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Advice required - Good credit score, but struggling for Mortgage approval
Hey all, I hope to buy a house in the near future but am struggling with Mortgage approval and AIPs through online soft credit checks, so I'm here seeking some advice how to improve the situation. Let me give you some details: I have a 977/999 credit score with Experian (I don't have an account with any other agency). I…
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Mortgage application
My partner and I are looking to acquire a property (inc fees) for £500k. Deposit = 100k Mortgage = 400k (we are thinking interest-only) Or joint income is 100k (Mine = 65k, partner = 35k). We both have v decent credit ratings (according to Experian) I own an investment property with my mother (my share = one-third) with a…
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SDLT on linked transactions shared ownership
Assuming property value in 570 000 and it's market value does not change, and it is a shared ownership, thus one is "stair-casing". All purchased in 2015. What amounts of SDLT are payable at which stages? Case1: Purchase 25%, purchase 55% (thus not over 80%), purchase 20%. Case2: Purchase 25%, purchase 75%. The values of…
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RTB, Freehold and service charges?
I'm currently going through the Right to buy process, we've had the mortgage offer and it's currently with the solicitors, however on the 125 letter from the Housing Association (previously we were with the council hence RTB and not RTA) it states that there may be A potential service charges in the future for grass/hedge…
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Searches
Didn't get any luck where I posted before hopefully someone here can answer me?? Just a quick question, is it correct that my solicitors cannot conduct any searches until they receive the contract details from the vendors solictors? We were told by our mortgage adviser to hold off on the searches until we'd had our…
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Financing a Property Development
Sorry for my lack of knowledge here soplease bear with me. My partner currently has a £76,000 mortgage on his house,we are looking to buy a property together and when we do this I will buy halfof his house by paying half of his original deposit and paying half of the current mortgage (I understand thatthis doesn’t equate…
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HSBC Application - overdraft
Hi, I'm about to go through the application process with HSBC and I have a question regarding the use of my overdraft. I've been using my overdraft pretty much every month on the last months. The overdraft was repaid in full every month and never went above agreed limit. It was more a bad admin thing as I have have saving…
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First Time Buyer..Unique Situation
Hi MSE's My other half and I have put a reserve on a new property in Derby. Currently, I work in London but I am looking to move to a job in Birmingham, before Christmas if I can. My partner is on an NHS zero-hours clerical bank contract (has been for 10 months) and is due to start a fixed term 1 year contract in the next…
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How long to get a redemption figure?
I have a remortgage application in process using Optima Everything started fine information, property title and mortgage offer complete but still waiting for redemption figure from existing lender. Optima initially obtained this within 5 days of case opening, but it then expired. It's now been over 10 days since they put a…
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Product transfer with existing lender questions
Can any one help with this one, as I am trying to plan ahead for next year when my mortgage fix is up. If I decide to do a product transfer with my existing mortgage provider (TSB). How do they work out the loan to value/value the property. how do they work out the loan to value at the end of the fix, is it on the original…
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Cash Mortgage Deposit
Hi, Myself and my partner are first time buyers. We've recently been granted a mortgage through a mortgage advisor and told to start our property search. However £30,000 of our deposit us currently in cash sitting in a safe at her mum's house, built up over many many years. (Why she never trusted a bank with it I don't…
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Will i get an mortgage if iv been in my planned overdraft within the year????
Hello! I am a first time buyer, and me and my fiance are looking to buy a house next year. This year i slipped into my planned overdraft and made the mistake of increasing it, and each month since march iv paid it off and gone back into it... DAFT i know, anyway, iv pretty much worked my way out of it now! BUT im scared…
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Chances of getting mortgage with payday loans 4 years ago?
Hi guys, My husband and I are FTB. We are seeking to purchase a property via the HTB Equity Loan Scheme and our LTV will be 75%. We have an AIP with Natwest and our mortgage application was submitted a few days ago. We both have both taken 2 x payday loans out in the past (we were both very poor students at the time!). My…
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Let Mortgage Confusion
I am trying to sort out a mortgage issue and struggling to get any sense out of my bank, Natwest. My goal is as follows: I own a flat with a residential mortgage that I let out (I have consent to let). Rather than sell this, I would rather remortgage it and use the capital to add to a deposit to buy a house with my wife. I…
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Extending mortgage with a homeowner loan
We would like to extend our mortgage to extend our home. We are currently with HSBC and instead of giving us a new mortgage to cover the full amount they are offering 2 accounts, the existing mortgage with a new rate and term, plus a homeowner loan account for the extra. I am a little wary of this arrangement and wonder…
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How long does a mortgage offer last
Hi, I have just received an offer of mortgage from Nat West. I am now unable to proceed with the purchase as my current home (which I was intending to convert to buy to let and rent out) has undervalued by 12.5 % - it seems a house is not worth as much if you want to rent it out than it is to live in. Anyway I can make up…
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Mortgage application with recent late payment
Hi my partner and I are FTB, and have received an mortgage in principle with Natwest and have made an offer on a house. We have a 5% deposit and the house is 3.6x income so we are within Natwest's income ratio. We have an appointment with Natwest next week so we checked our credit reports and I noticed that there is a late…
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Nationwide mortgage
Hi, I'm new on here (and to the world of mortgages) so please bare with me. Myself and my husband have seen a house we love and want to buy, we weren't intending on purchasing yet so our bank statements aren't as tidy as they could be but nothing more than going into an overdraft (planned) by £100 now and again. My husband…
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Has Equity Release been missold?
My stepfather and mother took out an equity release product 15 years ago at a fixed rate of 8.25%. He recently complained to the company who sold him the product claiming that he hadn't been made aware that the interest rate was compound rather than simple. I didn't know that he had made the call, otherwise I'd have asked…
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Self employed with satisfied defaults
Hi am seeking some advice regarding my chances of getting a mortgage. My situation is as follows. I am self employed and have been for 2.5 years and earn around 50k. My wife earns around 15k. We have between 50 and 60k deposit and are looking at houses around 250k. I have defaults on my file from 2010. 3x in total the…
