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Mortgage with bad bad credit.
Hi folks, I'll try to shorten this a bit. Looking to buy our first home. I have an income of 25k and the wife is 12k. Private renting for 4 years at £600. I had a car on finance when I was 18which I couldn't afford to pay and didn't pay after 2 years. Went through a rough patch. So this is on my credit report as having…
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Raising money for business / semi commercial premise
Hello, please could someone assist and offer advice? I would like to purchase a local business complete with premise. The ground floor is for the business with a flat above. I have a house which is rented out and mortgaged with around 120k / 75% ltv. I also have my own house which is mortgage free following years of hard…
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Switching mortgage - newby question!
Hi there, my wife and I are on a 5-year-fixed with Leeds which we took out when we bought our first property. However, this comes to an end soon and we'll transfer to their standard variable rate of 5.44% - this will result in an increase of our monthly payments. Leeds has mentioned that we could speak to customer service…
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Poor Credit Score & Self Employed - First Time Buyers
My girlfriend and I are looking to buy our first property. I am self-employed and have been since March of this year. She has a full time job and a decent salary but defaulted on 2 credit cards in the past and therefore has a bad credit rating and score. (502 on Noddle) - Defaulted in 2013 and 2014 What should we do to…
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Mortgage broker questions
Hi I have recently come out of a DMP and after receiving helpful advice on this forum a few months ago I've decided a broker is the way to go. I have a few questions though:* Is there a difference between a mortgage adviser and broker or are they just two different names for the same thing? * On unbiased.co.uk is there any…
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Wait for TA6 before mortgage application?
Hi, We're in the process of purchasing a house, but we were the vendor's fallback option as the other buyers pulled out 4 weeks into the purchase (the real reason I will never know for sure, but the EA reckons it's because their in-laws decided to move to a property across the road!). Given the dubious circumstances I'll…
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Natwest Mortgage refusal
Can anyone help me. I was approved for a mortgage with Natwest for £124000. The house fell through but I was able to gain another property and only needed £112000 (£12000 less). Natwest then refused the mortgage. No reason given apart from I failed their check for the 2nd application. There was no change to my credit…
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Re-mortgage or wait?
Hi All, new to the forum and after some general advice. Few details - House Value £110k, Mortgage £76k The deal I currently have with Santander ends in October, so in theory could start the process of re-mortgaging now We are about to put our house on the market as we are expecting and need to get a bigger house. The…
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Building insurance
I have applied for a mortgage with the Coventry BS, I will need buildings insurance. Can I get it before I sign on the dotted line? I am thinking about getting a lodger in the future, but think it best not to mention it, at this stage. Perhaps if I got a standard insurance, just before I sign up, and then get in touch with…
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Remortgaging after divorce
Hi, We have divorced a few months ago. My ex-wife and my two daughters still live in the house I bought about ten years ago. I live somewhere else but I still come every other weekend to spend some time with my daughters. We don't have any formal agreement about this arrangement. I want to remortgage the house so I have a…
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Understanding remortgaging 2 mortgages.
Hi, Quick background - bought a house and got a Nationwide mortgage, then sold and bought a bigger house but wanted to keep our original NW mortgage as we were on the Base rate (rather than newer standard) could do unlimited overpayments and also had the savings pot / borrow back feature. NW told us we could port our…
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Broker and failed affordability check
Sorry for the long post but I need to decide how to handle a tricky situation and I don't want to drip-feed information. Would be very grateful for any quick advice. I applied for a mortgage with the Post Office (Bank of Ireland) via a fee-free broker. I have now found out that my advisor was taken ill shortly after…
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Mis-sold Mortgage
Hi there In 1999 myself and my partner bought our first house together. It was a new-build and we were advised by the builder to use their financial advisor. He visited on many occasions and persuaded us to use Bank of Ireland for our mortgage. It was not the cheapest option for us but we were made to feel that all other…
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Is life assurance required before exchange?
As the title say. I thought this is not compulsory until I got an email from my broker saying Imust have it sorted before exchange as solicitors would need to know my arrangements. Any comments please?
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Reclaim Mortgage Broker fees?
On the advice of MSE I used a Mortgage Broker 4 years ago to find the best deals for me for the future (19 years in total). Two years ago they arranged my next 2 year fixed but failed to do it in time so I paid over an extra £100 to go on standard rate for the first month, then onto the lower rate. They have not contacted…
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Overpay or save?
Hi all! I'm unexpectedly going to get some compensation money for an accident nearly 4 years ago (the other side have been fighting it. This accident caused 3 operations I wouldn't have otherwise needed) Now most of the money I'm going to be sensible with and use towards my saving for moving but I'm undecided on whether to…
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FTB- Natwest questioning deposit money
Hello, has any one else had issues with Natwest asking for more documentation because they are struggling to see where we got our money for our deposit from. We have literally given them every bank statment possible at this point which shows all our incomes and traces back to early 2016. We have saved a lot of money in a…
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Overpayment options...
Hi So I am trying to decide what to do with my situation. Flat A where I live outstanding about 50k Flat B buy to let outstanding about 100k I have rainy day funds seperate from this. Flat A mortgage is up for renewal now Flat B renewed next August So I have about 10k now and should have some more disposable income soon.…
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Letting the property
hi, why do Mortgage advisers ask if I`ll let the property at the moment or in the future? let's say I buy a house today, then three years later decided to let the ground floor? do I get trouble with the lender or HMRC? assuming that I still pay the mortgage after 3 years. and any difference between letting a floor or a…
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surrendering endowment and TAX
i am unclear about the tax rules concerning surrendering my endowment.... years ago i changed my endowment mortgage to a repayment but kept the endowment running, however it has now got to the stage where my cash in value will virtually clear my mortgage.... its was taken out in 1999 and finishes 2024.... whilst its less…
