-
Which mortgage?
My eldest son is about to start a temporary job then a funded PhD in Glasgow. He will be receiving circa £13,000 for the next 3.5 years. Firstly: Will it be possible for him to get a mortgage? (Ha ha) Secondly: I have no mortgage but would be able to get a small mortgage on my earnings (plus I own my house). Is me getting…
-
Buy house and split deed on transfer
I want to buy a house. It happens to come with two cottages. They are classed as empty for long period and attract 150% council charge. I can't get residential and rent cottages. Can't afford deposit to buy commercial on whole plot. Anyone experience of buying whole plots and sub-divinging on transfer? The sellers are…
-
Mortgage/Shared Equity
Can anyone advise me please? I bought a house 6 1/2 years ago with 25% shared equity put up by the builder. I have a mortgage of 100,000, I owe the builder £45,000 in 3 1/2 years.... I cannot see past the financial fog.... how best to move forward. I am 58 so only have a 12 year term left on my mortgage and I cannot afford…
-
New Homeowner help.
About my situation, i have always known around the age of 30 i would inherit my fathers house for a minimal sum, so had my farther so he let it go and never properly maintained it saved all his cash for his new home. So here i am at 29 bought my fathers house for £5000 no mortgage i own it outright, its only a 3 bed…
-
Transfer Of Equity Advice
Hi Im currently listed on a mortgage with my mother and now want to come off it and buy my own property with my partner. At the time when the mortgage was took out i was advised to go on it to help my credit score in the future and also to help my mother out with the affordability checks. Now ive been told the best way to…
-
What information to give IFA?
Hello all, I'm in the process of securing a new mortgage and have selected an IFA I wish to use. I have given the basic information already and will soon be seeking an AIP. What sort of information will they require and is there anything I should NOT be telling them? Is it reasonable to want to know bank account numbers…
-
Gifted money and TOE
Another question.... TIA :) I currently have a joint mortgage with my soon to be ex partner. House value approx. £200k. Current mortgage £110k. I have £20k in savings which I will be using to pay OH (amount agreed by us both, reflects the £50k deposit I put in). I will be getting some money via my parents (inheritance from…
-
Declined at DIP- advice for going forwards..
Hi, I have been reading these boards for a few weeks and thought I should probably ask for some advice on our situation please. :) My father in law helped us in 2010 by buying us a house by getting the mortgage in his name as I was a student and my hubby was bankrupt in 2009 (discharged 2010, completely off his file this…
-
Releasing cash from my house sale - confused!
Hi there, Newbie here - we've just found our dream home and are trying to work out if we can afford to buy it and do it up. We have a fixed rate mortgage that comes to an end in June. If we sell our house we should make 55k 'profit' from it. Including our original deposit we would therefore have 70k cash if we sold the…
-
Metro application and borrowed money returned by friend
Hi Guys We are in the process of buying our first property with the help of Mortgage adviser. We have received AIP from Metro Bank. They completed a Valuation survey and we are waiting for Metro’s decision, after all the documents were submitted in in 1st week of Feb-15. Does anyone here has past experience with METRO bank…
-
worth remortgaging?
Apologies in advance for my limited financial knowledge. I would really welcome any opinions on my mortgage situation. I co-own a flat and a BTL flat with my partner. Our mortgage has 7 years to run and has £30,000 left on it. The BTL is interest only for £100,000 with 11 years left on it. Both mortgages are cat mortgages…
-
Buying a second property with a friend
Hi all I currently have a mortgage with my gf - we have recently remortaged and so can't remortage again until November. I would like to invest with a friend and buy a second property - one that he would live in, and we would rent out the other rooms. Is it possible for us to get a normal mortgage for this, due to the fact…
-
Do nationwide re-credit check before completion
Hi, has anyone else experienced a re-credit check before completion with nationwide. I am buying a new build and it will be 3 months from mortgage offer to completion?
-
Settled PDL's will this affect mortgage?
Hi All, here is my situation: Currently have a mortgage on a property but looking to sell to be able to buy with my partner. I have a deposit of £25k and no debt and my partner has a deposit of £40k and hope to buy a property with 20-25% deposit. Combined income of £58k The issue I am worried about is last year I used 2…
-
Should I Remortgage With Different Lender
Hi, I'm currently coming to the end of my Fixed Rate 3.19 2 Year Halifax Mortgage. House was purchased in Augist 2013 for £212000.00 and a 20% deposit was put down. Current Monthly Mortgage Amount is £825.00. I have overpaid £10000.00 of mortgage by paying 600.00 extra for the majority of the months I've had this deal…
-
Overpaying mortgage question
Hi all, I'm on my first mortgage so please excuse this noob question! With the interest rate really low, I'm able to overpay my mortgage quite a bit and would like to do so. I'm with Nationwide, I can overpay up to 10% of my original mortgage amount each year. If I overpay more, there's a penalty. Their website on…
-
Will I pass the underwriter checks?
Hello. Long term lurker, plenty of reading though. Need an opinion or two! After many years of trying to put my credit file right, I have finally got myself in a position to apply for a mortgage. I have no defaults, some very old late payments from 2009 and a couple of AP markers from 2009. Other than that all my accounts…
-
Advice needed please! How to finance a house extension
Hi guys, wondered if you could help with some advice. We've found a freehold property we'd like to purchase for £28k, and we're looking to spend around £15k on the property (for renovation and extension/ separate garage etc). Is it best to take out a mortgage for the property, then look at the cheapest loans for the works,…
-
Is switching bank account going to affect my mortgage application
Hi, I am thinking of closing my bank account from HSBC and switching to Halifax, as they offer £125.00 to switch. I will be applying for mortgage at the end of this year and was wondering if I switch to Halifax-this will mean that I will be with my new bank for less than a year, does anyone know if this is going to affect…
-
Mortgage application while on probation
Hi my son is in his existing house, but needs to remortgage to remove his partner off the property. The house is worth 150k and the mortgage left on property is 120k. He can only borrow 114k on his wages, so thought he would bring his sister in on the mortgage to make up the difference. The problem is that she is 2 months…
