-
First Time Buyer and Help to Buy
Hi Me and my partner are about to make an offer for a 1 bedroom property of £100k We have 10k for the deposit, I believe with the Help to Buy it is 5%, but we have 10%. We also are looking at the 20% equity loan , then we would only need a mortgage for 65% which is 65k. Is that correct? Or is it strictly 5% deposit , 20%…
-
Personal data and finance details
I have spoken to different mortgage brokers and given my personal data and finance information to them during the first initial discussion of my mortgage application. Now I have decided to use one broker but feel uncomfortable that all of my sensitive personal data and finance information are kept in other brokers'…
-
At what stage does Mortgage deposit makes a difference.
When does a mortgage deposit makes a really big difference in terms of mortgage Rates. 20% or 25% ?
-
Mortgage deposit gift with outstanding student loan debt.
Hi all, Apologies if there's a thread on this already ( I couldn't find one!) I'm 41 and single (yes I know) I graduated with a BA degree in 2013 and have yet to pay back any of my student loan, as I was only working part time. I've just secured a permanent job and will soon start contributing to my student loan debt. My…
-
Practical advice for two renters wanting a mortgage
Hi, me and my partner are both wanting to purchase a property together. Through circumstances we've both ended up in rented accommodation in the last 5 years due to our previous relationship break ups. She's recently become self employed and has little income but i'm employed and have a £45k a year salary plus commission.…
-
Mortgage broker advice? Joint mortgage app. where one app. has a mortgage already?
My partner and I would like to use the help to buy equity loan scheme to buy a £600k property in London. After the 40% loan this means a mortgage of £330k would be needed. However, I already have a mortgage and own a property which my parents live in. They currently pay the mortgage but this is "unofficial" since it's not…
-
Who should i go to when arranging a mortgage
We are looking to move home soon and our house is currently up for sale. With regards to the new mortgage is it best to go to the bank I have a current account with or go to a mortgage broker? I keep getting different advice from family members so thought I would ask opinions here
-
Formal mortgage offer - adding childcare after
We had a formal mortgage offer. During the mortgage application we said we are quitting our childcare this month, so it wasn't used negativity against mortgage affordability. However we want to add it back on for a short while. We are buying a house, which is now with solicter. Could adding on childcare again now risk the…
-
Question about First Time Buyer credit checks
Hi, a relatives daughter is currently looking around for her first property to purchase. At present she has her savings in a savings account paying very little interest. She is considering opening a Halifax home buyer isa and a Santander 123 account (she could put the ful 20k in this for interest). However, we are…
-
Can / Should I switch my mortgage?
Hello! This is my first post here :o My husband and I have a mortgage with Halifax for our flat which was our first time buy. The balance of the mortgage is currently around £128000 and has an interest rate of 3.99% Our monthly repayments are £586 a month and the remaining full term is 32 years and 6 months. Our original…
-
Port or Switch? - Moving home
Hi there I regularly view this forum for advice which has been very helpful, now it seems I need some myself. Hope you can help. Some facts: - Home currently on market. - Bought for 152k selling at 250k with an outstanding mortgage of £129k - Looking to borrow more to move home, currently on a post office money mortgage 2…
-
Lots of equity but struggling on affordability
I got a great tracker deal 15 years ago. 8 years ago I went interest only while waiting for my personal circumstances to improve. There is 275k of equity in the house. I have 75k left to pay which must be paid off in 10 years time. Due to high childcare costs I can't afford to go back to repayments. I would also like to…
-
Overpayments
Hi Sorry if this is a daft question. But, when requesting to increase your monthly mortgage payment (monthly overpayment) do lenders do another credit check / affordability check or do they just increase as per your request?
-
Should I take less than full 40% HTB?
Hi All, Question: should I opt to take a higher mortgage in place of the 40% equity loan on Help to Buy London if I can afford to? Background (example): Total property price: £450k Deposit: £100k (for example) Govt equity loan: £180k (40%) Mortgage required: £170k But what if my income allows me to borrow more than £170k?…
-
Will high overdraft/credit card limit affect a mortgage application?
Hi, Me and my partner have a joint account where our wages are paid into and all bills and everything else goes out. We have an overdraft limit of £1870 on our joint account, but we never use it, not even sure why we have this amount of overdraft. My partners credit card has a limit of £10500 on it, but this is not used…
-
Help To Buy Equity Loan - Does a big deposit give a greater choice of Mortgages?
Hi, Been lurking in this forum reading posts about Help To Buy Equity Loans, but I can't find an example similar to my own. I want to buy a new build at £295,000, put down £100,000 deposit of my own and get a Help To Buy Equity Loan of £59,000. That means I need a mortgage of £136,000 which equates to a LTV of around 58%…
-
Mortgage help needed!
Me and my fiance are currently saving for our first home. We are signed up with the best ISA and saving accounts, but would really like some help on what our 'mortgage payments' will actually be. And whether we should go for a 5% or 10% deposit. The homes we are looking at will be around 220k-250k, so for the sake of…
-
help for my son
I am retired, I have a comfortable income (pensions) my mortgage is paid off, my son 21 is in the Army and will one day need to buy a house he is married, and sadly like most youngsters not the most forward looking financial planner, I'm looking for a way to help him with this potential problem/mortgage I'm looking to save…
-
Thankyou - now sorted
Thankyou, now sorted.
-
What addresses do I need to change?
Hi I'm looking to get my first mortgage in the next few months. I'm currently renting but have spent the last few years travelling and living at my parents house. Most of my accounts have my parents address as I couldn't be bothered changing them - current account, savings, credit cards, driving licence, phone bill. The…
