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Transferring deposit to solicitor...
We are hoping to exchange and complete on our purchase within the next 2 weeks, our deposit and fees (approx 18k) are split over three current accounts to earn interest, when the time comes to transfer to solicitor do I move it all into one account to send over in one go or send three separate amounts from different…
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Anybody grilled on bank statements during application
Due to the new rules when you supply statements anybody been asked about amounts being withdrawn etc. makes sense with dd's who you pay regularly. But day to day is there a trigger say you take out £150 that's ok but if you take out £200 plus that sets alarm bells ringing. Dou you get grilled about anything you spend in…
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Declined Mortgage application due to Shared Access
Hi I am looking for advice please. My fiancee and i are hoping to buy a house which use to belong to her grandparents but now belongs to her Mum, Aunty and Uncle. Her family are happy for us to buy the house. The house is 150 years old and is situated in a courtyard which is also used by a furniture shop. In the deeds, the…
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Transfer of Equity
Hi guys I asked a question a couple of weeks ago regarding remorgaging on my own due to husbands bad credit rating (several defaults in the last 3 yrs all settled now) someone pointed out to me that I may be able to do a transfer of equity rather than remortgage so I have a few questions about this: 1 - what affordability…
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Anybody want to recommend mortgage broker for HTB Wales mortgage
Hi all, I put reservation down on a newbuild in Wales over the weekend and have been slowly working on the mortgage for it. The builders gave me the details of an IFA they recommend, I have gone through my finances with them, they have indeed recommended me a mortgage product (no application done yet, just early stage…
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Mortgage deposit from selling assets
I understand one can have a mortgage deposit from selling assets, mainly furniture and other personal "junk" through private sale. Does anyone know what sort of evidence is required? I realise receipts but is there specific form/info lenders look for?
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Will I get a better rate now?
A couple of years ago we bought a house we used a mortgage broker who struggled to get us the mortgage we needed, but got there eventually. We had an 85% LTV and our credit rating wasn't great including a missed mortgage payment from almost six years previously. Therefore we pay a rate of 5 ish %. Two years on and the…
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Mistake on mortgage apllication
Hi, I have foolishly given the wrong information on my mortgage application with Halifax (and on the title of this thread but it wont allow me to change it now). I have told them about my credit cards and interest free overdraft but for some reason I thought my overdraft was £900 when it is actually £1300. I forgot I had…
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Mortgage for £40k flat?
Hi all Friend at work has been offered to buy their council flat at a hefty discount. Problem is they need a small mortgage on a low value property. Flat is apparantly only worth £40k, they can buy for £18k and want to borrow £18k. I thought they's run into issues getting a 100% mortgage (borrowing same as purchase price),…
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Thinking of a mortgage to buy a home
Hello Friends I am totally new to this, an absolute n00b. I am married and in full time employment. I am earning £39K per annum and I currently pay £379 a month for rent. I would like to own my home. What exactly do I need? I know I need these, but can you please expand if there is more that I need! * Money (is it 5% or…
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Mortgage Fees, When to pay?
long story short. my partner has gone to our mortgage broker and sorted our mortgage it has all been approved there and is going through. then told me she has paid for the broker fees and lender fees and whatever else. my problem is i told her not to pay anything because the house we have made an offer in is still being…
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Indemnity Insurance
I have read the forum regarding reclaiming indemnity insurance and understand that it is problematical. For example, in my case, I bought my property heavily discounted at £42,750 with a mortgage of £60,000. The value of the property in the survey accepted by the bank was £75,000. The bank disclosed to me about 2 days…
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Income Multiples For Single Mortgage Applicants
I understand lenders now take account of expenditure as opposed to previously lending based on multiples of income, but do individual lenders still have caps on the income multiplier they'll lend out? I just received a (single applicant) mortgage decision in principle from my own bank which equates to lending of 4.6 x my…
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Move off lifetime tracker for 2/3 yr at better rate?
Hi, We're moving down the LTV ladder and have the option of applying for tracker mortgages where the rate is c0.75% better than the 2.59% lifetime tracker that we currently have. Switching to a more competitive rate will allow us to reduce the overall length of mortgage by 4 years while paying roughly what we do now. We've…
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New EU ruling - Interest only mortgage
Hi, I wander whether anyone can shed any light on the new EU ruling that is coming in in September 2015 / March 2016. As we have an interest only mortgage, from what I can tell remortgaging with our current lender won't be a problem if we make no changes to the mortgage ie term, address, loan amount etc. So we should be…
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Final checks after underwriters??
Hi, We are going through the process of applying for a mortgage with Leeds Building Society (really wish I never googled them!!). Anyway our broker has said today that our application has gone through the underwriters and is now having its final checks. Can anyone explain what this means? I assumed the underwriters was the…
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Mortgage advice BTL
I now will be debt free today and have a deposit of 100k I earn 49k plus bonus. My debt was from 2012 I got a few defaults which will be cleared on sale proceeds. I was thinking of buying a buy to let are there lenders that would lend to me without having a main property as I'm selling that? I'm living with my husband at…
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Help Please Remortgage Or Interest-Only Equity or something else?
Hello This is a long winded situation so I will try and make it as understandable as possible. I currently own half of my mums house and am due to have a baby. I am not working as I have just started a year out of Uni and I cannot claim any benefits - because I have not yet had the baby, but also because I don't qualify…
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Any options for better deal which would offset erc ?
Hi I'm currently in a fixed mortgage with nationwide till may 2017 on rate of 4.39 :( ! We have an erc of 5% so approx 6800 on outstanding mortgage of 136k which is huge - but rates are so low I was wondering if any deals which could be worth switching so that would offset the erc ? House value approx 210k mortgage 136k…
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NatWest BTL Remortgage Timelines
Background: - Remortgaging my current residential property as BTL - AIP was done by MB weeks ago and went through fine with NatWest - Full application submitted last week Any idea timelines for NatWest and their process for BTL re-mortgage application? Thanks
