-
Proof of income
I used to be an underwriter for Halifax about 10 years ago. When people had a decent credit score/low LTV, we wouldn't ask for proof of income, or bank statements. I know the mortgage world has changed a lot since then, as lenders have to show that they're lending responsibly since the crash in 2008. Do they now check…
-
Making the move to London
Hi All I’m looking at moving to London. I’m a mid-level .NET programmer working in Brighton at the moment and am in the very fortunate position to have been left the property I have been renting by a relative who sadly passed away recently. It has always been my dream to live in London and I was going to start renting…
-
Sell or rent out?
Hi all, My first post a keen money saver so thought I'd get the view of those with more experience than myself. I am 30 and have a mortgage with my wife on a property worth 130k, I have been overpaying for 10years and have 35k left on mortgage at 1.99% and now looking for a larger home due to expanding family! Wondering…
-
Updates on mortgage application
So Financial adviser can see that Mortgage has instructed for surveyor on the website but I wondered if we can see progress or only the FA as she has submitted application online?
-
First time buyer - confusion over defaults, DIP etc.
Hi I hope someone can help me. My partner and I recently went for a DIP with Barclays which came back as a provisional acceptance. The adviser said to go ahead with paying a holding deposit for a new build and the appointment was booked to do the full mortgage app. The adviser was sick on the day and a colleague saw us…
-
First Time buyers Help
Hi, Last year i applied for an Aip which was approved with Santander.that was with Debt of £6000.I never seen a house i liked so the Aip ran out. Im just about to pay off my debt( well actually doing it tonight) I have seen a house thats ideal at a knocked down price of £80,000. I contacted the broker i had used previously…
-
Help please - decision in principle
Hi everyone, I'm in desperate need of some advice! My other half and I are looking to apply for a decision in principle to allow us to book some house viewings. However, I've recently (very recently) changed jobs, and I don't yet have a payslip from them, and my last employer didn't provide them. My question is this, when…
-
Comparing mortgages - which figures matter?
Our broker's proposed a few options, of which one is a clear winner. However, doing some additional research on MSE, there are other options (including available via a broker) which have slightly higher initial deals, but work out cheaper overall (by about £15K) due to having a lower SVR when this ends. Assuming that it is…
-
Mortgage options when you are too old for a conventional mortgage?
So I'm finally in a position to be able to pay a regular mortgage monthly, but it's likely to be a few years before I can save a deposit. By that point I won't quite be able to complete a 25 year term before I retire. Does the following type of mortgage exist? Where you pay regular monthly payments until you reach…
-
Releasing equity from property to buy another
Hello. I am looking for some advice. Last year I renovated a property which has been on the market for a few months now, it has received some interest but nothing serious yet. I am looking to buy another property as soon as this sells as at the moment I am living with parents. My plan was always to sell the one which is…
-
Homestead Finance
I had a certain situation which I need help with. Firstly I wanted to know if you could help and secondly what your charges would be if you could. Back in 1989 ish my father took out a re-mortgage. He was never fully advised and, long story short, we feel he was ripped off. The loan he took was about £15k. Now, after…
-
Mortgage approved...should we wait before applying for credit?
I probably already know the answer to this question but...our mortgage has recently been approved and we are due to complete all being well in less than 4 weeks. The house we are buying as no flooring whatsoever so we were hoping to go to carpetright and get some flooring on 0% finance (we have no money in the budget for…
-
Would you apply for a sole or joint mortgage?
Hi everyone I am looking to buy my first house. I have a deposit of around £45k (although £20k of this is a gift from family) and I am on a salary of £30k a year. I am looking at houses in the region of £150-160k. I have good credit reports (years of paying credit cards off in full each month, no missed payments on cards…
-
Do I need a solicitor for a fee free mortgage
Hi all, I am currently remortgaging for the first time for a better rate. The mortgage offer is in the post?:j. I have had a message stating that I need to contact my solicitor to arrange the mortgage transfer. This mortgage has free fees, legal etc, I thought they may arrange everything. How does this work, do I pay a…
-
Remaining Loan & Mortgage Q
Just reading another thread and it got me thinking. I currently have a loan balance of £4500 that I pay £173 p/m. I'm trying to save to get it down and get it paid off as I need a re-mortgage in September as a sole applicant, either in the current house or moving. I've managed to save £1k towards it but I wont get it paid…
-
Mortgages for "silver splitters"
I am a so called "silver splitter", IE I am retired, in receipt of a pension and have recently divorced but now need to get a mortgage so that I can buy my own property. Is there an MSE mortgage guide specifically for those in my position ? I know that some lenders will offer mortgages up to the age of 75 but how do I go…
-
When do brokers get paid by lenders?
I am curious, if a mortgage broker is getting paid a commission by a lender, when do they usually receive this commission? Is it once an offer is issued? Or on exchange of contracts? Or even drawdown of funds?
-
Help to buy ISA closing account
Hi We are just about to sign our contracts but our solicitor has said that we must close our help to buy buy ISA before we sign, she hasn't come across these ISA's before so she isn't sure how they work? Has anyone else gone through this process yet and have you got any tips? All help is very much appreciated. Thank you in…
-
Underwriters!
Hi! I am a first time buyer, and we put our mortgage application in yesterday through our mortgage broker. Our mortgage broker seems very positive that it will be a good outcome and our application should be approved. But I am so nervous and on edge! On a couple of my bank statements that they have asked for, a few days…
-
Bad credit mortgage Deposit
Hi, just some advice on how much deposit is needed for a mortgage with bad credit. Not even sure if we will be able to get a mortgage but just looking for some advise on how much we are likely to have to save. Anyone on here successfully had a mortgage approved with bad credit? Thanks :)
