-
Mortgage with significant childcare costs
I am about to apply for a mortgage with my wife. The problem is we are very limited to which lender we can use due to childcare costs for 2 children of around £1.5k per month. These will end for one child in Sep 16. We have income of 22k and 37k and a 25-30% (can stretch to 30% if needed) deposit on 230k house. We pay…
-
Aviva Endowment Error - shortchanging customers compensatory interest
A couple of weeks ago my wife received a letter from Aviva in regard to an error they made 3 years ago on the calculation of the maturity value of her endowment. It appears they failed to correctly calculate the final year bonus. While a cheque for £800 may be welcome I am disappointed to report that Avivia are only…
-
Working a BTL and Residential in tandem - tax saving
Hi I currently have a residential mortgage shared with my wife and my wife has a BTL mortgage in just her name. To reduce her tax bill we are looking at loading up her mortgage as currently it is 30% LTV. We know the tax deductibles on mortgage interest are changing in 2017 but that means we will still see a big benefit…
-
Help! Mortgage For Parents
Hi, My Partner & I are looking to purchase a house for her parents. I understand that you can no longer take a Buy to Let mortgage if you're renting to family members so we'd have to take out a second mortgage. Our idea is for them to gift us the deposit for the property and they'd informally cover the cost of the mortgage…
-
help from a broker please
I am in a bit of a complicated situation and need some advice please. I live in what was the matrimonial home. The mortgage is solely in the name of my ex. Ownership should have been transferred to me (subject to a charge for his 40%) but this never happened. The original mortgage is interest only (ex cashed in and spent…
-
Mortgage Lending Sceanario
Hi Just a quick question - I can use calculators but as my GF has debt im not sure what impact that might have. My Salary = 27000 Hers = 14000 She has outstanding debt of £3.5k but with a Debt Management company and pays no interest ( not sure what this agreement is called ) I currently have a house and a flat in my name…
-
Mortgage and Extension Query
Good morning MSEers! I've got a query concerning an extension / conversion I'm doing on my house and my mortgage that you'll hopefully be able to advise on. We bought our house in 2012 and now we're converting and knocking through into the adjoining stone shed, which will give three additional rooms (3.8 x 5.4m living…
-
Tax Liabilities for addition to Title Deeds
Hi there, Just a quick question as a bit in the dark. We are currently applying to remortgage and I have previously not been listed on the Title Deeds of the property as this has traditionally been my partner's home. We are now remortgaging and adding myself to the deeds, however we are unclear on whether this has any…
-
Mortgage including the cost of renovation
I was wondering if anyone could help, please. We have been looking to buy a property. We have seen a family home that has enormous potential. It is valued at 260k but the seller has given an asking price of around 200k. The property requires a new kitchen, bathroom, carpets etc as it is very old. Is it possible to borrow a…
-
Advice appreciated re Halifax mortgage application
Hi I am new to this forum after being pointed here by a friend. I am hoping for some advice from anyone with experiences of mortgages as I haven't bought a house in a long time. My husband and I have reserved a new home which we are really excited about using the HTB scheme. The purchase price is £259,950, we have an 8%…
-
Fhtb
Has anyone else applied for a (Nationwide) mortgage using Forces Help To Buy (FHTB) for some or all of their deposit? If so, did you find yourself having to change the contribution of FHTB after your PIN was issued? We are having an ongoing battle of bureaucracy between Nationwide and MOD and keep receiving conflicting…
-
Affordability Concerns
I've sent a full mortgage application to lender and now having slight worries about affordability. We've got an AIP but when I look over my bank statements I'm worried they will look at the deposits into my savings accounts and have concerns. I've saved my deposit of £15k over the past 6 months, however this is all for…
-
Mortgage Advisor goes for mortgage where I don`t meet criteria.
Hi All Hope you all have a great Friday. Long story short, we are FTB with 5% down payment, offer accepted on house 102k . Using MA. We did have a AIP with NatWest, but sadly on full application we where rejected (2 weeks after AIP) All they sad was - your circumstances have changed in credit file. Is I checked on Experian…
-
Using tips as income in a mortgage application
Hi all, have learned a lot from this site, but one thing I can't find info on is to do with using tips as income towards a mortgage application. I have worked as a waitress for 3 years during uni and in Jan 15 I started work at a 'real job' while keeping the waitress job in the evening. I did this until Spetember when I…
-
Santander slow or fast??
Hi there, just wondering, as the title suggests, how slow or fast (hopefully) are Santander for getting to offer? Answers on a postcard....
-
Buying Second Property - Against first home?
We are buying a second home and the bank has said we have 2 options: 1.) We could get the second mortgage against our first home (which is still on mortgage). 2.) We could get the second mortgage independant to the first home. We can't think of which one would be better, and what consequences they'll have. Any info would…
-
New build brokers
Hi all. We are looking at a new home using HTB. It will be only on my husbands salary as I am giving up my job so we can re-locate. So...my husband fed all the info to the man and because I had no work or provable income he said we can just put it in husbands name. However we are married, we have a joint account...is this…
-
proof of address
I've recently (1 month ago) sold my house and moved back in with my parents. The house I was buying fell through, so I'm likely to be here for a couple of months more at least. My old mortgage will expire before I have chance to port it unfortunately, but this gives me a chance to get a better deal with another bank. My…
-
Solicitor requested meeting
Yet another question. FTB Had my mortgage offer Appointed solicitor 7th October and paid for searches on 11th. I contacted them Tuesday to check for any updates and they were still waiting for searches. I've now had a letter requesting I make an appointment so I can sign some paperwork. Anyone have an idea what paperwork…
-
Historic P60s
Lender has requested old P60s, on application we obviously applied with most recent years salary from 2014 - 2015 P60s and payslips. We've now sent old P60 with a lower salary from 2013 - 2014. Any reason why a lender would want to see this? in my eyes couldn't see what effect it would have on our ability to re-pay, it's a…
