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Help to buy equity,loan not such a good idea?
I have a 60-80k deposit and can buy a house for up,to 300000 Given my big deposit I was womdering if it is better not to use help to buy Whilst a new home would be great you. Pay a premium for a new home and I would be concerned in the horsham area that the price rise over time could push the loan up in value quickly…
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Maternity allowance with applying for a mortgage (SA302)
My wife and I are hoping to move house in the next few months. My wife is self employed and last year sha had 9 months off maternity leave. Her self employed income was quite low because of this, but added with the maternity allowance money she got, it is a better figure on paper. I know she needs a SA302 form to prove her…
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Fixed rate soon ending - unsure what to do next
Hi all, we're currently in the last 3 months of a two-year fixed rate with Coventry BS at 3.49%. Paid 158k for our home and put down 10% deposit, have paid the expected monthly payments so far (£707) and will stand at around £135,000 remaining on the mortgage when the fixed term ends in three months. I know that we go onto…
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Early Maturity Plan
Hi 25 years ago we bought a new house when Endowment Mortgages were the thing. We took out an Early Maturity Plan over 25 years in which we paid an additional £5+ per month so that it could be cashed in when our earlier endowments matured and there would be enough to cover endowment target. We soon received Red Alerts from…
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2 mortgage products, 1 house. What would you do?
The background: Me and the OH live in our mortgaged home. When we bought it in 2012, we ported and existing mortgage and used a 3yr fixed rate further advance to purchase the house. The products were, and still are with Nationwide. After the 3 year fix, we product switched the further advance to a 5 year fix. The original…
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BTL Mortgage over 70
Hi all I've been lurking for a while on the forum and found lots of useful info so am hoping for some advice. * Looking for a BTL re-mortgage for a 71 year old (still working full-time, six figure income) * 48% LTV, interest only. Property is worth c. £250k, mortgage for £120k needed. Property rented out for £1100 pcm *…
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Repayment and Interest amounts
Hello, Long time reader/lurker first time poster. Apologies for the simple and probably stupid question however I'm a little confused about something: I read all the time that "In the first few years of the mortgage, you pay proportionally more interest, so the debt only reduces slowly" If / When you re-mortgage to a…
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Help To Buy equity loan Wales
I am looking in to applying for the Help to Buy equity Loan Wales, I’m a bit apprehensive as I don’t like the thought of the government owning 20% of my property. There is also the possibility of running the risk of negative equity. If I go ahead and take out the HTB my plan would be to have the loan for the 5 years…
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mortgage/equity/moving house question
hi all, We want to move house, I am hoping we can use the equity in our current house to use as a deposit but also to pay the moving fees and to pay off a loan we currently have (11k). We owe 72k on our current mortgage and the value of our house is £120k so am i right in assuming if we sell for near value of house we will…
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Extend term during fixed period
Will lenders typically allow you to extend the term of your mortgage (e.g. change a 25-year mortgage to a 30-year mortgage) during the initial fixed period?
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SA302 & TYO Halifax Confusion
We have applied for an advance and we are self-employed, everything is inorder except that they are saying SA302 & TYO are not matching the bottom figure. Got all our SA302 &TYO sent to us from HMRC. The SA302 shows the Tax at £8131.95 and in the TYO also shows Tax £8131.95 then goes on to show Less Payments £1830.15 final…
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Coventry BS particularly strict lenders?
I'm wanting to remortgage to consolidate unsecured debt and a bit extra for home improvements. Coventry BS look to have some good deals and looks like they allow debt consolidation. Are they particularly strict lenders. Has anyone had any experience of dealing with them? Thanks :)
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Borrowing money for house from parents
Hi all, bit of advice required! Looking to purchase a house soon, as am realising that paying rent is not actually going to get me any tangible asset at the end of it. On discussion, my parents have offered to lend me the rest of the money (aside from the deposit), and then for me to pay them back + a small interest…
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Bad Credit Morgage - Help to Buy
Hi All, Long time reader but don't post often, I'm hoping you can help. I'm looking for a help to buy Morgage with 5% deposit, cash is I think I have bad Credit. Full details below: (What are my chances) Mortgage Required - Help to Buy * Value: £200,000 * Deposit: £10,000 * Rent to Buy Loan: £40,000 * Amount to Mortgage:…
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Help to Buy Guarantee - Can I exit my mortgage deal if LTV changes?
Hi MSE Apologies if this has already been mentioned in the forums but I couldn't see this specific question. Now I realise that you can't remortgage in order to release equity from your property on the Help to Buy Guarantee scheme however I wondered if it should be possible for me to exit my current mortgage deal if I pay…
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Buying home from parents
Hi there I wonder if anyone can help, I am looking into getting a mortgage broker for a non standard mortgage set up but thought's I'd try getting some basic advice here first. The basic details are myself and wife are looking to purchase my fathers home possibly using a concessionary deposit. Our basic details are below…
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Should i stay (bmr) or should i fix now
As of 31st dec are mortgage was £32,008.11 and due to be paid in 6 years. We've been overpaying and today i upped our payments to £700 and was told it should be paid in 3 years 11 months. Is it worth coming off the nationwide 2.25% base rate and switching to there 2 year fix at 1.59% with no fees ? Or just carry on with…
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New mortgage after original paid off advice
We paid our mortgage off 6 months ago when we moved from one part of the country to another. However, we are now contemplating taking out a new mortgage to use for home improvement purposes. The LTV would be about 15%. This is not as straightforward as it seems though. I have a personal dire credit history as I am…
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New mortgage after original paid off advice
We paid our mortgage off 6 months ago when we moved from one part of the country to another. However, we are now contemplating taking out a new mortgage to use for home improvement purposes. The LTV would be about 15%. This is not as straightforward as it seems though. I have a personal dire credit history as I am…
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Mortgage and rates understanding
Hello everyone I recently got a PIP and have started looking at various mortgages with various banks online. My question is to help to understand what may be the best way to go with it. I have always wanted to get a fixed rate as I would feel better having a set rate for now. I have the following dummy example which I am…
