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Options after failed application
Hi all :) I would really like some advice if anyone has any to offer. Here is our current situation: We live in a house valued at £160,000 (valued 5 years ago) We took out a £93,000 mortgage 5 years ago on this house. We currently have a mortgage of £69,000. Due to a troublesome time, my partner managed to run up a debt of…
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Change of address re mortgage application.
Hi all. Would my change of address affect my mortgage application negatively? We are hoping to apply for a mortgage in about 4 months' time and have lived in current address for the last 7 years. Or should we remain at current address (if able to) till the application ? Thanks.
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Mortgage
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Buying Parents House
My sister and I are looking to buy my parents house. It's been valued at 550k and they have 97k outstanding on their mortgage. In theory, they'd like to take 200k out and for the mortgage to be paid, so we're looking at roughly a 350k mortgage. We've already been approved a mortgage in principle for up to 400k so that's no…
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BTL mortgage on an unencumbered property
Hi guys, Hoping someone can kindly help with my situation. I currently have an unencumbered property which I've just let out this week. I want to take out a buy to let mortgage on it to raise funds to purchase another property and pay off existing mortgage on another property. I've spoken to one "leading" mortgage broker…
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12 month Fixed Term Contract - who can provide Mortgage
hi All, wonder if anyone can help me here. Me & misus are trying for our 1st house, offer has been accepted etc, however my misus is working as different agency worker for nearly 3 years without a gap. now she has been offered a fixed term contract directly form RBS(new employer) for a year. as this will be her 1st…
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change BLT into residential but failed affordabilty
My sister has a dilemma. She lives in a flat which is on residential mortgage and she also has a house on Buy To Let mortgage. She would like to sell the flat and move into the house which is currently on Buy To Let mortgage. she is on 30k salary and the Buy To Let mortgage out standing is £350k. She won't get much equity…
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Nationwide - moving on to a fix - so easy online
A few weeks ago there was some discussion about how easy it is for existing N/wide customers to change mortgage product (assuming you are currently on the BMR or SMR so not locked into a deal period). Well, I did it last night online. As I bank online, the process just got me to log in, brought up all my details, asked…
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Fixed Rate Mortgaged Ended Now on Base Rate Tracker?
Hi I wonder if anyone can help? I was on a fixed rate mortgage and when this ended I expected it would switch to a variable rate in line with current interest rates. I have just looked through my statements and I'm on a Base Rate Tracker at a rate of 2.50000. This rate has not changed since March 2011. I was wondering why…
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newbie- help endowments
Hello, I am looking to star an endowment like my parents did. Over 5/10 and 25 years however is there ones which aren't tied into stocks and shares? Or is there anything else out there I could start. I don't have money to invest this is just the beginnings of savings. Ive also got life insurance though another company so…
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AIP declined
Hello, Me and my partner applied for a mortgage. We have £20,000. The house is £193,000 new build so a further 20% from help to buy. Me and my partners history isnt great. I have a default (paid) from 2 half years ago by Orange for £105. Nothing since then. My partner just has a few payday loans from last year. We went to…
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Standard Life Endowment news
Hi All Does it follow that if Standard Life report a sharp rise in operating profits then there will be a corresponding sharp rise in their endowment policy payouts?! Or at least an improvement! I doubt it, but I can have my dreams can't I? http://www.bbc.co.uk/news/uk-scotland-scotland-business-31550046 And noticed this…
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ltd company mortgage advice
Hi some advice please, here it goes: 1. I live in property 1 with my brothers family and my parents, which is a shared mortgage with my brother. The property has a residential mortgage of around £200K and is worth £500k. 2. My wife and I want to buy a property (property 2) to live in separately. We are looking for a…
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offset mortgage question
i have an offset mortgage with YBS fixed at 2.84% until Jan 2016. I currently owe £28000, and my savings are same amount (my offset). Am i right in thinking that as long as i keep my savings the same as my mortgage, i pay no interest on my mortgage. Monthly payments should be about £180 but i am ovepaying to reduce the…
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Valuation Concern
Hi All, Ive just sold my home, probably on the higher end of its value and im concerned when valuation is conducted it will be undervalued. The most recent comparable property sold for 8k less, however that house still had original kitchen etc, the house i have just sold has been renovated from top to bottom, everything is…
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Nationwide Mortgage DIP +CRA Question
I am about to look to moving home and will be applying to Nationwide for a mortgage. I have done all the affordability checks usimng their online tools and would be within what I am looking for. (Due to the nature of the property I am looking for, I would have to move speedily - smallholdings are like hens teeth!) I am…
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Remortgage/Job Change
The fix on our mortgage is up in 3 months time and we will most certainly be able to get a better deal than our current one, however there is a high change that OH (main applicant) may change jobs before then. If he gets offered the job he won't be in a position to postpone his start date. I know many lenders require you…
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Commercial Mortgage - reality check
Question for the brokers out there. I am looking to buy a commercial premises for my own occupation. I have 35% deposit. My existing BIG 4 bank has offered me terms of: 15yrs (my term request) Repayment basis (my request) 2.8% above base rate = 3.3% (variable) 1.5% arr fee Does this sound a reasonable/fair deal? I tried to…
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Final checks? Help
Hi all Does anyone know how long the final checks are for before issuing the mortgage offer? Any advice very appreciated. Thanks in advance!
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Multiple mortgages possible?
Hi there I would really appreciate some advice as we are not sure where to turn at the moment, and not sure if this too much pie in the sky dreaming! The main points are : - My boyfriend has a house valued at around £500k with a £265k mortgage on it (he earns £65k). I have a flat worth approx £230k with £145k mortgage (I…
