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Mortgage in Principle query
Hi guys, Im trying to buy a house and the estate agent is adamant on the mortgage in principle, my query is does it show an amount on the paperwork(how does it work) because they want to see this whilst im making offers. also any idea of how long they last for. whats your guys opinions on MIP im a bit reluctant due to 2…
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Endowment ending procedure what/next ??
Hi an insight would be appreciated. I have contacted Friends life twice about an endowment policy I have maturing in less than a month and the info regarding what happens next has been not very helpful at best and contradictory at worst. So my questions are What if anything do I need to do prior to the end date ? How are…
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2 offers: confused
hi all i've put in offers on two houses recently and BOTH have came back as accepted now. i am starting to gravitate to one of them now but i'm a little worried at how to deal with things. as i have put in the offer, is there any LEGAL compulsion to continue with anything (i haven't exchanged contracts but have had an…
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Should I use Mortgage Advisor or Mortgage Broker?
Hi - I'm a little confused. I need some help, I'm about to try and purchase my first home. Should I be speaking to a mortgage advisor or mortgage broker? I'm unsure of what the actual difference between both of these are? Can anyone clarify for me please. I have a mortgage advisor calling me back tomorrow so I can have a…
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When will I complete??
Mortgage offer letter in, searches should be completed by Wednesday all paperwork complete and chain either end. I am hoping for the 1st April as this is the date we have to move out of rented house. What do you think?
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West Brom additional lending
I'm struggling to find any details of West Brom and additional lending? Does anyone know what their rates/terms are? Any advice guidance would be good if you have any experience. Basically looking to borrow upto £35000 for an extension (currently owe £190000/value conservatively at £345000 - next door has just sold for…
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Starting out now for a deposit - save for 4 years or aim for 5%?
Hi, I've been a long time lurker and posted back in 2013 about my self inflicted financial situation. forums.moneysavingexpert.com/showthread.php?t=4563581 Things are better now but its been a bumpy road. I'm looking for a bit of advice on my current situation - if anyone is able to lend some advice please? I have 3…
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Mortgage & Debt Advice
Hi, My wife & I are hoping to be in a position to buy a house soon. I have £5000 bonus from work which I am looking to use towards a deposit or clearing off debt whichever is the better option and I’m after everyone’s advice as to the best steps to take. 4 years ago I had a lot of trouble with debt and defaults were placed…
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Lender is requesting P60
Hi all, I'm in the process of a full mortgage application and the lender has came back requesting my partner's and myself's P60. I have mine but my partner has lost her's along with last March's payslip. Our missives are due to be signed April 8th so that only gives us 2 weeks! My advisor has said that she will ask the…
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Do Workplace Share Schemes affect Mortgage Borrowing Amount?
Good morning :D My question to you helpful fellows is this.....if i pay into a Workplace Share Scheme (post tax, not salary sacrifice) will this affect the maximum amount we can borrow on our mortgage? Bit of background... We are currently looking to move to a bigger home, at present we are stuck in a Santander 2 year…
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Severance of joint tenancy - Any risks?
Hello, We separated and our house sale fell through. We own the house as joint tenants but the ex is proposing to go to a tenant in common. I understand that she could do it unilaterally so there is not much I can do; anyway, I am trying to understand the ins/outs. We used help-to-buy so 20% is owned by the Gvt in both our…
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Claiming interest on BTL mortgage payments.
We have never claimed interest back on our BTL mortgage payments. When I phoned the bank, initially they said I couldn't! They are now sending me a form and I'm told I can claim for several years. Does anyone know how long we can claim for? Thanks in advance for any help.
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HTB ISA & 5% deposit?
Hi everyone, me and my partner are hoping to buy a house this year. We have both opened a HTB ISA and pay in the £200 every month. We are looking to buy as soon as possible so we are just aiming for a 5% deposit. The houses we are looking at are around £130k. My question is can we just save up £5200 ourselves and use the…
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Need some advice here!
I'm planning to borrow a sum of 50k. I did calculate a rough estimate of the amount I would be required to pay monthly which amounted close to $600. I do not know how I could share the screenshot. Is it a good enough deal? The interest rate is 2.54% calculated via the mortgage calculator of Northwood Mortgage. Are these…
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Advise from 3 financial advisers
Hi All, I have been given some financial advice from some financial advisers I currently have a mortgage on a property in NW London. Recent estate agent valuations value it at 750k. We currently owe 220k on the Santander mortgage. We have a great rate on the mortgage .49 above BOE Base Rate - so dont want to loose that...…
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First time buyer on a renovation
Hello, I'm currently looking into buying my first home. I have a 10% deposit for a property of around £150000 which should be easily affordable on the payments. I'm looking into doing a renovation project, so buying a house doing it up then possibly around 6 months later selling it on. Can this be done with a mortgage?…
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Application interview - Santander
So we're booked in for our phone interview tomorrow. Was warned it would take 60-90 mins. Unfortunately I have only got about 75mins free for it now. I'm not keen on rearranging because I don't want to delay things. Does anyone know how long it really takes. Also, what possible could they need for this length of time?…
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Paying off mortgage with new loan
Hi guys I know this goes against the unwritten rule of borrowing. Just had a thought. I have about 22.5k left on one of my mortgages. I thought that I could borrow 22.5k off of Zopa at 7.2% giving me 1600 interest charges over 5 years Whereas my mortgage is 2.25% and over 21 years left. I think but don't quote me on it p.…
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Any mortgage advisers online?
Any idea why the Nationwide calculator says I could borrow £190,000 if I enter my student loan repayments and £222,000 if I don't? I know it comes down to the affordability of the monthly payments, but that seems like a huge difference. I currently pay off £228 per month, have around £4,500 outstanding and should clear it…
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FTB Fixed-term contract problems
Hi all, I'm ready to start looking at properties to buy as a FTB. I have a large deposit meaning my LTV is around 68%. I've been working in a particular public sector industry since January 2013. I earn around 23k. Unfortunately, the Government decided to privatise 70% of the service in 2014 and I fell into the 'private'…
