-
Credit file update and mortgage application NatWest
Hi all, Hoping you can help with a query I have. I currently have a mortgage application in with NatWest. On my credit file it shows they did the credit checks two days ago but my credit cards haven't yet been updated since July, therefore they don't show the latest payments on them so the figures are different to those on…
-
10 Yr Fixed vs 2/3 Yr Tracker
I am currently in the process of buying my first home in the South East of England for £210,000 with a deposit of £60,000. I am debating whether to apply for HSBC's 10 Year 2.99% Fixed Mortage, which works out about £8,600 per anum with set up fees - but has early repayment fees. Or to apply for a 2/3 year tracker with an…
-
Mortgage query - income
Hi, I was wondering in terms of a single person mortgage what a bank what give or how they would see it. Going on Maternity at full pay around 6 months then the other 6 months SMP then after 12 months returning to work. Would a mortgage get rejected are some banks leniant. When its SMP rate, Partners income would be…
-
Am I too cautious?
We are on a cheap tracker from First Direct at 1.79% and our monthly payments are £569. With the latest interest cut our payments are about to drop to £542/month. I'm a concerned that with money printing and imports becoming expensive are we actually going to see inflation raised to a level where the BOE raises interest…
-
Inheriting a mortgaged property
My ex-husband, aged 59, has taken out a 30 year buy-to-let mortgage in order that he can leave something to our children (he doesn't own the property in which he lives). He does not intend to take out insurance (it is too expensive because of his age and because he is a smoker). Given that house prices are currently…
-
Interest only mortgage question
This is one of those situations where I am overthinking and confusing myself! I have an interest only mortgage for a rental property where I pay £200 a month mortgage payment which only pays off the interest on a £80000 loan. I now am going to overpay £100 month but my mortgage monthly payment remains as £200 (as it needs…
-
Mortgages and overdraft usage
Hi Everyone, Thanks in advance for responding. I've been reading conflicting reports on how lenders view people using their overdraft. Some say it's an immediate no whilst others say it's ok as long as you haven't been over your overdraft limit. As mine is interest free and has been since Uni, I've always used it (in…
-
Remortgage or move to SVR until we move?
After some advice as I'm struggling to get my head around this, never remortgaged before and we were FTB last time around so it's all new! We're currently on a 3 year fix with nationwide, due to end in November. We paid £168k and started off with 95% LTV at 5.3% interest, but we've overpaid a lot so we now have about £27k…
-
Pay off mortgage early but keep endowment?
I have a mortgage of £62 000 split between endowment and repayments which has 3 years to run. I have two endowments due to mature in September next year, giving me approximately £16, 200 and £27 000. I invested in an ISA Maxi when I was informed about the projected shortfall. I have cashed this in recently as we are…
-
alternatives to mortgage?
Hi, My mortgage fixed period is about to expiry and planning to get another mortgage. I only left about 5% of the house value to - say about £ 30k. With this relatively low amount any re-mortgage is killing me with expenses.. YBS for example charge > 1k just for expenses. Under current terms I would have to pay an hefty 4%…
-
alternatives to re-mortgage?
Hi, My mortgage fixed period is about to expiry and planning how to re-mortgage. I only left about 5% of the house value to - say about £ 30k. With this relatively low amount any re-mortgage is killing me with expenses.. YBS for example charge > 1k just for expenses. Under current terms I would have to pay an hefty 4% per…
-
Mortgage payment has risen in last year of mortgage (prior to rate drop)
Quite recently, I received a letter from Birmingham Midshires to say that in the last year of our mortgage they require a larger monthly repayment - about £70 per month extra, in order for the loan to be repaid on time. No reason for this was stated. I assumed that they must have miscalculated and now needed to increase…
-
Bank statements and mortgage application
Hi, I was hoping for some advice. My partner and I are going to apply for a mortgage next week. I was wondering what lenders are looking for when they search your bank statements. I frequently move money between a savings account and my current account, I find it helps with budgeting. Will this be viewed negatively?
-
Getting Second residential mortgage after divorce
Hi there, my brother is about to get divorced. His ex is going to stay in the house with his daughter. As well as paying that mortgage, he has to pay CSA. He has enough money, just to pay £700 a month rent. Can he get a second residential mortgage instead of renting? We don't have enoughof a deposit to get a BTL mortgage.
-
Staircasing + Nationwide = 2 mortgages instead of 1?!
Hello, I have a shared ownership property 25% with a Nationwide mortgage. Currently, I'm at 60% LTV, or 40% equity. I would like to staircase to 50%, thus double the property value, half the equity and end up with 80% LTV. I went to nationwide website to look at mortgage rates under "existing customer switching deals" and…
-
Natwest Mortgages
Anyone applied for a Mortgage through Natwest? We've put all our documents in on Wednesday (3 months payslips + bank statements, P60, proof of deposit, proof of identification, gift letter) they've told us we will have to pay for valuation £250 roughly. We had originally gone with Skipton but they undervalued the house…
-
Would i be able to get a mortgage with a postman job? (details inside)
So i have an interview to be a postman on Monday - i would love to get it as i currently work in an office which i hate. However the contract (which is hugely in Royal Mail's favour) is the big drawback.... Nowadays for all their postman jobs, they offer the same contract to all new starters - part time (24 hours per week)…
-
Confused - Is it worth remortgaging?
Hi, After some advice. Have three years left to run on a 5 yr fixed rate and trying to figure out whether its would be worth switching given low interest rates. My sums say its not but then the calculator on here indicates it would be. Can anyone have a look at the details below and tell me whether I'm missing something?…
-
Advice on remortgaging part interest only
Hi everyone and thank you for taking the time to read this post. To start, basically my mum and step dad went through a number of very difficult years together, and have come out the other side of it with a very complicated financial situation. They are not the best when it comes to managing their money and budgeting, so…
-
Anyone else's mortgage payment gone up with the latest rate drop
Hi All With the news of the rate drop, i waited patiently for C&G to send through the details of my new monthly payment. It dropped through the door yesterday, however, rather than the small decrease i expected (i have the .17% above base tracker with less than 2.5 years to go) - i get a 16GBP raise! Speaking with C&G -…
