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Raising a mortgage against a let property that I already own
Afternoon All, Quick query, I currently own a property that has no mortgage secured against it that I have had let out for most of the last five years as I lease a property that we live in elsewhere for work reasons. The owned flat is currently empty as I had attempted to sell the property after the last tenancy expired…
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Property valuation for remortgage
Hi all Related to my recent question. If I am remortgaging (picking a new deal) with my current mortgage supplier at the end of a fixed deal, will they take into account the latest property value? They note on their web site: "As an existing mortgage customer, we don't do a credit search, you don't normally need a property…
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Gambling transactions on bank statement
Hi all, I'm a FTB who has recently made an application via Bank of Ireland. They requested 3 months bank statements which wasn't a problem, as I tend to use one main current account for everything. However, I tend to have a small bet each weekend on the football like a lot of people, usually no more than £10-20 per…
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Credit check for remortgage?
Hello I am due to remortgage in August this year. My current provider has a good deal that I will be looking to sign up for in May, when I become eligible. I currently have some credit card debt that will be paid off by August. Question is, if I seek to remortgage in May, will I be credit checked, even though it's the same…
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Transferring NatWest mortgage question
Hi, 18 months ago my fianc!e and I purchased a new build property, our first home together. However after the short 18 months we have some reservations about our area where we moved to such as school logistics and children's social life. We are with NatWest and are now thinking about the possibilities of moving again. I…
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Flexible Mortgage with Virgin Money - Issues
I have a fixed rate 15 year mortgage with Virgin Money which has 5 years left to run. The mortgage has a borrow back facility allowing over payments and borrowing back any surplus if required. I have always had surplus in my account in excess of £20k even when I have borrowed back, but maintained the original monthly…
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Is there any disadvantage of longer mortgage term (40 years)?
Our 2 year fixed term with HSBC is coming to end soon so we're looking at some re-mortgage options. First Direct is offering the best rate: 2.19%, Max LTV 75%, 5 years fixed. We're thinking about going for 40 years in stead of doing another 30 year term. First Direct T&C says: unlimited overpayments without charge,…
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Optima Legal _ Too late to cancel?
Hi I am currently in the process of remortgaging my flat with NatWest and hope to take out some equity. The NatWest mortgage came with free legals and last week a company called Optimal Legal sent me a letter with paper work such as the Mortgage Deed and questionnaire to complete and return. I returned these last friday. I…
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Buy to Let
Hi all, Have struggled to sell our flat so have decided to stay and save for a deposit for a house and then convert our flat into a buy to let. Value Approx: 185k. Mortgage left: 103k plus 18k to pay back on a key workers loan. We would look to buy a house worth around 350k. Question is: could we get a 5% mortgage to buy a…
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Valuations
I had my mortgage issued by accord last week, during my application I took the free basic valuation which came back as the property being work 94k which is what I had agreed with the vendor. As the house is old I paid for a seperate homebuyers survey but this has come back as them valuing the property at 80k! Does this…
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Which lenders only use Equifax
Hi, I am shortly going to be remortgaging, I have checked all three credit agencies (statutory reports). My Equifax and Callcredit are all in order, but my Experian one has a few missed payments and an unsettled default relating to a mobile phone at a previous address. I genuinely know nothing about these, and as such will…
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Do you think we could get a mortgage?
Hi I have been reading some posts on this forum and just wanted some advice. I am still new this. We are FTB. Husband and I earn 50k joint. Have a 20k deposit. My credit history. I did go over credit card limit in January 2016. But have recently got rid of 3 credit cards. Only have one credit card with no balance owing. No…
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FTB: Inheritance or Gift money?
Hi, I aim to purchase a house next year. I am wondering if inheritance money (relative died and left me money) would have to be declared as a 'gift' deposit when applying for mortgage( i'm using the money for all my deposit) or will they disregard this money??). Would i need to evidence where this money came…
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Lent Mortgage Deposit. Lender asking for audit
Hi. My mum offered to lend (will pay it back) me £50k. To save money over the life of the mortgage I accepted and have now put this money in my mortgage lender bank account. Without giving it much thought I put on the mortgage application that the deposit was savings. My mortgage lender has now asked to see an audit trail…
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Credit card debt first time buyer
Hi, hoping to get some advice. Myself and my partner are looking to buy our first property this year after renting for over 8 yrs. My parents have given us a chunk of money as a deposit which has been fantastic. The only thing putting me off finding a home and applying is the fact I have almost £6000 on my credit cards…
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can i still claim
can i still claim for mis-sold endowement even though i cashed it in because it was'nt performing well
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Deciphering a trust deed
I know the MSE forums are not a substitute for actual legal advice, but as a preliminary, I would to try and make sense of a deed of trust I am currently on. The story basically goes: Mum and dad buy a house in a joint mortgage As their only child, I also sign their trust deed document As I was 18 at the time, I really had…
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Buying out sisters boyfriend.
My sister and her boyfriend have split up but she has stayed in their two bed flat. She has rented out the spare room to cover the mortgage which is a fixed term with two more years on it - so at the moment it makes no sense to remortgage and take his name off the property or sell because of the penalties. Which he has…
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Mortgage for student offspring
I want my daughter who is a student to buy a flat which she can then live in and rent rooms to pay the mortgage. It would be beneficial for her to get the mortgage in her name as a non tax payer. Is this feasible - she has no earnings but I can afford the monthly payments and am happy to be her guarantor.
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Transfer of Equity
Hi guys just wondering if anyone has any recent experience of TOE with Santander in particular? Im not sure what the process is - it is pretty much a full application involving affordability interviews etc? I have been told its simpler than a usual application direct with a lender but I dont know what the actual difference…
