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Equity release schemes - who benefits?
We haven't very long to go on our mortgage, and may be able to pay it off by using a pension plan. What I would like to know, is if anyone out there thinks that equity release schemes are any good to provide a pension, bearing in mind that you will be keeping your own property and having somewhere to live. We are a…
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Why can i not purchase my family home for less?
I am a bit confessed - my folks have an outstanding Mortgage of about £50k - they are struggling with all their expenses - that aside - They though they could sell the house to the children for say £60k - market value about £270k. The property is going to go to us children anyway and more likely the unpaid mortgage when…
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Unusual First TIme Buyer Situation
Hi, I'm posting in order to gain more information, ideas and further insight from others. I'm looking to get a mortgage, however the situation I'm in is an unusual one to your standard buy. I'm single, 30 years old this year, with 1 dependent child. I work full-time (40 Hours) with a permanent contract, currently earning…
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Pay it off early with ISA?
Not sure which Mortgage forum to put this. We have a high rate (5.8%) repayment fixed for 10 years ending 2019 (for£59,000 +- a few quid I think). Yes I know, my crystal ball was a cheap and as you can tell, I am a financial whiz...... ;) However, overpayment over the last few years has us in reach of November to pay off…
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Help! Given Bad advice on mortgage
I'd like to know if I have been mis sold a repayment mortgage. My wife and I applied to take out a joint repayment mortgage with a building society five years ago, my wife was refused on the grounds of having missed one monthly payment to a high street retailer a few years ago, therefore her credit check had returned…
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Mortgage for a Tier 2 visa holder
Hi, I am a non-EU national with a Tier 2 visa. Currently 2 years in UK, with 8 month left on visa. Are there any chances for me to get a mortgage now (and what possible LTV)? Or I should wait till I extend my visa? Thanks.
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Hsbc mortgage overpayment allowance
The annual overpayment allowance is calculated as a percentage of the amount drawn down for the first year of the mortgage. The allowance is recalculated annually for each year when an ERC applies on the anniversary of the date of drawdown (or following a switch to a new mortgage that has an ERC) on the outstanding balance…
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Home report to underwriter or someone else?
Hello, I've recently made a mortgage application and been advised by phone call that the application has been approved subject to the valuation being as I have said. Given I have provided the value from the Scottish home report and it is this same document that the lender has requested for their valuation I have no fears…
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Mortgage question
We have just put our house up for sale and I'm hoping it won't be long till we sell and and are able to buy a new one. I'm just wondering if anyone can advise me regarding if outstanding credit I currently have will affect our application. I currently have about £800 on one credit card, £1000 overdraft and £1200 on a 0%…
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Mortgage - how likely will you obtain the amount you assess for?
Hi all Originally posted on wrong board so sorry if you're reading a second time.. Have read through some threads and noticed some posts about being offered a lot less on a mortgage than you initially assess or have an AIP for. I know the calculators and AIP are all 'up to' but whats the average, say you assess to borrow…
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Good credit and bad credit for re-mortgaging.
Me and my husband bought our house two years ago and at the time we both had good credit. Although my husbands credit score has always been better than mine as he works full time and earns more. I've been part time for nearly 5 years as we have two kids, this means my income is lower and I struggle more. Since going from…
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HTB and porting mortgage issue
Hi, I have had my mortgage offer through from Santander and my solicitor has had the HTB authority to exchange rejected due to the fact that I'm porting my current mortgage deal over as part of the new mortgage offer. My mortgage broker is on holiday but his colleague has looked into this for us and is waiting for a call…
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Withdrawing equity and extending term
Hi Everyone, Last year i bought a flat for 144k with 15 percent deposit. So the amount i borrowed was around 122,400 pounds. I went for fixed 2 year which will expire in april 2017. My enquiry is when my fixed term expires and i decide to stick with the same bank and go for another fixed term product , am i allowed to…
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new product
Hi all, Can anyone confirm when staying with same mortgage provider, but switching product, do they work out LTV on purchase price or current value Thanks in advange Assesser
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Renting property to family member
Hi, I am renting a property to a dependent family member at below market value. In fact the rent just covers the mortgage and insurance. We are not doing it as a business, just helping them out. Should we be declaring it and will be liable for tax! Any advice greatly appreciated.
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Do Mortgage companies look at your spending habits?
Hi all, We are looking at selling up and moving elsewhere, We will have a 20 - 25% deposit with the equity of the sale of our current property. Would a mortgage company look into our spending habits as we do live to our means, are not really big savers and do have credit card debts which we pay off monthly and move to 0%…
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Contract Exchange/Completion - Job Change
Hi, I'm newbie to this forum and hopefully my question is addressed as i don't get the clarity from my mortgage broker.\ I'm first time buyer , found a property and it is valued and mortgage has been approved and i have mortgage offer in hand. In week or two , we are planning for exchange of contract and completion in 15…
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Remortgage
Hi Guys I want to have an extension put onto my house and wanted the equity available on the house to pay for it. I rang my mortgage for advice on this and they listed it as 'additional borrowing'. Now my house is worth around £75000 and I have just under £50k owing. Now they will only let me have 90% of the available…
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Awaiting Natwest Decision
Hi Folks Have found the forums really useful and hoping for just a little more info please! We got an agreement in principle from Natwest last Thursday. We are using a recommended broker and he done the application for us at home. I've now heard this may have involved a "hard" credit check by NatWest as opposed to a soft…
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Giften house...first time buyer?
I was gifted a house with my ex boyfriend by his father whilst we were still in a relationship. Does this mean I am no longer a first time buyer? :mad:
