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Getting added to parents mortgage
Good morning all, I have a current repayment mortgage on my house of £290k. My parents have an interest only mortgage of £250k. They are around 70 years old. I would like to switch my mortgage to a buy-to-let (which I have been advised shouldn't be a problem getting consent to let until the mortgage expires). At the same…
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Transferring my mortgage. Good deal or look somewhere else?
Hi! I have currently a 3 part mortgage (20years left) with Alliance & Leicester with these conditions: Part 1: Base Rate Tracker 1.49% (0.5%BoE rate + 0.99%) 80K debt Part 2: Variable Rate 4.23% 30K debt Part 3: Variable Rate 5.99% 40K debt After phoning to Santander Bank, they are offering me to transfer the 3 part…
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Halifax mortgage with defaults
Hi all, I found lots of helpful advice on this forum before I put my mortgage application in, so just wanted to post my experience in case it helps or reassures anyone else in a similar situation. Me and my partner, both FTB, joint income of £36,000, house we want is £155,000 and we have a deposit of £50,000, which puts…
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Negative equity - negotiating with lender
Does anyone have any experience of marketing their negative equity property in Northern Ireland (or elsewhere) and then negotiating with the lender to do a deal on the shortfall? If so, which lender? This is something I am considering doing to address c.£70k negative equity - I know lenders do it behind closed doors, but…
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First time buyer - Two quick queries!
Hi All, Just after a brief bit of direction please. Potential first time buyer with partner looking to either get a mortgage now or in July/August. Our salaries are £48k and £35k, a deposit of around £50k. We both have good/v.good credit scores, though I recognise this isn't everything, and no borrowings or issues in terms…
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Direct debt over payment on final mortgage payment
Hi, Just wondering if this has happened to anyone else. Example:- My normal mortgage payment would be £657 per month with my final payment being £24.83p However the bank still continued to take out £657. When I contacted them they informed me that the direct debt firm did not recognise the change in monthly total and that…
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Affordability or not
I recently got married and we both own our own houses, my wife has a relatively low wadge and was refused a remortgage due to affordability, I contribute to the house keeping ect can she add this amount to her income without having to involve me in the remortgage process??
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Understanding remortgage to lower interest deal
Hi, First of all, I'm completely new to remortgaging. My fixed-rate term was coming to an end so I went looking for a new deal. It turned out that moving to a new fixed rate with my current lender was the best option. However, I still can't understand the maths used to work out the monthly payments. My current payments…
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Our buyer can't get mortgage for our above commercial flat. Does no one do them?
We accepted an offer on our flat, but our buyer says he can't get a mortgage as we're above commercial. We're on the second / top floor. Apparently it's that other flats in our block of 6 are directly above food places, whereas our flat is 2 floors above a nail salon. It's a communal door to the 6 flats. The door is on the…
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Sole mortgage application
Hi all Looking for some advice as at my wits end at the moment. Had an offer accepted on a property recently, then applied for a mortgage through a broker and it went all the way through the application, even as far as having the survey done, but then was rejected due to the financial association with my wife. I have a 5%…
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Santander fixed mortgage termination fees
My son/daughter-in-law arranged a mortgage through Santander a few years ago. For some reason they advised he take out two mortgages. He now wishes to re-mortgage and with the extra money modernise the house. Santander have informed him he will need to pay £3000 to close each of the fixed mortgages-total £6000 even though…
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Mortgage companies and probation periods
Hi, We are thinking of relocating within the UK but are worried about having to rent at a high cost for 12 months to complete a probation period at work to then get a mortgage. Are there any mortgage companies that will still mortgage a house if i stay within the local government sector? Or is it what im expecting and it…
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Route to becoming an IFA
Hi, Please can anyone advise the route needed to take to become an IFA?? I hold a BSc degree in Maths and Finance obtained in 2003. Employment history has been in accountancy and tax but no formal qualifications achieved. I'm currently on maternity leave and won't be returning to work. I wanted to take the opportunity to…
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Success in swapping from repayment to interest only with Santander?
We have a mortgage with Santander and are wondering if we can see ourselves through a short-term financial squeeze by swapping from repayment to interest only. Just wondering if anyone had successfully/unsuccessfully done this recently. Is there anything that would be helpful to know? Ie a 'financial squeeze' is not…
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Help
Hello, I was wondering if anyone could help. I am currently looking for a mortgage, but had a default over 2 years ago, due to being made redundant. I was only able to afford half the mortgage payments not the whole balance per month. Everything has been paid off and satisfied. is there any banks that can help??
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help to buy isa
Hello I'm looking for some advice I'm thinking of buying a new build house and want to take advantage of the help to buy isa but i looked at the terms and conditions and it states i must not have owned a house in full and a share of a house i did have a mortgage on a house in 2008 till 2011, i sold the house and relocated…
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Is a deposit really needed?
I have the chance to buy a property from my grandparents who are moving into a bungalow, I have been offered it at a reduced price bit will a mortgage company still require a deposit? So say for instance if the house is worth £90000 but I only need a mortgage for £75000 will they still require a deposit even though the…
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names on mortgage advice
Last summer my partner and I bought a house in cash 75:25 split. My partners 75% was a loan from his parents as his own house was otm and didn't sell until last month. He is getting a mortgage so he can pay his parents back the money. His name only on the mortgage with nationwide. He says he has to effectively buy me out…
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Mortgage + Self Employment
Hello all! I need some advice please. My boyfriend and I are looking to buy a house next year using the Help to Buy scheme. I earn a steady income of £21k, he is newly self employed. He started his business in Feb 15, and I did his tax return for the 6 week period which was a loss of £5k (unsurprisingly). For 15/16, he has…
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Mortgage Affordability & Student Loan
Hello all, I've tried searching but I can't find anything specific enough to our situation. My parter and I went for a mortgage affordability check to find out how much we can borrow and we were really pleased with what they could offer us. But on the way home we realised that we forgot to mention to the advisor my…
