-
How terrible to take out a loan ahead of mortgage application?
Good evening! Long time reader, first time poster. Myself and my partner are looking to buy our first home in the new year - we have saved £30k and received a £20k gift from my mother so should have enough for a 20% deposit on a ~£200k house. I was advised I would be offered a company car so have been looking forward to…
-
Temporary contracts and heartbreak
Hi everyone, Me and my boyfriend have already got an AIP but that was with his old job. It's been a few months since then and now he has got a new job but it's only a temporary contract. He is earning double the wages per month he was in the last job but we just can't get a mortgage. Is there anyone out there that will…
-
Advice needed - HTB, HTB ISA and Remortgaging
I have a couple of questions surrounding Help to Buy Equity Loan, Remortgaging and the Help to Buy ISA I have a mortgage on a house (in my own name) along with a Help to Buy Loan. My wife has a Help to Buy ISA. I am planning on remortgaging in five years to consolidate the Help to Buy Loan. I was wondering if I would have…
-
additional borrowing from existing mortgage before appltying consent to let
Does anyone know how long I have to wait if I borrow additional money from existing mortgage today and then want to apply for a consent to let for the same property? The whole story is that I am trying to buy a property but falling short of a short amount. I have another 2 years left on the fixed rate term so I cannot…
-
Overseas property - am I a first time buyer?
Hi, If I own a property overseas does this count here in the uk, or am I still a first time buyer? Can anyone help?? Cheers
-
Mortgage with defaults - success stories?
We have an OK income but were not great with our finances until recently and have 2 defaults each. Total of about £6900. They are recent, only 1 year old but are nearly paid off. I know they will stay on file for 6 years but I'd like to know if anyone has successfully secured a mortgage with defaults? Many websites say its…
-
Right to buy
HI were going through a right to buy off the council, had a offer of £45000. whats the best type of mortgage to have over 10 years
-
Moving House & Job
Hi! My wife and I are moving from the Midlands down to Devon. I already have a job down there and have started. My wife currently works in the Midlands and our house is sold STC. Once we have purchased a house down south, the plan is for her to stay at her parents here for a bit until she finds a job down there and then…
-
Is it possible to get a mortgage?
Hi this is my first time posting on here so I hope somebody could help me please. We are hoping to get a mortgage. The house is worth £160000 We will have between £15000-£20000 deposit A joint income of about £30000 (hopefully more-depends what job I can get) My husband and I both have poor credit. We both have defaults…
-
Mortgage vs Loan
Hi guys, I hope you can help with a question relating to mortgages and a loan, and the most cost-effective way of paying them back. It's a brainteaser, and more of a logic puzzle than anything else. You'd settle an argument if anyone has a definitive answer! Please consider the following scenario (figures changed to avoid…
-
Mortgage Overpayment Query
Hi All, I am a first time buyer and have got a fixed term mortgage with Nationwide. I have saved some money and would like to make an overpayment of £5000 to my mortgage account. Nationwide gives me three options if I overpay- 1)Reduce Term 2) Reduce Monthly payment 3) Do neither and put the money into a pot, which would…
-
How long to receive written offer from lender
Hi, Can anyone tell me how long (roughly) it takes to receive a formal offer of mortgage from lender ? I had to drop in some addition salary confirmation over a week ago and I was told I would receive the offer letter within a week but I still haven't received anything. Not sure whether to view this as a good or bad thing…
-
Commercial or residential mortgage??
Hi, I'm looking at buying a business which is being run from home, so I'm basically buying a home and business. I'd need a mortgage but could pull together a reasonable deposit. What sort of mortgage would be best - commercial or residential? Thanks in advance for any response
-
Extra income in mortgage application
Hello, I would like to purchase a property in 2017 and will be a first time buyer. I am self employed and run a small business. I also have a company in a foreign country. I use profits from the foreign company to boost my income in the U.K. I would like to know if profits from the foreign country can be used in the…
-
Stress Test - 11% mortgage
Just wondering if anyone heard of this. We had the appointment with HSBC yesterday and nothing had changed with our salary and finances but now they are doing a "stress test" to see if applicants can cope if the mortgage rate increases to 11% (the mortgage rate they had agreed to offer us was 1.09% fixed for 2 years). So…
-
Leeds any reason not to apply direct?
Hello, Currently have a mortgage with Leeds for 5 years. We are looking to move house need to borrow more. Leeds have said If we take a new product with them we wont have to pay any penalties on the current product as less than 6 months left. We have found the Leeds mortgae we want. I am self employed, 6 years accounts.…
-
Mortgage with a Trust
I am a newbie, so apologies if I am posting here incorrectly. My aunt passed away recently and left her money (no property involved) in an Interest in Possession trust for my children who are aged 14 & 12 until they are 21. My mum and I are the trustees. I would like to buy a property for them with this money which we…
-
Low income IO with a large deposit
Hello, A friend of mine is looking to buy a house to flip (renovate & sell) but as he's on a low income he's asking for advice on how to approach the mortgage situation. He has a large deposit so will only need 40% LTV. The rough figures are below:- Salary 12K Deposit 75K House Price £125K Loan amount £50K I've checked a…
-
Buying house at reduced price
I am trying to buy my partners house at a much reduced price than its worth. It's approx 70% of its value. I will need a mortgage to cover this purchase but at present I don't have a deposit; it's tied up in other properties. I can easily afford the payments on a buy2let. The property is let and has long term tenants. I'm…
-
What happen if we are turned down for a mortgage?
Hi, I have a we queries and wondered if anyone would be able to help out. Currently the OH has a mortgage in his own name. He revently signed up for a new 2 year deal with his mortgage provider. Our circumstances have now changed and we would ideally like to move into a larger property. Bit of a background, I have made…
