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2 mortgages - 1 property. Overpay on which?
Good morning fellow mse's! I hope someone could please help me as I can't seem to work this out. We're in a position to overpay our mortgage by £400 per month (no overpayment charges). This is the mortgage we have: £70k - at 2.99% fixed until September 2018 (ported from our previous property) £90k - at 3.35% fixed until…
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Seller backed out/ solicitor costs?
Hi, My brother was due to exchange contracts for a home he was looking to buy. It took 2 months to negotiate, surveyor, etc and one day before signing the seller contacts us citing he cannot sell property due to his solicitor advising him that he's going through divorce proceedings. However now my brother is stuck with the…
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Mortgaging a property I already own.
Hello. New to this forum and any help would be much appreciated. Two years ago my parents bought me a flat as my salary was not enough to get me onto the London property ladder by myself (whose is?) It is now time for me to get my own mortgage and pay my parents back. I called Santander and they rejected me straight away…
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Deposit at Exchange 95% LTV
Hi All, Mid way through the purchase of our first property. We have a 5% deposit and have received our mortgage offer on a 95% LTV mortgage with Nationwide. So all of the mortgage side for us is complete and ready to go. Solicitors have started work after receiving the draft contract from the seller's solicitor's. They…
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Transfer of title
Hi all, We've recently remortgaged with same lender using just my partners income as I am newly self employed. The current morgage is in both our names as are the deeds. Everything is going through fine but the bank have now said it's a transfer of title application and needs to go through their solicitors. We both still…
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mortgage advice wanted please
Hi Advice wanted on my first steps to get on the property ladder, I'm 21 in full-time employment. I have saving of £6000 for a deposit. I can afford around £550 a month for mortgage repayments. At the moment i'm living with parents paying only £80 a month board. should i wait and save for a bigger deposit. of start looking…
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Endowment shortfalls
In the late 80's i/we bought 2 x endowments to pay off our mortgage. At the time there was not even a hint that there would not be sufficient funds to more than cover the mortgage amount. It was not until both endowments were nearing their end that we began to see the red signals that there was potentially a shortfall. We…
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Releasing Equity from shared ownership property
Hi, Does anyone know if it's possible to release equity from a shared ownership property (50/50 with a housing association) which is worth approximately £330,000? Thanks in advance for any info edit: I should have said it's to pay off debts that have been accrued by my mum who passed away at the end of last month
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Do Lenders require an Employers' Reference?
Hi All, Have applied for a Nationwide mortgage with my partner: all documentation sent off and approved and valuation booked in for next Wednesday. Just wondering what everyone's thoughts were regarding Employers references? I have 2 jobs: 1 I have been in for 18 months and another for 3 (nearly 4 months). My partner has…
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Mortgage Problem
Hi all. I took out a mortgage starting on 1st Jul 16 for 100k. The mortgage company are charging me £300.77 initial interest then £1065.27 per month for 10 years. So I'm paying back 300.77 + (1,065.27 x 120) which gives 128,133.17 I made an over-payment at the beginning of the month for 1,500 and the mortgage sent me a new…
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Best way to pay off mortgage?
Hi, looking for advice. I have a variable rate mortgage with 1% over base, really good, and have 11 years left. At the end I will still owe about 75k as part on interest only. I have two options to clear this down a bit, either pay extra off each year from net salary, approx 3,500 per year or pay gross into a pension…
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Taking over parents mortgage with a gifted deposit
Hi, I'm after some advise please. Is it possible, or what is the best way, to take over my parents mortgage. The details are:- House Value - 150,000 Remaining Mortgage - 40,000 They are willing to gift me the equity so I only need to mortgage the remaining 40k. The spanner in the works is that I'm expat living out of the…
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Buying my council house/investing inheritence
My mum sadly passed away recently, The will has gone to probate,in about 6 months or so I will get half the value of the family home, I estimate this to be £80,000-£100,000. I live in a council home and just keep my head above water. I am 59 years old and take home pay is about £850 a month. I would like to buy my council…
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Broker has wrong info on my application..
Another question regarding my mortgage application.. Just received my mortgage application via email from my broker/advisor. Having gone through it there are a few mistakes on it. I had already submit this application for a 95%LTV via my broker and was refused. On affordability. However they did offer me a mortgage with a…
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Expat buy to let mortgage when renting out our property
We might be moving abroad later this year. Our current mortgage deal ends in April 2017 by which point we'll only have one foreign income. We hope to rent our house out whilst we're away. Here's the figures: Current mortgage is with Halifax - £255k left, property worth £445k according to zoopla today. Monthly payment is…
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Agreement In Principle Confusion
I am buying my first home and completed Lloyds Bank AIP today to see how much I could borrow. I am first time buyer, living at home with a salary of £45k and £18k overtime. Outgoing average £500 per month. I entered all of my details being 100% honest and accurate and the figure they gave me was £427500 with a minimum…
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Selling a house to daughter
The basics (all figures approx) - Increased my mortgage to buy derelict property for £50k in 2009. Worked at it slowly up to point I retired 2 yrs ago and put in my lump sum £50k to finish it off House now valued at £200 (standard non-standard construction - timber so banks are not keen regard mortgage) Selling to daughter…
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Confusion over amount we can borrow
We are in the process of moving house and looking at mortgages, we have done the only Barclays mortgage agreement in principle (both bank with Barclays and it says we can borrow up to 170k with the details we have given, (which are accurate) I then rang a broker and gave him the same details and he said we could borrow up…
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Credit Card
Hi All Myself and my partner are looking to buy a house in the next 6 months or so. He currentluy has zero debt and I have around £3500 on a credit card. Should we make sure that we both have zero debts before we start looking at applying for a mortgage? Or is it not good to show that you have no borrowing? Sorry my…
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Credit Scoring
Hello, I have spent the past year monitoring and improving my partner and I's credit scores via Noddle. As we are now only a few months out from starting the buying process, my intention is to also sign up for Experian starting from next month. However, when visiting the site this morning, I noticed that Experian is now…
