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exchange and completion same day
Is it possible to exchange and complete on the same day? There is no chain involve. The property I am buying is already empty so no one living there. My mortgage with Halifax and was approved two weeks ago. The deposit money and other fees etc are already with my solicitor bank account. Could I ask my solicitor to explore…
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Mortgage Endowment Plan long forgotten
I have received a letter from ReAssure re a Barclays Life Policy after they had traced me to my current address Policy from 1996 and shows Policy Type "Mortgage Endowment Plan" and is a fund "BL Life Managed Fund" Premium is £0 and current value is not huge - approx £1k (sum assured £3,600) problem: Policy holders and…
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BTL with light refurbishment
Hello, I need some help. My partner & I have seen a property we are keen to buy as BTL. We have a deposit of £622k and we think a purchase price of approx £960k will be accepted. I am an existing BTL landlord. The estate agent has told me a BTL mortgage is likely to fail on this property based on condition. The property is…
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Help to Buy Question
We are considering purchasing a property using the Help to Buy Small Developers (Scotland) Scheme. We currently own our own home. I understand to be eligible for the Help to Buy scheme you cannot own any other property than the one you are buying. I am wondering if anyone has bought a house using HTB when they already…
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BTL Mortgages Eligibility
is the credit criteria the same as regular mortgages? As in, better not to make an application at least 6 months after a credit card application or are BTL a different game all together?
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Buying 2nd home but keeping 1st home (possibly!)
Hello, Could do with a bit of help here, I've done numerous searches but nothing concrete comes up. I bought my house in Feb 2012 for £90,000 (80k mortgage with 10k deposit). A year ago, I remortgaged with the Post Office (Bank of Ireland) with a 5 year fixed deal. I put the house value down at £106,000 as I was aiming for…
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How long is too long ?
Hi, I recently had a offer accepted on house 4th July, I've booked survey already.BUt still have submitted full application to lender as I'm waiting for my sa302 from hmrc who said it could take upto 2 weeks to arrive. Really worried sale will fall through.,, Just wanted to get an idea of others experiences n how long the…
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Keep ported mortgage or switch
I am with nationwide and am looking to change mortgage products with them (can't leave as partner is unemployed so probably wouldn't pass affordability checks). Currently have M1= £120,000 @ boe+2% = 2.5% BMR(ported). M2 = £50'0000 @ 3.99% (SMR). I have 75% LTV. Now I know I should switch M2 to a cheaper rate (Think I can…
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Lender reduced monthly payment after overpayment within allowance
I have just made an overpayment of my 10% annual allowance last week. I have now received a letter telling me they have reduced my monthly payment as from September but I am still in a fixed contract till 1st January. Are they allowed to do this?
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Self employed self build mortgages
Hi. I'm looking at a small mortgage, around £40,000 to finish a self build house. House is up and watertight, internal work now going on but now need some money to complete it. Land and house to date value £150,000. Also self employed and due to building house have not been working full time so trading figures 3/4 what the…
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Deposit increase
So my DIP was successful, 85%ltv, 15% deposit with a Halifax new build rate and the full mortgage app submitted. Now they have come back saying subject to a valuation 20% deposit required and my advisor believes it's down to them viewing the property as a high risk..its a section 106 discounted scheme . It's a joke, you…
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Proving where I got my deposit from
I have £20,000 I wish to use as a deposit for a property. This money was entrusted to a family member by my late Father who kept it until I was old enough to spend it wisely! The problem being is I have been asked by a solicitor to prove where this money has came from, as no solicitor was involved regarding my fathers…
