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Mortgage problem - Compensation
Hi everyone, I recently applied and was accepted for a mortgage with a well known lender. There was a slight reduction in the asking price for the property after the mortgage was agreed. I was initially told by the lender this would be no problem, but was then told I would have to go through another full application. The…
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Factors considered in a mortgage application
I will soon be applying for a mortgage. It's sooner than ideal, but the home I'm renting is coming up for sale and the landlord can't delay, so my circumstances now are a little different as to how they will be in a fee months time, e.g. 1. Now, I'm working just less than full time (34 hours per week) due to studying, but…
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Auction Mortgage
I am a first time buyer hoping to buy my first home through an auction. I have difficulty understanding how I can pay the 90% within 28 days through a mortgage. I have also read websites which recommend getting a mortgage before making an offer but after researching how to get the mortgage I don't think that it's possible.…
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Help to Buy Scotland - Mortgage
Looking at doing a Help to buy in Scotland on a new build at 230K I have 25K deposit and can get max 34K HTB so will need a 171K mortgage. Going by the online Calcs its works out but a question I have is does the Deposit and HTB add together for the LTV purpose to get a better rate? or do they work it based on the 85% of…
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Wanting to sell house but very confused with mortgage!
Can someone please explain how all this mortgage business works!! My partner has £88000 mortgage but we need a bigger house, our house is now worth £175000. The mortgage advisor is saying they can only lend my partner £165000 now as he has 3 dependants and they can't help us. I am confused as to why they can't help if we…
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Mortgage underwriting help
Hello everyone I'm currently applying to port my mortgage with Santander it has gone to the underwriters for affordability checks our monthly income is £2415 and out goings including mortgage is £1785 leaving £630 a month spare but they are only counting some of the income at 50% so by their calculations we only have £1900…
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Potential new job during home but process
This is just a hyperthetical question but a number of opportunities have risen in the past week which I am tempted to applying as its a higher salary and a company car would mean I would not need to renew my car lease in a couple of months the only thing that is putting me off is that I'm in the middle of a home buy. I…
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Shared Ownership: To staircase to 100% or not?
Hi All, Looking for advice about shared ownership staircasing. We bought our 50% share in our house in August 2013 for £64K and currently have a mortgage of £48K (we had 10K deposit and have been overpaying by £100 every month). I am thinking about buying the other 50% to take us up to full ownership of the house plus…
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Mortgage DIP extremely low, help understanding why
Got a DIP from Nationwide today and the decision has come back 50k less than we need and less than the online calculator stated. Maybe I've been filling in the online calculator incorrectly?
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How long in employment before applying for a mortgage?
So I've read various different things on how long you need to have been employed before applying for a mortgage. I've been in my job over 5 years, other half has just gained employment and will be starting at the end of the month. We have a good deposit saved, 50/50 between us and want to apply for a joint mortgage. Thanks…
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Buying half of a house of my parent's
My parents recently bought a second house by taking out a mortgage on the house that we currently live in. They now want me to buy half of this second house of them and then buy the other half later in life when I am in a position to do so. Would it be possible for me to take out a mortgage on half of this house? Any help…
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Getting a buy to let mortgage with a Debt management Plan just been paid off
I am just in process of negotiating consent order with ex in our divorce. We are currently renting out our matrimonial home. He has said he is happy to house. I really want to keep hold of the house as an investment. Im on a Debt management plan at present, which should hopefully be paid off when I look at remortgaging. I…
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Nationwide's "regular travel costs"
I'm currently doing an affordability calculation on Nationwide's website to borrow more (we're existing customers) for home improvements. The calculator is asking for regular travel costs. Upon searching this forum there seems to be some conflicting answers and I wondered if anyone can shed any light on this? DH and I…
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Mortgage deception?
Sorry I am reviewing my post as it was a bit jumbled. I've arranged an appointment with a financial adviser. My husband has been in the new job for over a year now but it's hard to recover quickly enough to keep up high repayments on a much reduced salary. He's only 52! Thanks for any comments.
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Husband won't add me to deeds
We have been married 16 years and I moved into his house. I sold my own property and just cleared the mortgage and some credit card bills with the proceeds. Husband has a small mortgage. He has never added me to the deeds, he owns the house and he owns the cars. We don't even have a joint bank account. He also owns a plot…
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Help to buy 5% rejected with one bank
Hello, We applied for a mortgage a few months ago and got accepted by lloyds and they gave us a mortgage promise. We then made an offer on a house and when we went back lloyds said they wanted 10% deposit even though we did say we only had 5% and they told us we had been accepted on the help to buy scheme. We are going to…
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Re-mortgage now and pay ERC or, wait it out?
Hello, I'm after a bit of advice regarding my mortgage. I am nearly four years into a 5 year fix with YBS. The interest rate is 3.5%. I've overpaid my mortgage as much as possible, and will have about £78000 outstanding on the next mortgage anniversary date (next Monday) with 21 years remaining. I originally borrowed…
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Pay day loans & mortgages
I have been told that it is impossible to get a mortgage if you have used payday loans in the past 12 months. Is this true? I used them 9 months ago, credit has been better since and I'm improving my credit file. I have 50% deposit, is it possible for me to get a mortgage ? Or do I have to wait another 3/4 months and apply…
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Remortgage through Halifax
Hello, We are looking to apply to Halifax next week. We are changing lenders due to the better deals on offer with Halifax and was just wondering how the survey works with them. I'm aware that Halifax normally book valuation upon full application, is that right? Will they want access to our property or are they likely to…
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Converting Residential to BTL - another provider?
Hi all, Is there now a rule to stop you converting Residential Mortgage to Buy to Let with the same bank? Short Story: Bought flat, residential mortgage, lived there for years, couldn't sell so got CTL from Halifax & bought house with missus. 1 year later Halifax sent letter saying CTL needs to a have date when you will…
