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Panicking...mortgage on a property with an annexe
I am freaking out a bit. We have had an offer accepted on a repossessed property with an annex last week. We are due to have a mortgage valuation done in the next few days. I have just seen some info online about people who have struggled to get a mortgage on properties with an annex. We would have about a 50% ltv if that…
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Strange scenario with evidencing tax credits
I have a mortgage agreed in principle (natwest). LTV 44%. Part of my income is tax credits, these have been used as part of the affordability calculations. However, I start a new job in Sept and my wage will go up by over £10k as I am currently part time. My current 2015/16 tax credit renewal award is higher than it will…
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HSBC mortgage/HO loan - advice pls
Hi All, I need a bit of advice on my remortgage/homeowner loan options. My mortgage is with HSBC. Here are the options: House Price: £290,000 (valuation done last week) Existing Mortgage: £165,000 LTV less than 60% Current rate: 2.89% (Lifetime tracker) Additional borrowing needed: £65,000 for extension HSBC have told me…
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Buying house from parents
Hi I'm wondering if anyone can give me a few pointers on my current mortgage situation. I own an apartment that I have been trying to sell for about 3 years. I have an outstanding mortgage of £87K and have just accepted an offer of 82.5K. After fees etc, I'll need to make up the difference with personal funds. Now, about 2…
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Bad credit rating mortgate
Hi Is it possible to get a Mortgage with a Guarantor if you have a bad credit rating, I'm well on the way to paying stuff off but credit rating shot. I don't need a guarantor to boost what I can borrow as salary will cover I just need a guarantor to cover my payments (which wouldn't be necessary). Are there any normal…
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Unexpected inheritence - overpay mortgage?
I have a mortgage with £44,000 outstanding on the balance (on a property worth ~£125000) and interest rate of 3%. I have been diligently scrimping and saving over the last few years to try to overpay as much as I can (I'm allowed to do 10% of the balance annually without charge) I've just unexpectedly inherited £50,000…
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Urgent advice needed on releasing equity - meeting bank on Wednesday!
hi we have about £145k equity in our house and are looking to release 15k so we can do urgent house repairs. I am meeting our bank on Wednesday and they told me to bring my last 3 months wage slips and my husbands last 3 months of accounts. His are fine, but I resigned from my job in December and haven't worked for 6…
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remortgage advice please
I hoping for some general advice. I own a house worth around £235,000 which is in need urgent necessary repairs (rewiring, new windows, kitchen) and would benefit from some cosmetic ones too. I have debts (credit card, store card, loan, overdraft) totaling £9,000 and £10,000 in savings. I'm 54, work full time, and earn…
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Moving Home mortgage query
I am currently in the process of putting my house on the market which has a mortgage on with HSBC at a pretty fair variable rate at 2.99% above base for the whole duration of the mortgage, I have inherited some money which will be invested in the new property. So I can buy a more expensive house without increasing the…
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NRAM Mortgage Shortfall
Hi All Just wanted to see how many, if any, where NRAM has taken to court to seek mortgage shortfall payment. I was evicted by Northern Rock 5 years ago and been left with a shortfall of £80k. I keep getting letters from debt collectors and NRAM with the usual we will seek payment from wages, bankruptcy etc. I would like…
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Few mortgage questions
Do any fixed rate mortgages also have a fixed revert rate? I'm thinking of taking out a 10 year fixed rate mortgage but having the mortgage over a longer period with the intention of overpaying and having it paid off within the 10 year fixed period. The reason for doing this is to make the payments lower, peace of mind…
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Retention or Re-Mortgage
Hi I know understand the difference between a re-mortgage and a retention product but I was wondering if the retention product are generally competitive or do people usually end up looking elsewhere? My lender is Halifax. The current re-mortgage deal I would go for with Halifax is 2 yr fix at 2.24% @ 70% LTV. I cant ask…
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Property abroad for deposit
Would be grateful for advice. I have a small property abroad which I'm selling to get the required deposit for my first morgage. The property is a gift from my parents who are now deceased. Would I be expected to pay any tax or any kind of duty on the property here in the UK? What evidence would I have to provide to…
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Credit card balance and mortgage application
I pay off my credit card every month with direct debit and have always done so. I am conscious I am about to apply for a mortgage and the current monthly spend on my card is quite high, not in excess of my monthly salary though. It's only high as I've paid for a holiday for me and a friend (who has transferred the owed…
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Can the final offer lower than AIP
I've an AIP with Natwest for xx amount. I believe it is valid for 6 months. I wouldn't be making the full application any time soon. My seller is not in hurry, hasn't found a house to move on but gone away on holiday for 6 weeks. My question is can Natwest lower the borrowing amount when it comes to underwriting on full…
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Use a Loan to overpay Mortgage?
Hello all, I have searched the forum thinking this may have been asked before. Here are the figures, if I take out a 10K loan at 3.6 percent, itll cost me around £180 a month to pay back over 60 months. Paying back a total that is just short of £11,000. If I then use this amount to make an over payment on my mortgage I…
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Buy to let
Hi there, I'm looking for some advice... I live at home with my parents so have little outgoings and have saved £25,000 to invest. Last year I earned £30k but this will be increasing slightly now. I am an estate agent and know that from a house in my area worth £175,000, I would be able to find a tenant very very easily…
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Mortgage broker fee
Hi guys Anyone able to help with this? Have been using a broker to try and obtain a mortgage for my mum to obtain a small mortgage against her house which she owns fully in order to finish off building work. Now, the mortgage hasn't been a straight forward application due to my mum being retired and also a couple of blips…
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How do you know what is a 'soft search' on credit file?
Have a search by lender on day I got my AIP but just says 'credit search.' Just curious really. Is a soft search the same as a normal credit check regarding what is seen?
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Skipton sick pay
Hello, So i have been off work for 2 months due to surgery and I am due to return on 25th July. I receive full sick pay for 6 months so my salary has not changed. I have a DIP in place with Skipton but was wondering if they will throw it out as my last 2 payslips are 100% sick pay? Will an employers reference help? Thanks…
