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Gifted Deposit from friend
Hi all, I've had an offer accepted on a flat for £140k but I'm struggling to find a mortgage. I have a deposit of £45k. I bank with HSBC and had a decision in principle for £95k. I went to apply for a mortgage with them but it was rejected due to my income, although I could afford the monthly repayments no problem. I earn…
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Over Payment Query
So fingers crossed the mortgage will be completing soon. The rate we have secured it 2.69% fixed for five years. Due to it been a staff mortgage I under I will have to pay tax on the difference between the staff rate and the rate of 3.5% set by the HMRC. My partner has a savings account earning 4.89% and I understand under…
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Remortaging - 3 or 5 year fix
Currently have a base rate + 1.99% tracker mortgage. Value of mortgage balance is circa £165K No issues with credit etc Loan to value is 52% Looking to remortgage to take advantage of fixed rate for the next 3 to 5 years Any guidance as to the length (3 years versus 5 years) Any pointers in respect of decent providers /…
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Need Some Advice on Shared Ownership and Poor Credit
My wife and I are fed up with renting in London and are looking to buy. Unfortunately my credit rating is pretty poor (to say the least, no CCJs or bankruptcies, but thats the only thing going for it). Shared ownership seems the most likely deal for us. We're saving a deposit at the moment (5% with Nationwide iirc, roughly…
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how much to pay
Hey guys I am thinking of a mortgage. I have two questions. for 110k mortgage. Lets say interest @5 percent. Over 25yrs. What would be the monthly repayments ? Do they increase or decrease over the years? Second question is for a friend. If he was to get a remortgage for house improvement. Hes got planning permission etc…
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'Loan' deposit that isn't actually a loan. Potential problem?
Hi all, I saved a measly deposit for a house and just as I was putting in an offer, I told my dad and he offered to help out with it so I could get a better rate. The problem is he sent the money (£15k) from his company account (XYZ Ltd) and labelled it as a LOAN. The reason this happened is because all his drawings from…
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Mortgage Advice
Hi I have a limited company that I have had since 2010. I am looking to purchase a house after my divorce. I have a healthy deposit and am looking for approx £120k. I am the only employee and 100% share holder. As you will imagine I am struggling to find a mortgage provider even though my monthly income is over £2.5k. They…
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Buying a house - my options
I'm a single 25yo (currently living in Reading, Berks) and I've never bought a property before. I've been renting for the past year but I'm fed up of paying someone else's mortgage - but also enjoy my independence to much to move back with my parents. I have £25,000 saved up for a deposit. I feel this is far too little to…
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Help to Buy - deposit
Hi, I'm seeking to move house and the sales advisor at the new build site mentioned the Help to Buy scheme. I always thought this was for first time buyers but she pointed out that it's also available for those already on the property ladder. Based on recent house prices on my estate, my property is roughly 40-44k in…
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Cashing in unit link endowment
Hi new to all this so please be gentle I have to unit link endowments I want to cash in early five years left to run I know I can't sell them elsewhere and have to take surrender value but can someone advise me on the if I will have to pay any tax on them Cheers
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Halifax credit check pass?
Hi recently got halifax dip, with a 35% deposit. Submitted the full application and subsequently passed the full credit check!! Is this a good indicator that we'll reach full offer as I have a default from 3 years back and I'm concerned it could be and issue. Or a full credit check pass meaning it's fine? Thanks
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Buy to Let as a first time buyer?
My mother has a buy to let property currently rented out for £1600 pcm. The property itself has been valued for £350k, it currently has an interest only mortgage of around £200k outstanding. I have savings of around £20k and would like to buy the property off her for the sum of the outstanding mortgage. Would this be…
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Mortgage Application - Childcare Clarity
Hi all, Just applying for a FTB mortgage through a broker and childcare seems to be a bit of a minefield. Basic facts are such: Joint income: £62k/year + fully expensed company car (which I've been told doesn't affect anything) Mortgage required: £206k with help to buy equity loan and 5% deposit on top (house is £275k)…
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Moving from SVR to fixed rate
sorry wrong one
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Mortgage application - pension and company car
If anyone could help me out that would be really fantastic. I am looking to buy my first house and wanted to know to what extent lenders take pension and company car into account? I earn 35,000 plus company car and petrol allowance worth approx 8,000 benefit in kind according to HMRC. My company also has brilliant final…
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Nationwide mortgage
We own a house valued at 220k. We have debt of 15k. We would like to move to a house valued at 200k. We have had our nationwide mortgage for 7 years and have 27 years remaining. When we took out the mortgage, the LTV was 90%. It currently stands at 43% although NW haven't valued the house themselves and on their system the…
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Do you think we need to go through a mortgage broker? Hubby is a ontractor.
We are in Scotland. Hubby is a contractor, over last 3 years average yearly gross about £90k, He has all his paperwork to show this and is generally in contracts of around 8 months long. I work 3 days per week, salary £21k. We are currently renting, sold our house few months ago. We have around £210k cash. We have not…
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Mortgage advice - Buying new house, already letting out another
Hi all, First time poster but have followed for a long time. I was hoping someone might be able to give me some advice please. My wife and I are hoping to buy a new property, we currently live in her house which is totally in her name. I already have another property which I rent out with the permission of the lender. The…
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First Time Mortgage... Questions!
Hi all, We are considering our first mortgage but have a couple of questions. We are meeting with a broker and a solicitor next week, but any advice given this weekend would certainly help us figure things out in advance! - We're trying to figure out what costs are required (apart from a down payment) in terms of…
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Government money propping up the housing bubble.
An impending disaster IMO.
