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New Credit Card before final approval of additional mortgage borrowing
Hello, I'm taking out some additional borrowing on a Nationwide mortgage for furniture, decorating etc. (approx £15k) and got pre-approval. With this additional mortgage borrowing the LTV ratio is approx 45%. It hasn't had final sign off from the underwriter yet- and since the process started I took out a new credit card…
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2nd property options
I just got married and we currently own a flat valued at 125k and an outstanding mortgage of 85k (+10k savings) which will be up for renewal early in the new year. Our plan is to buy a house ~150k to live in and we will rent our current property out. The rough calculator says we should be able to borrow 210k with both of…
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Payment made between redemption statement and completion statement?
Just about to complete on a remortgage. We had a redemption statement a couple of weeks ago and completion statement today. In between the 2 I had another mortgage payment go out. As this amount paid wasn't on the redemption figure there is no allowance for it on the completion statement. What happens with this payment,…
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Mortgage for Auction Property
Hi All, I am looking for some advice as I am a first time buyer hoping to bid on an auction property at the end of this month. I understand that a good broker and solicitor is imperative if buying at auction with a mortgage but I'm slightly confused as to whether a mortgage in principle or an actual offer is advisable? My…
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Self employed mortgage help
To cut a long story story short, I worked for a Ltd company on an employed basis for 10+ years. This company was then taken over by another company, which is a partnership. I had to transfer over to being a partner, which I did beginning of April 2014. Although I am technically self-employed, my equity stake is minimal…
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Mortgage/Remortgage Help!!
Hi Im new to this and would really appreciate any info/opinion on my query... here goes... My husband has mortgage in his name and part was taken out by his dad in order for him to buy his house, the part his dad has is interest only and is due for payment in 4years. My husband now earns more money and although I am not on…
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Contractor needing buy-to-let mortgage
Hi, I am a contractor, and have been in my current position for 9 months with no sign of it ending. However I am only contracted for 3 months at a time. I am a first time buyer needing a buy-to-let mortgage. I have 70k deposit, and will need to borrow 50k-60k. Does anyone know if this will be possible? I'm aware having…
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Chances of Halifax mortgage with defaults?
Hi First post on this forum, so hoping to get some opinions & reassurances please. Our current house is mortgaged with Halifax at the moment (although in my partners name only not mine). We're looking to move to a house and have seen a new build we're desperate to buy. The price of the house we want is 425k. We have a 10%…
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Mortgage prisoner
I notice on Martins thread the other day he said that there are a few companies helping mortgage prisoners does anyone know who they are? We have been hit with the Northern Rock selling us onto NRAM and now Tulip we are both Self Employed and our accounts dont show as earning enough money for the size mortgage that we have…
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Shared ownership worth it?!
Hi all My partner of 4 years and myself have found a 50% shared ownership property that we really like but I'm wondering whether we'll be accepted for the scheme. We are both FTB... My partner has a good credit rating but I don't (recent late payments and a 12 month old default) so is it worth him being the sole applicant?…
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FTB Getting stressed
Hi Everyone, We are first time buyers up in Scotland. We had our offer accepted on a house about 3 weeks ago, done our full mortgage application and got out mortgage offer. we have now been waiting aprox 2 weeks on the solicitor - she cannot proceed as the sellers solicitor doesn't have the title deeds, should I be worried…
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FTB waiting for mortgage offer
Hi :) Has anyone been successful in getting a mortgage with Kensington please? Im the 2nd applicant on the mortgage app with a zero hr contract. Does anyone know the timescale please? :) TIA
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Remortgaging advice needed
Hi There, first post here, i can't find anything advising me on this anywhere... Me and my partner currently own a flat, we originally purchased it to live in it back in 2006 (great time to buy huh? :/ ) but over the years our family grew, we turned to renting ourselves and letting our flat out. We obtained permission from…
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Second home with shared ownership
Hi I am a house owner 50 years of age with no mortgage, considering remortgaging my current property ( 30% of my its value ) to raise money to buy a 40% share in second property, the other 60% will be funded and owned by my parents. It will all be legally documented, I'm just wondering if there are any tax implications or…
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Can we get a mortgage while I'm a student?
My boyfriend and I have decided to buy a house together. I have inheritance money for a good deposit and we know we can afford the monthly costs. We've been to various banks, building societies etc but they've all said the same thing: do our online affordability calculators! We have, we just want to know if my income is…
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Shared Ownership
Hi, Looking for guidance if possible. I currently have a mortgage with Halifax on 50% of my house through Orbit housing. My girlfriend who moved in with me 2 years ago has now sold her house and would like to buy the other 50%. Is it possible for her to buy the other 50% with her own mortgage?
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Early Repayment Fee
Hi all, I took a 3 yr fixed mortgage with NatWest, understanding it is transferable if I move house. Life changes (as it does) and I've had to change job and buy a new house this year (1 year left on the fixed rate). NatWest won't offer me a new mortgage as I've only been in my job a couple of months (so I can't transfer…
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Re-mortgage
Hi - we are planning to re-mortgage soon as our fixed deal is ending. I understand that it involve a valuation/survey from the mortgage lender, but we have added on a conservatory - will this mean any additional searches or anything for us to pay for? Also - fixed rate or tracker? Thanks!
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Interest only mortgages
Hi I have friends with an interest only mortgage that will end in 2 years. What will happen if they cannot afford to pay off the mortgage, will they renegotiate a new payment each month? Or will they have to sell their property. Thank you
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Would a mortgage Early Redemption Charge be tax-deductible on BTL property?
Hi, (I have asked this on the 'cutting tax' board and had no replies, so thought that I would try here. I hope that that's ok.) Does anyone know if an ERC would count as an allowable expense to be offset against tax for a BTL property? About a year ago the consent to let on my flat that I let out was expiring, so I…
