-
Question re: "tenants in common"
I'm looking to purchase a house with my partner and the plan is for us to buy as "tenants in common", as I will be contributing 75% of the deposit and she will be contributing 25%. We will then be splitting the mortgage payments 50/50 going forward. I envisage being with my partner for the rest of my life, however things…
-
Deposit from savings - any statements required?
Hi All :wave:, If you've saved up all your deposit yourself over 5 years, do the mortgage companies and their solicitors ever ask for proof, or do they just take you at your word? For example to get good interest rates you have to move your money around a lot, so you might not have one bank account with money gradually…
-
Is this possible
Hi, New to this board and am looking for some advise on what is possible or not. Ok the bad news... I am recently divorced up until 2 months ago. The martial home has now been sold and the funds from the household have been received In the time leading up to the house sale I was struggling financially trying to keep up…
-
Vendor won't instruct solicitors until I receive mortgage offer
So, Following on from the stressful time i'm having with my broker... The vendor, who is also the estate agent is also a nightmare. At first, he refused to take property off the market until we got the mortgage valuation booked. Then he refused to draft memorandum of sale until we got results of mortgage valuation. Now, he…
-
Rate Changes - At What Point Do You Miss Out?
If a lender changes it's rates at what point in your application are you still able to stay with the old rate (assuming the new rate is an increase)? Only after the mortgage offer has gone out? Or sometime before then? Or not until you have actually completed on the purchase and the funds have gone through? Does it make…
-
endowment
Hi just had my maturity value for my endowment policy . It was meant to pay £40000 but it will actually only pay £30000. Final year bonus of 1% and terminal bonus of 7% of sum assured with a premium of 52 pounds a week . just wondered if anyone knows if aviva or financial ombudsman was investigating the merger between…
-
Confused about our situation - anyone?
So the background to this is that my girlfriend is a self-employed director of her own limited company. She began trading in January of last year but only traded for six months before we went travelling for 8 months. She only therefore has effectively six months’ worth of accounts although one year’s trading. I am employed…
-
Mortgage interest confusion
I'm probably being really thick but could someone explain this to me Mortgage over 30 yrs 182,350 2years fixed at 5.19% Then standard 3.99% Product fee 999.00 So, balance on taking mortgage 183,349 First payment 1288.11 leaving 182,060.89 Overpayment 60.89 leaving 182,000 Interest added yesterday 1089.38:eek: Direct debit…
-
Applying for mortgage but have existing mortgage
I was wondering if anyone can advise me... My partner currently owns a house which she's putting on the market next week. She has an outstanding mortgage of about £60k with Halifax. We are looking to buy together. I have a lump sum for a deposit (I do not have a house to sell) and don't have a mortgage. We'd like to be…
-
Using revaluations between lenders..
My mortgage is due for renewal (first time for me) and my neighbour's close-to-identical house recently sold for 30% more than my current valuation, which at this point would make a big impact on my loan-to-value ratio. My current lender Natwest is checking if they can do an index-based revaluation or if they'll need to…
-
Additional borrowing
Will mortgage companies lend for tax debt? If you have good credit rating and the loan to value rate is 45% And you can afford the repayments
-
Remortgaging as self employed
Hi, When you remortgage as self employed do lenders use the same process of looking at your last two/3 years net profits to determine how much they can lend you? If you have been making your repayments fine but your net profits have decreased and your can't borrow the amount left on the mortgage when remortgaging, is your…
-
2yr vs 5yr fixed mortgage 70% LTV
Hi everyone, I would welcome your views on whether we should opt for a 2yr or 5yr fixed based on the current views of the market. I've given a brief overview below: We are upsizing from 1 bed to 4 bed house with a LTV of 70%. We've recieved a mortgage offer on a 2yr fixed at 1.69%, this would actually be 22 months due to a…
-
Pulling out of Mortgage
Hi, Bit of a dilemma. I have an AIP from Kent Reliance. I am in the process of buying a shared ownership property. So far £1200 in fees has been deducted in solicitor fees, kent reliance who will be giving me the mortgage have deduct around £750 and mortgage advisor admin fee of £350 ans solicitors have only deducted £250…
-
What is a sanity check?
Heard from my broker today to say the lender was performing the final sanity checks and she expected the valuation to be instructed asap. Is this broker speak? What does it mean? Google is not my friend in this instance!
