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Can't get mortgage process clear...
Apologies if this is a stupid question. My husband and I own a flat valued at c£250K, no mortgage. We live in Scotland so stamp duty is shooting up in April. We want to move to a place costing about £350K, and have most of this money available in savings, though would be short up to £50K which is in a fixed term bond for…
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Government help to buy needed?
Hi, I am a first time buyer looking to purchase a house for around £150,000 paying £30,000 deposit so 20%ltv. However when reading up on the government help available I couldn't work out if it would be beneficial or if I could use it. It only says about 5% deposits so does that mean if you have a larger than 5% deposit…
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Potential moving home
Hi, Just wanting opinions - we (wife & I) bought our house back in 2011. We are looking to (maybe) move to another bigger house which would be higher in value. Our mortgage is portable, but how would this work say new house was 40/50k more in value than current house? Also our current mortgage is easily managed however my…
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re-mortgage and help to buy
Hi all, Just wanting some general advice before going ahead. Position is I am moving house, upgrading if you like. I am essentially using my equity as my deposit to finance the move and with this I can achieve a LTV of 70%. Now my new home to be is a new built with right to buy etc. I don't fully understand right to buy.…
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Not allowed to use gift from God-mother as deposit!
Hi. This is my first post so be kind! We have recently moved to new area, sold our old house and have a significant deposit sitting in the bank waiting to go. Our problem is that I am working as a supply teacher so my 'salary' won't be taken into consideration :( We have seen a house we are keen to buy but on just my…
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Remortgage - Fixed Term Employment
I am wishing to change a joint mortgage to my own name due to separation. I have been paying this as per the separation agreement since April 2013 and it has gone from 91,000 to 45,000 of a property value 187,550 with me making overpayments. However, I am a full time student, and also since Jan 2014 have a part time job…
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Help To Buy(5%) while on a residence visa
Hello, My wife is a british Citizen and I am currently on spouse visa.We were thinking about buying a house but currently she is not working and she had a couple of defaults on her account so i am trying to get it on my own.Spoke to halifax and was told i need 20% deposit. Is there any lender that will accept me under help…
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First time Buyer
Hi After many years of renting I am now looking to get on the property ladder with my partner. We have around 20k for a deposit and house prices in our area for the size we need are around 230k so would need around 210k mortgage. I previously had a CCJ around 10 years ago, but belive that has now dissapeared from my credit…
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Temporary 2-3 year Interest Only Mortgage?
Hi, I don't have much knowledge on mortgages, my wife did all the work first time round, but this sound like something that would be ideal for our situation. I'm not sure I understand them completely. Does anyone know if it would be possible to remortgage our house on an interest only basis for 2-3 years and then…
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Bad credit
I have a decent job and a good sized deposit and I want to buy a house. However a few years ago I defaulted on a phone contract while I was in Australia. I paid it off and its been settled for 4 years now. I also have some missed payments in last 12 months so my credit is a rubbish. Does a Guarantor help with this? Or does…
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new mortgage_not declare dependent
Me and my partner looking to buy a property together. we can easily pay the monthly repayment but it is difficult to get the mortgage for the amount we need to buy a house to stay local. basically we are not earning enough. We've a 6 year old child which we haven't told the bank about. We exclude the financial dependent to…
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Mortgage on low income
Hope someone can help My partner and me have split up and are selling our property, i will be left with 55000/60000 to use as a deposit to find somewhere else, i have noticed a few properties i like in the 100,000 bracket. My problem is i only earn 10000 and i am 54 so not sure if i could get the £40000 mortgage needed to…
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Virgin Money & Overpaying
We've recently moved house and taken out a new mortgage with Virgin Money, with the facility to overpay by 10%. Does anyone know how easy it is to do this? I'd ideally like to round up our regular payment as well as overpay adhoc...
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Am I over stretching myself?
I'm a ftb I earn 28k with 20k deposit looking at around £500ish for 5 year fix. So looking at borrowing £110,000 for a £130,000 house. Am I being realistic?
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Tricky Mortgage question
Hi I currently have a residential mortgage which I obtained before getting married. It will be up for review in summer 2016. The property is coming under a compulsory purchase order at the end of this year, so we are in two minds as to sell it before hand as it will only attract investors, who will want to negotiate a…
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Affordabilty question
Hello, I have gone through my outgoings and have worked out that after I get paid normally £1400 each month after expenses I am left with £850 a month now this is not counting the £390 a month I receive from renting a small house I own outright. Annoyingly I have been informed I probably cant use the potential rental in…
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First time buyer electoral roll query
Hello, Me and my fiance are looking to buy our first house on the Equity scheme and have even found a property we like. We have looked into the financial side of things which has been quite daunting as it's all so new to us. We are within our finances to afford the house and have run credit checks both of which are fine.…
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As base rate rises from 0.5%, do you think tracker margins will reduce?
I currently have the option of a rate of 1.79% on a lifetime tracker or 1.59% for a 2-year fix. Both are fee-free. The fix is 0.2% cheaper initially and this will increase if base rate rises. However, I'm concerned that, if I select the fix, a tracker margin of 1.29% above BOE may not be available when the fixed period…
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Property Management Fees - Let's fight
As a Leaseholder I have become increasingly disheartened almost to the point of simply feeling harrassed and helpless that I seem to have no rights. Owening property is now no longer a joy simply because I pay over well over £1000 for nothing and the Law is allowing unscrupulous companies to provide no service. Management…
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Concerned I may not get a mortgage
My wife and I have found our dream first home. We are in the best financial situation we've ever been in. We have a household income of around £55,000 a year. No current credit commitments (everything has been paid off). One point of concern is some defaults registered against me between January 2009 and November 2011.…
