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Mortgage and overdraft usage
I'm scaring myself reading horror stories online. I have an AIP with Natwest (my own bank) for a mortgage via a good mortgage broker (at a very good rate fixed for 5 years). I have £140k deposit and want to borrow £110k. I am single with a fairly good income but as I have 4 dependants, Natwest was the only bank who would…
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Buy to let mortgage for family?
Thanks for reading. We are looking to buy a b2l property for my sister and her husband and daughter to live in. We chatted to a broker this morning who said there is only 1 lender who considers regulated b2ls at the moment and talking through the criteria the rental requirement was far too high (being 7.5% of the amount…
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Over paying mortgage, think I am doing right thing
Hi, I have 16.4 years to pay off £58,424 at 2.5%, monthly repayments are £432. I have put my monthly payments to £1000 so I am overpaying £568. There is no penaltys for finishing mortgage early, I have worked it out that I would be finished it in 5.4 years is this right??
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5 1/2 year old default
I have a default that was registered in November 2009, it was a fairly large one at 12k (Car finance). I settled it in 2011. I'm hoping to move house later in the year and thought that defaults are no longer on your credit file 6 years after the date they were first registered but have been given advice by a broker that it…
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PLEASE HELP - Developer now informed us our house is leasehold rather than freehold
Hi, We are in the process of purchasing a property from Linden Homes, it is a two bedroom coachhouse attached to an apartment block. Below us is a bin store (for ourselves and the apartment block) and two car ports (one of which is ours, the other will belong to one of the apartments). Nothing above us. When we reserved…
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Mortgage Advice
Hoping to get some advice, My girlfriend and I are looking to buy a place together. The issue I am having is with how to go about it. I can afford half the budget (250k) for a 500k property in cash. However with girlfriend will need to borrow (230K) to match the other half (60K annual salary). I have read up on joint…
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Swap car lease before remortgage completion
So, I know that it's a big no,no to get new credit whilst waiting for a mortgage to complete. The situation with us is we have the remortgage offer ready to go for completion just after the ERC ends at end of July Have realised that the cars personal contract hire ends before then. Therefore we will be looking to start a…
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Lender asks orginal credit history
I applied for a mortgage but the lender asks me to export my credit history and send it to them. Is it legal that lender ask me to send the original credit history while they can check it?
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Issues with applying for a Mortgage with Nationwide
Nearly 3 months ago, me and my partner reserved a new build and applied for a mortgage through the builders recommended Mortgage Advisors. Due to our circumstances, they applied through the Nationwide. We were told it could take up to 30 days to get an accepted status before submitting the application. at 28 days (whilst…
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West Bromwich Building Society
Hello I'm looking at applying for a fixed rate mortgage product from West Bromwich Building Society. Has anyone got any advice on having used them, specifially what their customer retention deals are like at the end of a product? And by that I mean the rates and fees offered in comparison to other B/socs to others like the…
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Credit checks when moving mortgage with Halifax....
Hi I hope that this is the right forum. We have had a Halifax mortgage for two years. January we came to the end of our offer so applied to move to a new offer & added my husband to the mortgage. We are now at the stage were it has all been agreed but waiting on solicitors to deal with land registry etc, change of equity…
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Changing a mortgage to but to let.......?
HELLO.... We are after some advice about buy to let..... So, we currently have a mortgage with Skipton, we've only had it since Dec 14, it's a standard repayment mortgage. We are now contemplating renting out our flat and was wondering about what we can and can't do. Do we need to change our mortgage?, if we do, are…
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interest only
Hi. Could someone please explain what the disadvantages of an interest only mortgage are if you were to save on monthly repayments and use these savings to pay off equity. Really confused - would appreciate any expert insight. Many thanks
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Second Mortgage
Hi all Just a couple of questions please, I understand Im best of speaking to a mortgage advisor when time comes, buy thought id ask for first hand knowledge as im not in a position to get another mortgage yet anyway Basically, In the near future I want to get a second mortgage, as I want to buy a small property for…
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Will anybody touch us with a barge pole?
Hi All, We have rented our house for the past 11 years and have recently been offered the opportunity to purchase the property from the owner. We were not particularly clever with our finances in our youth, hence the long rental period, but have worked hard to clear as much as we can. Ideally, we wouldn't be looking to…
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Inheritance / remortgage
Hi, i inherited house jointly with sister. She asked me to buy her out. So we agreed price. Fifty/fifty. Next step was me to get mortgage. So got remotgage agreed with bank. One issue my name not on deeds. So this needed to be done (house still in my dads name) my sisters solicitor seems to making this very complicated. My…
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Mortgage deal ending and change of circumstances
Hi everyone, I currently have a Nationwide mortgage and according to their website I could get a really good deal when my current one ends in a few months. However, since we started our current deal our circumstances have changed significantly. We can make the monthly payments quite comfortably - even more so if we get a…
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aldermore questions
Hi there Long story but i refused a mortgage on a shared property due to some defaults 4/5 years old. Due to the limited amount of lenders and the fact the property was put back on the market and sold to another buyer i decided to look at 100% ownership. I have an aip with aldermore for 90%LTV which was initially referred…
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unplanned overdraft in mortgage process
hi there just recived letter about unplanned overdraft - used wrong card :( i was refused twice for the mortgage and then accepted for the 3rd time then we have changed to another property another application was made today and i also recived letter today about the overdraft on the 16/06/15 so 2 days ago the most important…
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BM Interest Only Mortgage
I have an interest only mortgage with Birmingham Midshires, SVR 4.83%, approx 10% equity. A broker has suggested that I call BM to see if they can offer a better repayment deal but before I do I'd like to hear from anyone who's done this. What questions are they likely to ask etc... Thanks in advance.
