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Mortgage Equity
I am trying to use equity on my mortgage to clear debt. I have a property rented out. There is about £12000 left to pay on the mortgage and the property is worth in excess of £60000. I have tried to remortgage with my existing lender and they have turned me down. Saying that I don't fall within that lenders criteria for…
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Bank has added new charges for not having a current account
I dont post on here often, but I have a strange situation that I don't know how to resolve. I have a loan secured against a property with the spanish bank BBVA. The initial conditions for the loan were that I must have a current account with them and use it for the first 3 years, the loan term is 10 years. The money for…
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Removing current partner from mortgage
Hi, I currently am in a joint mortgage with my partner and have been trying to borrow an extra 30k for various home improvements etc. All was going well until my partner failed a credit check and that was the end of that. She doesn't contribute anything to the mortgage it is entirely from my wage, so the mortgage advisor…
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How much to overpay on mortage - maths question!
Hi, I am not great (rubbish) with maths and would appreciate some help if anyone can. I owe £112,719.67 on a BTL mortgage at 3.89% (ish) - it's up for renewal on 30 April 2017 - if I continue paying what I am - £850(including already a small OP) - then the balance on that date will be £109,800.00. I would like my total to…
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Finding a broker
Does anyone have any advice on finding a good broker? We may be leaning more towards sub prime but with more time given we may be able to go for a high street lender. I've googled mortgage brokers local to me but nothing stands out. Do they even need to be local to us, assuming everything can be done electronically? Should…
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Mortgage on land effecting property mortgage
Hi, I have a previous mortgage but for land. There isn't any property on the land and it is used for a caravan storage business. I don't pay any money into the mortgage because it's covered by the income from the business. I'm struggling to get any clear advice from the mortgage adviser and the bank the land mortgage is…
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Any chance of a mortgage/loan?
So, it looks like the sale of my home is about to fall through. Consequently, we will lose the chance to buy our next home. In truth, its not a disaster, we will still have a nice home to live in and enjoy. But, I was wondering, is there any realistic opportunity to use the (100%) equity in our current home, to apply for a…
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Mortgage term and overpayments. Any difference?
Hi. I'm coming to the end of my 5yr fixed term in January. I have made enough overpayments (First Direct), such that I can now take a 6 year repayment mortgage, with 5 years of that fixed interest, and my repayments will be the same as I am paying now. I am wondering, if I instead leave the term as it is (that is, it will…
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Precise Mortgages chances of success
Hi, Panicking about submitting full application as nervous that something is going to go wrong. I'm aware that each case is looked at on an individual basis but just wondered if anyone could offer any advice/thoughts on the chances of this application being successful. :) My husband and I have an AIP with precise Mortgages…
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Remortgaging - 2 Year/5 Year Fix or Something Different
Hi all, This is the first time I am looking to remortgage my house. I am looking to raise additional funds to for some housing improvements but have a few quick questions to ask if anyone can help. Current mortgage: - £113,000 remaining on 13 years - Interest rate of 4.79% (long story but parent was guarantor so this is…
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name on payslip
Hello! We have a problem here with my wife's payslips. We are unable to process our mortgage any further because on my wife's payslips her name appears different than it is in reality. Basically, last two letters of her last name are swapped. And the biggest trouble is that her workplace is in the middle of retailer…
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mortgage 2 incomes
Hi guys, does anyone have any advice on mortgages whereby me and my partner can use both our incomes but my partner just is the owner. Has anyone know which banks do this, are the rates the same etc. All advice will be appreciated Thanks
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Not paying mortgage broker fee?
I feel incredibly guilty here but the thought is going through my mind. Basically my broker has released the details of what my mortgage is and I've checked online and I can just apply for it myself. It was agreed in principal but I'm so tempted to save £495 and just apply myself even though it's incredibly scummy. Money…
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Buy First Home or Buy to Let
Hi, I am in the dilemma to figure out wich action would make more sense. Buy my First Home or rather keep renting and buy to let? Let's say we do not put much emphasis on the property's growing value as an expected benefit (we cannot really take it for granted) Scenario 1: If I take out mortgage for my first home: I will…
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Remortgaging - do I have to accept lender's valuation
Hello all, I'm really hoping someone can help me with this problem. I'm about to switch my mortgage deal as I'm nearing the end of my 2 year fixed term with Nationwide (2.79%), I'm sticking with Nationwide as they have some good deals on offer and I'm hopefully going to save a lot, however: they have told me that in order…
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Deposit Verification
Hi - Just sold my house and used the proceeds to wipe out my remaining debt. We are planning on buying a new build through the help to buy scheme and need 16.5k deposit. I can save around 13k but possibly the full 16.5 depending on work bonus etc in 6 months which is roughly when the new property is ready. If we do have a…
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Help to buy advice - not eligible
Hi first time poster so get easy on me. My partner and I spoke with a mortgage advisor as we want to buy a new build house. We were advised that we do not qualify as we can afford without as we have no out goings. Just a £40pm hire purchase for a sofa. We have credits cards but they are always clear. We own our cars…
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New build - increasing deposit after exchange?
We're looking to buy a new build, currently on waiting list. This will be off plan. Bit of background: We're first time buyers, both good credit scores. Deposit will be minimum 21% (depending on when plot is released + how much it will actually cost). I don't know if it's relevant but about 70% of the deposit is gifted…
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Chances of remorgaging?
I was wondering if anyone would give me some advice on my situation which is a bit complicated! My situation is as follows: I am 50 and want to raise £100 000 to carry out some home improvements on a house I own (it was my childhood home) and to help my partner with some debts he has. The house is currently rented out and…
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Would a 250k deposit outweigh poor credit history?
We are thinking of moving home and have around 250k in equity but we will struggle to secure a new mortgage under present circumstances. Would selling and releasing this equity as hard cash make any difference to how we proceed in terms of being able to offer ahuge deposit on a new place? Just wondering if having such a…
