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Porting a mortgage - some questions!
Hello, We are thinking about moving and will need to borrow more money to buy our dream home. We have been wondering about what exactly happens when you port your existing mortgage to a new property. Do you continue paying the original mortgage monthly value, and in addition have a new amount based on the sum that we are…
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joint application sole owner mortgage. I need help
Hello all, I bought my house in 2003 as a single person and always had a good job 30-40k. I met my now husband and he moved in in 2011. In 2014 I remortgaged with the intention of it being a joint application but then learnt that as my husband isnt on the deeds we couldn't so I did a single application which wasn't a…
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Instalment contracts
My wife and I have been renting one of her father-in-law's properties. We have been discussing purchasing the property from them but due to our poor credit we'd be unable to get a mortgage through a provider. We've discussed an going into an instalment contract to continue paying them monthly only this time against the…
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Remortgaging After help to buy mortgage guarantee
Hi this is my first post! I'm looking for advice, I'm currently coming upto the end of my help to buy mortgage (mortgage guarantee NOT equity loan) with NatWest (2 year fix). I've been looking at remortgage deals and have found cheaper rates elsewhere so I've decided to apply for one at The Coventry I told them numerous…
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Endowment policies
I am trying to find out if there is anything that replaced endowment life insurance policies. I have a joint life policy for 100k but it is term insurance so I am throwing this money down a black hole every month. I know that endowments were ditched due to bad returns but some return would be better than none. Any ideas…
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Reclaim mis-sold mortgage.
Hi, I have been contacted by a company saying they could reclaim all interest paid so far on my interest only mortgage if I was Mis-sold it. Reasons for mis selling would be, not checking budget and proof of earnings. Has anyone had any dealings with such companies? Thanks M.
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Re-mortgages
Hi all, This is a fairly complicated situation, I will try to be as succinct as possible. My parents have an interest only mortgage on their home of £135,000 which is made up of the deposits on mine and my sisters homes. My sister and I pay the interest each month. There home is worth £250,000 and their income is £30,000…
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Help to Buy Mortgage Guarentee - Tier 2 Visa
I am currently trying to buy my first property and have an AIP from couple of banks (with 10% deposit). I have found a property I am interested in but have only 5% deposit. I am currently on my Tier 2 visa (valid for 22 months) and am eligible for ILR early next year. I wanted to know if I can avail the Help to Buy…
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2 year or 5 year fixed?
In today's financial climate, for a first time buyer is it better to go for a 2 year fixed or 5 year fixed mortgage? 2 year fixed at 1.69% interest rate - £1675.14 pm 5 year fixed at 2.59% interest rate - £1901 pm Deposit 20% Loan amount 80% Loan term 32 years
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Underwriting standards for buy-to let mortgage contracts March 2016
Released today by the PRA. For those who would like a more detailed insight. http://www.bankofengland.co.uk/pra/Documents/publications/cp/2016/cp1116.pdf
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ank of England clamps down on buy-to-let market with strict new rules
Significant tightening of the rules. http://www.cityam.com/237681/bank-of-england-clamps-down-on-buy-to-let-market-with-strict-new-rules-for-mortgage-underwriters
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Affordability Unease
Hi everyone. Have been reading with great interest, but affordability paranoia got the best of me today so I thought I'd ask a question that has been addressed but only partially from what I have read here. Partner and I are FTB, trying to get on the government guarantee scheme. We are in our early 30s and collectively…
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HSBC and borrowing more
Hi, We have a joint mortgage with HSBC and the balance is £27k. Looking to re-mortgage/home owner loan to do home improvements of approximately £30k (making the new mortgage £57k). Our house is worth around £200k and we'd want to borrow over around 5-7 years max. The current mortgage is due to finish in about 3 years. We…
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FTB Mortgage on Timber framed property
Hi All, Ive found myself in the tedious situation of living in a rented flat that the owner wants to sell, I am looking at buying it but am having difficulties getting a mortgage on the property. First off, I have no credit history as Ive always steered clear of debt, this is also compounded by not being on the electrol…
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Second application after a successful first?
Hi, I have my agreement in principal from The Coventry but the rate we initially applied for isn't available, there's a better one now at HSBC, will a second application still be damaging even through the initial one was successful? Any advice on how to navigate this will be much appreciated, thanks.
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Re mortgaging - how is the balance calculated?
Hello FTB here just working out the cost of 2/3/5yr fixed deals. Not got as far as an API yet but managed to get an ace broker on side to help push things through once we find our house. My question is, what's the process in remortgaging after a fixed period to get a better deal? How is the balance calculated? For example,…
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Seperation and mortgage advice
I moved out of the marital home in January 2015. I have been waiting to be brought out of the property. I finally persuaded him to attend mediation in which he has agreed to buy me out of the property. I have been paying half the mortgage for 15 months only to find out that there are arrears on the mortgage and I had not…
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Securitisation & self execution
Morning I would just like to clarify 2 points on our 5yr fixed with hsbc: They require a signature agreeing to securitisation. Any negatives with this? I'm self executing our mortgage so not taking their advice on suitability and not benefitting from certain fsca protection as a result. It is a basic mortgage but any…
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Conveyancing solicitor recommendation?
I am looking for a conveyancing that is good priced, reliable and efficient. Can anyone recommend?
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Advice on Kent Reliance DiP
Hi, I am having a bit of a sleepless night and was wondering if I could get some advice on thr following from brokers who may have dealt with a similar situation to mine. I am applying for a shared ownership mortgage DiP tomorrow on the advice of my mortgage broker (who previously helped my sister get an amazing rate) with…
