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FSCS protect first 50k of mortgage , what would happen to the rest ?
The Financial Services Compnesation service cover mortgages as follows: Home Finance (e.g. mortgage advice and arranging): £50,000 per person per firm (for claims against firms declared in default from 1 January 2010). 100% of the first £50,000. What happens to anything over this ?
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Change of job and moving house
We're currently paying off debt and building a deposit. We'd ideally like to move in early 2017. We've got a dodgy patch on our credit file but by the time we move, all but one payment arrangement would have dropped off and we're working hard to make good with the credit file. That said, we're also well aware that things…
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IFA Fees - are they reasonable?
Hi everyone, I've been speaking to an IFA & who has recommended a mortgage with a high street bank who have no set-up fee. £120k mortgage over 30 years 3.3 fixed for 24 months. The IFA fees are £1500 for legal & admin work to be paid on completion. Do you think this is reasonable? Having never bought a property before I'm…
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Mortgage help please!!
hopefully someone can help us... My partner and I are looking to transfer my mortgage into joint names. My current mortgage was bought with my ex partner 5 years ago (we split 3 years ago) so we are wanting to take his name off and add my partners name on. Halifax have been assisting us wih this and so far everything…
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Gaining mortgage with default
Hi we have completed an IVA in 2013 and gained completion certificate in 2014, however when looking on our credit files we discovered one account was in arrears, after many many phone calls we were told that this account was never included in the IVA, the company have settled the account but it has been marked as a…
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How perfect does your file need to be...
...to get a mainstream mortgage? We're not looking to buy yet. We need to pay off some debt and get a deposit together first, but maybe in a couple of years. In the meantime I want to nurture our credit files. I've been looking in detail and all markers are green apart from: A) a few 1s that will be more than 6 years old…
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First time buyers, dream home turned nightmare!
Hi all, My wife and I are feeling rather hopeless and we can't seem to get a straight answer on what our options are. It's a bit of a long story so please bear with me. We bought our first home just over 12 months ago, we have a mortgage which is currently just under £80,000. The house has a watercourse running along the…
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Virgin Money mortgage process, is valuation a good sign?
Really stressed.. Getting our first Mortgage with VM (Virgin Money) via broker. 29.01 - broker applied for mortgage 30.01 - initial credit check passed, continued to full application 02.01 - broker tells me that the mortgage is with underwriters 03.01 - broker says he has 'green light' from the lender to ask for payment…
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Re-mortgage additional borrowing to invest issues
Hi guys, I'd like to remortgage our property, and increase the mortgage back to 60% LTV. Due to the current low rates, we can get a fixed mortgage below the rate we could get by investing the money. The problem I am having is that even though we could easily get the mortgage as a new property, the two lenders I have spoken…
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Help to buy Equity Loan - Scotland
Hi I am a long time reader, but this is my first post. Looking for advice. I am considering help to buy equity loan and i live in Scotland, the house i am looking at is £200,000, i have £10,000 deposit, therefore the gov equity part is £40,000 (if i get accepted ok), leaving a mortgage of £150,000. (joint wage of £70k, so…
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Complex remortgage situation
I hope someone will be able to advise on this rather knotty issue! My husband has an excellent credit history, and earns c. £35K. He has a joint mortgage on our house for the last 8 years with his father because I was unable to get a mortgage. Although the mortgage is in him and his dad's name, my husband and I pay the…
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Mortgage Approved- Salary change
Hello Apologies if this has been answered before. I made full mortgage application in Dec and it was approved by Halifax. Since then my salary has increased by 4% and bonus payment has also come in higher than previous year. I was wondering if i) I need to tell Halifax about this- my research says I do need to tell them…
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Do you have to switch your bank, if you switch your mortgage?
My bank had told me in 2010 if I wanted to re-mortgage with them (I already had a mortgage with them but needed to take out money for an extension) I needed to move all my banking to them directly. They said I couldn't have my main banking with someone else, and my mortgage remain with them. I don't believe this was true,…
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Do any lenders do remortgage offers longer than 90 days?
Question is in the title. Looking to sort our remortgage sooner rather than later if possible, that's the reason for asking but most I have enquired with so far are 90 days. No worries if not, we will just have to be more patient.
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Mortgage application problems and fears
Hello all. I am looking for some advice on a mortgage application I and my partner are about to put in. My partner has a fantastic credit rating. No missed payments, no defaults, no nothing. I on the other, have loads of defaults, owe loads on 2 different catalogue accounts. I always make payments, mostly well over my…
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Remortgage or mortgage extension
hi, I remortgaged my home last April for home improvements however now the work has started we are about £5000 short( I have the money in a ISA so its not urgent really). I would like to extend the amount borrowed however when I've just spoke to HSBC they have said that the minimum is £10,000. Im currently on a 1.79%…
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Mortgage for property abroad
Current situation. I own my own home - 62k mortgage left (22 years)- property worth approx 85k. I am a contractor earn around £230 per day. Age 40 years. I am looking to buy a property potentially in Fuerteventura. I have not priced up or looked for properties as yet as wanted to know what is feasible in terms of borrowing…
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Mortgage - self employed & partner with bad credit rating
Hi there I was wondering whether anyone had any suggestions re getting a self employed mortgage from a lender who doesn't check financial associates. My husband has a poor credit rating and is in default although a debt plan is now in place so I am trying to get a mortgage on my own but the amount I can borrow is very low…
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Valuation worries
Hi all, FTB here panicking illogically about anything and everything that could potentially go wrong with purchase - I apologise! Today's worry is about the valuation. I have a couple of questions I hope someone might be able to shed some light on: 1) Do the valuers take into account regional variations in house value? For…
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UK remortgage. how do we declare Spanish mortgage?
So, we are about to apply for a remortgage as our fixed rate ends soon. We also have a Euro mortgage for a Spanish property. We send a monthly GBP amount by standing order to my sister (who is also on the Spanish mortgage) and she then makes a single transfer to our Spanish accounts to pay the euro mortgage. Its all well…
