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Mortgage Help
Hello, Thanks for taking time to read this message. I am in a bit of a pickle at the moment. I have recently taken out a Halifax residential mortgage, in fact I am yet to make my second mortgage payment in a few days time. My personal circumstances have changed & I have had to move back to my old address which I own…
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Advice for a hopefully soon to be FTB
Hi all, I have posted on the forum previously (a few months ago) and have joined into a few challenges along the way however would like some advice if possible. At the beginning of August 2016 our rented property is no longer available and we will have to move out. We are looking at buying for then however I would just…
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Help, early repayment charge
Hi there, I wonder if anyone can provide some advice of what I can do. At the time my current mortgage was with Nationwide and we planned on buying a new property so applied for a new mortgage with Nationwide which included 'porting' my current mortgage across. My circumstances then changed and I took out a new mortgage…
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Santander Mortgage (Self Employed)
Anyone with experience of getting a mortgage with Santander?.....more specifically a Self-Employed Mortgage........ My Situation: 1. Single applicant 2. Credit Rating: Perfect 3. Debt: None (Never been in debt) 4. Deposit: £60,000 5. Will keep back £10,000 for all the fees (Solicitor etc) + Furniture. Though I hope to keep…
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Mortgage advice.
If I am completely honest, I have absolutely no idea about the process behind how banks lend mortgages. I do know that banks aren't stupid and won't just lend to anyone, which has got me thinking... I am looking to buy my first property this year. I made a mistake when I was younger and defaulted on one of my payments (I…
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Offer in principle question
When doing an offer in principle do the mortgage company do a credit check or do they give you an answer based in the information you provide? Just wondering as a late payment note is gijnv to be removed from my file but I think it's going to take a month or two, we are getting an offer in principle but it will be a few…
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Searches
Hello I am currently waiting for my mortgage offer and I've paid for the searches but solicitor says that they won't process them until the offer has come through? Is this right? Thanks
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New Santander Deal
Hi I am approaching the end of a 2 year fix with Santander. The deal is an interest only loan on a property where the repayment vehicle is through the sale of the actual property in a few years time. I was able to access this deal as I made a large capital input to the purchase and it had a very low LTV (35%). I understand…
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When Does an Application Start?
I'm in dispute with my new mortgage provider over when I applied for the mortgage. In short we got a DIP then switched current accounts to them to be eligible for our preferred mortgage. When the switch completed we applied for the mortgage. We should have been eligible for £250 cashback as a current account customer but…
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Unclear Key Facts doc re Early Repayment Charge
Hi all hoping for some advice...i'm a bit confused by some of the terminology on my key facts document. we have a 5 yr fixed mortgage with YBS which is due to end on 30th Sep 2016. If we leave before this date we are subject to paying 3% of the balance. however today looking through my key facts document i noticed the…
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house price reduced after the mortgage offer received
I'm just getting my self ahead. I've the mortgage offer for xxx amount. In the process of re-negotiating the price now. If the seller agree to reduce the price by say 5k, what should I do in terms of the mortgage offer? Do I need to get the lender to amend the mortgage offer. The borrowing amount and LTV will stay the…
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Advice needed!
Me and my partner are hoping to reserve a new build property next year. The house styles we like all range from 230k-260k We are hoping to have around 50-60k saved by this point. This will allow us a 15% deposit and the rest to cover fees etc. Partner earns 30k per year I earn 17.6k. I have debt that will be paid of in the…
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Are there any implications from this? Buying at less than value.
For example... House value is £XXX. Owner sells to family member for £XXX - £100K. 1. Can purchaser still get mortgage based on LTV ratio at actual value rather than their purchase price? 2. Will purchaser pay stamp duty at VALUE price or PURCHASE price? Any guidance would be appreciated. Thanks!
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Post Office help to buy mortgage shambles
New to the forum but felt the need to publish how Post Office are offering 'help to buy mortgage' that does not fit the criteria for any home on the help to buy scheme. As I am a first time buyer I am looking to use the help to buy scheme to purchase a property. After comparing mortgage lenders I found a good deal with…
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Help please secured loan on mortgage now due!!
hi, I Would really appreciate some help in a very difficult situation. A little bit of background first. we Have a NRAM mortgage with was originally on repayment which was took out on 2005, subsequently we borrowed and borrowed in the height of borrowing and our mortgage as of today is 167,000. one of the loans which we…
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Borrowing on mortgage to buy parents freehold
My parents are mortgage free on a property worth around £150k.Unfortunately they've let the council owned lease run below 46 years left. I have offered to buy the freehold by borrowing £7500 (the cost of the freehold as set by the council) against my current mortgage. Are there any pitfalls in me doing this ? My parents…
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New mortgage deal midyear but charged on balance at start of year
If anyone could advise, it would be appreciated. I have had a repayment mortgage with Natwest for many years. At the end of each fixed rate deal, I have taken up another. I have looked back and built up the energy to go into the interest charges and payments made to understand/check them for errors with the intent of…
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What size deposit
Hi all My wife and I are wanting to move house but can't decide when the best time would be to do so and what we should aim for deposit wise. Wife earns £38k and I earn £23k so looking at houses circa £200k. First and foremost does that sound affordable? Our current (first home) is probably currently worth approx £90k and…
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Arrears now cleared,how long to re mortgage?
We had two months arrears with Santander latest last year that have now been cleared. Due to this we could not fix again anywhere despite the efforts of various brokers and are now on their SVR of 4.74% Despite a LTV of Around 40%. Can I ask how long we should wait before employing the services of a broker to try for a…
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Mobile phone contract after mortgage offer
We recently had a mortgage offer and exchanged contracts last week(don't complete until June). Tomorrow my 24 month mobile phone contract expires and I'm thinking of taking a new contract with different provider for £10 less per month than what I currently now. Stupid question but will this have any impact on our mortgage…
