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Going interest only for a short time
Hi all, Just wanted to get people's thoughts on an idea I have, some background: My wife is currently halfway through her maternity leave, and her pay (NHS maternity scheme) is about to reduce from half her normal salary to Statutory Maternity Pay only. After a few months, this will reduce to nothing for the final 3 months…
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early repayment fees
Hi all. Just looking for some insight from the community. I have a mortgage with preferred, and asked for a settlement figure. Oddly the sum is the whole term loan amount. As in there is no discount in interest I would pay if I kept with them. I thought that the laws had changed and companies were not allowed to do this?…
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2nd job mortgage
Hi, I'm soon to be starting a new full time job and the contract states that I can't do any other work. However, I intend to carry on at my existing job part time. My question is, would mortgage lenders still consider my second part-time job in assessing me for a mortgage?
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Could waiting for a higher deposit work out better?
We currently have a deposit of £20,000. We are looking for a mortgage around the £180,000 mark. We now have a dilemma. Try and buy now with that deposit. Or.... stay renting for another year (£10000 in rent over the year). If we were to stay renting, and could get the deposit up to say... £30,000, would this have much of…
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Mortgage help- was in debt now repaying it
So I need some help, I am now selling my house complicated family issue and I will get around 130k equity. I am planning to clear all my debt and my monthly income is 3k after tax a month. But I got into bad debt and have defaults from a few years ago with Payplan, but planning to repay in full. I will be living with my…
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Electoral roll not showing on credit checks
Hello, we're wondering if anyone could offer any advice. We want to apply for a mortgage but when we've checked our credit ratings it is showing we're not on the electoral roll. We joined the electoral roll straight after moving in March and have been told it could take about 6-8 weeks for the agencies to update their…
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Any Chance / What To Do
We're in need of some advice as I don't think I'll make it until Tuesday and keep my sanity!! It's a bit of a long story but here goes. We got into a bit of trouble financially about 12 years ago when I took extended maternity leave, a few years after we sold our house and paid what off debts we could with the proceeds and…
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Pay £50k off £72k mortgage?
Should I stay or should I blow? (Values are rounded, so forgive me if they're not 100% accurate.) We have a mortgage of £72k and pay £150 interest each month (2% above base rate). Our ISA has £49k value. It tracks the FTSE which we know is at a record high. We put £130 per month into this. The question is: Do I cash in,…
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Mortgage Daily Interest - settlement figure.
My old monthly mortgage payment occurred on 25th of the month. On 25th April, the closing balance was 160378. I've just remortgaged to a different provider. The mortgage completed on 19 May. Can anyone advise what what my settlement figure should have been based on my old rate of 3.99%? I'm feeling like I've been fleeced…
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Remortaging during consent to lease
Bit of background. Me and my girlfriend purchased a small house 2 years ago in Norfolk. I was living in London at the time but was looking for work in Norfolk. I wasn't able to find work and my girlfriend has ended up moving to London recently. We contacted Halifax who gave use Consent to Lease for 5 years (that's when our…
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Buy to let flat mortgage - but owned less than 6 months
Hi We are looking to buy a flat to rent out - it's part of a block of 16 flats - ground floor and first floor only - we have income of £40k each and clean credit - But - the whole block went into administration by the previous owner (a builder) - it's now been bought by a developer and we are looking to buy off him. The…
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Fastest mortgage provider
Hi, I put an offer in on a property today thinking that I had my mortgage sorted, but unfortunately it's lapsed and I have to go through the process again. The estate agent requires proof of funds before they will forward my offer onto the owner, but the first appointment I can get with my mortgage provide (Barclays) is in…
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Want to buy a second property - advice needed !!
Hi, am hoping I'm in the right place for some advice. My husband and I would like to buy a "doer-upper" second property, to either renovate and sell on, or renovate and rent out. Our own home is worth around £450k, and we have a mortgage of around £40k due to finish in 6 years. We have around £20k in savings. My question…
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Company Stamp?
The Halifax have sent some paperwork to my Husbands employer to be filled in (I imagine this is because he has only worked there for less than a year, and he has recently had a payrise that they'll want confirmed) My Husband works for a small business with only 7 employees. On the documents it is saying they need a company…
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Mortgage calculation
I may be being a bit stupid, but only owe £1000 on my mortgage with 6yrs and 6 months to go, after recently making further capital repayments. I am reluctant to pay it off fully as Barclays want £250 early repayment fees. My mortgage rate is .69% and Barclays have just sent me a new statement showing the repayments at £22…
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Mortgage Quotation searches on Credit File
Hi, A few months ago I took on a Mortgage adviser, he got me a DIP with the Halifax, then a month later when I put an offer in on a property the application failed and he tried a few more places but in the end it was too expensive. I've just checked my Experian report and I can see a total of 5x mortgage quotation searches…
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Britannia rant grrrrrrr
Try and keep this short Remortgage completed on the 5/5 so due refund of over payment from the Britannia as DD taken out on 1/5 Called on the 8/5 who said that yes refund made and will take up to 5 working days to appear in my account Called 11/5 and they said that refund will be made on the 12/5 as it takes up to 5…
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Is this a gifted deposit?
I will be raising the majority of the deposit for my purchase from the sale of my flat, however as I am buying a new build I will probably need to exchange on my new house before the sale completes, and then complete the purchase later. As such I will not have the 5% deposit for exchange and will need to borrow the money…
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Redemption statement 2 months old
I'm transferring my mortgage to another provider at the end of a 2 year deal. The current lender provided my solicitors with a redemption statement that excluded the last two direct debits, presumably because they can't guarantee I'll pay them. So the figure to redeem the mortgage is some £1500 more than we need to pay.…
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Nightmare - application falling apart
Application still with senior underwriter who has signed off all queries as satisfied but has come back saying Nationwide will only take 2 incomes. Broker had originally put my salary as Income 1 salary job Incomes 2 paye teaching job plus self employed work This brought me well within affordability and now they are saying…
