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new mortgage lending rules
Hello, Can anyone tell me how strict the banks are being with the new lending rules regarding gambling. I spread bet every now and again but with reasonably large sums of money (thousands). The last time i applied for a mortgage it wasnt an issue as it was before the tighter lending rules. I hope to apply for a mortgage…
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Income
As well as my wage will I be able to count tax credits, child tax credits and child benefit as my income when applying for a mortgage? Thanks
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First time buyer questions urgent help needed.
Good morning all and happy easter to you all. Ok so yesterday me and my partner have fell in love with a property and have put an offer in. We have until monday morning 11am to give them our best offer as there is another party putting an offer in aswell. The guide price is 110-120k, and we are considering offering the…
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extending term of existing morgage
Hi All, as a first time forumite please bear with any mistakes with this post. We have an interest only mortgage with just under 8.5 years left. Having sold our under performing endowments several years ago, we accept we will probably have to ultimately sell our family home to pay off this mortgage. We have a good amount…
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provider instructing survey, does this mean mortgage decision is a yes?
Hello I've never had a mortgage before so not sure how it works. Our adviser submitted our application this weekend and it has apparently passed. We had a DIP agreed last week and the yes is apparently on the full app. Survey is being instructed and needs paying but underwriters are not looking at it til next week. Is it…
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Maximising LTV to minimise interest - is this really optimal?
Hi all, In the process of applying for first mortgage. Everyone i've spoken to + all guides I've seen talk about maximising your deposit to hit the 'sweet spot' for LTV at around 60% before you start getting all the best deals (e.g. First Direct @ 1.15%). However, is this really the best thing? For example, let's say if…
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Mortgage benefit in kind
Hi all, Hoping someone can help me gain an understanding of mortgage benefit in kind. I have tried to read other' posts here but I'm still not getting it. I'm looking into getting a staff mortgage with Lloyds Banking Group - have been offered a maximum mortgage of £103,000 with them at a 0.5% interest rate. Example: I…
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Fixed deal end date confusion
Hi All So we have a 2 year fixed deal which we were accepted for back in October 2014 but didn't actually start paying until March 2015 due to a new build property taking longer than expected (as usual). I've just had a statement through which tells me the deal will end in October 2016 but technically the 2 years of…
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Buying a new family home and renting out existing flat Scotland
Hello, I'm new to the forum but just looking for a bit of advice and guidance if possible? My current situation is that my wife and I own our current flat outright and have put down an early bird deposit on a new house which won't be finished until March or April 2017. We plan to rent out our current flat, possibly on a…
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Funding a mortgage
I am about to lend a family member an amount of money in order to purchase a 50% share of a property with another family member. I have looked at on-line mortgage agreements that are generic and can be altered to suit and bought on-line. Can anybody tell me if this type of deed would be sufficient to safeguard my loan and…
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Release of funds for completion
We are due to complete on our purchase on 29/3. Our mortgage is with Barclays/Woolwich. My idiot conveyancer told me a few days ago they'd had confirmation of release of funds so I assumed this was fine. I phoned Barclays today just to check about the direct debit payments and to check funds are set to be released. They…
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Switch mortgage rate - Barclays Existing Customer
Hello Everyone, Thanks in advance for your replies :) So, my husband and I have a 2 year fixed rate mortgage with Barclays which comes to an end early next year. We'll then be on a standard variable rate pushing our payments up by at least £300 more a month. Since taking out the mortgage I gave up my job in order to stay…
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buy to let via personal loan or secured BTL?
Hi, hoping someone with more knowledge than myself can give me their opinion for the best way to structure financing a buy to let purchase... Looking to buy a BTL property around £40k (perks of buying in Scotland) via a SPV and trying to find the most cost effective way to do it. Do i go via a personal loan or am i better…
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Getting a mortgage on a mortgage-free house
My wife & I might be in a position to buy a house mortgage-free, with a plan to extending / renovating in a few years, paid for by a mortgage. At a rough guess, the future mortgage might be for around 40% the value of the property. This is obviously not the most common scenario for getting a mortgage. Questions I'm trying…
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Letter of explanation
Hi all, I've read in a few threads about people being asked to provide a letter of explanation when going through the mortgage application process to explain any past credit problems. I have payday loans from 2013 on my credit file and 2 defaults from 2014 (small amounts) which were on credit that I got in 2013. All of…
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mortgage top up
hi would like to ask for advice i got 4 years fixed mortgage whit nationwide for 175 000, my house worth about 290 000. its 2 years i have it but I'm looking to borrow extra about 25 000 can i do it till is still on fixed ? , i need those money to pay my deb i know is not smart to do that but i had gambling problems and…
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NRAM new All Monies Charge
Hi Everyone I have 3 buy-to-let, interest only, mortgages with NRAM which I took out between 2004-2006 with Northern Rock as was. NRAM have been encouraging customers to leave and take mortgages with other lenders for some time now. As two of my properties have very short leases 42 and 40.5 years I thought now would be an…
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New DIP required - stick with same lender?
Evening all, We had a DIP and mortgage approved back in Feb for a particular property. We suspect the sale is about to collapse. Our broker applied for our DIP at the specific amount we needed to borrow, so we aren't sure what the maximum (not that we necessarily will go there) the building society will lend us is. We also…
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Halifax FTB
Hi all, Just looking for a bit of advice and reassurance really. My husband and I applied for a full Mortgage with the Halifax on Wednesday and were accepted for a 95% mortgage. We have paid the £315 valuation fee and it has been instructed. I know people say it's not concrete till the keys are in our hands but what is the…
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Sold house. Looking to find out how much I'll receive
Hi, Selling my home for an agreed price of £92,000 I have £37,000 left to pay on my mortgage. Would the money I get from the sale be £92,000 - £37,000 which would be £55,000? Before legal fees etc
