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Offset with someone else's savings
Hi, I have been looking at changing to an offset mortgage. My parents are in the position that they could put an amount in a savings account to offset against my mortgage. I would rather this was a separate account that only they could access, rather they them transferring it to me. I know of a few companies that offer to…
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Tsk. Thanks, landlord.
Hello - myself and my partner have been left in a bit of a spot and could do with some advice. Basically, last week we were given notice on the property we've been renting for the last 3.5 years by our letting agency, who said they'd had a call from the owner who wanted to move back in to it. Cue MASS PANIC as there are…
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Single mum - Remortgage - advice
Hi Just looking for ideas/advice if possible. I am a single mum looking for a mortgage I currently have a buy to let mortgage but due to a relationship breakdown I am now back at the property. I have it on an interest only mortgage and I would like to get it to a ' normal repayment' Current provider say they can't help as…
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paying more interest when mortgage payment falls on weekend
Hi, I'm with HBOS for our mortgage and have noticed that whilst the bank have no issues charging us monthly interest on the last day of each month religiously even on weekends, they will never credit our account with our monthly mortgage payment on weekends. Sure, they will 'take' the money from our bank account on the…
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"Remortgage" on fully paid home
I'm looking for some guidance here before I approach any more of the high street banks. Partner and I currently own (mortgage fully paid off 10 years ago) our home.Current value somewhere around £250k. We would like to purchase a home abroad (which we will rent out when not in use by us) and rather than mortgage the…
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Phone contract - affect mortgage application?
Hi, I'm about to change my phone contract to a cheaper one. Taking up a new contract generates a credit check - will this have any impact on the mortgage application I'm about to do?
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Joint mortgage help!
I have a joint mortgage on property bought 10 years ago,with a friend at the time. It is an interest only mortgage of £93k , deposit of £32K jointly paid . Friend wants out of the mortgage, wants share of deposit back plus half proceeds from sale. House is valued at £150K. Only I have lived in the property, I have paid the…
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Mortgage interest changes
I received a letter from my mortgage company last week regarding an error they had made on the interest rates on my mortgage. some time ago (can't remember when) my mortgage company was taken over by another one and so, therefore was my mortgage. The letter states that under my agreement with the old company any changes in…
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endowment paying repayment mortgage
We have just had our interest only mortgage statement stating it ends in April this year Yippee! But some years back we were 'conned' into an endowment that will only just cover the mortgage now. Only trouble is we have only just realised that this does not mature until November 2015. Any ideas as to what we should do for…
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First Time Buyer - Advice
Hi, My girlfriend and I are first time buyers so are new to all this and just wanted some advice. We have a mortgage in principle with Santander and all our paperwork is in order, so we are ready. We have a property in mind that is on the market for 240k, however it sold under 5 years ago for 172.5k. Although its in an…
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Mortgage Lenders and Income Commission/Bonus
Does anyone know what percentages of regular commission each lender will consider? I have seen it documented in some lending criteria but some don't reference it. For example, if someone earns £10k per annum basic and 10k per annum commission, with documented evidence of regular commission payments, how much does each…
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How long did nationwide take to respond.
Anyone who has had their application for a DIP referred how long did it take for a decision?? I really do not have any confidence in my broker as despite taking my credit files etc his first response to me was "these are the top interest rates let's try Santander" we were refused and the application has now gone to…
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Precise
Just thought it share my experience so far with Precise. DIP on 16/01/15 Full application on 28/01/15 Full credit searches on the same day With underwriters today (02/02/15) so my broker should hear by the close of busiess today!! Fingers crossed! The wait is killing me! On the plus side, the app has gone on for 5k less…
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Offset mortgage to fund buy-to-let...
Hi! I have a long standing offset mortgage with the Woolwich. The offset mortgage has a 'mortgage reserve' which allows me to 're-borrow' some of the funds that I have already paid off. That 're-borrowed' money would be at the original rather low rate. I would like to buy a second property and let it out - if I go to the…
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Original documents as proof - help.
Hi, Broker submitted mortgage application on Friday and Nationwide have requested for my partner and I to supply either an original bank statement, credit card statement or utility bill within the last 3 months as proof of address. Being first time buyers we don't have "utility bill" statements. I am lucky as I do have a…
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Mortgage term for first time buyers
Hello. Me and my girlfriend are in the process of saving up to buy our first home. I currently live with my parents & he rents. We have a deposit for a house in the price range we are after, we are now in the process of saving for the extra things like solicitors fees & money for decorating etc. We haven't yet been for any…
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Huge difference in online Calculators
Hello, I am finding that there is a big gap between figures on calculators for instance Natwest is saying we could potentially borrow £218k however Nationwide whilst entering the same figures is stating we could potentially borrow £270k. Any idea on how accurate either of these are?
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Mortgage advice
I'm currently in the process of looking at mortgages and engaging a particular broker. The mortgage we're looking at is the Woolwich Springboard as we have a family member who can help us out initially. The question is, there isn't an arrangement fee and the broker charges £100 to put the application in, then a further…
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Car Loans and Being a First Time Buyer
Hi all, Hope I'm posting in the correct place. My girlfriend and I have been saving for a deposit for our first house and have managed to get together a good 10% with some extra to cover the costs. My concern and question is around being approved a mortgage whilst we both have a car loan. I have a personal loan and she has…
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Precise Mortgages who do they use to check
Credit? i know there are 3 major in the UK but does anyone know who Precise use? thanks in advance
