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Mortgage - Re Mortgage
Hello Im looking for a bit of advice regarding a re mortgage first here is the situation, Remortgage available in 5 Months possible to secure a deal in 2 with the current lender "nationwide" House was brought 3 years ago for 110k with 10% deposit currently estimated to be worth 131k by Zoopla not including the money spent…
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Partner and I are breaking up
Hopefully this is the right section. Basically we are on a 2 year fixed which started this Feb after our last 2 years fixed rate with Accord Mortgages, we just switched products. Me and my girlfriend of 7 and a half years are breaking up, she is moving to Australia . It's on good terms (for now) and wondering what my…
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Reason for borrowing extra on a mortgage?
Hello all, I have a daft question, but one that I can't find an answer to anywhere. It’s to do with giving a reason for extra borrowing on a mortgage. I have had a brief conversation on the phone with my current mortgage supplier and in principle on affordability; they have said that the amount I wish to borrow could be…
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Increasing borrowing after mortgage offered
We've been offered an 85% LTV remortgage from the Halifax at 2.44% 2-year fixed, borrowing £204,000 on £240,000 valuation (current balance just over £190,000). The extra £14k ish is going into home improvements. The offer arrived on Saturday morning and on Saturday afternoon, we were told that we probably need a new flat…
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Can I do this with an offset mortgage?
So, I'm coming towards the end of my mortgage term with an outstanding balance of about £100k. I have more or less enough in savings (mostly in shares etc) that I could pay off the balance in full. However, is there anything that stops me from remortgaging with an offset mortage for the £100k and keeping it fully offset…
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Joint Mortgage after DMP
Hello, Ok so I am looking for some advice as I want to plan for the future and my lack of knowledge is stressing me out! I currently live with my boyfriend in his flat (which he bought 2 years ago) He has a perfect credit record. I on the other hand am currently on a DMP and have been for a year. The good news is that I…
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Mortgage down valuation- now need to pay more deposit ???
Hi there. I am looking for some advice. We have made an offer on a house which has been on the market for £132,000. We have offered the full asking price. I have been given a mortgage offer by Halifax- pending their surveyors report with an 85% LTV My mortgage advisor has contacted me to say that the house has only been…
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Remortgage question and what to do with lump sum.
Afternoon all, I've just found out that my Grandma is giving all us grand kids £2,500 and I'm in two minds what to do with it. I want to use it wisely. I'm 4 months deep into a 30 year mortgage on a 2 year fix. I was a first time buyer with only 5% deposit so my interest rate is pretty high and I plan on overpaying on my…
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Mortgage/Remortgage Questions
Hi all, I've been looking over the site and guides for a simple answer to this, but I'm still a bit confused. Essentially, I'd like to get a 95% mortgage in the near future. Once I've built up enough equity after 2-3 years (10%+), I would hope to remortgage to get a lower % deal. I'm confused as to what values I actually…
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Mortgage Help - Early Redemption
Hi everyone, We are struggling to understand the redemption figure on our mortgage; The mortgage was started 01/2016 for £49600 at a rate of 8.64% (Poor credit) for a 23 yr term. Our rate has now dropped to 7.1% (still extremely high). We are looking at selling our home and have asked for an early redemption figure. They…
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Woolwich - Mortgage Process
Hi, Is anyone familiar with Woolwich mortgage proccess? I have submitted my full application last week and got a text on Friday to say the valuation would be completed on the same day. My question is do they do valuation and underwriting at the same time or does the fact they order the valuation means they considering…
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Mortgage help - should I complete
After a recent insurance pay out we're in a position to pay off our mortgage but I don't know if it's worth it yet with the fees involved. When I log on to our mortgage providers website it says our balance is £97800. And that is over another 26 years roughly. We took the mortgage out in 2015 and fixed the payments for 5…
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Returning Home to UK from Ireland Can I get Mortgage
Hi I need some advice. Im returning to the UK from Ireland and need a mortgage as I've found a house that I know i need to live in. I've had uk employment while living in Ireland and have paid tax on this. Do you think I can still apply for a mortgage? I kept my UK bank account however I did have bad debt going back about…
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Mortgage Broker Has Me Worried
Hi, I'll try keep this basic... My mortgage broker has sourced a mortgage and after some confusions around being able to use my partners wage towards it (we cant apparently), the lender has said they will very probably lend me 162k. I need 161k. Aside from this being freakishly close, I am now very worried. In my opinion…
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Need to change mortgage quickly
I've realised for a while now that I am paying over the odds for our mortgage but just haven't had the time/effort to change it. I quickly need to change to a new mortgage which would save me loads. I'm paying about 4% at the moment on a one account. The one account has been excellent for its flexibility but I don't need…
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Mortgage application in - no fee paid on fixed rate deal - then interest rates drop
Hi Hopefully the title makes sense. We've applied for a fixed mortgage with Nationwide but not paid a product fee. I'm seeing that HSBC are now dropping their interest rates and was wondering, if Nationwide follow suit, when our mortgage starts, would the interest rate be at 2.79% as it is now/what it was when we applied…
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Keep our house and buy new home
We are exploring options of keeping our house and buying a 2nd home. The ideal situation would be to rent our home (currently valued about £625k), rentable value about £2000 and move to a new home, value about £750k my salary is £86k + £3k bonus. We have about £400k equity in our home with about £185k currently outstanding…
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FTB Mortgage and credit card debts
Hi I have found my first house £130,000 and it is a new build. I am going down the help to buy scheme route. Deposit 5% - £6500 in the bank Debts 13000 credit cards Salary £45k guaranteed with another £5k per year on top from adhoc work Spoke to mortgage advisor and he has told me the first application has been deferred…
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Re-mortgaging when Partner is Retired
Here’s my situation. Have a sum to pay on an interest-only mortgage, which is also offset. We’re paying it back over 8 years at too much per month. Our rate’s a bit higher than average, as usually happens with an offset apparently. Our equity’s high, over 60% of the house value. Since taking the mortgage out, my OH’s…
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Let to buy or sell and buy
Hello We have a house (value about £200k-£230k, mortgage £160k) which we now rent as we have moved to the other side of the country for work. We are paying £1000 in rent and looking a house prices slowing rising as the town has a massive build of new houses and people coming to live here. We want to live here long term. We…
