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Mortgage quote selection
I am purchasing a home in a rural area and have 4 different quotes. I am trying to figure out which one is the best bet without considering adding to downpayment. I have about $25K to work with. I am assuming that the line that states "Cash from/to the borrower" is what I have to pay upfront as closing costs and/or down…
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Nationwide SO SLOW
2.5 weeks and still waiting on a decision. DIP fine, few extra docs requested ("flat" not just flat number) and tax overview. Broker chasing and keeps being told "we will action case by end of the day". ThAt was Friday. This is unfair and I am panicking now
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Halifax prohibits final salary pensions as Collateral
I was refused an interest only mortgage using my final salary pension as collateral. My projected pension adequately covered the capital but because final salary pensions do note have a pot, only a guaranteed payout, I was refused a mortgage. I tried to explain that final salary schemes gave a guaranteed payout but halifax…
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Holmesdale salary multiplier to good to be true?
While looking for mortgages I came across this company offering almost 10 times salary. Theres got to be a catch right? http://www.theholmesdale.co.uk/mortgages/mortgage-calculator/affordability-calculator/
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Sole vs joint application
Hi Scenario is my other half has 4 defaults on file registered between August and December 2011. Appreciate this may be difficult to place even with a broker. We would like to get out of rented accommodation soon. I am now looking at whether sole application would be possible (I am the main earner and will provide the…
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Rental property - maybe for personal use
I'm staying in a hotel a couple of nights a week near work and getting a bit fed up with it. The contract was meant to be for a few months and has just been extended for another 3 months which will take it up to a year and I will probably be there for another 4 months at least. I am looking to buy a flat near there and…
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Mortgage with Bank who are also your main current account provider - any benefit?
This is a question more out of interest really. Our mortgage application through a broker is going through Nationwide, who by co-incidence are also our main current account provider of over 10 years. I also have a credit card with them and a loan with them. Our broker suggested that it makes no difference whatsoever if you…
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Should I stay or should I go? YBS
Hi everyone Looking for some help as we're due to remortgage at the end of June. Currently with YBS on a 3-year fix at 2.99, paying £766 a month (total of £900 with a monthly overpayment of £134). We have received a letter from them offering the same rate (very uncompetitive compared with other banks/BS) for a 5-year fix…
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Selling two houses to buy one?
Hello! I wonder if anyone can help offer any insight..... My husband and I have two properties, one being my original flat from before we moved in together and the second being our joint home. We want to sell both in order to buy our forever home. The flat sale is more one of convenience; we just want to get rid of the…
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Advice and options on debt/ FTB
So just pondering on the different options I could have for when we are finally wanting to buy a house at the back end of 2016 (would love it to be end of 2015 but we know that isn't financially possible) so any help will be greatly appreciated. Little background. My salary - £16k OH - £17,474 OH has a default in November…
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is it worth overpaying a mortgage
we have five years left on our mortgage, amount outstanding is £34000 we are hoping to take out a fixed rate with the Abbey which is 1.89% for two years , my only concern is that after the two years interest rates will probably have gone up and so will the monthly payment I'm not sure how over paying works ? I can probably…
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Further advance reason on remortgage
Hi all, first post so apologies if I'm in the wrong part of the forum. We are due to remortgage at the end of our existing discounted term and are looking to take on some additional borrowing when doing so. This will be to clear some existing debts. Obviously we will be assessed for affordability at the time and will be…
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fixed coming to an end
:beer: ok here are my options im sooo confused would really like you lovely peoples input please. Option one ok so i can pay £5`000 off the term.. bringing my mortgage down from 6years 7months to 5 years 5 months. Then monthly payments will be £652. fixed for 2 years. option two 2.49% fixed for two years £613.08 a month…
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Sale conveyancing - restrictions?
I know that when purchasing a property with Nationwide the conveyancing must be done by a firm on their panel. Is the same true for selling a property with a Nationwide mortgage?
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Due for completion
Hi , Currently i am in the final stages of my house purchase. will be exchanging and completing soonly, as solicitor is currently reviewing the pre contract enquiries reply from the seller solicitor My only query is i am due to travel for my holidays in next couple of months after the completion..so i have been looking for…
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Is a broker needed????
Hi All, As I like a thursday night drink in my local :) I got talking to a a regular who I thought already owns a property but turns out he doesn't. He is currently looking to go onto the Help to Buy scheme, he has found a new build property for around £125k, it is advertised as offers is region of which I'm gathering is…
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Which lenders are likely to lend with New job and probationary period
Hi, Just wanting to know from the brokers out there if there are lenders who will lend to someone starting a new job and on a 3 month probationary period?
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Gifted Deposit enquiry
Hi all, just a quick question in regards to a gifted deposit. I am going through a mortgage application with precise mortgages. I have been contacted by my broker and I need to get a deposit gift letter signed. The gift is from my Sister and her partner. Now heres where I have a query, the gift has come from her partners…
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Mortgage approved and SC clearance
Hello there, I have my mortgage approved by Nationwide and the build is not complete yet as it is a new build. I have paid my deposit though and exchanged contracts. There is still 2 months time for build completion. Meanwhile for a new project in my current job my employer, requested a SC clearance and I would be going…
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Getting a second home
We have an equity of roughly 90k on a property worth around 210k. We wish to rent out and remortgage for a new one. Our mortgage is 450 per month, we would receive over 125% over the mortgage payments in rental income, more nearer 200%. We will also have roughly 50k deposit for the new home. We both work and have an income…
