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Is remortgage even possible?
Hi, I currently have 2 mortgages on the one property after moving last year and instead of paying to get out of the fixed rate we borrowed on a second mortgage. Total to repay is £264,000 One ends May 18 the other is July 21. Both I believe with exit fees of £6k. Due to doing a lot to the property and rising prices in the…
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Fee added before the rate begins?
I just did the switch with for my HSBC mortgage and there was a product fee of £750 which I chose to add to the mortgage. The new rate is only to kick in from next month but the fee has already been added to the mortgage. Is this the usual way for HSBC to do it like this? I don't understand why I should now be paying an…
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Right to buy WALES ,joint purchase with pensioner
Hi forum I need some help. Myself and mother have just applied to buy our council house in Wales. My mother has lived there 33 years and would receive full discount. We have had the booklet given to us by Wrexham council stating 2% per year discount max 16000. The council must let us know the price and discount on the…
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Halifax mortgage
Hi Any help would be appreciated. We have just received a mortgage promise from Halifax. On the email it advises the next step is to arrange an appointment for a full mortgage application. It states all the documents we need to bring is proof of income I’m assuming this is payslips? Doesn’t request banks statements etc??
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25 year vs 35 year mortgage confusion
Hi all, I am trying to better understand the difference between 25 and 35 year mortgages and I think I must be misunderstanding something. Some hypothetical numbers: With 2.64% fixed for 2 years with repayment over 35 years - over the first two years I would have repaid £12,984.00 with repayments totalling £31,752.00…
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Mortgage v savings conudrum
Hi forum posters, We have a bit of a savings/mortgage related conundrum which we can’t quite work out. We have a £32k chunk of a mortgage (added from a house move) which we can pay off from £40k of Premium Bond savings we have worked up. On our mortgage we currently pay base rate +0.99% on the mortgage with 18 years to go…
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Commercial Lease - Landlord and tenant
Hi We are in the process of getting a commercial mortgage on an existing business and the whole world seems to be against us! The latest problem is the lenders solicitor has asked for a commercial lease as we will be a limited company (which we were recommended to do) but will be purchasing the property in our names. We…
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Mortgage after DMP
Good evening, I was wondering if anyone might be able to give me some advice on gaining a mortgage. My husband has an excellent credit record, with no issues whatsoever. I however started a DMP in December 2011 and completed this in August 2016. I have 5 defaults on my file, the latest being registered I. July 2012. The…
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House significantly downvalued by surveyor!
Well that wasn’t the problem I expected we’d encounter! I’ve chased up our broker today to be told by another memeber of the team that our lender’s surveyor has valued the house at £170k and we have offered at £200k! Any advice on next steps? Thank you!
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Whats possible
Good evening, Long time reader making first post. My partner and I have a mortgage on our current place and are looking to upsize due to growing family and I'm looking to find out what options we have. Here is our situation: Current house value £200k Mortgage £115k Unsecured debts Me: £23k Partner £5k Income Me £68k…
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Interest only
Hi folks - is interest only still possible? Scenario is house worth £270k ish. No mortgage. 55 + 8months. I have plans to retire in 3-4 years. A house has come up where I want to retire and I'm £80k or so short of what I need to secure it. I would keep both, new one as a holiday home, current one as it is near my job. When…
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Remortgage early
I currently have a nationwide mortgage on a 2 year fix that will expire in April 2018, with possible upcoming rate rises I was looking for a way to lock in a new deal (5 year fix) as a hedge against this. My mortgage adviser (L&C) said we can only look for a new deal 3 months in advance, nationwide also lets you switch to…
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Remortgaging 2 properties.
I have 2 properties that are both up for remortgaging, I am wondering is it possible to remortgage my residential one and release some extra cash and also my buy to let one to a repayment as it is on an interest only at the minute. If I can do this and the resulting cash from my residential can I then wait say 6 months and…
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Mortgage Payment Protection Insurance - Do I need it?
Hi all, Just arranging a remortgage at the moment but I'm getting a hard sell to take out MPPI, specifically a decreasing term assurance critical illness cover over an 18 year term. The remaining amount on my mortgage is approx £150k. I have no dependants, am single, I have enough in savings to tide me over for mortgage…
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HSBC Remortgage + Borrow more
Hi all, I currently have a HSBC mortgage. I have been with them for 5 years. Currently not in a fixed term and paying their SVR. I want to borrow £20,000 more for home improvements. I just expected to remortgage and ask to borrow £20k more, but it seems that HSBC want to push me down the route of a Homeowner loan. This…
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Mortgage advice - broker? Self employed.
Hi, I have been self employed for about 18 months. I would like to buy a house with my partner, who is also self employed. He currently owns a small property but is having difficulty selling. If he is able to sell, he can 'port' the mortgage he already has, and we can add to that - we have had phone advice from his current…
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Forced to withdraw - next steps...
Hi everyone! Hopefully some of you can help a now confused FTB... Unfortunately 5 months after my offer was accepted on a flat I've been forced to withdraw from the purchase, as it turns out there has been an ongoing dispute between all of the building occupants and the Freeholder over several different points in the lease…
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Increase to interest rate
Hi We are in the process of re-mortgaging for the first time and the provider has told us that the interest rate on the mortgage we have applied for has gone up in the last few days. We were concerned about this previously and addressed the possibility of it with staff at the branch. We were told by a member of staff that…
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Completion
Hi! Our completion date has changed from November to 27th October. We received a call from the Builder telling us about it. Our Home Demo is next week. However, we haven't heard anything from our Solicitor. We called them this morning and they even knew that our completion date has been changed. We are really worried about…
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Single Mortgage Joint ownership
Hi All, I know this question has been answered before but my query goes a little further. I am working full time and my wife i a home maker (all along). She has never worked / paid taxes. No criminal records or anything but we never bothered to carry out a credit check as we never needed one. We are now buying our first…
