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Shared ownership: Flat won't sell - buy 100% - remortgage or let it out?
It's a bit complicated so I'm wondering if I need to see a mortgage advisor but thought I'd ask here first :) I moved out of my flat two years ago to be closer to family after having a baby. We are renting elsewhere and the cost of paying mortgage on one property and rent on another (plus the associated council tax etc) is…
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Thinking of buying our council house.
We were very lucky long time ago to get a council property to rent, we have moved from a 1 bed flat to a 2 bed house. We could really do with a 3 bed after we have had our 2 child, we have a boy and a girl. With the current council rules they can share a room till our oldest is X age, before they can offer us a bigger…
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Mortgage take into account LTV or just salary ?
Hi my situation is I have a proper worth £500,000 mortgage free, I wish to move to a property on sale for £800,000. We have a deposit of about £50,000 Stamp duty and moving costs will be in the region of about £35,000 This leaves us needing a mortgage in the region of about 280,000. I earn 45,000 and my wife works part…
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When do you need to have the deposit?
Hi, We are going to be reserving a new build property in the next week or so, this has come around a little bit sooner than we thought and so we are about 3/4K off having a 15% deposit. We don't want to go down the help to buy route. I guess my question is, when do you actually need to have all of the funds for the 15%…
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Nationwide affordability calculator
Hi, I'm trying to get my head around the Nationwide calculators, does anyone know if the affordability calculator incorporates a stress test? "How much you can borrow calculator" says £336k, monthly repayments on £330k states £1400 approx leaving over £3000 left for bills and yet affordability calculator says no can only…
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Get a Mortgage with CCJs??
I have 3 CCJs which are 5 years old that occurred during my divorce. The CCJs relate to a property that was awarded by the court to my ex-wife. What are the chances for getting a mortgage with 3 CCJs? I have been told that i have no chance of getting a mortgage if i have any CCJs. I only have a £10K deposit.
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HSBC switching product experience
Hi All, 2 years ago I was a FTB and going through the process of applying to HSBC for a mortgage. It was lot less painful than I had assumed at first and quicker. Now that we are coming to the end of our 2 year deal in September this year, i wanted to find out and prepare as much as I can before re-mortgaging or switching…
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Shared ownership - chances of acceptance
Hello I'm hoping that somebody on here may be able to offer their opinion to stop me from going crazy! Me and my girlfriend have found and been allocated a shared ownership house. Full value £395k, of which we are looking to take a 25% share of £98750. We have a 10% deposit saved up and about an additional £3k to cover…
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Sorry, another "what are are chances?"
This is one for the brokers, sorry to ask this again, but trying to find out if there is realistically any hope on this, as we are looking to move in a year's time. I'm currently on maternity leave due to go back in October full time. We are looking to purchase a 3/4 bed house, unfortunately we live in a fairly expensive…
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Mortgage misselling
Hello Wondered if anybody could advise me about this. We went through a bad time in the 1990s, got into financial difficulties and remortgaged the house. After a short time the same difficulties presented again and like magic we received a phone call offering to help us remortgage again. The same happened again and, stupid…
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Can we claim back our mortgage broker fees?
Hi all We applied for a mortgage last week which unfortunately has come back declined despite having a mortgage in principle. At the time of applying we paid £500 fees to a mortgage broker. Can we claim the fees back? No mortgage has been taken out and we are still within 14 days. Is there a cooling off period? Thanks
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Chance of mortgage being accepted?
Dear all I did post the other day for something else, but just wanted to see opinions on the above deal im applying for (approved in principle this week). As I am borrowing almost x5 my income, is there any risk of being rejected based on affordability? Even though the repayment is only £910pm and my take home is 3.2k.…
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shared ownership remortgaging
Hi all. Looking for advice from people who have been through this already as I am collecting general information on shared ownership remortgaging in preparation for the situation a few months down the line - our initial 2 year fixed is expiring and SVR is not great. When we bought we had a severe limit on lenders due to…
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Buy to let joint mortgage sole name
Hi Just after advice. My girlfriend is moving in with me and I'm buying my house. She's lived in a council house for fifteen years and someone said we should buy it as an investment. The house would have to bought in her name but shes doesn't earn anywhere near enough to get a mortgage. Could we get a joint buy to let…
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Adverse Credit
Hi All, I am new to this. Is there any brokers out there that will specialise in finding me a mortgage with adverse credit. Background info - 55LTV Applied to Halifax and Natiowide direct to be turned down. Had 3 missed payments on current mortgage in Jul, Aug, Sept 2015 - as soon as I realised paid all upto date October…
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Standard Life Endowment
Hi, Me and my ex partner took out a Standard life with profits Endowment in 1990 at £33 per month to cover our £25,000 mortgage,in 2012 we went through a torrid year and split and reluctantly had to sell the endowment,a so called friend offered £400 more than anyone we could find and promised us a sum of money when it…
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Help to Buy Equity Loan
Hello, Does anyone know how long the help to buy equity loan takes to transfer? My developer received the CTD last Thursday and now we're waiting for the funds to appear. Thanks Sam.
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Nationwide product switch - LTV calculation
Hi, The 2 year fix on my Nationwide mortgage is about to end in a few months and I'm looking to switch products and stay with them on another 2 year fix. I have a bit of leeway with respect to how much I can overpay before the current fix ends and so want to try and get below 70% LTV when I fix again, if that is indeed…
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Will loan taken out by son at same address affect mortgage offer?
Parents and son live in a house, no mortgage on the house. Same mailing address for everyone. Parents own the old house and are buying and moving to another house and has a mortgage offer from Nationwide. Old house is not being sold. Son will be staying at the old house after parents moves out. If the son wants to take out…
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Postoffice / Bank of Ireland decline
Hi, I've recently stuck an offer in on a house which I had a mortgage in principal with from the Bank of Scotland (the bank i've used for 10 years). I went into them to get a mortgage application going and got to the final stages where they said they'd offer me 3.5%. I said no to myself, that's too much. Went to a mortgage…
