-
Are we trapped with Help to Buy (2)?
A couple of years ago we were lucky enough to buy a 2 bed house as first time buyers with the help of H2B Mortgage Guarantee, as we only had a 5% deposit. Without it, I imagine we would still be renting. A lot has changed since then. At the time of purchase we just hoped to get on the property ladder and move on down the…
-
Nationwide valuation....
Nationwide valuation was completed on Saturday. What are the usual timescales to A) know what the valuation came back at and B) receive the mortgage offer? The application originally referred which meant all underwriting had to be completed before valuation. The case was then picked for a random audit and still came back…
-
Am I a mortgage prisoner???
Hi, I had a quick question regarding my mortgage. I've come to the end of my fixed rate with Barclays and now dropped onto the BBBR of around 4.5-5%. A lot has happened since I started the fixed rate 2 years ago, mainly that I quit my job and started my own company. The company has been going properly for around 6 months…
-
Will we get a mortgage?
My partner and I got a mortgage promise from Halifax last month for £211,000 over maximum 33 years on maximum ltv 90% we got an offer accepted this month on a house for £180,000 and have put in for full application for £162,000 which has been referred to business decision team. The reason it has been referred is down to a…
-
How soon can I pay off my mortgage?
I have 35 years remaining on my mortgage, and I currently owe 82k. My interest rate is 5.99%. My mortgage permits me to overpay by up to 5% of the remaining balance per year. I can afford to overpay by up to £400 per month. Assuming the interest rate stays the same, how soon can I pay off my mortgage? Cheers D
-
First time buyer-brokers recommend Halifax and accord
Hi all, As title suggests we are first time buyers. I've been speaking to L & C who recommended Halifax and Charcol who recommended Accord on 2 year fixed rate. Any membera here have experience with either? I've heard Halifax are more flexible? My partner is Spanish and lived here less than 3 years which my broker said…
-
Switching Mortgage
I have a year left on my fixed rate mortgage. Probably a silly question but could I transfer this to a 5 year fixed now or do I have to wait until next year?.
-
Mortgage for agency worker?
Hi im wondering if someone can give me a bit of advice please I currently own a home that has been valued at £110,000 My outstanding mortgage is £58,000 Im currently 'employed' by an agency and earn £9750 a year before my tax credits and child benefit I work 32 hours a week term time I have 1 child What would be my chances…
-
How does a bank/building society value your house
Hi we are looking to move to a new fixed rate but don't know what ltv bracket we fall in, I've checked our house on zoopia but not sure how accurate that it? Also can they tell me straight away on the phone what their estimate is? Many thanks for any help :A
-
Keep or surrender endowment
I asked this question a couple of years back but need to re-visit it again - I have an Aviva with profits endowment that's due to mature in July 2022. The current premium is £60.47 per month (figures in brackets relate to 2015). It was set up to pay off a £25k mortgage (which I've now paid off anyway) but is projected to…
-
Can't shift from residential to BTL
Hello. I hope someone please can offer some advice? I'm the owner of a lovely little one bed flat in Basingstoke with a residential mortgage of 69k and about 50% ltv. It's currently 'consent to lease' for the last few years with Bank of Ireland and on the variable rate of 4.5% with a long term tenant who is a diamond. I…
-
Transfer of Equity - with a friend.
Hi there I am hoping someone can help. I own two properties with a friend. Joint mortgages on both. He has agreed - because I need to pay elderly parents back (their mortgage needs paying off and I have the money they need to do that!) and payoff small debt - to me coming off the title deeds and he remortgaging on his own.…
-
Appeal letter impact?
As some of you may have read in a previous topic, we are seriously considering changing our broker as he resemble a chocolate tea pot is seems! Now my partner is in a blind panic regarding our situation. Our current broker will be submitting an appeal letter tomorrow to halifax regarding our rejection. I think we're just…
-
Mortgage Rates.
I have a quick question...... We've established that due to a default from over 5 years ago on my credit file, we cannot get a mainstream lender to give us a mortgage. Obviously if we do get offered a mortgage it will either be asking for a much higher deposit, or on a higher rate or both. I've seen mortage examples with…
-
If NRAM sell my mortgage
Hello I believe that NRAM will likely sell my together mortgage in the next year or so based on what I've read.... Due to the volume of debt we have, we have never been able to remortgage away from NRAM so stuck on their SVR for the last few years. We have just started a DMP to clear our debt so our credit file will be…
-
Is this so obscured ?
Thinking of moving , we really like a house that I think they would accept 265 for, I would probably look at getting 150 for mine, we owe about 64 on our mortgage , we have a joint gross income of 47000, this would cost us approx 750-800 per month for 25 years (currently on 16 but prepared to take out a longer term as this…
-
What to do!?
After a little bit of help .......we are planning on coming out of our 5 year fixed to switch to a 2year fixed with the post office This is where I'm not sure what will be best to do..... Do we keep our term the same and make over payments? Or Do I reduce the term to keep my payments the same? Our ltv is around 50% taking…
-
Conveyancing charge
Mortgage application submitted over the weekend by my broker. Just noticed that £400 has been taken off my credit card by xxxx conveyancing. What is that for? I agreed to use their solicitor(could it be that?) but haven't given go ahead to start the process. Ideally I'd like to wait until I got mortgage offer in my hand.…
-
Rates rising - don't get caught out
We are hearing that Santander, Woolwich, and Nat West will all be putting up their rates next week. If your broker is waiting on you to progress a mortgage application contact them first thing tomorrow to beat any rises.
-
Would this put you off proceeding
Hi All, Our lender cannot give us a valuation as property shows structural movement. I enlisted the guidance of the structural engineer and he found stair case type cracks in the mortar at the rear of the property by the kitchen drains which he believes is caused overflow of guttering that he thinks is perhaps now fixed as…
