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Buying less than the market value - Advice please
Hi all. We rent a house currently and the owners are open to selling the house. We've had a quick estimate on the house and been told what a good offer would be, but also told what the house is ideally worth. I know at this stage that nothing is solid, but its a basis. My question is, lets say the house is worth £150k, and…
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Mortgage with new job in same company.
I have to apply for my mortgage next month (June) to confirm purchase of a new build home that I've already reserved, but according to most of the affordability calculators, my current salary showing on my payslips will be right on the limit for how much I need to borrow. It looks like I could be a couple of grand short.…
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Getting a mortgage with defaults
Hi all Want to hear from anyone who has managed to get a mortgage with settled defaults showing on their credit report. Paid but not yet dropped off. I have done a bit of research and saw that it is possible but with 15% deposit, does anyone know does it have to be 15% . I have 15% but ideally id like to put 10% down, just…
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Gifted deposit and Nationwide
I've recently applied to Nationwide via a broker as a sole applicant. My husband has not jointly applied after advice from my broker (due to his age). We are putting 40k deposit down (28%), however 35k has been gifted to me from my husband after he received inheritance. The remaining 5k I've saved over the past year…
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Help to Buy - Should I be concerned?
Hi, Myself and my partner have recently applied to Help to Buy; however, we have received the following response: "Unfortunately, the developer xxxx has no available funds for applications for their properties. They are required to update their forecast with the homes and communities agency. Once they receive notification…
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Forms of ID
I guess with paperless billing this gets harder. The only thing that I can find, for my Coventry BS mortgage application, is a £99 rent outstanding letter. I never not paid my rent, and at that time it was being paid by Direct Debit. Am I better to delay things and try to source something else? Do utility companies send a…
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Buy to let mortgages
Hi I have around a 30k deposit, I receive DLA benefit, as well as having around 3k a year income from a part time job, and another 6-7k of part time income from temporary work. The question I have to ask is, which banks if any will lend me a mortgage. Virgin Money asked for 25k minimum income which I doubt will get near…
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Advice on paying off my outstanding mortgage
I'm 62, working part time and am in receipt of pensions totalling £14k pa from previous employment.My wife works part-time too. I have very limited savings of around £6k. My outstanding interest only mortgage is around £42k, (at just above base rate) and I took out a private pension plan thirty years ago to which I'm still…
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Its all a bit of a mess
Hi Guys, Opinions and experiences sought please. Go easy on me, I'm fragile! My situation is that me and my newly Ex bought a house. The problem is that the relationship has now broken down. The finances are a mess and a lot to do with the house. Fixed rate mortgage to end of 2019. It is at this point that I need to…
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Buy To Let Mortgage on a Owned House
Hi, I'm after a bit of advise for this situation: I own a house with no mortgage which is currently being rented out. I want to raise some money to build an extension on my current residential house and plan to do this by releasing 20% of the equity in the house which is being rented out with a Buy-To-Let mortgage. First…
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HTB mortgage query
Hi, I wonder if anyone would be able to advise me on the following situation. My partner and I have recently secured a property via a holding deposit that we wish to purchase via HTB equity loan scheme. The property is priced at £300k and we have a 5% deposit. As we are more than 6 months from when the property will be…
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What would you do?
Hiya We agreed a sale with a buyer who was having a buy to let mortgage for her son to rent on the 25th April. We then agreed to buy another house a week later from a family member and had our valuation on the 19th May. I spoke to our buyer today as no valuation had been arranged and she said that she gave all of her…
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Buy-to-let mortgages - paying off? Interest only?
Hello, I have a couple of BTL mortgages and obviously in the past interest only made commercial sense. I also have some savings. Now that the tax advantages are being tapered down, how can I work out if it's more worthwhile to pay off part of the mortgage, and if so, how much? Obviously I get taxed on my savings as well as…
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Anyone heard of Household Mortgage Corporation?
Did anybody have a mortgage with household mortgage corporation? My wife and I are trying to find out who took then over in reference to asking them to write a letter for us to Scottish Widows as a disclaimer over an endowment we want to cash in which isn't linked to a mortgage any more. If any body as done this with the…
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Barclays Springboard Mortgage
Hi I was just wondering if anyone can give a bit of information as Barclays and their literature is about as useful as a chocolate teapot! My Husband and I (38yo and 34yo) met later on in life and due to our single circumstances have never saved for a deposit, and due to paying ridiculously high rental prices in the South…
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Do I have to get a mortgage to get a shared ownership property?
Hi, my partner and I have been looking into buying a property through the shared ownership scheme. However, his grandad proposed to lend us the money for the 45% that we want to buy, so we don't have to get a mortgage. We don't know if this is possible, we met all the criteria to buy a shared ownership property, but we…
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Finance Agreements before Mortgage Renewal
Morning all, Looking for a bit of advice/confirmation here. I'm due to re-mortgage at the end of this year (December/January) when I do I will be looking at renewing on a 15 year term with only a 35% LTV. Now I have heard it can be detrimental to take out a finance agreement within 6 months of a mortgage renewal? Basically…
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Which Lender
Hi I am using a mortgage to buy a property. It's the first time in around 15 years as I have bought flats with cash outright. I am however know looking to buy a family home with my partner. Our credit is not perfect but in terms of monetary scores Experian seems to give us each a higher one. Is there any lender that seems…
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Major works after RTB
Just needed some advise on where I stand. I brought my property under the RTB scheme in 2014, In the documentation was a part where as a leaseholder they had to notify me of any major works within the next 5 years and the cost to me. Here I am 2 1/2 years down the line and been sent a letter stating the lift is to be…
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Mortgage declined - address discrepancy
hi guys, Looking for some advise and information. Me and my spouse applied for a mortgage with Nationwide using a mortgage broker/company. We received a text on day of submission confirming that a mortgage product has been reserved for us. After not hearing any thing further for around 10 days or so, we noticed that…
