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Longer Mortgage Term
Hello I need help on helping me make a decision as to whether to apply for a mortage term of 20 years or 22 years (22 years would take me to 65, retirement age). Obviously extending the term reduces the monthly payment. As I see it its a lower monthly amount to "make". I intend to overpay religously on top of the monthly…
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Is this a gifted deposit???
Just wanted to ask advise about deposit on behalf of Niece. She has savings of £75k which she saved whilst she had a higher paying job. Due to a lower paid job now, she can only get a max mortgage of £100k. She has seen her perfect house but at £200k, leaving her £25k short. As both parents are retired and don't have much…
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Lenders and brokers
Hi all, (and especially the brokers here) Am I correct to assume that neither Tesco or Yorkshire BS are available throuth brokers, but, that they are direct only.?
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Mortgage with parents
I wonder if someone can help me with a query. We have been considering buying our home under a joint mortgage between myself and my parents (one of them). This is so that we have a combined income sufficient for a mortgage. They are now over 60, and I am in my 30s. Because one of us are in the 60+ category, does this mean…
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Mortgage for 79 year old?
Thanks for reading this. My father in law needs to get about £50k and the only potential source is his house. He owns it outright and it is worth about £170k. We have looked at equity release schemes but the interest costs are prohibitive. Is it possible to get an interest only mortgage at his age? If not, any other ideas…
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Help - purchase about to fall-through due to solicitor
Hi, I need some advice. I had an offer accepted on a repossession property last month, I outbid a cash-buyer who was close to completion, as a result the vendor imposed a restriction that I had to exchange contracts within 28 days otherwise they would go back to the cash buyer. I said yes, because, and I know everyone says…
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Post Office - employment reference
Evening all. I'm having so much trouble with getting my employment reference out of my employer for my Post Office full mortgage application. Basically, I have recently been on maternity leave (went back to work full time last week) which I declared before going through MIP - Post Office suggested depending on…
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Shared Equity Help
Hi All, I purchased my home 6 years ago for 130k using the SE scheme. Property £130000 Shared Equity 80/20 £104000 ( £26000 is what we will owe to the builders) Mortgage is (after paying a deposit) £97500 x 25yrs We received a letter today saying we to start looking at options on how to pay back the 26k, there will be a…
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How to make offer without revealing DIP max?
If I make an offer will a vendor's agent ask to see my DIP before considering us? Reason I ask is that my DIP is ~30k above my offer and I obviously don't want vendor to know this...
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Bad Credit??
Posting on behalf of my son, he has applied for a mortgage with Nat West, he banks with Halifax and has a personal loan with them and also a motorbike loan too, about 3 years ago he defaulted on an Argos Card (paid off in full) and it was after these defaults he applied for a loan and also a bike loan, upto here no…
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Colleys Halifax survey
Hi Any advice appreciated. Had an offer made on my property which we accepted. The buyers instructed Colleys for their survey for mortgage purposes......surveyor has down valued...BUT their report has according to the agents valued the property as leasehold, with a ground rent payable annually when the property is…
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Nationwide: Taking out a new product
Hello, My Nationwide mortgage 2 year fix will expire at end of the year. When the time comes to choose a new product will I have to go through the affordability checks again? My wife has reduced her hours since having a baby and we have taken on a home improvement loan so doubt we will pass - but don't want to be stuck on…
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More than 1 seller on contract ?
my wife and I are buying a new build. Our solicitor has had to refer the contract to our mortgage company as the contract States 2 sellers. One is the landowner and the other is the developer who built the houses ( as the developer u assume went in joint with the landowner). Just curious if anyone else had had this , as…
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Mortgage declined
We have just been declined a mortgage by Natwest even though we passed there affordability checks while doing the in branch appointment and have a near perfect credit reports (from Equifax and Experian). When we queried the decision we were told that there is flag on our account saying apparently I had a non-paid credit…
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Outright 'no' for a mortgage?
Hi, Im looking or advice on what you think our chances are of a new mortgage/remortgage. The facts... We would like to either remortgage and release some equity to extend our current house, or get a new mortgage and move to a new house which is a bit bigger. The problem is is that i am paying a balance of £3300 to a debt…
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HMRC tax year overviews for LTD company
I am going through the process of a mortgage application and the lender is not happy with just the SA 302s for the 3 years accounts required, they are also asking for tax year overviews. This was not a problem with my personal tax year overviews (sole trader years) as my accountant simply printed them off line. However the…
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Spanish mortgage
Hi, we own a holiday home in Spain. We bought it 7 years ago and took out a Spanish mortgage. We have friends that holiday there and they love it. They have asked us if they can buy half off us, and then it would be half theirs. We are more than happy to do this, but not sure how we go about it, we still have a 15 yr…
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Buying a second house using first house as deposit advice.
Hi, Advice needed. I currently have a property that i rent out. I bought it for 89.5k and have about 50k left to pay on it. The mortgage payments are being fully covered by the rental income. I am currently living in rented property myself and pay £470 per month. I am now wanting to buy a second house to live in worth…
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How do I loan my son a mortgage
My husband and I are retired and living abroad. we are about to sell our house in the UK and buy a smaller one with our son as a one third owner. Im pretty sure he wont get a mortgage via the usual routes, so we want to lend him somewhere in the region of 80k to buy one third of the new house with us. The benefit for us is…
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Please HELP ! Getting a mortgage on a land agreement property
Hi All, Sorry if this has already been posted but couldn't see. I am almost at the end of buying a house but an issue has popped up. The last remaining action left before we can exchange Our solicitor has noticed that the contract is being sold by a developer (Which built the house) however the land is owned by someone…
