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How often are mortgages declined after valuation?
Hi there My mortgage application with Nat West has just gone on to valuation and we have just paid the valuation fee. We are buying a Help To Buy new build with a 5% deposit. Does this mean that we have passed all the credit checks and the bank just needs to find value in the house? What are the chances of the mortgage…
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The dreaded wait for offer- Precise Mortgages
Hiya, Newbie on here. Due to historic adverse with myself and partner managed to get an aip via a broker with Precise. Full app went in 9/7 and they came back requesting amended gifted deposit letter and due to payslip with ssp on a letter from employer confirming return to work. Sent these back 16/7 and due to product…
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Mortgage dilemna
I have 18 months to run on a 2.5% fix with unlimited overpayments. two options: 1) take up an offer now for a 5 year new fix at 2.5%. 10% max overpayments payment pa, with 5/4/3/2/1 percent penalty for redeeming in each year respectively. Porting allowed. Term 12 years - I expect to clear balance in around 5 to 7 years. No…
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Help with remortgaging needed please.
Hi, yeah a slightly complicated one...... Me and a friend bought a house for £66,000. We were lent a 15% deposit (£9,900, but lets say £5,000 each for arguments sake) by my friends dad to help start us on a project of doing the house up. Anyhow due to my friend and ours differing circumstances we are now in the position…
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Help to Buy Equity Loan
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Five year old adverse credit
Hi, Just looking for a few different opinions on what I should do to give myself the best chance of getting a mortgage in 2 years time. I have 2 defaults (£300 + £184) which are not settled yet. I also have a ccj of £309 which is settled. They all come off my credit file in 2016. I am looking at saving a 15% deposit by the…
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Questions about or DIP
We got a decision in principle from a broker today and would like to ask you all a few questions about it. they were offering 215K loan, with 25K deposit over 35 years(roughly 3.5%). 1st of all ive never really seen a 53 year mortgage. it obviously meeans lower repayments but when i did rough figures it'd cost an extra 50K…
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Remortgage or Buy To Let?
Hi there, seeking a little advice as Im a bit of a numptie with all this. I have recently rented out my property and have gained a Consent to Let with my mortgage provider. 6 months have now gone by and they have increased my repayment percentage as forewarned. The issue is, I cannot change to a more favourable product…
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Joint Mortgage: 1 employed and 1 Self employed
Hi I have a question about joint mortgages if one applicant is employed and 1 self employed. I would like to know how much we are likely to be able to borrow and how the self employed wage is taken into account. I currently earn £25,000 and will be the main applicant and my partner is self employed and has been for the…
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Commercial Mortgage - pay off early?
I work for/own a small business (ltd co). The business has a commercial loan of £253k on a 15yr term used to purchase existing premises from landlord. Our interest rate is 2.8% above base= 3.3% Due to tighter credit controls and better profit margin work, we have been able to build up a surplus in our current…
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Dont give up hope....
3 weeks ago I was looking at how I was going to get out of becoming a mortgage prisoner. I wanted to sell my house, take out some of the equity to pay of debts and basically start again. I approached a online company who dealt with securing mortgage for people with adverse credit history. My credit rating on Equifax was…
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Mortgage advice
Myself and the mrs have had a mortgage for 8 years, she gave birth to twins just over a year ago. We have decided to look for something bigger rather than our small flat. I work fulltime and I am a retained firefighter covering 90 hours per week. The mrs has no income at all. I guess any new mortgage would only be on my…
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Best efforts to get of mortgage
My son's ex. has made no attempt to try and release my son from the mortgage even though the lender appears to be willing to do this on her application. She has since re-married. There is more equity in the property than is owed. The mortgage is for a 25 year term with 9 more years to go. Does anyone know what happens at…
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Remortgage options?
Hi all, Apologies if this has been covered already (if so would appreciate if you could direct me to the relevant links). In brief, I'm coming out of a 3 yr 5% fixed rate (mortgage life is 23 years) in November. My current mortgage is with Halifax. I'm starting to look now into what options I have - especially in light of…
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MSE News: Check your mortgage rate as fixed rates have fallen to lowest-ever level
The Bank of England governor last week said the 0.5% base rate could rise which could mean low mortgage rates jump... Read the full story: Check your mortgage rate today as fixed rates have fallen to lowest-ever level Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it…
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Advice needed on mortgage fees
Hi All, I am a newbie to the forum. :j I recently reserved a new build flat that were exclusively sold via a well known high street estate agent. I was also told that if I took out a mortgage with them I will be prioritised when viewing the flats (something I was not happy about). Upon reservation, I was encouraged to take…
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Wages go in via cheque
My boss gives me a cheque every month which I pay into my current account. Will this be proof enough of my wages for a mortgage with Nationwide? I can't remember how he used to pay me when I got my last mortgage (over 9 years ago).
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When to apply to Nationwide
I am buying my brother out of our property and in order to do this, am taking on our existing mortgage and an additional one to pay him off. I need my full time salary as opposed to the part time one I am on now. I am going back to work full time in September, but I wondered how soon can I then apply for the mortgage as on…
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TSB Mortgage Offer/Life Insurance
Hi all, Me again. We are still waiting for our mortgage offer from TSB (fingers crossed) it is with the underwriters, our MV is hopeful we'll hear something this week. We've also used him to get some life insurance quotes and have been recommended level life and critical illness insurance. Is this usually something we must…
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Mortgage Express – Transfer of Equity
Hi there, I just wondered if someone could explain the process forwhen you apply for a transfer of equity. In a nut shell: My husband and his ex broke up 9 years ago and she continuedliving at the house on interest only. As the house is in negative equity they still can’t sell. She can’t afford to take sole ownership so…
