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Borrowing more on my mortgage
Hi folks - I'm obviously going to have a chat with my bank about the specifics of this but just wanted some first impressions off here. My flat has increased a bit in value since I bought it last year (according to a recent estate agent valuation) + I've paid a few grand off my mortgage, leaving me with about 24% equity. I…
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We're in :):)
Moved in over the weekend From mortgage application date 8th November, we were able to move in in just 2 months (with a few weeks of anxiety and panic in between) TBF it was a new build and shared ownership so we were v lucky If anyone is going through similar please ask any questions :)
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New build cons ?
Just having a quick read around in the forum. It seems as if new builds are more riskier for lenders to lend money against. Is this true and if so what is the reason? I.e Materials used ? History of the development as apposed to older homes ? I was also assuming that new builds may depreciate in value due to the loss of…
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Finding MA job
Okay guys Never worked in the mortgage industry. I worked in IT before. I have achieved my cemap qualification (must admit is was difficult) for a career change. I've done some basic banking jobs recently. I'm finding it hard to land in a mortgage advisor role due to lack of experience . What will be your top tips for me…
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lump sum payment - am I missing something?!
Hello, I'm just confused with this so can I ask for your opinion, please? My mortgage is £147k over 21 years @ 2.49%, currently paying £760/month. I can overpay 10% without a penalty until my end of 2 year fix term. I have £7600 and if I'm going to pay it now, I can't figure out how much would I save... A basic calculation…
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Help to buy remortgage Santander problem
Hi, We have a help to buy (equity loan) mortgage with Santander on a 5 year fixed rate. We have been overpaying the mortgage with a view to remortgaging after the 5 years and releasing equity to pay off our help to buy loan. We have been looking at our options for getting out of the 5 year fixed mortgage deal early to pay…
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Mortgage application (to move house) with low credit score
Hi all Myself and my husband are looking to move house and have a DiP from hsbc for more than we need. My husband credit score and history is brilliant. I looked at my credit report and I have a default from Jan 2015 for £12 (this was a mobile phone contract that ended and they told me I owed them £12 even though I'd paid…
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What happens to overpayments at end of deal?
Hi all First time I've been in this situation, a 5 year fixed ends in a few months with NW and I wondered what happens to the over payments when I remortgage? There was a flexible clause in the mortgage which allowed for up to 500 a month over payments and that if over paid I could then underpay if I wanted. Can I get the…
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Getting a mortgage after returning to the UK
Hi, my partner and I returned to the UK in September last year having had a year working abroad. We are looking to get a mortgage in the near future. Would the year abroad affect our chances of getting a mortgage? Some places say you have to have been a UK resident for 12 months before they will consider you
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Nationwide and loan
Hi, We are planning to move in the next few months but had some questions regarding the mortgage amount that might be lent to us. Using all the calculators we can easily get what we want, however we do have a £9.000 left on a personal loan that we took out for home improvements/wedding last year. We will pay this off with…
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Halifax - Shared Ownership with bankruptcy
Bit of a shot in the dark I suppose, and suspect the answer may well be no..... but I've seen many examples of "discharged over 3 years" for any form of mortgage lending. There are a couple of lenders that appear to accept immediate discharged, subject to high deposit (as expected) but they won't offer Shared Ownership -…
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Gifting a property
I co-own my property. Me and the other owner would like to give the property to my daughter and then remain living in it. I don't know how to go about this though... Money is tight and I was wondering if there was a way to give the property over easily and cheaply. Also I don't know what the difference would be if gifting…
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Confusing situation!
So I had my DIP done by a broker last week and have been accepted by Natwest. However, I am still in my probationary period at work and will be until March. My DIP application states I have been working there since September but NatWest have accepted. But online, I'm seeing numerous reports saying that NatWest will not…
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Buying out rent charges - Good Idea
We pay £15 a year Rent Charges on the property that we own. We have been contacted by lawyers saying that we have the option to buy out rent charges for a one off payment of £267. Any advice as to whether this is worth doing gratefully appreciated. Thanks
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New Build Mortgage, not help to buy
Hi, Was hoping for some advice as have read so many contradicting things online. I am looking to buy a new build property in the next few months at £145k. I will have a 20k deposit. I was going to get a mortgage with my bank HSBC, however they ask for a minimum 25k deposit. Are all banks the same? As for example on the…
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Fixed Term Ending/ Need to Renew Leasehold
Hi all, We're coming up on two years in our flat in London (which I still call our 'new' flat - where has that time gone?!) and so the end of our Fixed Rate Mortgage with Natwest. We're somewhere around the 2.2.% mark and having had a very cursory look around, we can now do better (I remember our mortgage broker saying he…
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Question For Advisors/Brokers/AR's
Quick question for advisors/brokers out there do any of you used vouched for or other such sites? If so what would you say were the best most cost effective ones to use? If any of you are AR's have you found it an issue to the network to use such sites? TIA.
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Exploring buying another property. How much can I borrow taking into account costs?
Hi, I am exploring the idea of buying another property (UK), one I would live in. I will be living in both properties (splitting my time for work). Is there a website that can help me calculate realistically how much I can borrow and take into account my existing costs?
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Main things that could scupper a mortgage application?
I had my DIP accepted this week by NatWest and will be doing the full mortgage application in a couple of weeks. Just wanted to know what are the main things that could lead to a rejection now? Is it more about whether your financial situation changes (job change, new loan etc) and whether they discover you have…
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Lump sum payment - Nat West
Hi All, I'm looking for some advice, We're about to receive £132,000 from an insurance policy for critical illness. I want to use it to pay a lump sum off our mortgage with a view to bringing our monthly payments down so that each month we can live without worrying about paying bills etc. Frustratingly we've only just…
