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Advice please
Hi Hope its in the right forum . My mother in law got divorced 9 years ago now & wasnt in the best place money wise so i helped her buy out her ex husband and we got a joint mortgage. She paid the majority of it and i helped out with the rest. Shes now retired and we were having problems with one thing or the other about…
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Mortgage renewal with a reduced income
I have recently purchased a property borrowing a mortgage of £160,000.00 from HSBC. It is a 2 year fixed mortgage at a rate of 1.79% for a term of 30 years. I currently have very low monthly repayments of around £500 p/m as I put down a very healthy 60% deposit when I bought the property. I am currently employed in a full…
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Complicated mortgage situation: would a broker be able to help?
Hi folks, Bit of a complex situation here, bear with me! Here's how it stands: 1. My husband and I own a home, with an interest-free loan from my (very kind) father. We've never had a mortgage at all before so feel a bit clueless. 2. Due to a move from South to North, we have a chunk of money in the bank; enough to…
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Help with early mortgage redemption?
Due to an inheritance which is anticipated during November we’ll be in a position to redeem our mortgage early. Our question is when’s the best to time pay it off at the lowest cost to us bearing in mind the following points. At present we have a Repayment Mortgage with approx. £66K outstanding over the remaining 6½ year…
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Changing a standard mortgage to a buy to let mortgage
Hi, Im hoping somebody can point me in the right direction?? Me and my husband are wanting to change our normal mortgage to a buy to let mortgage, is this possible or will we need to remortgage etc. I have no idea where to start with this one so any advice would be great. Thank you
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Multiple applicant mortgage
My wife and I are in our early 60's and have a mortgaged house with £175k equity and have a married daughter, son-in-law and 2 grandchildren who currently have a 2 bedroom shared ownership house with about £130k equity. Since they need a minimum 3 bedroom house and we will not be in a position to repay our mortgage anytime…
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Mortgage advice declined
Hi I am a first time buyer who recently applied for a mortgage with my partner we were subsequently declined we have had an offer accepted and I am so stressed by the whole situation. Property value : 67500 Deposit : 7000 My income : 29300 Experian score 693 Partners income 22700 Experian score 970/999 My debts : 18000…
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Mortgage Application
Hi guys I recently applied for a Mortgage and the survey/valuation came back ok. My LTV is 70% and I am a sole director of a limited company. The advisor contacted me and stated that the underwriters will only accept the Mortgage if I increase the deposit. This is because they have calculated the two year average income to…
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Should I overpay my mortgage if I plan on going into rented accommodation
I'm slightly confused about mortgage overpayments and hoping someone can answer me this... If I am planning on selling my home at some point within the next 2 years and will not be getting another mortgage am I still better of overpaying rather than saving the money instead?
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First time confused buyer!
Hi, me and my wife are planning to buy a house in 7-12 months. She has good credit with only a credit card and her car on finance. I on the other hand have poor credit due to 3 defaults now being paid on a dmp totalling £4000 when I ran into difficulty 3yrs ago. We're considering changing her car to a more suitable one so…
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Article 50 & Mortgage Renewal
Hi all, This question has probably been asked a few thousand times already but I thought I'd give it a shot. As we know, the wonderful and mysterious Article 50 will be triggered around the first quarter of 2017. Just my luck my fixed term period for the initial 2 years of my mortgage lands right after this in June. I'd…
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Overpay interest only or go to repayment
Our interest-only mortgage deal is ending soon and we are currently doing some home renovations. We always intended to change to repayment at the end of this deal, for peace of mind, but would we be better keeping at interest only and overpaying by up to the permitted 10%. This would give us flexibility if we need some…
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ERC Charges - Where do I stand?
Hello all, Just to provide a bit of context here: I started the process of selling my property to a friend a year ago, I knew there would be 4% of the remaining balance to pay as I would still be within my 4 year fixed rate product period which ends on the 30th of November 2016, I was fine with this as I was moving abroad…
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Clydesdale - Mortgage Process
Hello - I've currently got a FTB mortgage application in with Clydesdale (application submitted just over a week ago) and am anxiously waiting for any sign that my application is progressing. They've just asked for payment details for the valuation survey. Anyone know if this is a good sign (i.e. is it any indication that…
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Advice needed buying house from wife's brother over several years
Hi al just trying to get some initial info before we go to solicitors really. The situation is as follows, my wife's brother owns the old family home (having bought her and her brother out of there share when the estate was all sorted following there fathers death). He is now looking to sell and we would like to buy it off…
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Stamp duty on concessionary purchases
Hi, What are the rules regarding SDLT due on concessionary sales / inter-family sales, where the sale price is below market value? Do LTVs still have to be "properly" maintained, or does it differ from lender to lender? E.g. a property owned by parents with valuation of £1million, parents wish to sell to their child the…
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Help to buy ISA - Deposit issues
Hi all, my GF and i are currently saving for our first house and were counting on the 25% bonus from the Help to buy ISA scheme. Can anyone help me understand this article: http://www.telegraph.co.uk/personal-banking/savings/help-to-buy-isa-bonus-buyers-had-no-idea-it-wasnt-for-a-deposit/ From what i can see, it means…
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Building house across 2 title deeds and need mortgage
Hello, We are building a new property across 2 title deeds. When we acquired the old house on the land a portion of land right next to the original house we could not find the title deed for so we registered it with the land registry at the time. On one of the title deeds (for which we could not find the original title…
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Mortgage co asking for reason for outstanding loan
Hi all - Hope someone can help me be less paranoid :eek:. Out prospective mortgage company would like to know the reason I took out a 10K loan 3 years ago. I am worried in that I can't remember what the reason was (well I know I needed the money but can't remember if I told them it was for a car, building work etc). If I…
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Cheshire Mortgage Corporation, now Together Finance
Hi all. My partner and I are in the process of buying a property. We knew from the get go that we would be looking at sub-prime lenders. We've had an offer from Together (previously Cheshire Mortgage Corporation) which is a high rate of interest but payments are manageable. Our plan is to take this mortgage for 12-18…
