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Time taken to get DIP?
Hi, We went to see our (third) broker on March 9th and left him with all paperwork:payslips, bank statements, credit report etc. We still haven't received a DIP. Is it normal to take this long? We have called and emailed and I finally got an email on Friday to say 'still chasing, will get back asap'. I've checked with the…
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Tools, Tricks & Advice For Comparing 2yr & 5yr Fixed term Mortgage.
Hi everyone, This is my first time getting a mortgage and I'm looking for tools I can use to compare fixed term mortgages. How do I decide on whether the 2yr is better for me than the 5yr in terms of cost and potential interest rate rises? I feel the rates will on average stay the same over the next 5yrs. .25% raise here…
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Early Repayment Charge?
Hi, looking for some advice. Currently on a fixed mortgage that has 2 more years on it at 4.14%. The ERC would cost us £5000 but interest rates are a lot lower now. My question is whether to stick with current mortgage deal and avoid ERC or to pay off mortgage with ERC so we can access better deals. Thanks!
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Dependents and mortgages
Hi everyone, It would be great if I can have some advice/people's experiences on how having kids/dependents affect the affordability calculations when applying for a mortgage please. Do all lenders reduce the amount you can borrow when you have kids? The reason I ask is I'm currently having a bit of a dilemma about how I…
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How much can I borrow?
My wife and I have very healthy credit files, zero financial commitments, etc. But the online 'how much can I borrow?' calculators vary wildly, and are obviously a 'best case' scenario. Are there any rules of thumb or places to go to find out what is actually likely? Without having a credit check on our credit files, that…
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Buy second house or overpay current?
I still have 29 years left on my first property I've had for a year which will be getting reduced when I over pay a bit and get a lower interest rate but I can now afford to pay a second mortgage and I'm thinking maybe buy to let or buy and rent current property out. Should I over pay my spare cash or is it a good idea to…
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Moving house & mortgage options...
Evening MSE. After a bit of a sense check on the following: GF and I bought house in April 2015 for £148,000. We took mortgage out with skipton with £15,000 deposit at 4.3% fixed for 5 years (3 years remaining). We fixed to ensure we had consistency in repayments and didn't envisage the fact that we would end up falling…
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Clear score new credit account to be added? Confused?
Hi there I have applied for a mortgage with principality over a week ago apparently it's still with the underwriter and has the valuation tuesday. I just logged onto clear score and it says I have one upcoming change to this section ( new credit account will be added) I haven't applied for anything else could this be the…
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Default and applying for mortgage next summer
Hi all, I believe this is my first post on these forums and i have been looking around MSE for a while now to try and help improve my credit file as i am looking to apply for a mortgage next summer 2018. My only concern and the thing i believe may affect my chances of obtaining a mortgage are the 3 defaults i have on file,…
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Anyone sold an endowment
I have decided to try and sell my endowment and pay of my mortgage. I am going to do it next month after the bonuses for last year are added. I have tested the water by getting quotes in the last few months and I have been offered nearly £1000 more for selling than surrendering- will easily cover my outstanding mortgage…
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Help to Buy Scotland with adverse credit
Hi Everyone, Looking for some advice. I am looking to get a mortgage but unfortunately I have some adverse credit, my most recent default was 2years ago. It seems like the only option to me is to save a 15% deposit and opt for a cheaper house. If I'm honest I'd rather opt for a new home and put only 5% down but this might…
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Repayment period
Just about to take out my first mortgage. When deciding on repayment periods i was all set on choosing 25 years. I can afford the repayments on that period and i know it saves me money in the long term. Is there any disadvantage to choosing a longer repayment period (say 30 years) but then overpaying to effectively bring…
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Helping my 67 yr old Mum get a mortgage (no equity)
I am looking for some advise in what feels like a helpless situation. My questions are: 1) Are we in a position to obtain some kind of bridging loan to enable us to buy and renovate a property to make a profit? This profit could then be equity/ deposit towards another property 2) Can we somehow use our financial situation…
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50% or 100% second job
Can someone clarify if the adverse credit mortgage brokers e.g. Alder more, precise accept 100% or 50% of a second income that's self employed/ltd company. Thanks
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Help needed please
Hi, I am new to this so please be gentle. My wife and I currently live in a property that is owned by my Mother in Law. We are looking to do some building work on the property that equals approx £80k. We are currently looking at options on how we can raise this money. As the property isn't in our names, we can't currently…
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Regulated BTL Lenders
Hello , can anyone tell me how many and which BTL lenders still offer regulated BTL mortgages for family members. Is there much difference in the rates. Many thanks
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CCJ and remortgage
Just after some advice on our options - we are due to remortgage in June as have been on a 2 year fixed deal. However since obtaining this mortgage my husband has gone and got himself a CCJ and 4 defaults. (Yes he is an idiot but had a gambling problem and is now getting help) I have no problems on my credit file or late…
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Which credit ref do First Direct Mortgages use?
Experian Equifax or Both
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Pay off a Buy to Let
I have 2 BTL properties. I have inherited some money which would allow me to pay one off. The current mortgage is just coming to an end on this property. I earn around £46000/year and another £15000 (before tax) from my BTL's. I have no mortgage on my own home. I intend to work for another 2 years after which I will no…
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Could this work for us??
This morning our broker emailed with 2 possible mortgage options, we are remortgaging to clear my 30k unsecured debt. This will leave about 20k of debt in wife's name however this is 0% so we are happy to continue paying this down. We have 1 recent late payment and our broker said that Halifax would be the most lenient…
