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Mortgage advice please!
Off to see a mortgage broker this week but wanted to get the thoughts of other MSE's prior to this so here goes: I've come to the end of my fixed rate so time to strike a new deal. I am currently on an interest only mortgage, £132000 and make regular over payments in order to pay the capital during my mortgage term. My…
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Northern Rock - 'right to consolidate'
I have 4 buy to let houses mortgaged with Northern Rock (and 1 with bank of Ireland). One became empty and I decided to sell. I bought it in 2006 for £90,500, putting a £10,000 deposit down. I have sold for £90000, £500 less than I bought it for, so will get back about £7,800 of my deposit once estate agent and solicitors…
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Buy to Let mortgage advice
Hi. I currently have a flat which has sat empty for over a year up in Nottingham. I'm now based in London and I'm renting down here as it's too expensive to buy. I want to put my Nottingham flat on a buy-to-let mortgage, rent it out, rather than it being sat empty. Does anyone know if I can have a buy-to-let mortgage as my…
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Precise mortgage overdraft
Hi, We have had a DIP for our mortgage through precise. We are just submitting all our stuff one of them being 3 months bank statements. Been reading up on internet and a little concerned. My partner has a £1000 arranged overdraft which when he gets paid comes out of it however then uses it throughout month. Will this have…
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Mortgage borrowing amount
# We are looking to move to a larger property, all the calculators online seem to indicate initially we could borrow around £135k max however when I have completed an AIP its come back at a maximum of £100,000 with my current lenders Barclays and £109,000 with Yorkshire bank. I presume us having 3 children is making the…
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Adding partner to mortgage due to going self employed
I know there have been previous posts very similar to this but they are now a little out of date and don't completely answer my query so any help is appreciated. Ive had a sole mortgage for 7 years, have good credit and just over 50% equity in the house. My current fixed deal ends in Oct 2018 (I know I have some time yet!)…
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Self cert or similar mortgage
Hi, We are looking to move house. The loan that we require is 30% loan to value and we are looking to buy a property that is the same value as our own.. Being self employed we are struggling to find a self cert mortgage. Has anyone been a similar position? Any ideas of any lender an this country or in Europe that could…
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Getting a mortgage straight after travelling
I want to go travelling for six months from Oct 2018 to March 2019. I have lived in the same rented property, through a private landlord, since 2012. I've decided that as soon as I come back from travelling, I want to start viewing properties in order to buy a house. I owned a house from 2003 to March 2017 so I have an…
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Help to buy ISA bonus when adding partner to mortgage
If my partner has a H2B ISA can the bonus be claimed when adding them to my mortage and/or title, ie an equity transfer? My research says that we would be liable for stamp duty if sufficient equity is transferred, which intuitively to me says that the H2B bonus should be applicable, however I can't find a concrete answer.…
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URGENT London and Country
Hi all We submitted our mortgage application with London and Country (Santander) around 3 weeks ago, We got an email the week after saying valuation on Monday 15th May. Last week EA asked us how the valuation went but we haven't heard anything yet. I rang up our case manager and he said oh Santander want some extra…
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Mortgage fears
Hi All, Too put a long story short I have 3 defaults on my record, 1 is with capital one for £220, which was August 2012, the other is £300 ish around May 2014 and the big one which is Lloyds which was May 2013 and £2400. All are finished, Lloyds was cleared in August 2015, the cap one was cleared in around 2016 (i kept…
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mortgage for tier 2 visa holder?
Hello, just wanted to have an update on the situation wrt Tier 2 visa holders looking to buy... I've been in the country since October 2016, and I have until October 2018 for my current Visa, but I am also 100% certain I will be offered another 2-year contract. Unfortunately I'm a poor scientist (i.e. salary under 35k per…
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Calling MA for update ?
Hi Guys do you guys call your MA to find out if anything has happened .. I applied last Tuesday and she called Thursday to say it was in a que at the underwriters .. do you think its worth me giving her a call today ? Thanks Lisa x
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Aldermore - chances of getting a mortgage?
Hi there, so following on from my previous post on this thread, after getting our agreement in principle from Santander they turned us down for a mortgage so our broker has suggested Aldermore. We were given an agreement in principle on Friday and send all docs over saturday morning including our P60's. I've noticed this…
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Threat of redundancy and moving house
Hi, I have the potential threat of a redundancy notice being given to me in 3-4 weeks time. How will this affect my mortgage offer? I am concerned about losing my deposit if I am that far into a house exchange. So far I have my house on the market and am waiting for a buyer. I should get an ok redundancy payment, but…
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Interest Only mortgage with no early redemption charges
We are looking to buy a plot of land and build a house on it. As we have a lot of equity in our current house and are not planning to sell our house until the new house is ready to move in we are thinking of remortgaging our current house to pay for at least the cost of the land. To keep monthly costs down, looking at an…
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Should I be getting a second opinion on what my broker advises?
We're about to apply for our first mortgage. It's a joint application, where one of us is self employed and counts as a 'sole trader'. Our 'whole of market' broker has recommended Halifax, a 2 year fixed rate at 2.69%, 35 year term. He says Halifax are flexible, and are a preferred lender for self employed people. We…
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Changing loan + impact on mortgage application
The usual advice is not to take out a new (unsecured) loan before applying for a mortgage. I'd be looking to apply for a mortgage in 6-12 months. So the question is, given I have a loan with 2-3 years left at 7%, I could potentially save by moving it into a new loan with another provider at 3% for its remaining years.…
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Possible mid sold mortgage?
Hi, took out a ten year fixed mortgage in 2008 with Halifax. Fixed at 6.7% interest only (It seemed like a good idea at the time) After three years I called Halifax to ask how much it would cost to get out of the fixed rate. They said something along the lines of £5000. Which I couldn't afford at the time. In 2014 I phoned…
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Buildings insurance for ex local authority flat
Received our mortgage offer last Thursday from Natwest! Has been a bumpy ride including a job change less than a month after initial application but Natwest are still happy to lend despite still being in probation period. :beer: The flat that we are buying is an ELA in London and half of the block are still occupied by…