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Advice please - FTB Nationwide awaiting offer
Hi guys, I'm sure you're sick of me posting so much :rotfl: We had a DIP from Nationwide, all paperwork submitted, broker has just called us and said that Nationwide have contacted them and now are offering £4k less than had originally been agreed (on key facts etc) No mention of affordability (all paperwork matched the…
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Nationwide: still the most needlessly inefficient process!
I had completed the entire process to remortgage to FirstDirect. Then, unfortunately, my situation changed, and I now need a mortgage with no early repayment charge. Yes, I know about portability, but what I might need in my case is to sell the property without buying a new one straight away. Yes, I know I might let out my…
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Remortgaging aged 54 & 56, how long a term will we get.
Briefly, we owe 82K on an interest - only mortgage, currently just on variable rate, with 7 or 8 years to run. I'd like to switch to a fixed rate repayment, but obviously that would hit monthly payments quite significantly. So I though about increasing the term, ideally to 15 years, 12 at a push. What hope do we have of…
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Equity entitlement when separating
Dear MSE Forum members, Could I please ask for some advice. Sorry, its a bit long... My (now ex) partner and I bought a shared ownership house in January 2014. I put in a significant deposit (gifted mainly from family). He put in no deposit. We are both on the mortgage and pay equal amounts per month. I want to remain in…
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Lump sum payment when remortgaging
Guys, I guess linked to my previous question, however, if I have a lump sum available (say £20k), how would I go about paying this towards the mortgages 'between mortgages' so to speak? - It's the first time I've remortgaged so I don't really get this bit. And, if this 20k was basically doing nothing - would I be best to…
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Offset (and Scottish Widows)
Hey guys, A broker has recommended a mortgage to me, which has an offset facility. As I have some savings this looks like a handy addition. It seems that this mortgage *doesn't* allow for regular overpayments, just one lump sum per year. The question I have directly here: * If I were to 'overpay' the mortgage by 1k vs put…
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Decision in Principle
We're just about to start looking for houses, so have spoken to a mortgage broker (London & Country), and obtained a Decision in Principle from them (for our own piece of mind, as we're both first time buyers). I thought they would need to do a credit check for this, but they didn't need to. Is their decision in principle…
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Mortgage Enquiry
Hi all, Looking for some advice please. I have recently been contemplating studying a distance degree which would involve me going for a student loan. Rough figures would work out at £4,000 per year for a 3-year course and repayment of the loan would work out at around £30/month based on current earnings. Does anyone think…
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Effect of changing address when remortgaging
Hi all, I acquired my own house 5 months ago owning the freehold and now looking to remortgage the property, the thing is, i didn't bother changing my address with my bank nor register on the electoral roll with my new address as they were registered at my family address where i have resided the last 20 years. I have now…
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can I declare Dividends in Advance for Mortgage?
Hi All, I’m writing with a question, as there is nowhere I can get the answer. I’m interested in a First Time Buyer Mortgage and I’m a director of my own company for the last 4 years. I have made an Annual Accounts for 2016 already, and it’s showing not so much dividends to take. Now to be able to take right mortgage I…
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Self employed advice
Hello, I'm after some advice! I'm self employed and looking to move home this year but a little (very) confused about my options. My wife and I moved into our home five years ago and took out a five-year mortgage that will end later this year. Since then I have become self employed. I have filled in self assessment for the…
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TUPE during mortgage Application
Hi everyone, currently in the process of a mortgage application waiting for valuation.. My partner has found out her contract is being moved to a new Employer under TUPE.. Will this be a simple change of employer from my Broker on the application side or will cause a huge hiccup with the underwriter? Anyone got any history…
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Right time to fix?
Wanted to get some opinions on the below to make sure I am not missing something. Due to additional borrowing on different products, my loan is in two parts (currently borrow with Santander) Loan 1: £116,000; 14yrs remaining; 1.24% (BBR+0.99% for life) Loan 2: £122,000; 27yrs remaining; 3.09% (fixed rate, 2 years remaining…
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How much time does it take to process a remortgage?
Hello I am looking to remortgage for first time. If I make a remortgage application today, how long does it take to finalise and complete in reality based on your experience? I understand it will be quicker than buying for first time but just want to get a sense of time (weeks, months)? Thanks
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Scottish Amicable Endowment Policy
If anybody has one of these maturing soon..... My maturity letter arrived last week. Scottish Amicable Home Purchaser 2 (started 1992) It read No. of units: 11501.96 Unit price: £1 Value £'s: £ 11,501.96 Bonus units: 3860.54 Unit price: £1 Value £'s: £ 3,860.54 Final Bonus: Value £'s: £ 11,520.90 Total value of with profit…
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Mortgage is in my wife's name but
I have been making payments and contributions to the mortgage since 2012. I have adverse credit. Am I able to use these payments to be able to be added to the mortgage at all?
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Mortgage after living abroad
I have been living abroad for a number of years and Want to apply for a mortgage. I have enough money for a deposit, just no job. Will this be an issue? Also will they request my overseas bank statements? I can provide tax returns I'm just not willing to give bank statements as they are quite messy.
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Which lenders aren't online with mortgages?
I guess it's not a total surprise given their business model, but I was a bit taken aback to learn that first direct don't have any online access to mortgage accounts at all. It's "in the works". It's all via paper and telephone a bit like 1979. Are they the only anachronistic bank/building society, or is this more…
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Bad Credit Mortgage with LTV of 50%
Some advice would be great. I a looking to buy a house for £120000 with a deposit of £50k we were discharged Bankrupt in 2012 and stupidly have a CCJ from Water board. My income is £28k and currently pay £800 pm for rent. How would I fair getting a mortgage and as I am 45 I would only want a 10 or 15 year mortgage? Any…
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Home owner looking into BTL
Hello My name is Stuart, I currently own a home which is valued at 180k, my current mortgage is 134k remaining. I have 46k equity in it. my salary is 26k and wifes is 19k with zero dependents and a healthy amount of money left over each month. We are looking into a BTL, 2 bed terraced property priced around 50k, rental on…
