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Mortgage approval and transfers between current accounts
Hi, We are waiting on a telephone interview for an agreement in principle for a new mortgage to move house. Since our previous move, we have read that getting approved for a mortgage is much more difficult and we will be assessed on affordability based on income and outgoings (good thing). Some people have told us that…
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Deposit query
I am going to be meeting with my mortgage advisor to finalise my mortgage application (I have been approved in principle) and have never owned a property before however the advisor and solicitor have requested I provide proof of my deposit building up. I sold some of my belongings in order to get some extra money for a…
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Shared Ownership scheme
Hi, has anyone heard of have experience using the 'Your Home' scheme?(Please google it's a .org.uk site but I can't post the link!) They offer a Shared Ownership scheme with shares as low as 10% and on the open market. I'm very interested as we're looking to get on the housing ladder as soon as possible, Just weary that it…
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Nationwide rate cut
Just had a letter from Nationwide about rate reduction going from 2.5% to 2..25% I have been overpaying last couple of years balance is approx £17300 approx 7 years left. normally pay £275 with overpayments of £150. New payment from September is £224 with the rate reduction is this correct as didnt expect £50 reduction on…
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New Director buying a house
Hi Everyone! First post in this forum as I couldn't find another thread with a similar scenario. Just a bit of background for myself. I am currently from the South of England and my family and I are moving to another part of the country because I am buying the shares of an existing company. The company is already a running…
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Renting out room
Hi all, I purchased a flat with my sister, and we moved in end of March. But it was a huge mistake, as I do not get along with her, and I need to move out - for my own sanity, my health and my finances. Even though I love the flat, its location etc, and it's going to be painful to move away, I have to do it. Can I just…
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Before Completion Date Two questions --Am I fined and next day courier
My mortgage is approved last week of July. My solicitor will fixed the exchange date after I will return documents signed tonight. Q1)Sellers solicitor said I will be fined if completion date not follow properly . I will liable for all costs and expenses incurred by the seller in that if not able to complete at the…
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Completion date agreed but solicitor reluctant to exchange?
Hi looking for a little bit of advice. We have an agreed completion date for Tuesday next week. I have just sent over our deposit to my solicitor and have asked when we plan on exchanging contracts. My solicitor has replied saying that we can exchange contracts but our mortgage advance won’t be received until…
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Sky and broadband before mortgage completion
Hello, Just after some advice on arranging sky and broadband before our mortgage completion, will this effect our mortgage application? due to complete in 2 weeks. Has anybody had any trouble with this in the past? Thank you
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Remortgaging to buy with poor credit.
Hi. I am looking for some advice, I am hoping to re-mortgage or get a loan against a property that I own outright. The property in question is valued at around £160,000 and I would like to get £100,000 to buy another property, my mother lives in the property currently and we rent (looking to buy). We currently have a poor…
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Help advce for a mortgage pretty please?
Hi All, please could someone advise if at all possible. I live with my wife in rented accommodation. We are looking to buy our first house. I earn £40k per year and my wife £35K. I have a poor credit score and was in difficulty a few years back where I defaulted on a couple of loans, which now I have rectified. I am still…
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Wife on ex partners mortgage
Hello, I was wondering if I could get some advice please as I've searched online and found nothing so far. Basically my Wife of a year is still on a joint mortgage with her ex partner (not married), both separated over 6 years ago. He has been living in the property since then and paying the mortgage on his own. Due to him…
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Nationwide save to buy mortgages
I am 2 weeks away from moving house, i have a nationwide save to buy account which i saved my deposit in and a mortgage via nationwide which I applied for via a broker. I was under the impression that i was not eligible for the save to buy cashback as i had applied via a broker, however i have been told at a help desk in…
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overpaying mortgage
Hi, I'm a bit confused with how much I would be saving if I overpaid on my mortgage. If I use the MSE overpayment calculator with the following details: £55,000 mortgage, 33 years, 2.44% interest, overpay £200 per month. After 2 years I would have a balance of £47,863, instead of £52,777 - a saving of £4,914. However, it…
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Mortgage Application - 25 weeks and counting
Hello. We applied for a mortgage with Nationwide at a meeting in our local branch on March 1. We still have no decision. We do know that at one point, a managed decline was put on the application. My understanding is that this was because the underwriters believed my rental income from another property was not continuous.…
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Large panel system building ,mortgage
Hi Good morning to all of you I would like to ask for some help with banks who lend on large panel system , because my council flat is build with large panel system and all the bank my Brooker contacted don't offer mortgage on this kind of building. the banks went to my flat to do the valuation but latter they said they…
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Re-mortgage with £20k credit cards & Overdrafts..?
Are dreaming? We have a 17 yr mortgage of £181k and we're currently on a good rate, I can see we can do better... We have an £83k income, mortgage outgoings of £1100 ish. There's about £3k in various 'pots' saved up for regular expenditure on cars, childcare etc. No other credit elsewhere and no bad credit history.... We…
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Applying for mortgage...grey area regarding Jersey pounds.
Me and my husband are looking at buying our first house and I've been on the phone with the mortgage advisor this morning but he's having to look into something and call me back. My husband currently works away in Jersey and is paid by a Jersey company and pays Jersey state tax. Because he's paid in Jersey pounds they are…
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Pay off mortgage with penalty or not??
Hi, My husband will have a retirement lump sum available which we could use to pay off our relatively small mortgage (my husband is due to retire but I'm still working full time with a minimum of 5 years to go on a reasonable salary). Our mortgage is fixed until 2019 and due to finish in 2024. Can anyone advise on pros and…
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FTB - Confused by the amount of different products....
Hello. I am a First Time Buyer and I am currently searching for properties. I have recently been given a DIP from Nationwide. The DIP is for £140,000 and I have £70,000 deposit. I have been looking at the different products available and to say I am confused is an understatement. I am fully aware their must be a lot of…
