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Is this strange?? Mortgage application query.
Hi Newbie here. OK as would be expected from the regulars and brokers some background. New build property worth 365000 using HTB 20% Deposit 18k equity loan 73k Married joint income of 75k I have 3 historical defaults 2 drop off in may the other 2017. OH has 2 from 2010 also drop off this year and PDL from same year 2010.…
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Mortgage Query
Hi I'm about to be added to the deeds of my parents' house and moving in with them. As part of this process I will be raising a mortgage against the value of the house (no more than 80%LTV) to pay for repairs, improvements and some debt consolidation. The thing is I can't work out what type of mortgage I will be looking at…
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Mortgage application - Experian shows PDL, Equifax don't - Can this help?
I'll first explain my situation regarding why I took out 2 payday loans. The first was during a period of credit repairing, which I now know to be a bad decision, in fact, I had read it helped somewhere on MSE, and that it improved your 'rating'. Literally under £50, paid off days later. The 2nd, was a bridge for a DD I…
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Remortgage house bought under market value
Hello Can anyone provide advice please. I bought my house in February 2013 for 80000 quite a bit under market value as it needed a lot of cosmetic work and was a parental property the children wanted to sell to get their inheritance. Good for me at the time and the house has gone up in value since When I came to…
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Mortgage with cash from parents.
Hi me and wife have joint income of 62k we We want a property which is 375k we can easily afford 52k(15% deposit) Now in the rule of multiples will mean we have no chance to get 318k mortgage, however my parents pay for little ones childcare, they pay for our food, and we even eat at their house. So we actually could…
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Should we pay off debt before applying to remortgag?
Our mortgage is fixed and the rate comes to an end in May. We will be looking to arrange a new fixed rate term in a couple of months, loan to house value is approx 40%. We have credit card debts of around £12000 at 0% interest and total savings of approx £15000.00. No other loans or finance. Is it wise to pay off the…
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Best Mortgage for Flexible Income (commission based) Professionals
Hi All, I am a first-time buyer (30 years old) looking to purchase my first house (£250k-£300k). I work as a salesman, earning commission regularly, though not in a linear fashion. Some months I earn significantly more than others and could afford to put significantly more into my mortgage than other months. I understand…
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Couple of early repayment questions
Hello, New to the board with a couple of questions I'm struggling with, hopefully someone will be able to assist. I currently have a £273,000 mortgage with Halifax with an interest rate of 1.69% fixed over two years. My current repayments are £964.48 per month of which approx £380 per month is interest. I have some capital…
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moviong house and mortgage question
Hi We have just accepted an offer on our house and have been to see another house that we like. My question is, having never moved before do we need to wait for confirmation that we can get a new mortgage for the next house before putting in an offer? We have completed the application form and have the telephone interview…
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Add partner to deeds and mortgage
My daughter owns a house now worth around £300k, current mortgage remaining is around £130k. The house is in Scotland. Mortgage is a lifetime tracker with HSBC, which she really wants to keep as it is a very good rate. She will be getting married later this year and is considering whether to add her partner to the deeds…
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How do lenders know if you're using a loan to boost your deposit?
I don't understand this. If I go with a mortgage broker and they find me a lender, how do they know where my deposit money has come from? I took out a loan for a car but then changed my mind, if I use that loan money to boost my deposit in a year or so (loan would be no more than 30% of deposit), how would they know those…
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Failing on Credit score !!
So applying for a help-to-buy mortgage and me and my partner cannot get past the credit score. Checked with Experian and my credit score is 890 and my partners 836. My partner has 2 defaults which cannot even be seen on the credit file from 2011. (They are not settled) I have 3 late payments back in 2013. Since then I have…
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Mortgages for Tier 2 vs. ILR & residential vs. buy-to-let conversion
Hi everyone, I am new to the forum and this is my first post. I have a bunch of questions around mortgages so thought I'd describe my situation and see what you think. I am relatively new to the UK property and mortgage scene and only starting my research (1) I am currently on Tier 2 General visa and have 10 months left…
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Mortgage for a sort of buy-to-let???
Hi, We are moving to the US for 2-3 years. It is not financially viable to let our house out as the rental yield will not meet the requirements of our mortgage company, nor will they port the mortgage to an investment flat. I've had what I think is the great idea of buying a flat that my sister (who currently rents a room)…
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LifeTime Mortgage
If your own your home outright and paid off the mortgage can you get a lifetime mortgage on it? Can you release equity from a home already paid off?
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Mortgage options with default?
I'm 30 work full time on minimum wage (13,000) and my partner 24 on roughly (19,000) are looking to get a mortgage on a £115,000 house with a 10% deposit (11,500) so would need to borrow £103,500. Her credit score is pretty much perfect but I have a default from July 2010 for £1,130 which is bringing my credit score down.…
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Morgage with a CCJ help !
Hi all in desperate need of some advice as everything I find online is so contradicting. My husband has a ccj which is 5 years old and we want to apply for our 1st morgage is this possible after 6 years with a ccj ? Many things I've read say yes after 6 years but others say we will never get a morgage so any help would be…
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Early repayment charge - do they subtract 10% first?
For someone I'm sure this is an easy question. I have a 139k barclays with a 3% Early repayment charge. We're paying it off in full and taking out a new property (Barclays won't lend us enough to port). Will barclays subtract any of the remaining 10% annual overpayment allowance and charge 3% on the leftover or charge us…
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Mortgage for family shared ownership
My wife and sister-in-law (SIS) own equal shares in the lease of their late father's flat. My daughter, husband and child live in the flat. SIS wants to sell her half share and daughter wants to buy. Daughter's bank has declined a mortgage. Are there mortgage products available suited to this scenario?
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Help to buy isa
Official MSE Insert: We've a fully researched Help to buy ISA guide you may find helpful. Back to the original post... Hi, I am new here and need a answer to a question. I am thinking of opening a help to buy isa, however I have owned a property in the past but I had to declare my self bankrupt which has now ended and has…
