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Remortgage - extra for new car purchase.
In a few months time I'll need a new car as my lease car goes back. This time I'm thinking of purchasing rather than leasing, it so happens that my fix rate mortgage is coming to an end and I was looking to remortgage anyway, would it be a bad idea to borrow an extra £20k for the new car? I've only got about 25% ltv…
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Broker Advice Please
Hi everyone, long time lurker first time poster.... Ok so I hit a financial issue 5 years ago and picked up mortgage arrears and 5 defaults. Partner picked up 1 default. All defaults dated May 2011 so will drop off next May. Joint income of 67K. About 20K in equity and savings of 6K. Currently saving £1300 - 1500 PM. My…
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Declined Accord Mortgages - haven't a clue why! Help!
A broker just advised me that a joint mortgage application for me and my partner has been declined by Accord Mortgages. Details: * Remortgage * Borrowing £211,500 on £240,000 house, so just under 90% LTV * £190,000 ish balance on current mortgage - extra borrowing for home improvements * 33 years * 2.34% fixed 2 years The…
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Remortgage appeal with Precise mortgages
Can you help me please, I need some advice. We applied for a Buy to let re-mortgage and looked to release some capital to reinvest this into another BTL. The re-mortgage application is with Precise mortgages, they declined our application on the following basis; Following review of the application we are unable to proceed…
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Two part mortgage - should I merge
I currently have a two part mortgage on my house with the same lender. I moved house last year while still in the middle of my mortgage deal with them, so it made sense to keep the current mortgage with them and then get the extra borrowing needed from them as a separate part. Part 1 of my mortgage is up for renewal next…
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New Mortgage questions (travel/affordability)
hi all, just a few questions as im considering going for a mortgage very soon.. 1. I am planning on the idea of saving money and travelling for 6 month to a year in maybe 4-5 years.. i understand nationwide for example like to charge +1% as a fee... if i rent to a friend i guess i don't have to tell them but i guess this…
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will we get accepted for a remortgage?
we have a mortgage of £27000 and would like to remortgage so we can make our house bigger for our growing family, we want to borrow around £20000. my partners credit score is 732 and has a default. we are with Santander. are we likely to get declined?
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At what age is a 25 year mortgage too long
As the title states really and in particular at 90% LTV. We are both 32. Thanks
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Is this mortgage amount realistic?
Hi I am looking to move house and am considering my options in terms of borrowing amount. I have a mortgage free property worth about £500,000 Me and my partner earn about £80,000 combined with no debt or dependants. Our dream property is up for £875,000 but we would be looking at offering £850,000 We have approximately…
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Sick Pay disrupting BTL remortgage – advice please!
This July, I applied to remortgage from residential to BTL repayment (large lender) for about £170,000 LTV 60%; it was approved, valuation done and underwritten. Before completion, I reapplied for additional borrowing of £30,000 for home improvements, moving the LTV to 67%. When the advisor updated and resubmitted my…
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Forsters' fees for acting for Lender?
Hi all, I'm a first time buyer and made a big mistake when choosing the solicitor. I didn't have the experience, what type of hidden costs may resurface later on. I have purchased a new build last summer, which is now completed. The builders had referred the solicitor to me in first place. So I accepted their fees of…
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Nationwide BMR vs Fixed
Hi, I am wondering whether to move my repayment mortgage from the Nationwide BMR (2% above BoE, currently 2.25%) to a Fixed Rate - for example 2 years @ 1.79% (no fee). On the face of it an easy decision, but the catch is that once I jump ship from the BMR I can't get back in. After the Fixed Rate period ends I will go on…
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Remortgaging - how long afterwards can you move?
We have shared equity on our house with our housebuilder, interest kicks in February so we were looking to move house or remortgage before then so we can get it paid off. It's given us a headache now and put us in a catch 22 because the 20% of the house value we have to pay back puts us in a position where we have a low…
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Buy a Home in Another City
Recently returned from South Yorkshire after a summer break had my family thinking of moving to take advantage of the cheap housing market. The location of choice would likely be Sheffield as its near to other cites with a good job market. I currently living in the South of England and struggling to get on the housing…
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Lease for mortgaged property
Hi all, We bought a leasehold property a couple of years ago and during the sale we were sent a copy of the lease that has the names of the previous owners on it. Now we need to remortgage the mortgage company are asking for a copy of our lease. Is this one OK? Do they not reproduce a new copy with our names on it?
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Shared Ownership product switch
We currently own 50% of a Shared Ownership property and our mortgage interest rate is 3.19% fixed until December. Our current bank can offer us a product switch to another 2 year fixed deal at 1.89%. Is this a good rate for shared ownership? Our LTV is around 73% for our share. Not looking for a longer fix as we may want…
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2 or 3 yr fix??
Hello, We've been offered either a 2 yr fix at 2.29% or a 3 yr fix at 2.79% on a £320,000 mortgage. Upshot is, if we opt for 3 yr, then the added interest each year will be £1600. Is the 3 yr fix worth that extra year at 2.79% and avoid a higher rate should intereat rates shoot up?
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Single mortgage application rejected due to husbands credit rating
Hi, I am new to the site, so thank you for taking the time to read my thread. I was wondering if anybody could offer some advice. The Situation; My wife applied for a mortgage in her name through a broker with accord mortgages, due to her credit rating being excellent, mine however has two settle defaults dating back to…
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New credit after mortgage accepted.
Last week we applied for a mortgage with the Halifax using the help to buy scheme, and we were swiftly accepted with no problems. Would it affect my application if I was to take out a new mobile phone contract, my current contract with EE is half way through its 30 days notice period. Would it be viewed as a like for like…
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Switching current accounts 6 months before remortgaging
Hello I'm looking at remortgaging end of April next year when my current fixed deal comes to an end. This will most likely be with a new provider as it looks like much better deals are available than with my current bank ..However I am currently very tempted to switch my current account as it looks like there is £200 cash…
