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Which is better...Fee+Lower Rate or No Fee+Slightly Higher Rate
Currently looking at re-mortgaging. House value is £155,000 and outstanding mortgage is £85022 with 16 years left. Looking currently at tracker mortgages (may fix later) and First Direct seem to come out on top. First option is 1.79% (tracks at 1.29 above base rate) with £1123 setup fee. Second option is 2.19% (tracks at…
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Advice needed - First time buyer
Hello, I'm looking into buying my first property, however i'm only on a 26k salary and have a 15k deposit. I've been looking into the help to buy schemes, both equity loans and 5% deposits - however i'm struggling to see a way forward (the bottleneck seems to be 5x my salary). The only real option is a small studio flat -…
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After full credit check - asked for further info - should I still be worried?
Hi I was wondering if someone can help? Im a FTB and 23 and I am in the unknown here completely. I don't want to keep pestering my broker as I know she has other clients too! I put an application through to Natwest on 02/04/15 and apparently affordability has been passed and credit check done and is ok - the underwriter…
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question for the brokers or anyone who had used one
We are looking to move and have 2 years left of our fixed rate so were going to stick with our existing lender and apply for more as mortgage is portable. The cost of childcare is going against us but that is due to drop soon (I know this will not be taken into account) we have seen a house that we like however it would be…
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HR report out of date for retype?
A friend wants to know some information on a retype of a home report. Why would a survoyer decline it on the basis of out of date. And what does refreshing the report mean?
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Changing mortgage - what fixed period should I go for?
I know that everyone will have their views on this but I am looking to renew my mortgage and have an option of 2 years fixed at 1.45% 3 year fixed at 1.89% and 4 year at 2.04% all with the same fee of £1000 What would people recommend - I know I will get certainty with the 4 year bug payments are like £150 lower per month…
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mortgage with IVA
My partner and I are looking at moving home We have a completed iva on our credit file it was completed 2 years ago and is due to come off our records June 2016 We have around £20,000 in equity in our current home and earn approx £40,000 a year between us How likely are we to get a mortgage with a decent rate? Would we be…
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BTL Stress test affordability
I have spent a good while researching this but cannot get a definitive answer. I want to remortage a currently let BTL property for £195k. Current property value is 260k and rental income is £850pm I fail the 5% affordability stress test at 125% of rental income by quite a bit. Are there lenders who will consider both…
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When does the deposit have to be paid
Hi all, Just a quick question as to when the deposit for the mortgage gets paid, me and my girlfriend have found our perfect house, the only trouble is its going to take around 4 months before we have our deposit ready. We don't want to miss out on the property and having spoken to the mortgage broker he as left me under…
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Lender wants to be joint policyholder on building insurance - which insurer?
Can anyone advise please? Nationwide asked the building insurance be in JOINT NAMES (hubby's and theirs). But so far the insurers I've tried can only add an actual person as a joint policy holder, ie you have to answer questions about their profession, date of birth etc. Clearly can't do that for Nationwide. Does anyone…
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Remortgage time again...
So my current two-year fixed period deal with Barclays comes to an end in September and I'm starting to think about longer-term. (I had an initial Capital Repayment 2-year fixed deal with Barclays, then moved packages to another 2-year fixed, so the mortgage is currently 4 years old with 21 years left to run). Once the…
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Too old for a Right To Buy mortgage??
Hello, I am currently going through the RTB process with my father. The process was running smoothly until it came to finding a mortgage. Hardly any mortgage provider wants to touch us because my father is 70 this year. We have tried calling RTB and although they were incredibly helpful throughout the application they can…
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Do Natwest accept adverse credit applicants ?
Hi, Maybe someone can help? I am a FTB and i am 23. I am currently applying for a mortgage with NatWest (who I bank with) through a broker - My docs been registered now on their system and now waiting for an underwriter to look at the case. I have 2 missed payments and 1 default for £100 (although for some reason it…
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Nationwide - unsecured debt?
Hi I want to apply to nationwide for our mortgage but I'm not sure if that's advisable. We have no debts except 20k PCP for our car - repayments are under 400 per month. Nationwide affordability calculator shows we could lend a lot more then we need (approx 85k combined income) but I've read that Nationwide still decline…
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Halifax Mortgage Application : How long does it take?
Hi everyone, My partner and I have just started the process of applying for a residential mortgage with Halifax. We have literally just had the initial phone call and they have booked us in for the next phone call with the Mortgage Adviser (due to take place tomorrow). Does anyone have any feedback on how long it takes…
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What does SVR for term mean?
Hi I saw an earlier post regarding MAS Complete mortgages so I went and had a look. The link below shows mortgages that might be available to me when the time to remortgages arrives but I am unsure on a couple of the terms. https://compare.moneyadviceservice.org.uk/Mortgages/Step3 Taking the first CBS mortgage as an…
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Mortgage declined on basis of not being on electoral roll
Hi all, I am a first time house buyer who's had an offer accepted of £290,000 on a property and have been applying for 90% LTV mortgages through a broker. Some background details: - Good credit history (924/900 on Experian) - No outstanding loans or credit card payments (never been in default) - Limited company contractor…
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Lost Mortgage!
Hi, I took out a mortgage in 1993 for 25 years. Recently I received a statement of what was left to pay, over £19,000 left to pay with only just over three years to pay at just under £200 a month. It just doesn't add up. I went to my bank and they told me to ring the mortgage dep't, they couldn't find any information at…
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At what point do I approach a broker?
Is it when I get an offer on my own property? When I'm ready to offer on something? As soon as I'm looking to buy so I know if it's possible? I've seen a place I like, I'll be spending the next week or two getting my place ready to sell then putting it on the market, I have a 40% deposit in equity but also some…
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she wants me to move out.....
many thanks
