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Does estate agent want to see Agreement in Principle before putting forward offers?
I have heard folk on the house buying site that they have had to show their agreement in principle to the estate agent of the seller to confirm they have finance ready etc. Does this happen when an offer is made? After offer made? After offer accepted? Just that our agreement from our broker states our maximum mortgage…
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Will I ever get a mortgage?
So at present I don't have a deposit and my wage is only £15k :( I am opening up an homebuyer ISA and plan to save into it for the next 5 years. At this point I hope to be earning £21k (nhs) I'm thinking of around £10-15k deposit at this point, but it will be a single application as my partner won't be considered due to…
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Is it ok to speak with multiple brokers?
Is there any harm in me speaking with multiple brokers provider I don't do multiple mortgage applications... ...everything I read says that I shouldn't be forced to have a "meeting" with xyz, but if I have the time, it can only be beneficial right to see if they can get a better deal?
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First Time Buyer after renting for 6 years where to start!
Ok so me and my partner need to get things moved quite quickly! we have received martins mortgage guide but would still like a bit of help if poss! We have been living in our current rented property for the last six years and our landlord has decided he now wants to sell. It is the ideal home for us so we have decided we…
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Valuation
I'm looking at buying a house from a family member, so won't be using an estate agent (and therefore won't get a valuation from them as part of their fees, as is standard in the area I live at least). However, I presume the mortgage company will still require a valuation, and it would be useful for us to know that…
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Mortgages and Student loan debts/monthly payments
Apologies if this has been posted before. I'm a first time buyer and I am in the process of organising my finances with a view to begin the house-hunting/mortgage application process. I'm unaware of my credit rating, but I have enough cash set aside for a 10% deposit for the top end of my price range (£100k), more savings…
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Getting a mortgage when pregnant.
Dear all, My very lovely parents have said they want to help me and my wife buy a palce of our own. Some background; my wife and I rent a 1 bed flat. She earns £20,000 pa I earn £22,680 per annum. I have £3,800 debts (unsecured loan + 2 credit cards) and £2, 800 in a savings account (probably will use savings to offset…
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Mortgage application had wrong date of birth!!
Hi all Have posted on here a few times in last few weeks- my buyers mortgage has taken forever to go through and her broker has not been the best. So, valuation was done and last week she was advised by Natwest that offer should be ready by Monday/Tuesday this week. Still nothing yesterday so she chases it up and long…
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choosing between 2,3 & 5 yr term
Hi. We are first time buyers and are working with a mortgage broker to apply for an AIP with Skipton building society. Offer has been accepted of 250,000. We are planning to put down 50,000 deposit. Our broker has advised the following options: 1.99% 2 year fixed £738pm 2.46% 3 year fixed £786pm 2.94% 5 year fixed £836pm…
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First time buyer advice needed
Hey, Long term lurker just got round to making an account here. So current situation is 21 years old, just started first proper job on a salary of around £25,000. Have around 5k saved already, own car outright and staying at home where i pay very reasonable digs. I've figured it's time to look at moving out and i've always…
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Rental income won't exist until I move out
My plan is to rent out property I currently live in and get mortgage for a larger property with the rental income helping towards mortgage payments for the larger property that will become my new home. Do lenders allow for such additional income when deciding how much to lend where there is no record/evidence of rental…
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Nationwide issues!
Long time lurker here! I need to vent after a stressful afternoon with NW. I had a DIP approved 2 weeks ago and subsequently made an offer subject to loan. Went in this afternoon to the branch to go through the full application and when the advisor started to go through the DIP again, he had 'system issues'. So, he phoned…
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Let to Buy v Standard mortgage
Ok I need to Let to Buy mortgage with a purchase mortgage. Do I borrow 75% of home I will use for Let to Buy and get smaller purchase mortgage OR Higher amount on purchase mortgage and less on the Let to Buy? I am asking this because on Let to Buy the interest rates are much higher (double) the standard mortgage rates. Or…
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What counts as income?
My income would hardly amount to much for a new mortgage. However can I include Child Tax Credits? I would also like to rent out current home I own outright so could I include rental income from my current property to give an overall income to calculate a better amount that would be required to purchase. I have thought of…
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Mortgage Renegotiation
I am currently paying off a mortgage which is fixed rate for 5 years. The fixed rate will expire in early 2017 and will need renegotiating at that time. At the moment I am contemplating switching from a permanent to a long term temporary position at the same salary. Is this likely to cause issues when renegotiating the…
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Broker's annoyed me - want to get Mortgage Appointment Quickly
Hi all Have been applying for a mortgage (moving home) via London & Country brokers, who had recommended going with Accord Mortgages (I know, I've now read the reviews!). Everything seems to have taken a long time. I had enquired with L&C weeks ago about getting an AIP which was fine, then after having an offer accepted…
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Mortgage affordability checks
Hello everyone. I wanted to ask a question regarding the "affordability checks" mortgage lenders/underwriters carry out with my mortgage application. While looking online, I have read several articles about how lenders will look at my bank statement and check my spendings/expenses etc to make sure I can afford the monthly…
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Mortage term - 20 or 30 years?
I'm looking at my first mortgage, and am in the fortunate position that it's looking very manageable: but I don't fully understand the tradeoff between different term lengths, particularly when overpaying above the minimum payment. My repayments are looking to be currently somewhere between £340 (30 year term) and £430 (20…
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Mortgage Lender Deceit?
Hi all, We had a successful mortgage application, the house is perfect for our needs, all we required was a Home-buyers survey which we paid for amongst the mortgage fees, the report arrived recently and was fairly detailed, however, we noticed the following entries from the surveyor: "We are pleased to advise you that in…
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mortgage and tax credits question
I have an existing interest only mortgage with santander. Thinking of changing to repayment if possible. I don't earn much a year but my income is boosted by tax credits. Would t credits be taken into account when i apply for a new mortgage?
