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Looking to remortgage property I own with brother after he bought another property
My brother and I are having difficulty finding a mortgage renewal that will fit our current situation. The situation is this; we bought a flat together just over 6 years ago and my brother has recently (last month) bought another property with his girlfriend. We talked to a broker (who has gone quiet on us) and he said…
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Low Income but reasonable deposit & affordability
I have a low income (£8250) from a permanent part time job. I have £14.5k in savings. I'm trying to buy a 2 bed flat within the Edinburgh commuter belt. I found one for offers over £47,000. This would mean a 69% LTV mortgage, and the debt would be just under 4x my income. There are quite a few on the market for £50k. I've…
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Is this a good mortgage deal?
I am new to mortgages and so found myself a broker. I would like to hear your views on whether this first time buyer mortgage is a good deal in the current market. Rate: 4.2% fixed-term 2 years LTV: 90% Income to loan: 5 times Mortgage term: 30 years UK status: Indefinite leave (not EU citizen) Dependents: 1 child Some…
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credit rating questions
So I took the plunge and used Noddle last night to a credit rating. I got 4 out of 5 and wondered how easy it is to get to 5. Is it salary dependent at all, I'm on 23K. All my bank accounts were green, but one was u/c - unconfirmed. This is because I have opeend it recently ready to do a bank transfer to yorkshire to get…
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P60?
Full mortgage application went in on friday through broker. We supplied all our ID/bank statements/payslips/accounts/proof of deposit etc. Broker has said Coventry BS may request a P60 (think thats an end of tax year statement?) Should I automatically get one since it is the end of tax year, I didnt get one but think I…
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And just when you think you are there....
Hello, Just had the mortgage valuation come back and the surveyor has devalued it by 20k. Where do I go from here, have told the estate agent who is selling it and he is contacting the vendor. Do you think they could appeal for to be devalued by 10k. It was a free survey from Santander so they wont release it. Really…
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Is this even possible?
Hi guys We currently have £128k outstanding and just over 18 years on mortgage on our housr which I think (altho need to check )is worth about 220k. Oh earns approx 35k and I don't work as we have two smalls so only have child benefit coming in for them which is approx 130 every 4 weeks. We don't have any other debts or…
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Parents interest only mortgage ending
Hello, My parents have an interest-only mortgage of ~350k , none of which is paid off and which will end in 2017. My father (late 50s) lost his job about 6 years ago (going from a managing director role earning 100k to nothing overnight) and has since been unemployed and diagnosed with parkinsons disease and severe…
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Aldermore 95% LTV Mortgage
:T Aldermore gave us the mortgage without paying the credit cards back! Had the mortgage offer in the post on Saturday! Soooooo happy!!
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Anyone good with numbers and %'s
Hi guys, Anyone good with numbers? I have overall debt of approx £73k left on my mortgage, split three ways 1. Mortgage at 4.78%(approx £64k) 2. Secured loan at 6.79% (approx £8k) and 3. An Unsecured loan at 4.78%(approx 1k) I'm selling my little flat for £84.5k at the end of May. I have just received an offer from…
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Need a new mortage but what to do with the cash
Hi Everyone, I need to move mortgages as I have an NRAM mortgage. I went with Which but they were unable to help me as I have had an IVA. It finished about 2 years ago, maybe a bit longer. I Halifax wouldn't give me a mortgage. This is where it all gets a bit odd. I got accepted for a £12K loan from Halifax at 4% in Jan.…
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How much to lenders actually assess spending?
Just wondering outside of the regular monthly outgoings - how much to lenders look at recent bank statements etc for "one-off" purchases? My broker says that the media have vastly overstated this as a being an issue and he has never seen any problems so long as people don't go overdrawn etc. We are currently in the middle…
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90% mortgage but with adverse credit
Evening all. We have sold a house that we have been renovating and solicitors are working on the sale. We are now looking to buy another that we have seen. We will have roughly 35k in cash but only want to use 24k (10%) as a deposit so we have some money left to do work on the new house. We need a good broker who can sort…
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Employee, self-employed, changing jobs
I've been self-employed for five years and now I'm planning career change and be employee again. I'm also planning to apply for mortgage soon. Should I put my career change on hold now until my mortgage is approved? Or, as a employee, I'd have a bigger chances for mortgage? I've always thought you have to be employed for…
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Rental Mortgage and Residential Mortgage
I have a joint mortgage with my wife. I have 55K mortgage outstanding. Current property price is 140K.... Just wondering if below is possible: - Apply for new rental mortgage and put current property on rent (on joint mortgage) with 25% deposit. - Use remaining equity and buy a 2/3 bed house with 20% deposit on residential…
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Loan and then remortgaging at higher ltv?
Hi, can anyone tell me if this is a bad idea financially? We want to do an extension and loft conversion on our home. Costing around £50k Should increase our house value by around £80k Would it be daft to fund the works with a loan, and pay back the loan in full by remortgaging and taking out some of the equity in our…
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Santander's Rates have gone down again today for the higher LTV mortgages.
Santander's Rates have gone down again today for the higher LTV mortgages. They also go as low as 60% LTV with some great rates - the one I'm opting for is a 5 year fix for 2.29%. Anyone noticing that some lenders will lend slightly beyond retirement where some wont? Surely that flexibility should be law now? Anyway - just…
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FTB - going to apply mortgage in July
Hi, I will be applying for mortgage in July and my credit score is EXCELLENT with Experian now, but i want to get new mobile contract now, will that have any impact on my application in July? Thanks V
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re-mortgaging to buy out partner in IVA
My partner has had recently agreed a full and final settlement IVA. The plan is I will buy his share of the property and this will be used to settle his IVA. I had a re-mortgage lined-up but at the last minute the mortgage lender said they would only give me a mortgage if my partner moved out of the property. Since his IVA…
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Multiple credit card applications and end of current mortgage deal
Good afternoon, Our 2 year fixed deal with Halifax ends in September this year. I have made several credit applications since January this year and have access to 20k more than I did when we started the fixed term deal. However, I'm using 1.5k of existing credit with no other debts. I've also had two 1 month late payment…
