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are we eligible for help to buy scheme (20%loan from government)?
hi, me and my sister wants to purchase a house together in manchester of £155k new build, we are interested in using the help to buy scheme where we only need 5% deposit and the government provides the other 20%. however I am already a home owner, my sister is first time buyer, i provide the deposit, she is taking the…
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Early Repayment Charge
Hello all My OH and I currently have three years left on a ten year fixed rate mortgage. The interest rate is high, as you would expect from a mortgage as old as that. We would like to move to a new mortgage and pay the £7k Early Repayment Fee - even with this fee, we have calculated there would be a substantial saving in…
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Re-mortgage and early redemption
Hi I'm currently out of a fixed rate so paying the banks standard rate of 3.89%. The only advantage of this I can see is if I sold up there would be no fees to pay for exiting a deal. I would like a better rate by doing a re mortgage for 2 years and all the fixed deals have penalties if you redeem the mortgage within the…
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Remortgage help
Hi. I have been turned down for 2 re mortgages within the last 2 months. Since then some debt had been repaid. Some debt has been switched from loan to 0% credit card via money transfer. I need to raise ideally 15k. I could save it, but would take a year, and mean the 0% cards won't be repaid. We have high debt to income…
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Repayment vs Interest Only
Hi all Not sure if this has been raised before, but hopefully someone can help. I currently have two properties which are both on repayment mortgages. I want to transfer them to interest only. Now from what I understand the reason why interest only is taken out is for 1. Cashflow, you can use the extra cash to invest etc…
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Nationwide - Proof of deposit question
Hi All, I have submitted a mortgage application with nationwide through a broker. Nationwide wide have asked for proof of deposit. I have £16k saved up over the last year in premium bonds, a ISA with £3k that i pay £250 per month for and my wife's £2k savings. I have asked to provide 3 months bank statements to show the…
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RTB and FTB Natwest mortgages
Hi, This is my first post, so please bear with me, We are going through the right to buy scheme, we have been given our offer price, and going through an IFA through my work for the mortgage, and just wondered what the next steps and really where we are in the process, Friday 04/09 our application was submitted and…
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YBS Fixed rate deals May 2014
I am looking for details of fixed rate deals offered to existing borrowers by the Yorkshire Building Society in May 2014. I applied for a fixed rate at that time but I have no record of the deals that were available as I only looked online. Can anyone help?
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Fixed rate up, want to let. What are my options?
Situation: I am moving abroad for work. Potentially for many years. However I will be on a 3 month trial period (legal for all new jobs in Germany). LTV: 53% Letting for: £750 Current mortgage payment: £430 @ 2.34% Consent to let: My fixed rate with Nationwide is up 1st December. I called Nationwide and asked about consent…
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Different Rates on 2 Mortgages with Same Mortgage Lender?
Hi We have 2 mortgage accounts with HSBC, one is for the original mortgage which we have had for nearly 25 years, and the other account was when we 'remortgaged' a few years ago and took out extra money. Instead of adding this additional borrowing to the original mortgage account, they created a second mortgage account.…
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5% Deposits
Hello All, Just trying to pick peoples brains here. We are presently saving a deposit and pay off some credit card debt with a view to buy a house in say Autumn/Winter 2016. It may work out that due to timings we may have an option to buy a family members house off them around that time (at face value). However, the house…
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5 or 10 Year Fixed Mortgage
Hi, Just wondered if I could get some opinions on my mortgage offer and if I should keep this as a 5 year fixed rate or switch to a 10 year fixed. Just some background: I'm a FTB and have found a property, offered, accepted and been approved for a mortgage. The property is 102500 and I've got a 10% deposit. Due to my…
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Endowment Charges
I have noticed that in the last 12 months or so my endowment statement is showing charges where they never used to (I'm guessing some new legislation has required them to be more transparent). After looking at these, I felt they were rather steep. They are apparently for managing the units for the with profits and…
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Mortgage Reference
Hi, I was wondering if anything can offer, any help or advice, I have been a temporary worker with a recruitment agency for the last 3 years, and have a sale agreed on a property for £68000 with a £8000 deposit. The Halifax, contact my agency for a pay reference, and they responded within 2 working day. My broker came back…
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Kensington Processing time?
Hi, Has anyone recently got a mortgage with Kensington? We just submitted our full application today and wanted to know the processing time these days for Kensington? Our vendor is chasing us every day and asking why the valuation is not done. So two questions: 1. At which stage Kensington orders the survey? 2. How long…
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Self Employed & Mortgage Application?
Hi all, Myself and my fiance are currently about to apply for our first mortgage. However, after studying, I've just this month started working as self-employed, although I'm yet to register etc with HMRC. My fiance is full time employed by the NHS as a doctor, and so does have a good income for us to put forward. I was…
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Pay ERC
I have a 5year fix ending April 2016 at 3.99% with hsbc however they have a new 5year fix at 2.54% no fees and £250 cash back as I'm a advance customer Question is is it better to pay ERC?? £66000 remaining £422.28 ERC Currently paying £684 11year left But overpay £141 every month thinking of going for 8years with a…
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am I stuck? remortgage
Please tell me I'm not stuck when it comes to remortgaging... ty! Ex-council leasehold flat 93 years remaining, LTV under 60%, looking to borrow 200,000 repayment basis for 20 years (could go to 25 years if needed). Gross salary 45,000 and annual bonus 4,000 Other net annual income: child benefit 1,000 and child…
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Overdraft Charge - Mortgage Application
Quick question – I recently set up a direct debit to pay off my credit card and was unsure on which day the money would come out. In paying off my credit card I went into my overdraft and incurred a charge – this will be present on my last 3 months of bank statements which will be within my mortgage application. This is…
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Stay in sold home and rent it
We are about to exchange on our flat and sell it to btl landlords. They are happy for us to stay on and rent it. My question is if we sign a tenacy agreement before hand is there any problems with mortage terms and condisions? are they allowed to rent to the previous owners? if we stay on it wont be vacennt possession is…
