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mortgaging house near unstable land
hi guys, I'm looking at a property which has no subsidence issues, but geological survey says the land is high risk of instability within 50m of the property, as it is classed as peat, do mortgage companies have a problem lending on this type of property or only if the house has had subsidence. help please.
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consolidate for a mortgage
Just wondering Currently have 2 loans one with £6300 outstanding at 9.7% APR with Llloyds one at £4500 at 10% apr sainsburys im going for a mortgage in the next 12 months and have a deposit of 4k so far and hoping to have around 12k is it wise to consolidate these loans and try for a better rate to bring monthly outgoings…
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Loan repayments when applying for a mortgage
Hello I was just wondering if anyone could clarify if you need to declare a loan with less than 6 months remaining when applying for a mortgage? I've seen on some affordability calculators that they only want you to declare loans with more than 6 or 12 months remaining and was wondering if there was a general rule? Thanks!
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Where to start? Advice please
I haven't done anything except put figures in to the various calculators to see how much I would likely be offered/monthly payments etc I don't know how much I'll need to borrow yet, could be anything from 40-70k but have been reading that you need to get a mortgage sorted out (or at least the process started) before…
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Equity release out of residental for a Buy-to-let
Anyone know any lenders who will do a remortgage (equity release of) of a residental mortgage to purchase a buy to let? Thanks in advance.
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Daily Interest and overpaying
Hi I have a question about the KFI I received for a mortgage. The loan is calculated daily. It says: You can make overpayments below £1,000 each calendar month. Any overpayments made will cause the amount upon which interest is charged, to be reduced at the month end. Does that mean the overpayment is not taken off the…
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How much can i borrow?
Curreently have around 4k savings but will have 10-12k by march next year when im looking to buy. Im a first time buyer and am currently on a wage of £22.5k per year. around £1500 per month. outgoings are £300 for loans and other commitments like mobile phone etc. im wanting to go for a new build and get the gouvernment…
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Surplus Funds from remortgage
Hi all My remortgage for £47.9k completed last week. The loan amount is based on my previous lenders statement dated 31 Dec 14 (exact amount £47912) Taking into consideration that 6 repayments of £379.81 have been made prior to completion (amounting to £2278.86) resulting in surplus funds. I receive a cheque from the…
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mortgage refused with bank, using a broker - fees
Hi all, I saved and took out credit cards and spent sensibly over the last 9-6 months. My Experian report is 40 off good (so it's in fair) I save £8k with my save to buy (nationwide) and I called them after finding a house this week and they declined me based on my credit score - I have appealed and will find out tomorrow…
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Use house for long-term repayment
We have been looking to move house, but find that houses where we are looking are more expensive than where we currently live. We are both in our mid 40s with children. We are looking to work to an area nearer where I work as I currently have a 2-hour commute each day (an hour each day). However, we have been on a…
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Mortgage tools - how do I work out payment after deal ends?
I am looking at moving home and I am looking at a 20 year mortgage on £60k. I like a Nationwide 3 year tracked which is 1.69% for 3 years then their SMR of 3.99% At this stage, I want to do a lot of maths and not speak to their advisors. I want to work out how much the monthly payment will be at 3.99% in 3 years time. Can…
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Platform Coop timescale question
Hello Heard from the EA that the survey that was done a couple of weeks ago by our buyers was an independent homebuyers report and that their mortgage survey is booked for 10 days time. I was under the impression our buyers had applied for their mortgage two weeks ago. It can't take that long surely? My Halifax mortgage…
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Virgin Money Offer & Survey Information
Hello All, I posted here a wee while back about a potential problem with our mortgage application and got some nice answers and advice. The good news is the problem was a non-issue and everything has progressed very well (although slowly) and we are now in receipt of an offer from Virgin Money that arrived today very close…
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advice sought
My wife and brother in law own a house mortgage paid, my brother in law wants to sell out and we have agreed a price. My wife wants to buy him out and arrange our two sons to take a mortgage on this properrty, my wife has contacted a local solicitor who has not returned her calls and preliminary checks with a financial…
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Natwest Decision in Principle
I applied to Natwest today for a 'decision in principle' and it was accepted. It also said that we may be able to borrow 90k more than we had asked for. (We don't want to borrow more than we asked for, but I'm including it for info in case relevant). My question is, how reliable, in general, is a Natwest DIP please? I'm…
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Applying for help to buy equity loan
Ok, so here are the facts - We are looking to buy a bigger house with the help of a help to buy equity loan. I'm confused about the process as, from what I have read, you need to have reserved a new build home before you can put in a help to buy application. My question is, to reserve a new build home we would have needed…
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Consent to let
Just wondering if I would be able to get consent to let in order to move back to my parents for a year or two and save the money to extend the lease on my property?
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mortgage offer comes to you or the broker
Where does the lender send the mortgage offer to when applying through brokers? The broker or the applicant. Solicitor ticked the boxes to say they've received the offer but I haven't received anything. Broker said the offer came but not send me a copy.
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Overpayment advice to new homeowner
Hi all, New to mortgages after buying my first home recently and require some advice on wanting to make overpayments.. I'm with the Bank Of Ireland UK, it was my understanding when we took the mortgage out that we could make overpayments. In my mind, this meant we could take a longer mortgage term (35 years) so that we…
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Eligible for help to buy equity loan?
We're looking at homes worth £250,000. Maximum mortgage we can get is £150,000. We will have a deposit of £50,000 from our current home. Are we eligible for a help to buy equity loan to borrow the extra 50k? Any advice much appreciated!
