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2 Products at different rates
Hi, When we moved house we ported out existing mortgage, as it had such good rates, but we also needed to increase our mortgage so the mortgage supplier lent us the additional money but with a higher interest rate. My question is that as these 2 products are on the same property and with the same lender, should I be able…
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pay lump sum off mortgage
i have a 57k mortgage with Santander fixed at 3.39% till April 2019 . i have 10k to pay a lump sum off my mortgage in two installments 5.5k now then 4.5k in January as can only overpay 10 % . am i doing the right thing or should i put it into a savings account ?.
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Mortgage valuation comes same as asking price
Hi, FTB here, just came back mortgage valuation and it came back exatly as purchase price (which is below asking price, the purchase price is 125K and asking price is 135K ). Is it common this to come as purchase price? If I am spending money for the valuation then I would expect it to come different as I dont evaluate…
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Joint to sole owner - Advice desparately needed
Hi, In October of last year myself and my partner got a mortgage with Nationwide as first time buyers. Fast forward to three weeks ago - the relationship has fully broken down and we are currently albeit awkwardly continuing to cohabit together in our house. My partner has expressed that his ideal scenario would be to…
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Advice over Broker error
Good morning, I was hoping to relay my situation and get some advice from anyone kind enough to respond! My girlfriend and I are first time buyers and have had an offer accepted on a property. We spoke to London & Country once our offer was accepted and the broker there recommended a Santander mortgage for us. We decided…
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Direct Debit paid for my mortgage, but not out of my accounts
Hi, I recently switched banks (26th) my mortgage DD comes out on the 1st. I can see on my mortgage that this has been paid, but i csnt see it leaving any of my accounts. Should i chase this to find out what's happened? (i presume that it came from my old bank account so im in debt to them) or is it not my responsibility as…
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The Mortgage Lender TML fee refunded
Hi All, We applied for a mortgage and got the DIP last week. Our broker key in the full appllication on wednrsday 30th August. Same time i made the payment of £580 (£430 for valuation and £150 for TML to process the application). Thr Mortgage Lender TML refunded £430 on Friday 1st September (day before yesterday). I am…
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Nationwide Overpayments and Borrowing more...
Following general advice we've overpaid on our Nationwide mortgage and have built up a £30k overpayment reserve. We have £100k equity in our property and would like to borrow £65k of it, taking us to around the 85% LTV additional borrowing limit. However when processing the application online, the £30k overpayment reserve…
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Mortgage lenders for those on contracts - criteria?
Hello I'm am on a FTC which began last September. It has been extended to December and will probably be extended again. A broker said the only option for us was Santander, partly because I didn't have 12 months on a contract. We got an AIP with them. Now they are asking what will happen after my December extension and to…
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Equity Loan
Hi I’m a newbie to this forum and was wondering if anyone knows the answer to a question I have.I am due to retire from the NHS next year and was planning on using my lump sum to pay off my mortgage but will still have an equity loan. Can pay off my mortgage but still keep my equity loan? Many Thanks
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Should I overpay mortgage?
Hi there I'm a newbie to the forum and would like some advice on whether I should overpay my mortgage. We have a mortgage at an interest rate of 1.34% We have enough money saved to make the maximum overpayment for this year. I have always heard the advice that you should pay off debts, in this case out mortgage, before…
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Moving home, increasing mortgage
Hi all, Just looking for some input / advice as I don't really know anybody that understands about mortgages to bounce ideas off...... We are moving home and it is costing a fair bit (ouch :o ) but needs to be done......so I will be borrowing more on my mortgage. We will be borrowing £190,000 which unfortunately puts us at…
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Payday loans success
Just wanted to share my story for others who have been scared away from attempting to get a mortgage due to adverse credit and previous payday loans. Myself and wife planned our move for next year but our dream home came onto market for £250k so decided to try to get a mortgage. First time buyers Me - wage £69k (50k basic…
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Should I be worried?
I took out a payday loan back in 2013 (4.5 years ago now) and paid it back no problem. I'm going to be buying my first home in the next few months and I've just read that these types of loans are a major red flag for lenders? Do I have any chance of getting a mortgage from a high street lender with this in my credit…
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Vida Homeloans
Hello all, I'm new to the MSE forum although I do have a regular read through forum posts. My partner and I have just been declined by Precise Mortgages after they checked Equifax credit reports following our application, although we had received DIP from them. Our broker is now away for three weeks and in his absence a…
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Interest only mortgage comparison
Hi, I have been playing with the MSE mortgage Best Buy search engine; I like it because it is comprehensive and allows sorting by total cost. But it only seems to cover repayment mortgages. Does anyone know of a suitable similarly comprehensive and featured search engine for interest only mortgages. Thank you!
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Buying part exchange property
Hi. We are due to complete on the purchase of a part exchange property this week but have hit stalemate. The builders purchased the property from the vendors in a part exchange deal but have not registered the purchase at the land registry and want to sell to us as power of attorney for the previous owners. Our solicitor…
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PCP for business vehicle, how do mortgage lenders view this?
Hi folks, my wife and I are 42 months into a 60 month 5.29% fixed rate repayment mortgage on our first property together (purchased at 320k with a 5% deposit). We are hoping to remortgage at the end of this to get a significantly better deal as our LTV will be much more favourable. So far so good, now the sticky bit. I am…
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60 years old need mortgage
hi all my wife and i are 60 years old and would like to purchase a property for about £140,000, is it likely that we would get a mortgage thanks Bill
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Some advice greatly appreciated - Help to Buy and mortgages
Hi all, Apologies first of all if this query has been talked about somewhere on the forum already, I did a search and couldn't find anything. Last month me and my boyfriend got engaged and now we are planning to buy our first home together. He earns £14,500 before tax and I have been registered as self-employed since July…
