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House down valued.
We put in an offer of 96k on a house on the market for 100k which was accepted, it'll be our first house. The mortgage valuation has taken place, and they're saying its only worth 90k. As i understand it, our options are to find the extra £5-6k ourselves (no), or offer the vendors the 90k, which i assume they'll say no to.…
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HSBC Re-mortgage - Surveyor Panel?
Hi, I'm scared and panicking and looking for urgent help I recently spent quite a bit of cash on a double extension (adding 2 new bedrooms and lounge diner) The plan was to re-mortgage once the work was done, to pay off the loan I needed to (part) pay for the work. The valuation came back and it has added buttons to the…
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with profits and unit linked
Are there any similarities between with profits or unit linked insurance policy?
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Completion Process
Hello, We are due to complete on our purchase this Friday, and have already requested the funds from our lending bank (means some extra interest, but worth it for the piece of mind to be honest). We had issues at exchange where certain members of the chain couldn't be contacted, and therefore couldn't give their…
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Santander remortgage
Hi, my fixed rate ends in April. I've phoned Santander and I'm elligible to "lock in" a new fixed rate now for when my current one ends. I'm looking for another 2yr fix. They are quoting me at 70% ltv 1.74% with a fee of £995 monthly payment of £583 1.99 with no fee monthly payment of £595 When I look on the best buys bit…
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Is overdraft charge likely to mess up remortgage?
We're due to come out of my first mortage fixed rate deal 28th February 2017. Up until a few months ago, I'd been living in my overdraft because of getting married, buying furniture etc but I'd been slowly paying it off. Wife suggested just giving me the money from her savings which meant the overdraft was cleared by end…
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Bad credit check advice
Hi, I am trying to get a mortgage with my partner. We went in to get it all signed up but the credit check came back as a NO!. On further analysis it was due to an unknown outstanding bill with EE. It was after my partner finished her contract early. They had an £80 buy out but she did not know or have any correspondence.…
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credit card debt and mortage app
Hi, What impact does credit card debt have on the ability to secure a mortgage if.... the applicant is within affordability with the CC debt taken into account They have a good payment history with no late payments Would a high CC debt of 30K be enough to scupper the application, even if on paper it was affordable and the…
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Remortgaging in different name only - Need some advise.
Hi everyone, Our mortgage term is coming to an end in a few months but it was an interest only mortgage in me and my wife's name. We are currently not in a position to remortgage as I have a not so good credit history, or pay off the £50,000 that will be owed. Will it be okay for my son, who lives with us, to apply for a…
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Maximum age to get a mortgage
Hi, I would like to get a mortgage (I don't currently have one) but I'm 50 and slightly worried I'll be too old for a mortgage to run full term. I'm self employed and don't actually plan on retiring but I'm sure the lender won't see it the same way. My credit score isn't great and I've taken on some credit to try and…
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Will I be able to borrow?
Hi all I am wondering if anyone out there has any advice. I would like to borrow up to £15k to carry out some home improvements, (new roof to existing extension over bathroom, very small new extension, new roof to existing kitchen and extension), all of which are necessary to keep the house in good repair. I got my…
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A Tricky One
My GF has decided on a new build local to where she currently lives, she is a first time buyer. She will be applying for the HTB Equity Loan but has already passed the affordability checks done by Metro Finance and has a MIP from Halifax. She has reserved a plot, but not left a deposit as the HTB application for the build…
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Good deliemma to have
All those 7 day a week slog paid off. Sold business. Net saving after tax £119k. Current mortgage 92k. Property value : £260k. Current rate 2.99% fixed till Nov 19. Currently employed combined with wife savings of £2k per month,if mortgage paid off. Market conditions horrible so will not invest in another business. Shall I…
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Remortgaging advice needed
Hello just seeking a bit of advise We are currently in a 2 yr fixed term mortgage with HSBC at 3.8% interest, house value £174,000 and remaining mortgage once fix term has ended will be £135,000 when we applied for the mortgage our circumstances were, both permanent contracts - my salary £22,500 partners £21,000. We are…
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Can I use the difference between past and current value of the property as deposit ?
Hi I would like to ask if someone has any knowledge if below scenario will be possible to do. I live in the property which is on interest only mortgage from 2005 - value of the property at that time was 150K. Current value of the property is 200K Im able to buy a property worth 200K only if I have 50K deposit. My question…
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Halifax mortgage offer - incorrect lease length
We got our mortgage offer documents from Halifax yesterday through our mortgage broker. The offer document refers to a lease remaining of 243 years whereas there is only 143 years left according to both the freeholder and the Land Registry. We pointed this out to our independent mortgage advisor and he said the lease…
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Remortgage/Change Product Situation Change
Hi, I'll try and keep this short. I need some advice, please. I bought my first home just under 2 years ago for £250,000. My loan was £210,000. I was made redundant 5 months ago and still haven't managed to find a job. I used to earn a good salary, hence why I was able to borrow so much from the bank (Halifax). The problem…
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Help to buy - higher than 5% deposit
Hi Does anyone know if you can put in more than 5% when using the help to buy equity scheme and still use the 20% loan? We can afford to put in 10% ourselves but would still need the 20% to be accepted for the mortgage affordability, and everything I've found online says a deposit "up to 25%" which implies to me that the…
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No consent to Let Nightmare!!!
Hope some on hear can help - finally. In 2007 i purchased a property for £89,000 through Northern Rock with a 110% mortgage. Since 2010 I have been forced to rent the property out due to a growing family - wife, dog, kids etc! I currently owe £81,500 and the propertys value is somewhere around £65,000 mark :( As there is…
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1st time buyer
Hi Looking to buy my first home with 5% down. Having spoke to my bank i have decided on fixed rate rather than tracker but i'm now totally confused is whether to go 2 year fixed or 5 year fixed. What are thoughts in regard to how interest rates will be with trump and brexit. Unfortunately bank cant give an opinion on what…
