-
Question re: mortgage application
I own a residential property which I dont live in or rent out, I have a small £15000 mortgage on this but I want to borrow another £10000 to bring the total to £25000. The problem is I own this house in my name only & I also own the property I live in with £101,000 mortgage jointly with my partner. I applied to current…
-
proof to pay off interest only mortgage
Hi everyone a newbie here just received an innocent looking letter from my lender advising about the importance of having a means to pay off an interest only mortgage - very good advice. But the back is not so innocent it says ......that every so often we will ask you to provide up to date details of your repayment plan.…
-
Will Small Credit Card Debt Affect Re-mortgage
Hi all, My current mortgage expires end of December 2015 and I have a question about credit card debt. I took out a credit card for the first time earlier this year and have used it sparingly, paying it all off immediately. I took it to the US with me this year (just returned), and put about £1,000 on it. I am able to pay…
-
Redundancy & Mortgage App
I was made redundant from my previous employer back in March this year. I had a guaranteed bonus for the year and this was paid to me in the form of redundancy payment (in order to take advantage of the tax benefit). I started a new role in August and I'm now speaking with Halifax to arrange additional borrowing for house…
-
My broker experience
I thought I would post my experience of applying for a mortgage via a broker in case it helps anyone. We found a house on the Help to Buy equity loan scheme that we love. We've been saving hard, have got a 5% deposit and reserved the plot two weeks ago. My hubby has been running his own ltd company for 18 months and has…
-
Initial mortgage payment higher
Why is it that my first mortgage repayment is almost 150% of my regular payment? I can afford to pay it but the offer doesn't really explain anything about why it's more.
-
Thanks for the best advice of all...
Just wanted to say thanks to all the helpful brokers on here that gave me the best advice a novice could ask for.....get a broker! He's secured me a tricky offer tonight, one that frankly I'd never get alone. Next time I think I'm equipped to do this someone slap me....! Cheers everyone! :beer:
-
Porting mortgage with Natwest - Advisor questions + Answers?
Hey We currently have our house on the market and have had our offer accepted on another property. We are 6 months into a 2 year fixed Natwest deal. On the Natwest affordability phone call we 'should' easily be considered - Natwest could lend us up to £220k + our deposit.. Our house is up for sale at £210k and the house we…
-
split up scenario (sols) might need to be in legal
Hi I have heard of a situation of a friend and looking for a little advice. Question here is in a situation where there is a joint mortgage and affordability is met by the two apps incomes together but neither applicant on their own. Hence i assume the lender would not release either app from the mortgage. In this scenario…
-
First time buyer. Buy to let
Hi, My partner and I have been saving for a deposit. We are currently saving 1200 a month. We will be buying as investments as we live in company property and will do to retirement (hopefully!). I assume we will not be able to use help to buy etc as we won't be living in the property? We will have a 25% deposit and both…
-
Holiday Home Owner Seeking Advice on Buying Second Home
Hi All, I currently own a home on a residential mortgage which I let out as a furnished holiday let. I'm in the armed forces so am able to do this as I live in a rented house owned by the MOD but have the holiday house registered as my primary residence. My question is, if I buy another house (to live in) would I be able…
-
Advice on borrowing amount?
Hi, sorry I see alot of these how much can I borrow questions but just looking for a few answers to my questions. We are hoping to move house next year and I've become addicted to working out figures etc. (to an extent without knowing how much our house will sell for or knowing what we will buy) but the amount we can…
-
Some questions about getting off a joint mortgage (and rentals!)
I will try and make this brief, but I'd love some advice. My partner and I want to move in together in the new year. We will be renting. He is currently on a joint mortgage with his mother (for her house) because he agreed to help her out when he was much younger. He wants off this mortgage of course (as far as I am aware,…
-
Advise please - Want to free up cash for second mortgage
Hello, I need some advice. I bought a house in London with a 10% nationwide 2 year fixed term first time buyers mortgage at £245,000, the mortgage is now at £210,000. This fixed term is up in March 2016 and I am looking to move to another city. The house has recently been valued at around £400,000. Rather than simply sell…
-
Porting Mortgage Confussion
Hi all, I'm confused with how porting a mortgage works regarding money paid off from the existing loan. I'm just not sure where and how they include this sum in their calculation? Is this not even taken into consideration as even though it's technically ours, it is still within a 5 year fix? So.... Current House Cost -…
-
Additional Borrowing with Halifax
hi, I have held a mortgage with Halifax for 2 years and recently rolled it into another 2yr fixed term. I am now speaking with them to borrow an additional amount for home refurbishment. I have met in person with their in branch advisor and everything has been approved in principle. The advisor tells me that he is…
-
Lending criteria
I'm looking to remortgage soon. I'm thinking of doing it direct, possibly execution only (having used a broker for the original purchase) because my financial situation is generally simpler than it was at that time. I've even started a trial application with HSBC (but stopping before entering any personal details).…
-
First mortgage payment
So we are FTB, got our mortgage with Nationwide. The house has all gone through much quicker than expected. House price £237,000, we have put down £17000 with a mortgage of £220k... The solicitors have said this morning that they think we may complete just before 1st Dec. We were hoping that it would be after December, as…
-
Barclay's End of term , forcing me to pay off loan
I have had a mortgage with Barclay's for the last 10 years which is a lifetime tracker and in Jan 2016 the mortgage term ends. It is for apx 150k interest only. 100k of this was covered by an endowment, but the endowment maturity only realized 60k, These I have in savings waiting to pay off part of the balance I have never…
-
First time buyer - HSBC mortgage or go with broker
I'm a first time buyer and I've just put in an offer on a house. The broker recommended a mortgage for us with Virgin (quite fitting for my first time. Ahem...). It's fixed at 3.03% for 5 years, then goes to the SVR of 4.99% for two years, before a discount of 0.25% is added meaning it would be 4.54% (as it would affect…
