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Changing from interest only to Repayment
Hi all, I'd appreciate your help. I'm 42 and I have a repayment mortgage with Santander on a 10 year term. I am on year 8. I have a poor credit score. Working on getting it up apparently it's high side of poor... I'd like to change from interest only to repayment. There is approx 40 thousand equity in the house. What I…
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To take on a new mortgage?
Hi, I'm new here and looking for advice. We're currently mortgage-free and are considering taking on a new mortgage (staircasing to 100% ownership in a shared ownership property) to give us more options in the future. We're living on one salary at the moment (but not forever). Repayments should be fairly affordable…
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Cost of switching lender?
Borrowing 25K against 130K house value Ignoring the cost of leaving your existing lender.....What are the costs to get the new loan set up? Is there a solicitor required - how much? Is there a survey required - how much? Any other costs (apart from the cost of the new loan which is already known) ?
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New build and deposit
Hi all, Me and my partner are buying a new build. We have very nearly saved our deposit, but we want to reserve our plot. It looks like the house won't be built for another 8/9 months, but it's a popular development. Are we able to reserve now and save more to our deposit in the meantime? I know there are loads of new…
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Mortgage problems on horizon - decisions help needed
Hi all, I know the first thing you should do if you are going to have difficulty paying your mortgage is to speak with your lender. However, being a first time buyer, I'm lacking some of the basic knowledge that will make that simpler, so please help. We are able to make payments right now and can do so or the next 6…
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Probate
Hi, Does anyone know how long this takes to sort out if there was a will? I live in Scotland. Thanks Janette
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paying off mortgage v pension plan?
I have a £132000 mortgage paying £650 a month on interest only mortgage with 16 years to run...so far I haven't paid off anything on the mortgage but hope to change my hours at work so will be able to afford an overpayment monthly of £750 What Im wondering is if it would be more beneficial financially to pay this amount…
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Key worker scheme mortgage/deed change
Hi, Wondering if any mortgage expert or conveyancer can give me some advice. Bought our family home solely under my name few years back using the key worker scheme as I am in the nursing industry. I would now like to add my husband's name to the deed. I am assuming cos he isn't a key worker he can't be a part of the…
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Urgent mortgage help please!
Hi I'm desperately hoping for some advice. 3 months ago we decided to buy a house. I got our experian credit reports and paid off and thing that was on there knowing a debt free approach would give us the best chance. Both our experian reports are 995 and debt free. We have fallen in love with a house, offer accepted and…
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Broker question
I found a local broker on the internet and have a few questions, if someone knowledgable could answer them 1) This guy holds meetings in your home (suits me) but is this normal? 2) How do I know that he is qualified in the way he says he is? He is an introducer to a FSA regulated firm that is part of Openwork Ltd. 3)…
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First time mortgage
Hi guys. Me and my partner have found a lovely home - It is for sale at 190k but we think they will accept 170k, so here is my dilemma. Our income is 19k my partner, mine is 19k and csa and cb is 4400 per year. We have 8500 saved. Our outgoings are very minimal and we save 1000 per month however I have just done a…
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Transfer of Property and Mortgage to sibling
Hi all, new to the forum. My 63 year old mother-in-law would like to move closer to us, she currently owns a house valued at £190k and has a mortgage of £74k remaining. The original plan was to sell her house, pay-off the mortgage, and for myself and my wife to buy a property for her to live in, using the money from the…
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Please help my bank have let me down
My bank has mis sold me a mortgage I was wondering if anybody could help me. Me and my partner bought our first home the mortgage was fixed for two years, after a year and 1/2 unfortunately we were targeted by an arsonist he set four of our cars on fire and completely destroyed them within a five month period. We found…
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Tracing deposit questions
Hi All I have a mortgage offer & have had searches etc done by my solicitor as I'm buying a new build. The solicitor has advised they need to trace where the deposit money came from. My mother is gifting me the deposit (it has already been transferred to my bank account from her a few months ago). She originally got this…
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Staircasing (shared ownership) borrowing
Can someone help me at all? I'm so confused and the Barclays advisor was no help. I bought my £277,500 flat last year and own 35% share and paid £16k deposit. My current mortgage is £79k. I want to staircase to 75% but they are saying the best I can get is 20% even with a pay rise of £10k??? My property has been valued at…
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Advice on Consent to let
My partner has a property she part owns with a mate. 2 yrs ago they both moved out and the mortgage company granted consent to let, the mortage company would then assess the situation every 12 months. 2 yrs on they've had no contact and didn't want to risk contacting them as the interest rate would probably be raised. One…
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Selling up after 1 year
Hi there, just wondering if any one would know this as I cant seem to find the answer online... Due to a relationship breakdown, I am wondering if we have to sell our flat after one year of purchase (we can easily get back what we paid) Would we owe the bank the original mortgage amount plus a years interest minus a years…
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Mortgage help
Hi All, I have split up with my partner of 11 years and we have got a mortgage together. I am no longer living at the house and he is going to buy my share out. My questions are can he buy my share by monthly payments or does he have to buy me outright and also our Mortgage product doesn't end till March next year so we…
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Declined Mortgage – without clear Reason
Hi All This is a little perculiar and I wondered if anyone has experience similar, or has any idea why? Here goes: Due to my “not so perfect” credit history and perculiar mortgage situation, we decided to apply for mortgage via. a broker. In a Nutshell, our situation is: • I had 2 settled defaults from Late 2010 – still on…
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Any chance of porting my mortgage?
Hi, Me and my wife took out a Woolwich tracker mortgage in 2011 for £200k on a property worth £250k. We still owe £180k but our place is now valued at £450k. We would like to move to a property which is worth £550k. We have £150k of savings so plus the profit on the sale of the house we would have after fees etc £400k. We…
