-
Calculating first mortgage payments
Our house purchase is progressing again (we are FTBers) and I'm just trying to make sure I fully understand when and how much our first few payments will be as there is some overlap with our rent payments and I want to budget accordingly. Could somebody please confirm I've understood this right? 1. Our "preferred payment…
-
What is considered as financial commitment on a mortgage?
Hi all I have a problem and was hoping you could please help me What is classed as a financial commitment on a mortgage application Hoping you can help me and guide me further and break it down for me. Several of online mortgage calculators say include financial commitments but state NOT to include household bills, any…
-
Using an inherited house as collateral questions
I'm looking to buy my first house and my dad offered to transfer one of his rental properties (which he inherited from his dad) into my name. It's only valued at about £30k but it's mortgage free and has a rental income of around £250 pcm. My dad said I can used the house as collateral for getting my own mortgage but I'm…
-
Shared ownership with family?
Hi all, this is my first step in researching this so sorry if I have missed anything. But I am interested to know a) if this is possible b) if I'm likely to qualify and c) how it could actually be done. I live in rented with my boyfriend. We make 57k in our household pre tax. I also make an extra £6k a year but as…
-
New loan to income mortgages
Hi, I'm remortgaging soon and last time i applied for a mortgage, the loan to income mortgages wasnt in. I'm looking to look for new Mortgage products soon, does anybody have any tips and hints that i should do to ensure that i wont get rejected? Anybody know of a good resource i can read? What specifically do they look…
-
Best broker recommendation please :)
Hi We are FTB and we need help in choosing a broker. We have had a mortgage declined with natwest after a successful DIP so are now feeling a bit desperate. Our landlords have put our house up for sale and we need to move out otherwise we wouldn't be looking to buy just this second, as we are well aware we aren't prime…
-
PhD scholarship and TWAs - will I ever get a mortgage?
Hi everyone, My partner and I first time buyers looking to buy a property valued at about £270,000. We are in our early thirties and have a 10% deposit saved up. My partner would be the main applicant; he has a full time job and earns over £44,000. I am a PhD student with a tax-free £20,000 annual stipend which runs until…
-
Best mortgage broker for someone with DMP?
Hi all, hoping someone can help with a mortgage/DMP question. 12 months since I started my DMP has given me valuable thinking time. We have enough equity in our house to pay off all our debts (55k) and still leave 85% LTV on the mortgage. We are therefore now considering downsizing our house to release the equity and pay…
-
Three questions? [mortgage advisor
Applying for shared ownership with 10k saved and 5k debt not loans. Currently using a broker. 1. How does grey APs effect your application to mortgage, done a credit search with equifax and found that my other half in 2010 had 6 AP months. (She did not understand the impact as she was a student at the time) 2. Is it even…
-
Mortgage with DMP
We have a DMP in place that would be cleared by a lump sum when I retire and leave us with 20k. We currently live in a house worth 450k with a mortgage of 198k. We would like to downsize to a house costing 350k and reduce our mortgage. We are aged 59 and 64 but I plan to continue working for another 7 years. Income is…
-
How to get off the mortgage
A friend bought a house with other friends a few years back and owns 10% of the house according the mortgage agreement. Things have recently gone from bad to worse with the people she lives with and she desperately wants to get her name off the mortgage and leave. The house cost £250K and is worth pretty much the same now…
-
Planning to rent our flat next year, do we have to tell our bank?
Hi, We have an HSBC 5 years fixed rate mortgage since August 2014. We are planning to go abroad for a year in 2016 and we also would like to rent out our flat. Basically we would like to cover the monthly payments with the rent. Do we have to let the bank know about this? Can we switch to a sort of 'buy to let' mortgage?…
-
First time buyers
Hi all, Me and my partner are looking into buying our first home together, we both currently live with our own parents and want to be together. We have both started saving and have been looking at our options with help to buy scheme etc. However I have one worry, I am currently at university and will be for the next 3…
-
Is my file strong enough for a mortgage?
I'm newly signed up but been viewing for a few days, I know there are a few experts out there and im looking for your opinion on my situation. I'm going to put my situation in a basic format to make it easier to understand. - 95% LTV - 45K Income - 70k Borrowing - 28% of my available credit used - Good payment history on…
-
Is ther such a thing as 100% mortgage? :(
my partner and I are trying to find a 100% if not 110 % mortgage ?! For one reason and another we have no deposit and though should be better off at the age of 33 and 40 we aren't! However my partner is offshore worker and earns around 60k . I'm a dog groomer from home and earn £15-20k ! We have no deposit and have seen a…
-
Self Employed Proof Clarification SA302?
Hiya sorry me yet again Im trying to get my ducks in a row well in advance I own a ltd company with another person, it is regstered at company house, first years accounts are in, just approaching vat registration fresh hold, I get a certain ammount as a "wage" and the rest as a dividend do I need a monthly pay slip for…
-
What interest rate should I expect to pay
Hello all I feel really embarrassed to post here about something I am utterly clueless about! I am a bit of an emotional mess at the moment, as my mother died a few weeks ago, but I am trying to look to the future. I have £55k saved up for a house deposit and will inherit around £45k in the next few months. I know that…
-
Agency (NHS Bank) Mortgage
My girlfriend and I are first time buyers looking for a flat in London. She is on a full time contract earning £41k and isn't a problem but I work for the NHS and am employed through an agency (bank). I have been employed here since Nov 2013 and each week have had the same "shifts" amounting to just over £39k pa. The only…
-
Well, dress me up and call me ...
Well, dress me up and call me Sally! I have a CCJ, 6 credit card defaults with credit card debt of over £50k - and I've just been offered a mortgage :D OK - so the CC debt and defaults are a few years old - I'm basically gonna walk away from the debt, and the CCJ started at about £3k and is now about £1k - but even so, I…
-
Getting a Mortgage with defaults
[FONT="]Hi all. Long term lurker first time poster![/FONT] [FONT="] [/FONT] [FONT="]My girlfriend and I are in the process of buying our first home through the 20% deposit help to buy scheme. We've gone through a mortgage broker, and they've come back and advised us that we're unlikely to be able to get…
