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FTB help
Ive had an offer accepted on a property at 77500, i have 23000 saved, i want to use 10000 as deposit, 10000 to do complete works on house and buy items as im currently living with parents so need to buy everything. before making an offer i used a large number of websites to get calculations and they all said a mortgage…
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Suggestions?
Hi Everyone, Sorry for the wordy post, but I am in an unusual situation and could do with some of your points of view/ideas and suggestions. My partner and I would like to take a mortgage out for a house valued at 200k – only a 2 bed terrace but we live in a silly expensive area. We have a 50k deposit so in principle very…
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Mortgage and divorce help please
My husband and I have decided to separate after 22 years of marriage we have a 21 year old disabled daughter and a 17 year old son who has 1 1/2 years left at 6th form. we have a interest only mortgage of £150,000 with 20 years left to run, it used to be just £50,000 but we remortgaged a few years ago we have an endowment…
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Mortgage Decline
Hi All I'm new to MSE but hoping to get some advice. I recently applied for a Co-Ownership mortgage. Due to my fianc! having a previous repossesion and my 'then debt' this was our only option. I had a credit union loan of £11,0000 and £1000 overdraft. On the advice of my mortgage advisor (I am going onto the mortgage…
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Remortgage and Equity Release
Good afternoon everyone. I am looking for some basic advise please. We currently have our house on the market (1 week) and are looking to sell mainly to release equity because I am pregnant and don't have very many thousands in savings to see me through a sustained maternity period. The plan is to buy another house with…
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Time taken for Mortgage Approval
Hi I am currently in the process of selling out property, I believe the buyers mortgage is with Nationwide, they valued our house last Thursday, and we have not heard anything back, our Estate Agent is apparently chasing this up. Is this normal to be waiting for a week after a valuation for an approval ? Just getting…
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Buying a house sold within 6 months
I'm a first-time buyer who put in an offer for a house. The offer's been accepted, mortgage offer arranged and the legal paperwork is under process. However, I just now discovered that the property is being sold by the vendor within 6 months of purchase. FYI, the vendor has a portfolio of over 600 properties and hence it…
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Handing Over a Mortgage... Can It Be Done?
Hi there, My parents are struggling with paying their mortgage and are looking into handing it over to me and my brother. We are going to speak to estate agents and the building society at the weekend but wanted to ask here also. The house is worth between £300k - £350k, the outstanding amount owing on the mortgage is…
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Shared Ownership Mortgage Calculator
Hi, This may sound a stupid question but, as a very rough guide... When using one of those "How much can I borrow" calculators, do you put the rent/service charge element under "committed monthly outgoings" Eg, say it was £500 mortgage a month, and £500 rent/fees, you would have £500 monthly commitments. According to one…
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Porting a mortgage
Hi all, Got a few questions and wondering if someone on here could help. In a situation at the moment where my husband and his cousin own the house that we currently own. We owe around £97k on the mortgage and the house would sell currently for around £80k tops. Not ideal, obviously in that, for various reasons, we really…
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Nram can they stop my sell ?
Ok long post so please bear with ... My house has been up for sale for 7 years , i have agreed to a sale of 45.000 on the understanding with Nram that they would do a shortfall mortgage . mortgage secured owed 47.736.07 unsecured loan 1.800 they told me as long as i continued to pay the unsecured loan amount they would…
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Tax overview
Am self employed and now had a request for a tax overview form from HMRC for a DIP. It shows my 4.5k tax bill for this year as unpaid, but I'm planning on settling it with the equity from my sale. Or would it be worth getting it shown as 'paid' at any cost e.g. parent will pay it?
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Buying a Flat as a FTB with 95% Mortgage.... What are the chances of Success?
Hi, I'm new to this forum and can't quite find the advice I'm looking for. To cut a long story short, I'm currently in the process of trying to find a property to buy, I live just outside of London so the prices are pretty steep and the most likely option is for me to purchase a flat at around £150k - I have the deposit…
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Would this constitute Gazundering?
Advice sought from more experienced members of the forum. I’m in the process of buying a house, having had an offer accepted at 10% under asking price (it needs a bit of work). A house on the same street has recently been advertised for sale at 15% less than the original price of the one I’m buying. I won't go into details…
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Life time mortgages
This is a plea to anyone who is contemplating taking out a life time mortgage - don't!! My late father took out one, against our advice and that of my mother for £25k in 2003. I've just asked for a settlement figure following which I needed to sit down and mum is left completely shocked. The figure is now £76k! So assuming…
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Parents giving £10k, but how to avoid heavy taxes
Hi All, My dad would like to give me the 10K deposit we need to proceed with our mortgage, but I am aware that inheritance tax plays a big part in this. I am aware that he can give me a £3000 tax free gift this year, and as he didn't give anyone any money last year, he can add an additional £3000 to that making it up to…
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buying a flat in a former sheltered housing block
A friend of mine is looking to purchase a 1-br flat in Hampton (SW London suburb). Asking price is in line - slightly lower than the area but not by much - but also the flat needs some updating. It's a top floor flat in a low rise building (ground + 2 levels), lease length fine, low service charges. He made an offer on it…
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Two mortgages
Hi all,I was just wondering if you could help with the following: We have two mortgages with our bank. We didn't buy new house just have unpaid mortgage on the old house. Our bank doesn't allow us to consolidate these two mortgages. Do you know whether there are any lenders who are willing to bring both of our mortgages…
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Is there help out there?
:silenced:
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Credit Rating
My partner went overdrawn by £21 in January, he was charged £75 by his bank which he only just discovered. Having phoned them, they've said it's an issue at their end and have refunded him the money. However, they said that the £21 will show up on his credit check, which we're doing on Friday in the hope of getting a…
