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Change of circumstance or job loss post-Exchange
Hi all, My wife and I have recently put a reservation on a new build that has come up in our area. We've spoken to a broker and have been advised on an initial check that it is within affordability with the Halifax on our chosen route of Help to Buy with 10% down, 10% equity (in actual fact, we also need to put in the £999…
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mortgage application- what to do
Hi all, I have posted previously regarding our debt and current savings and plans for buying a property. Our situation is currently- husband working full time paid hourly £17500 pa without overtime/extra shifts Me, salary £26565, also work bank shifts, earning appox £4000 per year We have savings in various high interest…
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Gifted deposit from mum who might move in?
Hi all - not been around for a while as the vendors of the property we loved and had an offer accepted on have ghosted us, not returning our calls or progressing with the sale. We are disappointed but things have changed a bit in terms of our circumstances and I wanted some advice. My mum is also looking to move, to…
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Multiple AIP/MIP- Damage credit profile
I'm sure this is repeated question on this forum but was wondering if anyone could help. I've completed three mortgage in principles - Two with Halifax (Soft Search) - one with Natwest (Soft Search) My question is , will this damage my credit profile? as I've done three and wanted to check out HSBC/ATOM bank to see what…
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Do I stay or do I go now?
Hi everyone, I'm in a little bit of a conundrum - economics was never my strongest suit so I'm hoping someone with a bit of nouse might be able to help me work out whether my calculations are correct! :) My current mortgage rate is 4.4% and I'm paying around £740 pcm. This fixed term ends in June. To leave this mortgage…
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Incorrect information on mortgage offer
Just received my mortgage offer :j However there is something in the "special conditions" section which is incorrect... It states that the lease is 85 years and the ground rent is £0 annual which is incorrect (lease is longer and ground rent is around £1000 a year). I don't know where they got that from because it's not…
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HSBC mortgage offer validity period
I'm thinking of booking one of the decent rates available to remortgage with HSBC. However, I have Early Repayment Charges until end of February. Can anyone confirm that HSBC mortage offers are valid for 6 months - Is this written anywhere in the terms and conditions? I can't find any info online. Cheers!
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Re-mortgage or not
Hi, I need to know whether it's worth re-mortgaging right now. I think it is but i need someone to verify or point me in the direction of a tool i can use. Current mortgage balance: £121k Current LTV: 40% Interest rate: 2.95% Mortgage expiry: Sep 2020 (so 3 years remaining) Current payment per month (capital): £622.73 Term…
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Not sure which mortgage to get
Hello I would like to get some advice on my mortgage. I'm about to remortgage and have found a good deal with NatWest 2.09% interest fixed for 5 years with no fees. However I will be working away 5/6 days a week soon and would probably need to let it out at some point. My options are: 1 stay with current provider who said…
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Mortgage Calculation Conondrum! Help!
I'm trying to calculate the difference between the following please. Loan £175,200 20yrs 1.29% fixed for 5years +£900 fees and 1.74% no fees. Is there any link to calculation sites that can help? I'll like to know the differnce in cost. Thanks.
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Maths Muppet in Mortgage Muddle - please help!
Hello All, as the title suggests I have a mortgage query and need advice on the best way to proceed. My husband and I are looking to buy a rental property for £90,000 and the house comes with regulated tenants so we are limited to a few lenders in the first instance. We are struggling to get enough deposit to enable us to…
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Remortgaging a property bought outright at auction
Hi, I'll try to keep this simple... I'm looking at a property at auction for £80k that I would like yo rent out, its in a bad state but I've done my research and believe done up it would be worth around £115k. I know theres fee's/do up costs etc but I wondered if I could raise the full capital from myself,…
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Proof of right to reside in the UK
During our mortgage application the lender asked our advisor for 'proof of right to reside in UK'. So we then responded with the following: as Iceland is in the EEA I don't need any documents to prove that I can live here. Gov.uk states the following (https://www.gov.uk/right-to-reside) If you’re from the EEA or…
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Santander Repossession
Good morning, I had my house repossessed by Satander a month or so back over arrears of about £1000 on a property worth about £200,000 with a mortgage of about £30,000. I was away and had been away for 18 months, some 250 miles away, looking after my Mum who had been diagnosed with dementia and had burnt herself. I quickly…
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Misselling interest only mortgage question
This true? Next compensation to hit the banks is the misselling of interest only mortgages?
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What I wish I knew before applying for a mortgage...
I'm starting this thread from the position of a first time buyer who thought themselves relatively financially savvy! Since starting this mortgage malarkey there's been plenty I've come across that I previously had no clue about! Please feel free to add your own experiences and maybe we can help future FTBs! 1) Having…
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Mortgage question
HI I have a question as per Martin newsletter email today re the above I have the following Mortgage balance outstanding 33K Borrowed £54k variable rate 3.64% Remaining 16 years It is a repayment and interest is charge yearly I pay £311 a month Can you advise I wanted to move to another provider what would the charges and…
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Any reason not to long term fix?
Hi All I'm coming to the end of my 3 year fix (i.e. 3/25 years in), and looking to remortgage onto another cheaper rate now. I know no-one can predict interest rates, so it seems to me that as they're not going down anytime soon, I might as well fix for 5 years, as in my case it's not much more than a 2-3 year fix (+0.5%…
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Mortgage success with debt
Just to give others hope, we’ve had our offer approved today for mortgage 90%LTV with 10% deposit on purchase price £175k Applicant 1- salary £46k, outstanding loans £8k, credit card £6k, child care £180pm Applicant 2- salary £37k, car loan £356 pm for 2 years Mortgage approved no questions asked with principality 2.1%…
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Thank you forum people :)
Hi All, Just wanted to say thank you for all of you who share your experience on here, not to mention the support and advice other posters give and show to those who do share (some of you are blunt but the truth always is :P). I have just received an offer for my first mortgage and during the wait I have been absolutely…
