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Opinions- 2 or 5 year fix in our situation
So our current deal with Natwest is ending and have been looking at the deals they can offer. We would ideally like to stick with Natwest as we've been happy with them and it would avoid having to pay new arrangement fees etc. and reapplication with another lender (the new mortgage lending assessment criterion make me…
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Mortgage offer less because of season ticket
Hello, I earn 37k per annum. I have offered 165 000 on a house and have 17k deposit. I applied to Santander through a broker for a mortgage of 148 500. Santander have come back today offering a 142 instead of the full 148 because of a season ticket loan that is deducted at 449 per month from my salary. Can I appeal this as…
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Chid benefit
I'm part way through a remortgage with Nationwide, everything has been agreed in principle and I've sent off payslips etc which support everything. The next stage is valuation which is being held up slightly as they want evidence of child benefit entitlement, which for a start seems slightly mad as if we couldn't afford…
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remorgtage complicated due to BTL to family member
Confusing one....but desperately need good advice. I have a property in my name that my MIL lives in. She pays nominal rent to cover the small mortgage. But nothing close to the market rent. We are remortging our own property that we live in. the remortgage company (virgin) want to know the details of the BTL (where the…
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Broker struggling to find mortgage for 1 year of accounts.
So a while ago I posted on here- I quit teaching to set up my own childminding business which has been running officially just a couple weeks short of 1 year. The business has really taken off, and combined with a ridiculously good one-off estate agents offer (flat fee of £500) we needed to upsize to a larger house. My…
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LTV % question
My mortgage is due for renewal this December and just wondered how I calculate my ltv. I take it I would need to get an estate agent in to value the house. Would I also need to ring the current lender and ask them what my loan amount will be at the end of the mortgage term or would they just give a current remaining…
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Currently no chance of getting a mortgage but how to plan for the future?
My partner and I are currently renting but aiming to buy our own house in the future. He was made redundant in 2011 and a period of unemployment had serious consequences for our personal finances and he ended up defaulting on 2 personal loans of high value (one approx £9k and one approx £5k) and has been on a DMP since…
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Halifax and mining report
Hi, We are in a genuine rush to complete on our sale & purchase. The only thing holding it up now is Halifax to look at a mining report and give authority to proceed for our buyers mortgage. This should be a formality as shaft is within 20m but more than 5m away from our house, 3 houses away i believe. Does anyone know…
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Mortgage broker - how many mistakes is normal?
I was wondering if someone may shed some light, I would like to know how many mistakes are normal to make on a Natwest application? are they particularly difficult? I dont know whether I am just overreacting but she is making so many mistakes. I go an accept subject to valuation on Friday and the valuation was booked in..…
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buying only diy
:) Hello I am only buying a property that I know very well. Has anyone done this themselves? What is entailed in my doing this myself no chains no mortgage Thanks
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remortgage process????
question is for a friend. If he was to get a remortgage for house improvement. Hes got planning permission etc for an extention. Hes already paid 90 odd percent of his mortgage. What will be the procedure? He needs an additional loan of 70 k. His house is worth 130k currently. And how long does the remortgage process take…
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Mortgage offer only valid for a month
Hi all, I have a mortgage offer from HSBC - it's a full offer (although subject to valuation) and not just an AIP - but it's only valid for a month ('normal' for HSBC, apparently - don't know why). I've queried it with the MA who says if it expires I 'might have to sign another offer document'. Just wondering if anyone…
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Is it a good idea to try to reduce term? or overpay?
Hi Guys, hoping someone can help me. I am in the process of remortgaging. I went to an appointment expecting to save £180 PM on what I pay now on a 3 year fixed rate with a different provider. I left the meeting saving only £120 p/m over the 3 years fixed term but I have cut the overall remaining term by 2 years (22 to 20)…
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PDLs & mortgage applications
I am in the very early stages of apply for a shared ownership mortgage on a property. Up until about 18 months ago I was struggling on a very low income and regularly used payday loans. The most recent (2 years ago) defaulted and it took me a year to pay it off (now settled). I came to my senses and swore off PDLs for…
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mortgage application and very old late payment on credit file
In advance of undertaking a remortgage I've obtained my credit file from Experian / Equifax etc To my surprise I've noticed a very old late payment flag relating to a single month of June 2009 for Virgin Media. Total surprise to me as that account (now closed in 2011) was always taken monthly via direct debit etc with no…
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Mortgage Application with Credit Card
Hi all, I'm going to be applying for a mortgage soon and will finally in just under 2 weeks time be debt free (apart from my mortgage) since my early twenties. :T Does anyone know whether paying the credit card off in full and closing the account will affect my mortgage application either positively or negatively? I could…
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Which stage of the mortgage application is the deposit paid & last credit check done?
Yyyyyyyyyyyy
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Porting to a much cheaper property
Hello, I was hoping someone would be able to help my wife and I. We bought a house in 2013 for 220k (176k borrowed) on a 3 year tracker - this will expire in 2016. Our equity to date is roughly 50k. I have 100k cash savings. We want to move home and use some of the cash savings but don't want to move in a chain as the…
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Applying for mortgage whilst on Debt Management Plan ?
Hi, my partner and I currently have a fixed rate mortgage with Halifax which has a penalty until end of Aug 2015. We would like to move to a house at price £160000. Our current mortgage is £133000 and our current home is valued at £185000. Mortgage is 'portable'. Last year, I undertook to pay debts of £20000 via a debt…
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Paying 68,000 but cant move and get 60,000 mortgage
I am trying to move and currently have a 68,000 mortgage which I have been paying without any problems. My current lender now says that I cant afford to pay the 60,000 that I am asking for. My tax credits have gone down but I can still afford to pay this, as my monthly payments will go down with the smaller mortgage. Does…
