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Shared equity transferred.
Hi, Looking for some advice regarding the shared equity part of my mortgage. I recently received a letter saying the shared equity mortgage was transferred by my builder to a credit company. I am looking to pay off the shared equity before the 5 year period where interest kicks in (2 months away) but now have to go through…
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Halifax lending criteria?
Does anyone know where I can view this online? The intermediaries site has some basic info but I'm looking for the full lending criteria like you can view with other lenders. After being told by two brokers that we can only get a mortgage with Precise due to my adverse credit history, the broker who works for the vendor's…
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Mortgage Credit Question
Hi Folks, Long time lurker and admirer for the help and advice this board gives to people. The reason for posting is I recently applied to my bank for a mortgage and got an AIP after initial credit check etc. This gave me optimism about getting on to the ladder, despite the fact I don't have the perfect credit score at…
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Houses for sale for £40,000?
Hi, I have been looking to move out of my house and rent a property, but I have noticed the houses around me me are very cheap! There are lots advertised terraces for 30,000-45,000. Would it be possible for me to consider this... I earn £17,500 at the minute and due a pay rise in the next 6 months. I have good credit, but…
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Help to Buy Optimal payback time?
Hi, I'm hoping this question has not been asked already but: 'Is there an optimal point in time to best aim to have the Help to Buy loan repaid'. Obviously there are many variables, the Mortgage product APR, the amount of years left on your discounted period of mortgage, RPI, the rise (or fall) in the value of the property…
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Santander Mortgage
Hi guys, I have a meeting with my mortgage advisor after having an offer accepted on a house. My original AIP was with Halifax but looks like Santander may be the best now. I was wondering if anyone knows which documents Santander usually require? We have a 15% deposit and both have good credit histories. Based on the…
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Changing Loan Amount during application (Post Office)
Hello all, I'm in the middle of applying for a mortgage with the post office. I initially requested a loan amount of £145k and my mortgage outstanding (currently with first direct) is £133k. My house value is £195k (making my LTV 75%) I was intending to use the difference to pay off a credit card (declared on application,…
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PHI as income for mortgage purposes
Could anybody tell me if PHI income (paid via employers payroll system but detailed as PHI rather than basic salary) would be considered by many/any mortgage lenders? Corporate rather than individual policy, tax paid on the income if that makes any difference. Thanks
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Mortgage Appointment Wait
Hello, We are first time buyers and had an offered accepted for a property a week ago. Since then we have provided our estate agent with all the documents they want such as solicitor, proof of funds for the deposit etc.. We also informed them that we could not get an appointment for a mortgage interview, as we already have…
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Old endowment mortgage
Hi all, I had an endowment mortgage during the 1990s but I no longer have it as I switched to another mortgage company and took out a repayment mortgage. I have read the info on this website but I am still unsure as to whether I can make a claim that the endowment was mis-sold to me. Can anyone answer me on this or has…
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2 years fixed vs 5 year fixed
Hi guys, got a bit of a dilemma here and not sure what to do. So I am re-mortgaging the house and my advisor has found 2 offers. 1.7% - 2 year fixed with fees : £345 2.79% - 5 year fixed no fees Follow on rates: 2 years - 3.8% 5 years - 4% Additional data if it helps: House £109,000 Left on the mortgage £72,600 for 15…
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Concessionary Mortgage- Stamp Duty
I bought a house from my sister recently. The market value is £310,000 which was given by Halifax surveyor. My sister agreed to give me gift of £62,000 from equity which is in turn worked as 20% deposit. There was no actual monetary transaction in relation to the gift. Halifax offered me the mortgage for £248,000 (80%…
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Nationwide proof of deposit - after offer?
We are requested to provide proof of deposit because of low loan to value, we are short by £15k for the deposit, I am arranging the deposit. Is there any possibility to provide proof of deposit after getting an offer from NW? Our survey is already done and satisfactory. Please help. Thanks
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LTV vs Purchase Price
Hopefully this isnt a daft question. We have seen a house and its earlier than we anticipated. We can afford to put down 10% if we get it for the right price! It has been on the market for nearly a year, is an older style house and needs work done like new windows etc.. It is on the market for £320,000 and has a home…
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Helping Brother get a place to live
Hi, long story short, my brother (48) was a home owner for many years. Had health problems, wife divorced him and has the children. He has had problems with work due to health issues and has changed job several times in the last 2/3 years. He will shortly be getting £40k from divorce (wife kept the house) and I want to see…
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first time mortgage with renovation cost
Hi daughter and boyfriend have been to banks to see how much they could afford to borrow on a mortgage. Nat west agreed £200k with 5% deposit and hsbc £216k with 5% deposit. They have been house hunting with those figures in mind. They have now made an offer of £183k on a property that was on the market originally for…
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Nationwide instructed survey?
Our application is being processed (submitted a week ago), They have asked us to pay the valuation fee which we have paid and got a text from NW that survey is instructed. But in the evening we got another email to provide additional documents and proof of deposit for the shortfall (£10k short). Are these any good signs?
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What happens to the mortgage if you get divorced?
My husband has left me. We have a joint mortgage currently and I am up to my eyeballs in debt. My first thought was to sell the home then pay off the mortgage and use equity towards the debt. Local rent prices are £2-300 more than my mortgage payments. I can't remortgage on my own as I don't earn enough and have a lot of…
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Increasing deposit what will happen to mortgage loan?
Hello Please can someone help me. I'm trying to get my head round things before putting in an offer on a house I like. My mortgage adviser is on holiday so am unable to aske their advice. I had an offer accepted on a house for £129,000 so when I went to a mortgage adviser he managed to get me a 95% mortgage with Aldermore…
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Overpayments and LTV Help Understanding??!!
Hello since getting a mortgage last year I have been overpaying 45 each month on 580. and my deposit was only 7% Im not complaining but how have I now got 16% equity in the property considering Ive put so little in??!!! I phoned my provider but the couldnt enlighten m on how this has happened?? Any advice much appreciated.…
