-
Paying Off Mortgage
Have accepted an offer on my house, that is over twice the property I am purchasing. Therefore I can pay off my mortgage and have a nice large reduction in monthly outgoings. One thing is needling me though - I was given some advice to not pay it off entirely, and to leave a small amount - say £5,000 on the mortgage. The…
-
Switching joint mortgage to single name
I've separated from partner and we have a joint mortgage. I'm still living in the property and paying the mortgage and all bills myself. He wants his name removed (understandably). However, I understand I would technically be making a new mortgage application on my own and its highly unlikely my income would be anywhere…
-
Precise Mortgage extension offer
Hello, How long it takes to get an answer for extend the mortgage ? do we need to provide anything? Please advice my offer runs out in 5 days thanks
-
remortgaging with additional borrowing
Im looking to remortgage a property (end of fixed deal) that already has additional borrowing. The loan has two components with slightly different repayment times. original loan on 18yr and additional borrowing on 18yr1mnt. If I remortgage to another company I assume both components are rolled up into one. Is there a way…
-
Mortgage with debt and relatively high income
Apologies, i'm sure there is a wealth of information about this already, but would appreciate some specific advise based on my circumstances. I'm 37, run my own business, earn approx £3,200 per month net, but unfortunately i have around 25k of debt and i'm currently renting (to the tune of £750 p/m). Finding it…
-
Student mortgage
Can anyone help me I am trying to find out if any lender in Scotland provide mortgages for students we are happy to be guarantor for my daughter as she will have to move as she lived with my father who had dementia and ended up in a home and the council have put a charge on his house to cover home charges so we have to…
-
Is my logic wrong
Nationwide are offering me 2yr fix at 1.64% or a 2yr tracker at the same rate of 1.64% Now historically fixed deals were generally higher than variable so in my mind this suggests the bank are trying to "sell" getting the fixed rate. The cynic in me says this is because they expect rates to fall. So are trying to get…
-
Buy to let mortgage
Hi, I'm after some advice please. I am due to complete on my first house on the 29th September and have been given a fortunate opportunity of purchasing my grandparents house for a knocked down price. It's worth £140-£150k and they are offering it to me for £100k. My questions are this; - how easy would it be to get a buy…
-
Not paying off credit card before mortgage
Right this might seem like a silly question but here goes... When filling out my mortgage application, I had £1200 on my credit card. I put this on the application and also put that it would be paid off before I moved house. However, now, due to unforeseen events, I have only been able to pay off £200 and won't be able to…
-
Costs Associated with Moving - help please!
Hi there, We're looking to move house (into a new build) and it's been 15 years since we did it last so some advice would be appreciated please from someone who's done it more recently. Firstly, when we applied for the last mortgage, it was done and dusted in about 5 minutes. I hear horror stories now about how they go…
-
NHBC Claim and Housing Association | Mortgaged
Hi, I live in a 50/50 shared ownership property and I have a mortgage on my share. There was a defect on the NewBuild house built in 2008 that has been there since day 1 of ownership. I am the first occupant. When the construction company fitted the Solar Panels, they nailed a six inch nail through one of the roof joists…
-
Upsizing now we're debt free
Hello everyone. Looking for a bit of advice concerning our current financial situation. My partner and I have just completed a DMP - this finished in June and are now debt-free. Between being in debt and setting up the DMP we incurred 3 defaults. One in 2014 for £4006 and 2 in 2015 for £388 and £218 respectively. These…
-
Buying into a partners house
Can anyone help? I want to buy into my partners house and have a few questions. We have had the house valued at 220,000 and he has 164,000 left on the mortgage, so to move in I would have to give him half of the difference of 28,000 right? If he pays this straight off the mortgage the payments would go down right? As then…
-
Nationwide product switch query
Hi, I booked a non-advised product switch a few days ago to start on Oct 1 and received confirmation. The rate was 1.24% for a 2 year fix for a loan amount of £265k. I now see that the rate for this product has gone down to 1.19%. When I called NW to cancel the switch and change to the new product, they said that they can…
-
remortgage timeframe
Hello. If my fix rate mortgage deal ends on the 31st of July and I remortgage to a new lender, when does the new mortgage, with the new lender, start? 31 July or 1 August? And how soon do I have to start the remortgage process so that I don't end up going on variable rate with my current bank? Thank you.
-
Multiple Loan - half fixed, half variable
Are Mortgage Lenders able to provide solutions for customers where the need is for say 2 or 3 separate loans? For instance 50% of the borrowing on a 5 year fix and the other 50% on a variable rate which can be repaid without penalty from an anticipated inheritance? Both parts would be repayment, but I guess a 3rd part…
-
First Direct Mortgage - Agreement in principal.
Called FD last night and got an agreement in principal. Thing is i have pet insurance and home insurance to renew within next couple of weeks. If i take out new policies I assume they'd do credit history searches just wondering would this have an impact on my mortgage application? Have also got 3 mobile contracts to sort…
-
Post office - first mortgage payment
Hi, My boyfriend and I are first time buyers, hoping to exchange this week with a completion date of the 22nd September. How much will our first mortgage payment be and when will this need to be paid? Monthly payment is £620 Mortgage rate is 3.9% fixed for 2 years Mortgage term is over 35 years We would like our mortgage…
-
HSBC - Execution Only - Securitisation...
Hi I've got a remortgage offer from HSBC through an online execution only application and have been fine with the process up until it mentions securitisation. It did not mention this in the quote KFI, but it does in the offer KFI. It alludes to the fact my mortgage could be sold to another lender and (in exceptional…
-
2nd valuation more than the 1st valuation
Hi :) Me and my partner are first time buyers. We had an offer accepted on a house a few weeks ago, which we offered £9000 over asking price for. We where told there where multiple offers and an offer that was higher than ours, however we had a better LTV, therefore our offer was accepted. Once our offer was accepted, we…
