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Mortgage Dilemma
Hi Guys, Looking for some advice on how best to spend my money! I'm in the process of house hunting and saving for a property. The problem is, I've found a place I like, but just haven't quite got the deposit together (would be 10%). The type of place I'm looking for is quite rare in the area and this one has a few…
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kensington mortgage
I'm currently in the process of applying for a mortgage with kensington through my broker. Kensington was my only option due to limited credit history. I have no bad history just the oldest account on my credit files is only 6 month old. I originally thought my broker submitted my application last thursday. He called me…
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Issue with Land Registry stopping remortgage (with new lender)
Hello, I'm a month away from my current mortgage deal (a 95% LTV) coming to an end. I've already got an offer (since December) for a 5 year fix with a 75% LTV (good old housing boom) agreed with a new lender. The solicitors for the new lender have come back and said there's an issue with my land registry search, and passed…
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Increase mortgage or savings?
I'm hoping someone can help me here, please. Myself and my husband bought a house nearly 2yrs ago and our fixed rate is nearly up. I will be looking at a new 3 or 5 yr fix. We also need to completely gut the kitchen and re-do it. Currently have no savings due to buying a car and re-doing the bathroom. What I need are the…
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Separating with Joint Interest Only Mortgage
Hi My wife and I are separating this week and we currently have a joint, interest only mortgage on the marital home. She is staying on in the property and can afford the mortgage payments. The mortgage is £376 per month with £95,000 still owed. There is little or no equity in the house. We have agreed everything…
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The chances of a joint mortgage
Hello, I am after some advice please. I have quite a poor credit rating and my husband has a great credit rating and we are wanting to apply for a mortgage, ideally a joint one. Would this be possible if I start working on my credit file now and try to improve it? Another thing I have considered is to have separate bank…
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Moving and Credit Score/Mortgage
I understand that mortgage decision are not based on credit score, fair enough. From a bank perspective, would it impact much having different addresses (within the same city) every year when applying for a mortgage assuming that electoral roll, etc are all up to date accordingly?
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Consolidating outstanding debit into a remortgage... Help please
Hi, I'd appreciate if someone could help with my below query/situation: Mortgage is due for renewal in the summer. I have around £30k in debts that I would like to consolidate into the mortgage. Aside from this I have a car loan of £16,000 however I still have the car which is worth around £22,000. House is worth around…
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How is debt deducted from borrowing power?
Hi, me again with more question. I understand the rules have changed since 2014 and the multiples don't apply anymore, so I'm interested to know how is debt such as personal loan deducted from the borrowing power? I believe they look at how much money you have left to live on after all commitments, do they take into…
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Mortgage gone to Valuation and Survey What can go wrong now?
Okay mortgage seems to have progressed to valuation and survey with Kent Reliance, what are the things that can go wrong now? its a remortgage to 260,000 which we think is a fair amount (I'm buying 55% share of my partners brother to get on mortgage my girlfriend owns 45% off so I wouldn't be overpaying , if anything…
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Mortgage advisors / mortgage brokers
Hi there, What is the difference between an independent mortgage adviser and an independent mortgage broker? Thank you
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Halifax documentation for mortgage approval
Hi guys i hope you can help mei have had and AIP from halifax but unsure as to what documentation they requiredo they need just 3 months pay slips or do they also need 3 months bank statementsi currently have a joint account with them for bills and things but also have a personal current account with barclays as does my…
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Bridging loan options
I have seen a property I am very interested in but need to sell my house in order to raise the capital. The problem is that bungalows are rare where I live so don't want to take the risk of loosing this one. Do I have any options while I am waiting for my house to sell? Bunglow is worth 175k and house is worth £125k (with…
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I want a btl but not sure I can get one..
Not sure if there is a straightforward answer, I earn about £45k and looking to purchase a flat near to where I live which is on the market for £105,000. I have about 20k saved so really wanted to know if (as a first time buy to letter) is, can buy this with a 20% deposit as opposed to 25%+...? thanks
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Woolwich overpayment vs part redemption
Hi all. Got a technical question regarding the difference between overpayments and part redemptions on my Woolwich mortgage. Woolwich tell me that overpayments that exceed 3x my normal monthly amount will be treated as part redemptions and my monthly repayment will be recalculated as a result. I just made a big enough…
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Contractor Mortgage Broker Recommendations
Long time reader, but first time posting. I'm a contractor and am looking for recommendations for a Mortgage Broker. I made contact with Contractor Financials last year to discuss options and found them pretty hopeless (recommending lenders who don't lend in Scotland for example). Have been trying to speak to someone there…
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Do we have to move to a commercial mortgage??
Sorry, bit of a long one here! We have a mortgage on a family home. We have a 3 bed house and are thinking of undertaking quite major changes to it. At the moment it is a standard layout on two floors. We thought if we convert the ground floor into a granny flat (it would be completely contained) then have kitchen, living…
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Second Home, Not sure if it makes sense?
I have a current Mortgage on a Home. Value approx 190-200k 103k outstanding. I Want a new house. Value = 330k I have saved 70k Deposit for this new home & an Annual income of 80k. Should... I sell the first house, or would it be a wasted opportunity? (is it better to keep it and convert it to a Buy to let with an average…
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4 yrs left.Should i switch from repayment to interest only
My dear savvy silent friends, We bought my house in 2004 for £121,000, in 2007 we built an extension for 35,000 (all in) doubling the size of the house ( We paid cash for the extension. Our house has just been valued at 220,000. We owe 34,000 on 4yrs and 3 months and we are up for mortgage renewal. We are normally very…
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How long to wait
Hi, I have recently settled a number of defaults and a CCJ so no longer have any outstanding debts. I have a Capital One and Luma Credit card and use both regularly, repaying in full each month. I am close to completing on the sale of my house in which I have quite a lot of equity. I'm wondering how long I should wait…
