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Help to buy advice
Hello people, This may seem stupid but I need some advice on help to buy. Just over a year ago I had previous credit problems but I have now sorted this out and been paid back now for over a year I also had a ccj which is also paid off but this still says on my credit file for 6 years but shows as satisfied. My question is…
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Mortgage advice please
So I am new to this particular board but was looking for some advice please. I have bad credit and am currently in a DMP. I will soon be made redundant and will be getting a nice retirement sum. Unfortunately not enough to clear my debt. However, I wlll be relocating for my next job and the cost of housing is very cheap.…
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Joint Mortgage, poor credit?
Hi All, My husband and I are potentially looking to move to a bigger property. He is currently the only person on our mortgage on our house we brought just over 4 years ago. We both have permanent full time jobs but I have a poor credit rating due to a default nearly 6 years ago. My husbands credit rating is good if not…
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We need to withdraw our offer on dream house
To cut a long story short, we received an AIP for an amount exceeding that required for our purchase. The broker was given all of the details including foreign income and I emphasized that we only had a 10% deposit. We duly offered on the dream house but it would seem the AIP isn't really worth the paper it's written on as…
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Mortgage Help - PhD Graduate and Fixed term contract
Hi I am desperately seeking any advice in regards to getting a mortgage. I have had an offer accepted on a property but I am having great difficulty in obtaining a mortgage due to my employment. I am in the process of finishing my Phd (for which I was received a stipend for 3 years) and I recently (March 2016) took up a…
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Overdraft Effect on Mortgage Application
Hello all, We shall be submitting a mortgage application fairly soon through HTB, with no outstanding CC debt, but potentially with £1k of overdraft (dependant on its effect). I've seen that 5% of the OD balance can be used as part of an application's monthly outgoings, but just wanted to confirm that fact before…
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How do you know when to buy?! Worried about a crash
My partner and I are saving for a deposit as we currently spend £15k a year renting, but house prices just keep going up and up. We are in Hertfordshire so always going to be expensive but a 4 bed terraced went for £290k in April 2014 and is now back up for sale for OIEO £400K!!! For the same house in 2 years :( absolutely…
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Adverse credit mortgagr
Hi me and my partner are looking for a mortgage towards the end of the year. Combined we have a income of around £30,000 pretax and have around £4,000 so far (looking for around £4,500-£5,000 for 5% deposit). I have a lot of missed payments with the last one been middle of last year, I am debt free now with one credit card…
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Mortgage Direct Debit
Hi all, We are in the process of remortgaging and out completion date is the 31st of May. Our current mortgage payment is due on the 1st of June so my question is, As soon as the re mortgage is complete can I cancel the direct debit for our current mortgage even though it is due the next day? The reason I ask, is that I…
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First mortgage payment
Hi there just been told our completion date will be 1st July so does that mean first mortgage payment will be 1st August or likely to be end of July? I checked offer letter but example isn't first of the month, thank you
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Remortgage Question
Mods - please delete this thread
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Buying out my ex partner
Hi all, My partner and I have recently split up (not married, no children). We bought a house together 5 years ago and I am now planning on buying him out of it. Everything to do with the mortgage was done 50/50 including deposit, bills, repayments etc. We currently have roughly £86k left on the mortgage. My question is…
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FTB and lottery transactions
Hi, I run a lottery syndicate of 20 members. Together, we spend £100 on each lottery draw. £5 each. I have a separate current account that only has the transactions related to the syndicate. So, I have £200 of lottery purchases per week going through this account. There are deposits of £190 from the other members of the…
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Stamp duty for pensioners
Hi all, my mother is to sell the family home, as she lives on her own now and would like to move into a 2 bedroom property closer to me. Does she still have to pay the 5% stamp duty as the property is over 250k or as an oap is she entitled for a discount. Thanks in advance.
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Selling For Less Than Your Mortgage
We have our house on the market and have done for the last year. We need a bigger house for us and our 3 children. The house originally went on the market for 85,000 but is now at 69,950 which has blown away our profit. We have around 65,000 left on our mortgage. Once fees etc have been paid if we sell then we are left…
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Using the same solicitor as seller - good or bad idea?
I'd like to hear from people about whether it's a good or bad idea to use the same solicitor as the other party. I'm about to instruct a solicitor on Monday and I can't decide whether it'd speed things up if we both used the same or if there are any drawbacks. Is it also easy to change the details of the solicitor with the…
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Release Equity from property
I am coming towards an end of 2yr fixed term mortgage deal with HSBC. Current Situation: Property Value: £335k LTV: 60% I am considering the following: - Releasing 15% equity (£50k) when re-mortgaging. Q1. Is it straight forward? If I am allowed to release equity, I would initially like deposit this in my savings account.…
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re mortgage question
My fixed term is coming to an end in February. I bought the house with my daughter. She has never lived with me since we bought the house as her job changed she never moved in with me. I have had 2 lodgers giving me an income of a couple of thousand pounds a year. My daughter now wants to come off the mortgage as she wants…
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Halifax mortgage underwriting question
Hi Just some background my partners mortgage application with Halifax went to full offer the other week and he recieved correspndace through the post so the did the solicitor. When the solicitor did the money laundering check it flagged up a issue with the deposit as that came from myself (his partner). The mortgage went…
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dependent child - mortgage application
Hi, I'm helping my ex with this info. He's buying a property alone and wants to get a mortgage. He lives alone. Our child lives with me and my ex pays us monthly child support. Ex knows he needs to declare the child support he pays - on his mortgage application, but when asked on the application if he has a dependent child…
