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Contractor, 5 yr contract
Hi all, Firstly, thanks to everyone who participates in this forum, I've already learnt a lot just searching through the threads. I thought I'd post about my specific situation though to get your thoughts. I'm currently employed in a permanent position, but am soon to move to an external consultancy position. The contract…
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Valuation failed - need provider
Hi, Hope someone can help with this query. Natwest have just done a valuation on the property I am interest in and it failed the valuation. This happened only today and I have yet to be told why. The property is over commercial properties however I was aware that this could be an issue and all the details of this were…
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Electoral Role?
I'm going to apply for a mortgage in two month and I'm not the electoral role. Is this likely to cause me issues with being accepted? I've never been on the electorial role and neither has my wife.
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Re-mortgage with history of poor credit
Hello, I'm brand new to this so apologies if it's in the wrong place! My partner and I bought our house when we were pretty young, we got it on a 35 years fixed term (5 years) in 2008 when interest rates were high. Since coming out of this fixed term we have been paying the SVR now 3.74%. Our loan to value is around 85%…
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Buying Extras with Jelson Homes
Hi, Has anyone brought a new build with Jelson homes and have a rough idea of costs for extras? Just wanted to gather my thoughts and get a rough calculation so I know how much I need to be saving. Thanks, Anisha
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Mortgage advice please
Was told this may be the best place to come for some advice so hope someone can help. My partner and i both have mortgages on our respective homes. He has moved in with me and his property is currently for sale and he will realise some profit from its sale. My home has a smallish mortgage on it and alot of equity in it.…
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Preparing for mortgage application
Hi all, A new build development (2 bed flats) I have been waiting to be completed has been released. I have a deposit in cash of my own (£40k) and my parents have offered to match this to make £80k. This is on an expected purchase price of around £250k. My main question in preparation for my mortgage application and using…
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Bank Of Scotland Interest Only Mortgage Ending Soon
My RBOS Interest Only Mortgage ends in 2 months. Does anyone know or had experience as to whether they will let me continue paying for another 12 months?
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child gifting to parents for deposit!
Hi all Bit of a funny one I know - what is the scope for an adult child gifting funds to their parents for the deposit on a mortgage purchase? Other way round to usual I know! Are lenders ok with this? I should point out this is for a commercial mortgage to buy a business (rather than a residential purchase or BTL). Also I…
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Execution only mortgage - Affordability Check
Getting conflicting advice, if you have an existing mortgage and the fixed rate is coming to an end and your lenders offers a "execution only" option do you still have to go through the affordability check? I'm with the Co-op and can book a product 4 months ahead, previously I've used execution only (2011) and the whole…
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Do I need to occupy my new house immediately?
Hey everyone, After completing on a mortgage, how long can you wait before moving in? Ideally, I'd like to put off moving in until I've decorated and moved all my stuff in from various different locations. Does anyone know of any problems with that? The mortgage agreement says I have to use the property as my main…
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LTV confusion
I understand what LTV means and what it represents. but I have an example of my problem. This is hypothetical I have a mortgage of 100K with rate of 1% and is portable. my house is valued 200K. so my LTV is 50%. I want to move house worth 300K. so I borrow 100K more. overall, I borrow 200K for this 300K house. so the LTV…
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Remortgaging tips
My property is valued at £300k and i have 2 mortgages with Barclays, the fixed rate on one of them ends this month and is 2.4% the other ends in April 2017 and is 5.4%, the balance currently for both is £87k so our equity is good, is it best to let the one revert back to a tracker until the other fixed rate ends and then…
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Remortgage completion today also payment date please help!
Hi, I complete today on my re-mortgage, however today is also the date that my direct debit has left my bank account for the previous mortgage. Their redemption figure didn't assume this payment and my solicitor advised not to cancel the direct debit so there will be extra funds coming back to me as I had to send over some…
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2 or 5 year fix?
We applied for our mortgage and asked for a 5 year fix which was agreed by lender. However, when the paperwork has come it has been put down as a two year fix. I'm wondering now if we should leave as is or ask for it to be amended to the 5 year. My thinking on the 5 year fix was not having our product run out as we brexit…
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Help with mortgage shortfall
I own a flat which I lived in before I got a home and family and was advised to keep it whist buying my house as I was locked in to the mortgage for 6 months and had plenty of equity (flat then valued at 105,000... i owe 72,500) and would sell easy. However during these 6 months the credit crunch hit and the value…
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should whole of market broker charge the client?
for btl mortgage in the past, the mortgage brokers received commission from the lender. Has this now changed? I've been told I would need to pay a completion fee of £395 to the broker. Is this normal?
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Mortgage confusion... please help
Hi, bit long winded this but I have a 55%shared ownership flat (neg equity 90k purchase, value 85k, interest free mortgage, Brittania, £49k owed) my girlfriend is first time buyer(self employed, 3yrs accounts avg 28k net, in rented accom) we want to purchase a house together for £170-200k with 10% deposit, obvs if my name…
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Buy-to-Let mortgage
Just trying to get some answers before aproaching the bank. If buy-to-let mortgage comes to an end at the end of a person's retirement, could it be extended after retirement on the basis that the property brings in substatntial rent? Is there any option to hold on to it rather than passing it on to children or selling it…
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sdlt
Hi, I am waiting to exchange on a property, nearly there. I already own a property, it has been previously let, and will be sold. This property is worth under 40k, so as far as I can make out I will not be liable for the second home charge. Anyone confirm this? Many thanks.
