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Self employed with bad credit and a BIG difference in recent years books.
Good afternoon, I'm always on the MSE forums trying to find a post that has a similar situation to myself but of course everyone is different so I thought I would try asking for some advice: I am a self employed log cabin builder and I've been registered since 2011. My issue is my wife and I have travelled the world and…
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Can/Should I re-mortgage
Hi, I have recently come to the end of my career as a professional sportsmen. My next chapter I am hoping is going to be involved in property development. I have the majority of my savings tied up in my property. This is worth approx £1million with a mortgage outstanding of round £180k. I need a large sum of liquid cash to…
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Buying a home together
My fiancee and I are planning to sell our homes and buy in joint names ( 60:40 split.) My house is mortgage free but my fiancee's has a modest mortgage. The intention is that we sell mine first and I move in to her house. As we don't need a mortgage for the new ,house we can use the fact that we are effectively chain free…
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Should I go long on my mortgage or short?
Hello all, so I'm in the process of getting my first mortgage with my future wife. We've got a 75% LTV loan on a 2year fix from Nationwide (1.74%) I should mention, no matter what we're in a good position to handle monthly payments, whether aggressive or not and including severe interest rate rises. This is mostly about…
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Buying my parents house to save them from homelessness
My elderly parents bought their current home in their late 50's with an interest only mortgage of £130,000. Now at the age of 78, the mortgage term is due end next year, and they do not have savings to repay the debt. As a consequence they are faced with having to sell their house to repay the debt. Their income is limited…
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Remortgaging- change of circumstances
Hi there, I'm looking for advice about remortgaging. Current mortgage deal with Halifax ends in September, LTV is 75%, 136k outstanding. Mortgage is in my name only, we decided not to put my husband on the mortgage at the time of purchase. Our circumstances have changed in that we now have a child and my salary has reduced…
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Over pay mortgage or pay off Unsecured Loans first?
Hi We've been in our first property now around 4 years, looking to start a family soon so likely going to need a bigger boat! Starting to think ahead to getting a mortgage and our credit record. We are in fairly good shape, no bad credits, no missed payments, etc, good availability to credit, make use of a credit card…
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First Mortgage
I've tried searching to find the answers ton my questions but am having a hard time sifting through the volume of information so I'm really hoping some kind soul will read this post and respond - hopefully answering my questions and putting my mind and ease. Background information: First time buyer. Recieved a decision in…
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Is over-payments the best option?
Hey Fellow Savers, Need a little bit of advice. I am in a position to do the full 10% overpayment on my SO flat in Croydon. This was always the plan, however I am not so sure if it is still the best option. I have had the property for almost two years and hope to sell it and get a flat in more central location in three…
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Critical situation / Tier 2 Visa + Off plan buy
Hi All, I' trying to help my girlfriend who unfortunately is in a quite bad situation... to not bother you with too much text, i keep it simple. So the situation is as follows: My girlfriend is a Japanese citizen living and working in London for 1,5 years. She bought a flat per reassignment contract off plan, so she bought…
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Remortgaging with a default
Hi guys Bit of a long story but we're in the process of trying to remortgage. We've been very silly and over the space of ten years have racked up the credit cards, oh business hasn't been doing as well and in the process we wrote to oh credit cards and asked for some breathing space as the interest was crippling us. We…
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Deposit for exchange of contracts when deposit is coming from a remortgage
Basically, we are purchasing a house on a 2nd home mortgage for my mum to live in, to give her some security finally, as we found out recently our house has gone up quite significantly in value. We are sourcing the deposit through remortgaging our current house to release some of the equity. We have had the 2nd…
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Mortgage awaiting completion help
Hi everyone. I hace my mortgage offer from money bmut today a catoulogue credit account apoeared on my credit report. I have cleared the full balance it wss relatively small. Should i phone and tell them in the intetsts of disclosure? It will show on my credit file if they re check so what do you think? It wss always my…
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Married first time buyers, single or join application?
My wife and I are first time buyers. Currently renting but we now want to relocate long distance out of the London area mid-end of August and buy a house we've seen priced around £155k and we aim to put down 20% deposit. My job won't change with the relocation and the salary will remain at £34k. My wife has a 40k salary…
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New endowment
Hi there I let my endowment go a few years back and need to start paying into something that will cover the mortgage, is an endowment still the best option?
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Buying flat for son to use whilst at Uni
hi son is away to uni and we are looking to get a flat, have looked at renting but cost much the same as buying. Have seen a flat around the £70,000 mark but the problem is we don't have much deposit, I could get 5% but would really be looking for 100% mortgages. As would be not be renting the flat to him, this would be a…
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Should we apply for a mortgage in principle now, or later?
First post here – any advice will be very much appreciated :-) My wife and I are planning to buy our first property within the year. We’re not sure whether we should approach banks and/or mortgage advisers now, or wait. Essentially that’s because I’ve been working voluntarily for four days a week since December, to spend…
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First time buyer and getting new jobs
Hi, We're first time buyers and been told by a mortgage lender that we could borrow 200,000. Weve been looking at the quality of houses in our area compared to other areas for this budget and other areas are much more tempting! However this would mean a change in jobs. Are mortgage lenders likely to agree to this?
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Remortgage for first time buyer
Good morning, I'll try keep this as short as possible. So we bought our house for £160,000 4 years ago, we paid 5% deposit and had a mortgage of 75% and borrowed 20% from the government and Bovis. I've changed my job recently and doubled my annual salary so now we're looking at an extension, so can we remortgage as we want…
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Mortgage offer expiry date
Hi Can anyone tell me at what point the purchase needs to be at when the mortgage offer reaches the expiry date? I.e. Do the funds need to have been transferred by the lender by that date or can it be when the mortgage has been accepted by us and declaration forms have been returned? TIA
