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Mortgage question
Hi all Just after some advice regarding a mortgage. Basically I got into a lot of troubles around 5-6 years ago and entered a debt management plan to pay off Pay Day loans which I never defaulted on. At the time my noddle credit rating was '1'. Through saving and being strict I paid them off in full & now the only debt I…
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Equity release - is interest paid if on benefits?
House owned out right - worth about £140K - £20,000 taken in equity release - if on pension tax credit is the interest on that equity release paid for by the benefits system ?
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Purchase price v valuation on mortgage offer letter
Hi...really could do with some advice... I've agreed a contract price with the vendor on a property for 900k. The bank offered me a 75% LTV mortgage on application, which I accepted. Then the valuation from the bank can back at 800k, and the bank re-offered a 84% LTV mortgage on the valuation, at a marginally higher…
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Documentation required for a mortgage
Hi Could anyone share their experience in terms of the documentation required? How many months of payslips from Nationwide? How many months of bank statements from Nationwide? Work contract? Etc. Thanks.
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Mortgage final payment
Hi, Can somebody please help? My mum received a letter from her mortgage provider stating that her last payment made was her final payment (direct debit) and her account has now been closed. She cancelled her direct debit her end, as advised. Is this letter proof that it has been paid in full because now, (a month later)…
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Becoming a student & first time buyer
Hi, I was wondering if anyone could advise me a little. My boyfriend and myself are looking to get our first mortgage using the help to buy scheme. However, I may be starting university in September (NHS funded) and will then have only a 0 hour contract. He earns 21-24,000 annually. Would it be worth putting my name on the…
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Three property shuffle - bridging loan?
The scenario that the family need help on....... MIL and FIL are great people, who have had some tough times, but are terrible with money admin. They both have credit reports racked with defaults, missed payments etc without any great debt (they manage to not pay £35 catalogue accounts etc). They own property A together…
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Any News on Negative Equity?
Several years ago I got some good advice from others on here about not surrendering my property to my mortgage lender as a result of being in 30K of negative equity. 4 years on, I still have a 1 Bed flat, still 30K negative equity and still on an interest only mortgage as seemingly my lender (birmingham midshires) do not…
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Halifax mortgage app! With defaults please help!
Hi all! I am wondering if someone can help! I have put an offer in on a house which has been accepted. The offer is £240,000 and I have a 10% deposit. I have an AIP with Halifax offering up to £268,000 with 10% deposit. So in brief between 2010-2011 due to some tough family circumstances I defaulted on a few accounts. My…
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Nationwide 2 dips
Had a couple of house sales fall through so I've had two DIP with nationwide and one full application cancelled. The searches were hard searches and we have now found a third house will this affect my chance of being accepted? 2 hard footprints and a cancelled application?? even though the applications are with them??
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Is it worth asking a second broker?
I have spoken to a broker today and got a DIP with Halifax. He told me that the DIP does take into account my partners default from 2011. I do hope this is correct! They would lend the amount we would need. Is it worth just asking another broker to run the figures/details and see what they come up with?
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Complaining about conveyancing solicitors
Hello all. :) I was wondering if anyone could provide me with a little bit of advice. This is my first time in buying a home and therefore first time using conveyancing solicitors. Let's just say I hope that my next time is better! I've heard a few horror stories from friends' experiences of conveyancing, but went with the…
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Share to Buy HELP!!!
I hope someone can advise, we currently own 40% of our property out right and rent the remaining 60% from the local housing association, does anyone know of any mortgage lenders that would lend us the money to purchase the remaining 60% I don't know how it works
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Lender requesting two 'Proof of Address' documents
Hi there, My partner and I have recently applied for a mortgage with Aldermore due to some issues with our credit history. Everything has been going swimmingly and the valuation was carried out at the end of last week. Yesterday, our broker mentioned that Aldermore are requesting two proof of address documents from my…
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Mortgage Express won't let me switch to a repayment mortgage.
Hi, I need some advice. I recetly contacted Mortgage Express to swich my interest only mortgage over to a repayment mortgage. After going through a 1hr conversation where i gave details on my income and outgoings I was told that the switch could not be done as there was a risk that should the interest rate increase to 5%…
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halifax intermediaries calculator question
Can anyone please tell me what monthly expenses are included in the *Credit Commitments monthly payment to remain* box in the Halifax Intermediaries affordability calculator? Am I correct to include in that box childcare costs in the form of childcare vouchers amount? How about credit card payments (minimum amount)? Where…
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Applying for mortage while on sick pay
When we first applied for mortage I handed in payslips with full pay, I have since been off sick from work due an uperation and have only just returned to work. Halifax then asked for another payslip which I handed in but it only has my company sick pay on it. My mortgage advisor said paperwork had been signed off and that…
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Remortgage for house extension
Any help from someone who's been through the process of choosing to finance a build from equity in their home. Looking at current options and not getting anywhere with brokers and mortgage advisers, as future rates are guesswork. Not in a position to go ahead with the build now so options considering for project early…
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Sellers wants long gap between exchange and complete
Had an offer accepted on a house 1.5 weeks ago, after a quick survey the mortgage has been approved. Today I had an email from the estate agent telling me that there is an issue with his mortgage that if the seller completes before November he has to pay a £5,000 redemption fee. He has only just found this out because he…
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First time mortgage and possible other borrowing...
So I've just had confirmation that my FTB 95% mortgage with NatWest has been approved and my offer should be in the post Wed or Thu. I've been and paid for my searches today, and really feel like things are starting to move at a pace. My new house is significantly larger than my current rental property (2 x lounges,…
