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AIP- will mortgage be approved
Hi, Myself and my partner are currently trying to purchase our fist home using the help to buy scheme. We are hoping to buy a new build by Bellway and are using the New Homes Group broker. We have just been given a mortgage in principle and now hope to apply for the mortgage in around three weeks. We were unsure if we…
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Natwest - Re-mortgaging without a job
I have a home which I rent out and the profit from the rent is the only income I have. I live overseas and rent where I live. I would like to raise some money from the equity in my home (I have at least 55-60% equity) to buy a home outright and drastically reducing my living costs. The extra amount that would be added to…
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Precise mortgages decline
Hello, Looking for some advice please. Our story so far with Precise. LTV 75%. Combined income 52K. Mortgage 127000. 2 defaults on my account dating 3 and 2 months years old and 5 years old. Clean sheet with no missed payments for 3 years. Only debt 8.5k loan from my husband. AIP obtained and passed all affordability. Full…
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Borrow more for a 2nd property??
Hi, I'm new here so this is my first thread, My introductory offer is coming to an end on my mortgage so I am weighing up my options, I'm still young so able to easily get a 30 year mortgage and currently own 40% of my property. I wish to purchase a 2nd property to let out but not sure of the best way to do it, Can I just…
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Parents Property, Gift or Buy
Hi I would like to buy one of my parents properties, its been valued at 350k. The problem is my credit rating is not great - "fair". I can put 50k down as deposit. Would it be possible for my parent to gift me the property and for me to take out a mortgage straight away for 300k? I hear that most lenders will not do it for…
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End of term, what happens?
We are 2 years away from the interest-only part of our mortgage coming to an end (the rest is on repayment) and have no endowment in place to cover it. We aren't too worried about paying it off eventually as dh part-owns another property and that will cover it when he inherits. Will the bank (RBS) just let us carry on…
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Reviewing mortgage at end of fixed term advice
Hi I am coming to the end of the fixed rate period on my mortgage which is with first direct. I was planning to switch to a new two year fixed rate which would save me £75 a month. During the conversation with a FD rep to confirm this, I was persuaded to talk to one of their mortgage advisors as I asked a couple of…
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Re mortgage
Hi There, I currently own a property which I rent out, its worth around 200k and and the balance on my mortgage is 86,000. I am living and renting in another property and have got myself in a bit of a mess with money, missed payments etc and now have a bad credit. I am trying to avoid selling the property and want to re…
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Additional Borrowing in One Name
Hi all, I have a mortgage with Nationwide, it's a joint mortgage with my wife. We've been with them a few years and never had any problems. We have a decent amount of equity in the property and are looking to unlock some of that to carry out some work. Nationwide have a mortgage top up questionnaire on their website where…
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Mortgage advice needed!!!
Myself & my partner are looking at moving house. My partner currently has a mortgage on our existing property. I have never had a mortgage. We are concerned that my partners poor credit rating will affect our chances of getting a mortgage, the main reason she had an IVA in the past which finished in May 2015. We are going…
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Mortgage for property needing refurbishment?
Hi there We're going to be looking to purchase a property in the next 6 months or so (hopefully!) and we're just trying to get a feel of what we might afford in the areas we like before seeing a broker etc. A property came up for sale a few weeks ago and it has got us thinking about taking on a renovation/refurbishment…
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Can't get a mortgage
Please can someone help? Our daughter has inherited £150k which she hoped to put towards a house. She has found the perfect place and needs to take out a mortgage of £60k - there's no cheap housing in our area. The problems are that her partner is self employed with only one years trading she is a stay at home Mum and they…
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Mortgage Help arrears!
Hello This is my first post here forgive me if it's in the wrong section. I'm in a bit of a mess & need some advice. I have recently come out of a controlling relationship & find myself with information about my finances I do not like. I have a mortgage with Halifax that is currently in 2 months of arrears. I am not paying…
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Buying family out of inherited house...options.
Hi, Looking for some advice on options to help my boyfriend. He is a self employed photographer and for the past 3 years he has had to sacrifice his work to look after his mum who had MND. She sadly passed away earlier in the year. The house he lives in has been left in the will to the himself and his 2 brothers. His…
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Closing L+G Endowment.
I am planning retirement in 5 years, and just about to do a final remortgage to reduce my existing mortgage (12 years to run) to match my retirement date. I have a 25 yr L+G endowment due to mature in 5 years also, but I am looking to cash it in now. I will use the amount to clear some of the existing mortgage and the…
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Professional consultants certificate
Does anyone know much about professional consultant's certificates and when they are required? We live in a Victorian terraced house that was refurbished extensively (but no changes structurally) in 2010. We got a mortgage with Santander when we bought the house from the builder that undertook the refurb. Prior to the…
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Too Much Land to Value on a Remortgage
This is a bit niche but I thought I'd share. Earlier this year we did a partial remortgage to buy a rental property. We did this with the aid of a respectable broker We live in an old farmhouse - the word Farm is part of property name. It's a rural area on the edge of a major city. We were exchanging and completing the…
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Lying for lending
Many news sources are covering the uSwitch survey of 1,000 mortgage applicants with children under 12. The Independent interviewed one who accepted that she had lied in order to secure a mortgage of the size they wanted. She offered the following comment in support of her actions : 'We could actually afford the mortgage…
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HSBC Massive Income Multiples for Mortgage
Hello, Wondering what experiences people have had in terms of offered mortgages from HSBC vs. amount indicated on the calculator. The calculator is indicating that I can borrow around 6.5 times my annual salary, and whilst I don't need this quantity- being able to borrow between 5 and 5.5 times would be really useful and…
