my father and my mum. My dad gets pip and pension credit. We live in a house which is fully been paid off. This is a house which we got through a council scheme, which we paid off after 5 yrs of living in it.! I am in full time employment, and we are now…