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Overpay Buy to Let?
Hi, I jointly own a property with my sister, and we'll shortly both be living elsewhere and plan to rent it out. We've got a Nationwide mortgage on the BMR and it looks like they do a consent to let with 1% charge so our interest rate would be 3.5%. Financially we can afford to plug the whole rent payment, less any costs…
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Shared Ownership - Scotland
Hi everyone, Just wondering if anyone has any experience with shared ownership schemes in Scotland. I'm currently privately renting, paying £550p/m and I found a shared ownership flat (25%) which would be £300p/m "rent" and around £230 mortgage payment. I'm thinking a scheme like this is the way to go as I can afford the…
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Joint applicants to increase affordability
Hi all Myself and my partner are slightly short on where we want to be in terms of affordability. Can I add my Mum as a joint applicant and factor in her income? She has a decent job, a couple of BTL's and a small mortgage herself. What's the restrictions on this sort of thing? I appreciate there are affordability limits…
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Mortgage and Overdraft
Hi everyone, Hoping someone can help. My boyfriend and I are looking to buy a property and I'm concerned that his history of using an overdraft will affect our application. He is now out of his overdraft after coming clean about his prior money issues but had been up to £3k in debt every month since September last year,…
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Credit card debts when applying for mortgage
Hi I am currently in the process of looking for a property (FTB). I have a deposit of £61k (income circa £50k), and ideally would be looking for a 75% mortgage. By the time I come to apply for a mortgage I will have credit card debts of about £5k (at 0%). Would it be better to pay these off prior to applying? I will have…
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paying of debts with sale of house - new mortgage
Hi I am selling my house (separating from husband) and buying a flat. I have a debt (car loan) which I will be paying off with some of the proceeds from the sale of the house. My question is - will there be any comeback if I don't pay off all the debt? When I bought my current house I did the same thing and through an…
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remort, how much will they allow?
I have a lot of equity, and would like to access some, I'm with Bank of Scotland, my loan is £180,000, property value is £500000. It's an LTV of about 37%, will they let me have £100,000?
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Help - can't get off mortgage
Resolved thanks.
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Halifax Decline
Hi all I've received a decline from Halifax. Reason given by broker was "credit score". Broker told me to download Experian report. Experian report was empty for me, it contained no information for the last 7 years, i.e. my existing mortgage or credit cards etc weren't on there. It only had me at my old parents address.…
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Mortgage application submitted
So my GF has just submitted her mortgage application with the broker. Based on the meeting she had with him he said Halifax and skipton were her only options. This was due to the offer needing to remain in place until march next year as its a new build which is due to complete then. Also she needed everything agreed by the…
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Fixed rate or offset with overpayments.
I currently have a mortgage of around 140k and I'll be remortgaging in September. At the min, I over pay £1200 a month but when I come to remortgage I'll be able to overpay 1500 a month due to the interest rate dropping nearly 1.5%. I have 40k in savings and I've always thought that a 5 year fixed rate with unlimited…
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what do you think?
We have enough deposit to buy our 1st home but we have to move house by end of the month due to change of job but within the same healthcare industry. We will be renting in the first instance so we get to know the area before buying. My questions are these: : Will the credit check they do during rental process/application…
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We have an AIP - Should we be worried?
Hi Everyone, My partner and I went to see a mortgage broker/advisor today and went through the process. We were offered an agreement in principle with Halifax. Happy to have the AIP, however worried about a payday loan taken out in December last year. Paid off in full and on time (early, I think!). Should we expect to be…
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Mortgage process, Managment Buy Out = Self Employed?
Good evening, I had a bit of a shock today. I own a house 40 miles from my current work and was just starting the process of buying a house next to my work due to splitting up with my partner. I had a great deal set up where I was to BTL my current house (its a great house in a great spot and id maybe like to return to it…
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Gifted deposit and forms
I have a quick question that I'm hoping someone might know the answer to. We have a MIP with Nationwide and we will be making the full application on Monday. We originally assumed we would be buying in the range of £110-120k so saved up a deposit of £4000 with my mother giving us £6000 and my Grandmother £2000, however we…
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How long Land Registry to update
Hi, I have recently cleared balance held on my Nationwide Mortgage. How long will it take for the charge to be removed from Land Registry? I would like to transfer the property to my wife's name and I was told I cannot do that until the charge is removed from the property. Thanks MS
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Mortgage advice
Family member in process of divorce and will need to get mortgage for approx £45000 on house valued at £150000. Maximum borrowing period would be 15 years. What would be best mortgage available.good employment record but part time with low earnings. Any advice appreciated
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Re mortgaging question - please don't judge
Hi all, I'm just going to keep this simples but as title says please don't judge us. We have a mortgage for £68,000 and a loan for £12,500 - used to renovate the house. Payments are easily maintained no problem there. Have been dealing with infertility for a year. Had IVF (NHS funded) got pregnant with triplets and then…
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Changing job after being accepted for a mortgage
Hi I wonder if you can help. I'm looking to get a mortgage with my partner, I am currently in employment and keen to get the ball rolling, however when we buy the house we would be relocating from Hertfordshire to Gloucestershire. I'm not sure how would be best to go forward from now as if I apply with my current situation…
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Is 5k Debt Each too much?
We want to buy by the end of the year and will have cleared 10k of our debt in that time but we will still have 5k each. Will this on its own stop us? All that is on 0% so I dont really want to pay it off yet. We have a 12% deposit I know there are lots of other factors when it comes to a mortgage but will this on its own…
