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First Time Buyer
Hi all, I am looking to buy my first property in a few months time, and am after a bit of advice. I have paid off all my outstanding cc and loan debt, and closed all but one account (cc - 1750 limit - no balance) leaving me with just two buy now pay later agreements - total payment a month £80 and both will be paid off by…
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Remortgaging but on a reduced income
Hi all, I am a novice at this sort of thing and hope you can help. I can remortgage my property and am likely to do so in order to get a reduced rate. The problem is that my income has reduced since I initially took out the mortgage. Here are the facts: Property value: £450,000 Outstanding balance: £252,000 Salary: £30,000…
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whats your thoughts? broker git back to me
Hi all. The broker finally got back to me last week. I originally had a post asking if statutory reports are enough for a broker to work her magic. Answer is like you all said ...no. Now the reason I asked this was because there was no trace of my PDLs I had back in 2012.! For the purpose of new readers...I have a CCJ…
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fixed term mortgage
I have on year left on a year fixed mortgage. I was wondering, if I can approach my building society and saying that with the great new low rates that I was thinking of moving but that I would like to see what they could offer me to stay- can I do this?
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How many more bumps in the road??
Well from having a total meltdown on Monday and having no DIP, I now have two. One from precise and one from Nationwide (I obviously will be using the Nationwide one if we are accepted on full application) I tried to be as prepared as possible, bank statement, credit records, wage slips, p60's etc etc ....Only today to get…
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Only need 10% mortgage on 145k property but self employed
I have been all over and cannot get past the "we need 3 years accounts" I have only been self employed for less than a year therefore these are not acceptable. Also been down the personal loan route with the same response. Even gone for secured loan but I have sold my house (sale going through) and not yet got the one I am…
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Organising mortgages
I'm helping my mum sort out her finances, now I'm not really accustomed to sorting out mortgages, so I'd really appreciate your help! She currently has her mortgage split into 5 parts, all with Santander: £15,833.58 - 4.74% - Not tied in £13,554.74 - 4.74% - Not tied in £3590.01 - 3.49% until Jan 16 - £107.70 Early payment…
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Overpay or second home?
We would love to buy a small studio flat in central London that we could let out on a short term basis and also use ourselves for holidays instead of paying for expensive hotel rooms. We would look to spend £200k on a flat. We have a combined joint income of about £85k/yr in permanent jobs. We have an existing mortgage of…
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Age gap Mortgage applications!
Hello, My husband (57) and I (31) are attempting to get a mortgage. I work full time as a teacher and currently my husband is a carer for a relative (receives carers allowance). I am a first time buyer and I would like to get a mortgage over 20-25 years but due to my husbands age I am only being offered 7-12 year loans.…
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Awaiting Mortgage Decision
I'm buying a 40% share in a Shared Ownership property. We need to borrow £78'000. We have a 15% Deposit. AIP Obtained from Woolwich. Full application submitted 30/01/2015. Valuation instructed 03/02/2015. Partner and I both have excellent, clear credit ratings and our affordibility is more than fine. However, my partner…
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Nationwide absolutley brilliant
Cant thank nationwide enough. Speedy....... My timeline 1st feb : DIP by broker, Accept 2cnd feb : full application submitted and text to say valuation 3rd feb 3rd feb: documents fully checked and approved 4th feb: vaulation came back as ok and a text from nationwide saying formal mortgage has been sent in the post. 4 days…
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Joint first Mortgage - one with bad credit
Hi, me and my girlfriend are currently saving a deposit for a house and are looking to buy one at the beginning of next year with a 10% deposit on a property around the value of £130,000. We have an income between us of about £45,000 a year, and my girlfriend has an excellent credit rating. Myself however has a somewhat…
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Help to Buy (Wales) Lenders - Cash Incentives Y/N?
Hi There, I'm looking to do Help To Buy on a New Build Property in Wales, but I need to sell my current house. We've got an offer in but it's currently 5-6k too low. The Developer has said that there MIGHT be something they could do (some form of cash incentive). They are already willing to pay my Stamp Duty and estate…
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De lenders prefer loans or credit cards?
I've also posted about this on the debt-free wannabe board but just spotted this one too and thought someone here might have an idea from a slightly different perspective. I have about 10K of credit card debt at 18-20% interest rate, minimum repayments of about £225, currently repaying about £250 p/m I have the option of a…
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Adviser or Direct?
Hey I've been reading this Forum for years but this is the first question I have that I haven't found an answer for. We've been saving and now have the deposit to buy our first flat :) We've had an offer accepted and to do this we had to get an offer in principle from the mortgage adviser the estate agent recommended,…
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Switching to a new deal with existing lender
How painful is it? I was under the impression to switch to a new fixed deal with the same lender that it was relatively pain-free. Having been placed on hold for an hour and having to book an appointment to ring them next week I am starting to think that it would be easier to re-mortgage with an entirely different bank!…
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Releasing Equity for BTL
I am considering purchasing a house to let out using the equity in our home , I like the look of nationwides 10 year fix at 3 percent but they won't allow it for these purposes. Home value 150k, outstanding mortgage 18k , BTL 65k, £400-450 a month rental, I'm self employed and my partner employed, remortgage will be…
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Schemes for 'stepping up' to a new property
Hi Everyone, I was hoping for some advice on available schemes for helping to step up to the 'forever home'. We have a 2 bed property at the moment and want to upsize, ideally to somewhere where we wont have to move again in 5 years once we have kids (so let's say we want a 4 bed now, not a 3 bed now then a 4 bed in 5…
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Where to keep Title Deeds?
Where would you suggest is the best place to keep home title deeds? I suppose options include; a) pay conveyancing solicitor an annual fee to retain them. b) keep them at home (though presumably this is potentially risky) Are there any other possible options, or do you have any comments on the options above?
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Credit Card Spread
Hello, Does it matter if between myself and my wife we have £8500 worth of credit card debt but £6850 of which is mine and only £1650 is hers? (We only did this due to 0% deals at the time) To add she earns about £2000 more then me per year.
