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Which Lenders accept PHI income?
Hello Hoping someone here in the MSE Hive Mind can assist with these questions: 1. Which lenders are currently prepared to accept Permanent Health Insurance as income? I know that previously there were lenders out there who would consider PHI, however as the rules may now have become tighter, I would be interested to know…
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Debt free, now what? :)
Hello, I've paid off my debts which accumulated to around £3,000 - mostly were defaults from mismanagement and surviving on payday loans when out of employment during and after uni. My last payments were around two/three months ago. I now earn around £32,000 in my profession and my take home is just above £2,000 a month.…
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borrowing for renovations
Hi, I'm a first time buyer using the council right to buy scheme. I only have to borrow 50% of what my flat is worth. I'm currently waiting for the valuation and offer letter to come through, but as a guide i did a couple of online estimates. The average is that my flat is worth around £60k, so i only need to borrow £30k…
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Endowment advice
Can anyone advise me how to track down the provider of an endowment mortgage from 1990's? House was repossessed in '91. Thanks
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Switching deal with existing lender
Hi, Our two year fixed deal with Nationwide is about to come to an end and if we don't pick a new deal, we will revert to the standard variable rate (approx an extra £160 per month to what we are paying now). In the two years since we got the mortgage my husband has amassed quite a lot of debt. If we switch to a new deal…
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Which deal is better
Currently have two parts to my mortgage with alliance and Leicester (83,395 @0.99% above B.O.E. rate for life) + (£74,837.80 @ 4.74%) both 12.5 years remaining. Santander have offered me the following on total £158,233.45: a) 1.79% with £999 fee 2 years b) 1.99% 2 years no fee c) 2.49% 5 years no fee I know there are…
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Halifax Mortgage Application
Hi Guys, I was after some advice, I am looking to purchase my 1st property along with my partner. The house we have found is at £252,950, we have a 5% deposit available and can go higher if required. We want to take get the the Help to Buy 20% Equity loan, with the idea once we have a property we will make overpayments to…
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Moving House
Hi, We're in the processes of selling our first house and looking to move to somewhere new. Our current mortgage has £130,000 left to pay, and we are half way through our fixed rate term. The fee the mortgage company we have to pay should we wish to leave this term would be £3,000. We've accepted an offer of £160,000 on…
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Recent Consent to Let experiences
Hi everyone, I want to take out a 5 year fixed rate mortgage with my current lender, HSBC. However, there is a chance that I might need to go and work abroad in the next 5 years. HSBC cannot give any upfront commitment that they will agree to a consent to let on my mortgage, although I know that they routinely agree to 12…
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How do I cash in my endownment
My employer has offered me a post in our Dubi branch. I have taken up the offer and will be going in December. I have a lot to organize before then. I have family here so will be visiting when I can. I want to pay off my interest only mortgage. The way I was going to this is to cash in the endowment and pay off the…
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Remortgage payment dates
Hey Guys. Have been a reader in here for a while and found loads of helpful info, was wondering if someone could help with a query. So we have successfully obtained a remortgage deal which is due to complete on 5th September. Now we have had no documentation through the post at all from our existing lender to confirm the…
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Mortgage Deposit
Hi Everyone, I’ve searched and asked this question to a few people but can’t seem to find the answer and wondered if anyone could help. I’m looking at buying a new build property. I have been able to get the 20% HTB loan and I have my 5% deposit. Im now looking at doing a full mortgage application for the remaining 75%…
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Mortgage / buy to let advice urgently needed!!
Hi All, I'm currently living in my family home which is worth roughly £80,000 and I have just under £40,000 left to pay. I have an opportunity to purchase my fathers house from him where he wants £185,000 for (I could possibly have a further discount from him if needed but the house is worth >£200,000, so I'm already…
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Remortgage/SDLT Question
Am about to remortgage and want to add my partner to the mortgage. Going to add them on a Tenants in Common basis, with them owning a 33% share. The total mortgage is £340k. On the basis they will own a 33% share when the Land Registry is updated I see the equity transfer being £113k and as such below the £125k threshold…
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When does interest start from?
Quick question.... At one point do I become liable for interest? I know the first monthly payment will be higher but will it include interest from date of completetion or from the date the bank release the funds to the conveyancor?
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Second time vendor pulls out whilst applying for a mortgage
Agreed to buy a property; a day before survey vendor stated he no longer wished to sell, the mortgage application via Halifax stopped. Found a new property few doors away on the same street £35,000 more expensive but decided to go with virgin who were lending the missing amount, just as applying for a mortgage and a credit…
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Lifetime Mortgage
Newspaper reports show that Equity Release through Lifetime Mortgages as grown by 44% this yeas.this in effect means that 1000`s of homehomers have reduced theri holding in their property ,judgeing by the figures,by as much as 25%.,an amount which will raise every year in their future.For whatever short term reason that…
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Bridging loan to a mortgage, also good for credit ?
Hi all, Im now looking to take out a bridging loan for a few months and just wanted clarrification on a few things. 1. Is it easier or harder getting a mortgage after taking out a bridging loan. 2. how significantly better is it showing payments made on time for the monthly interest of the bridging loan compared to credit…
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Crown Servant Income
Hi, I'm a crown servant, probably returning to the UK next year. We currently own 25% of a shared ownership of a flat which we are renting out, but are looking for something with a bit more space when we come back. Due to overseas allowances, my current annual net income is about £70,000 a year. If I apply for a mortgage…
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Mortgage application online refused
After speaking to a mortgage advisor on the phone from a major bank tonight. We were told to go online and apply for a buy to let. We have no debts and our mortgage has been paid of 10 years ago. WE pay our credit cards every month. We have savings over 100K The question I would like to ask is that one of our children in…
