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Remortgaging on Shared Ownership
Hi, Just hoping for a little guidance before I approach my lender to see what the reality is. I am currently 13 months into a 3 year mortgage (Nationwide)on a shared ownership property on 60% of the value. Over the last year I have made a number of overpayments and the property market in my area has recovered significantly…
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Incorrectly Charged an Early Repayment Fee - What do we need to look out for?
Hi, we received our annual mortgage statement to find we've been charged an early repayment fee of £2655 which we're assuming was added to our account last June when we remortgaged. However, we remortgaged with the same company at the end of a 5yr fixed deal. We have been advised there has been an administrative error and…
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Shared appreciations mortgage
Last week I lost my grandfather, he left behind my nan, she isn't well and is very frail and has early onset dementia, I am currently taking lasting power of attorney to help her. The house that they lived in, I have found has a SAM. In the 90's he took a loan against the house for £27,500 which was 25% of the value of the…
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Equity entitlement query
My father and I jointly applied to purchase the maisonette that my wife and I live in. he did it to offer my wife and I a helping start and we advised my father that upon sale of our home we would pay him a sum of money to say thanks. It has now come to the time of sale so I have asked my fathers consent to be able to sell…
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Mortgage help
I will be visiting a broker soon but before I go would like to know if the following information allows me to obtain a mortgage I need I have an apartment with £68000 outstanding and has a consent to let (currently let at £660 a month and mortgage payment is £300. Apartment has only been let from Jan 15. (Apartment was on…
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Address history
Hi can moving address 3 times in 3 years hamper mortgage approval. I have been reading up that they like stability. This is all down to me renting then the owner wanted to sell up, so i had to move back to my mums, now im back in renting. Therefore 3 addresses in 3 years. But have been present on electrorol for all 3????…
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Arrangement to Pay Impact on Lending Criteria
Hi, I'm just wondering if I could get some advice regarding some historic issues on our credit files and what approach we should take when we eventually speak to a residential mortgage broker at the end of April/start of May 2015. My wife's credit file at Experian, Equifax & Noddle/Callcredit shows AP/AR markers on a…
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mortgage endowment query
advice please. someone I know cashed in their endowment policy and is now on a repayment one. they didn't claim any money back as being missold, even though I believe they were. the financial; advisor they used is now dead and was a sole trader. is it too late to claim? thanks.
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New mortgage application with defaults
Hi All, I am wondering what my chances are going to be at getting a mortgage (not until the end of this year/beginning of next). Currently I am an expat, I have lived out of the UK for the last four years (moving back to UK this year). In that four years I got into a total mess with my UK finances and accrued a number of…
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Mortgage Overpayments
Hi, I wonder if anyone can help me - My current mortgage deal has finished and I have reverted back to the standard rate of 3.99%. I am going to sign in to a new 2 year fixed at 2.19%. I'd like to pay a little extra off in a lump sum payment, between £1,500 and £2,500. This money will come off the borrowed amount and not…
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Getting a mortgage on a new build without using help to buy
Hi all, just wondering if anyone can help... After 8 long months on the market in our current property with only a couple of viewings and no offers we looked into part exchanging our flat with a builder, they offered us a fair Ish offer which we decided that based on a previous meeting with mortgage advisor we would go…
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Two families - shared house ownership - what to do?
Guys I need some advice from you experts :) Situation: Me and my dad co-own a property in London. Me - 36 and on circa £55K. Not much savings...maybe £10K. My dad 67 and drives a cab. We both live there. About £55K left on mortgage. Value around £550K. I live with my wife, two children,my dad, mum and disabled brother. Its…
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Co-Ownership & Mortgage
Hi I am currently in the process of buying a property in N.Ireland through the co-ownership scheme. The property I am purchasing is valued at £140,000 and I can get a garage included for an addtional £8,000. I have been accepted by co-ownership however they inform me that they cannot fund the garage as it is an optional…
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Port rate, joint to single
Me and hubby have fixed mortgage with halifax and want to port this product. As I am not currently employed is it likely halifax would allow my husband to port this rate taking me off the mortgage altogether. The affordability is much greater as a single applicant.
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Don't understand why I can't get a mortgage :(
Hi all. I wonder if you can help. Last summer, 2014 I put down a small reservation fee on an off-plan property for around 430k. At the time I was given a decision in principle. Then the completion date was delayed a couple of times. I've recently got a call saying the property is close to completion and I need to apply to…
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What does this mean "Maximum Loan to Value 60%"
Hi , what does this mean please? my brain is frying 'Maximum Loan to Value 60%' Does it mean i can not have a deposit greater than 40% so i could have a 30% one ? Or does it mean i need a 40% deposit minimum ? Many Thanks!
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Advice greatly appreciated!
Hi Folks Loving the forums, lots of good info and advice but now for my turn! Myself and my partner have had mortgages before, sales of properties completing this week. We are looking to buy a newbuild property which will be ready at the end of the year. I earn 33,500 and my partner 37k. We are looking at a new build with…
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Mortgage & University
Hi, I am just looking for a bit of advice. Basically in about 18 months i need to go to university for 2 years full time for my job so i will not be getting a wage into the household & i have a mortgage with 2 kids living with me full time. Is there any benefits i could claim or anything to help me pay for my mortgage…
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HELP...Have my parents MTG been mis-sold
I am new to this but am in DESPERATE need of some advice on a product that I feel has been completely mis-sold to my parents. Approx 20 years ago they took out a Woolwich offset reserve mortgage.... this meant that running alongside there current account was a HUGE overdraft/reserve of £117,000 which was there for them to…
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Lots of equity but unable to remortgage enough
Hi we have a mortgage of £156k over 27yrs and house valuation was £360k yesterday. We have credit card debt of £26k and loan of £10k. Income is £25k self employed and £21k employed. We want to remortgage to clear the credit cards as we used them to fund our loft conversion which has added value. We also have 3 children…
