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Mortgage and overdraft question
Hi, My boyfriend and I are both FTB. We both have excellent credit rating and have a 15% deposit (maybe more depending on the house we buy) I'm really worried about our overdrafts. We both have them, and every month I use about 50% of mine and my OH uses around 80% to 90% of his. We always come out of it when we get paid…
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Buying a home/maternity
Hi Looking for some advice. We own a house and are looking to buy and move to another, possibly keeping the 1st house and letting it. My wife is currently on maternity leave. How does that work with getting a mortgage to buy a new home? Is it simple enough? We want to stay with Halifax, who we have our current mortgage…
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New buy to let or just inform existing mortgage provider?
I will be letting out property soon. Have approx. £45k mortgage on property worth £270k Currently with Nationwide. From what I can make out on the Nationwide site, I just have to inform them (which costs £40) and rate goes up by just 1% after 6months. Is it best to just do this rather than taking out a new buy-to-let…
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Homebuyer survey general advice
Hi all, Please bare with me, as I'm a FTB, so I realise the answers to these questions may be blindingly obvious to the more experienced among you, but any advice would be greatly appreciated. So, I've just received my homebuyer report, it has one level three rating and 5 level two ratings, but I think on the whole is ok.…
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Joint Mortgage - Bad credit/Good Credit
Good afternoon all, I currently have bad credit and have started saving with my girlfriend who has a great credit rating, we're going to be saving for 2 years and by then I will have just 3 defaults left in my name (which will have 1 year left before removed) they have been paid off I'm just waiting on them being removed.…
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Selling my council home
The rent for my housing association flat will go up from £850 to £1500 pcm next year as my husband and I earn over the £40,000 threshold (I earn £25k and my husband £16k). We are newly married as I was a single parent for 15 yes previously and lived in the flat with my kids. I think that we will be better off buying under…
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Remortgage question
I live in a popular area in Scotland and many houses are sold as offers over and go for quite a bit above the valuation. If I was to pay say £20k over the valuation, when I come to remortgage can I use the purchase price or would I have to use the presumably lower current valuation price? The latter would obviously give a…
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Nationwide dip new property
We have a dip and started a full application with nationwide. The seller pulled out we now have found a new property. Does this mean we need a new dip & to start all over again?
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Homebuy Direct and Home Improvements
Hello All, Getting conflicting info and was wondering if someone can clear this up please, Our Family brought a new build 4 years ago with the help of Homebuy Direct. 4 years on and we have children but the layout of the house now doesn't suit our needs. So basically we are thinking of putting a conservatory on the back of…
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Stamp duty on gifted equity?
My parents mortgage is up in 2 years time, they can't afford to pay it off by then so me and my fianc! are taking a mortgage in our own name to buy it. This will pay the remainder of their mortgage plus giving us a bit over for us to make some improvements and for them to have some to furnish their new home. The property…
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Help to buy - can we put down more than 5%
So we are looking at buying a new build with the help to buy scheme. Our problem is we can "only" get a £271,000 mortgage and the house we want is £410,000 so government 20% would be £82,000 leaving a shortful of £57,000 (which we have) but its more like 14% rather than 5%. So my question is can we put more than the 5%…
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mortgage advice - 1st time buyer/ ill health
Hi, My boyfriend and I would love to buy a house but I've not been able to because I have been battling cancer. I'm in remission now but due to surgeries/chemos etc. cannot work full time and have been pensioned off early. I do a few days a month with the NHS representing patients and earn £6795 per annum. My teacher's…
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Cash gift from abroad - tax/mortgage implications
Hi all, We are looking to buy shortly and will be receiving a large deposit from my mother-in-law towards the purchase. What would be the tax implications of receiving the cash, and would it make a difference if it was declared as inheritance, a gift or a favourable loan? What would be the most advisable way to declare the…
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Mortgage Support confusion
Hello, i've being completely bamboozled by my Mortgage Support application. They tell that they will deduct interest payment from my JSA....the same interest payment that...they added to my JSA....so the amount of JSA i receive will be exactly as it was before... Seems to me i've been made to go around in circles to go…
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Mortgage application- defaults from years ago
Me and my husband are looking to buy a property for the first time, we have £35000 deposit and putting our income into a mortgage calculator online they all seem to suggest we can loan 320-360. We found a property for £360 but on speaking to a mortgage advisor at HSBC he suggested we could only loan £270, he couldn't tell…
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Do Early Repayment Charges Matter?
Hi All, My girlfriend and I are first time buyers. We are currently researching mortgages and getting our heads around the whole process. We have started to look at properties and have an idea of what we want to spend. We have ambitious goals to pay off the mortgage within 5 years, 10 at most. We currently have no kids and…
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Waiting decision from nationwide - anyone want to wait with me???
Before I chew of all my fingernails just wondered if anyone out there was in the same boat? We got our dip mid July, then lost the househouse, then for it again!! Full application went in end of July. The valuation was done on the 3rd and received a text from them on the 6th to day they'd got results back. Does anyone know…
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Overdraft - how long should I be out of it?
We are paying off a few things in the next few months so should be able to stop going into our overdraft in Oct. If I want to apply for a mortgage how long should I wait after I stop using the overdraft? Is 4/5 months okay? I dont really want to wait much longer but will if i have to. It will take us that time to get our…
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Combination mortgage which to repay first
Hi I have a mortgage with Nationwide part interest only part repayment. I want to repay some of my mortgage. Should I repay the interest only or the repayment part? I suppose I should pay the interest only part but nationwide recommend I pay off the repayment part first. Not sure what to do?
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Port interest only mortgage ?
We are looking to port our current interest only deal with natwest. We have good payment history, no credit problems and not looking to extend or borrow anymore money. Natwest have told us that we cannot port all of our mortgage unless we can provide evidence to show our pension projections will cover the value of the…
