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Renting house, releasing equity & investing in extending my mum's house
Hi everyone, I'm a self-employed single mum and currently live in a house I own with a Halifax mortgage of approx £145,000. House is worth £400,000. I am thinking about moving my daughter and I in with my mum to ease the financial burden of paying the mortgage and all the bills by myself, have my mums' company and to help…
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Mortgage Planning
Hello, I plan in about 2 and a half years time to have apply for a mortgage. I have one default that is satisfied 5 years ago and will be gone in May 2017. About 3k of CC debt which will be gone by April (started snowballing correctly) That is all my debt. My question really is when it comes to it how far back will lenders…
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Santander AIP Changed at Offer Stage
Hi Everyone Any thoughts on my situation? Raising £52250 deposit from our current home to buy a new residential home. Our current property will be let. The remortage for this gone through to offer stage in less than a week with Natwest (can't fault them!) however Santander have changed from lending us 115k (we only will…
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Wedding Payment/Gift may be seen as Gifted Deposit?
Greetings. My daughter is getting married June 2017; she has a wedding package - £10,560 total - and is paying in instalments. About £3K due this month (Nov 16). She is self-funding, in theory, but I plan to pay for the wedding. I've already transferred £560 (for the string quartet!). I had planned to give the £10K as a…
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Change of Employment Status After Exchange, Before Completion
I've gone anonymous for this post (due to paranoia!) but am otherwise a fairly regularly-contributing member of the forum so please don't think me a leach! Sorry in advance for the long post. I have a mortgage offer, am due to exchange next Wednesday and complete a fortnight after that. However, I'm growing increasingly…
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Halifax Mortgage Process
Hi All, We're looking at remortgaging with Halifax, this has been arranged by London & Country. We've had an AIP & they've asked for more info, like payslips & ID, which we've sent to them. Today we've received letters from Solex Legal services, asking us to return mortgage deed form & some other bits & pieces. Just…
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Annual Mortgage statement potentially changed balance outstanding?
Hello, I was wondering if anyone may be able to help me please? I've been trying to pay down my mortgage were possible since last December. My interest is calculated daily so I see the amount of interest paid each month reduce slightly. I have logged in online this morning so I can review and add to my spreadsheet the…
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Re-Mortgage for Extension?
Hi Everyone, Not sure this is the right place but I wanted to get some thoughts? When we purchased this house (with the banks money) we had low paid jobs and struggled, we took out a 40+ year mortgage at 7.9% and were locked in for 5 years or we had to pay thousands. Over those 5 years we paid off next to nothing (a few…
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Halifax with underwriters Time scale?
Hi I've had my AIP / DIP from halifax about 3 weeks now, via my broker i've put in full application. He said its now in processing, and with the underwriters. Does anyone know the timescale for the underwriters at present, i'm so anxious about this - didn't think i would be. argh!
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Home/Doorstep Credit - Impact on Mortgage Application
I have a number of Home Credit entries on my credit report for loans I had with Provident approx 3 years ago. Whilst expensive, these were convenient at the time and actually helped me straighten out some financial issues. These all have perfect payment records and this is reflected on my credit report. My question is…
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Final mortgage payment at point of sale
Hello all, I am selling my house and the sale is due to complete on Nov 25th. My mortgage payment would normally come out on 1st December and I assume I have been accumulating interest since my last payment on the 1st November. As the mortgage will be cleared before my next payment is due what will happen about the…
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Partial Re-Mortgage time
Hello All Frequent reader - first time poster here! Have taken many a tip from this site and now joining up I have a question which I figure people on here may have encountered before. We live in a semi detached purchased about 3 1/2 years ago for £250k (new build), prices have seen this raise to somewhere between £330k…
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Halifax Mortgage application
Hi Everybody! I wonder if anybody could give me any peace of mind. Me and my partner have applied through an MB for a Mortgage. He is self employed and I am employed full time with a combined income of 70K. With a large-ish deposit our LTV is 87% We were directed to Halifax by our MB as they tend to be slightly more…
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Credit Card Late Payments and Mortgage Application
Hello kind and helpful people of MSE. Hopefully a fairly straight forward one for you all on a cold Tuesday morning! The Girlfriend and I are looking to get a mortgage (I had planned to have applied by now), and I've got a question regarding 2 late payments my girlfriend had on her barclaycard this time last year. Our…
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Lender refuses to change mortgage during consent to let period
We recently rented out our main residence. We attained consent to let from the mortgage provider. The mortgage has now changed from fixed rate to variable rate (fixed rate term had ended). I submitted a request to change (remortgage) back to a fixed rate mortgage but this was refused. The reason was that they cannot…
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FTB debt/late payment/own bank or broker
Hi I am a first time buyer i have 5% deposit on £160k house, I will be applying for a mortgage in the next couple of months. I have a few questions if anyone can help I would appreciate it. I have one late payment on my credut file from 2011 which was on a Very catalogue credit account, the repayment was less than a month…
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Mortgage decline advice - any chance?
We've just had a mortgage declined and are completely at sea now. I've paid mortgage for last 15 years on property in my name and wanted to port it to new property with 10k on top. Plenty equity so deposit would be more than half the purchase price. They won't lend to me alone, as although amount would be similar per…
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How long after paying off cc before applying for mortgage
Hi me and my husband are looking to buy a house. Three weeks ago my husband put an offer in on a house which was accepted. He applied to satander directly for a sole mortgage. Because of debts they would only offer him 139, and we need 160. Husband then went to a estate agent mortgage advisor two week ago tomorrow.…
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Mortgages & Clearing Credit Card Debt
Hi All I have had a mortgage offer (yaay) with a condition that I must clear my credit card debt. I asked my solicitor who says written confirmation will be fine as evidence. I am a first time buyer, and whilst I do have the money to clear the credit cards, I would much rather spend it on furniture (of which I have none).…
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Mortgage refused on valuation
Hi, has anyone experienced being refused a mortgage based on the valuation? The property is a 6 bedroomed, 3 reception rooms, kitchen, and dining room. The area is predominantly terraced properties ranging from 2-4 bedrooms. The reason for the valuation being declined is that they believe there would be limited demand for…
