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Interest only lump sum payments and reduced repayment
Can anyone explain how this works in simple terms please. Interest only mortgage which is fixed, figures below are rounded Mortgage £60000 repayment £266 pm I paid a lump some of 20% (£12000) off the capital which was all without penalty Now mortgage £48000 repayments £213 pm Twelve months later paid another £12000 off the…
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Mortgage with low credit score?
I have always worked on the assumption that due to a low credit score, I would struggle to get credit, and certainly a mortgage. I have seen numerous people on here say to ignore the score as it is not seen by the lender. Is this true? Now obviously the score is an indication of the state of your credit file, but even with…
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Any lenders that dont require p60?
Hi all, Bit of a long story, but are there any lenders that don't request a P60 and accept 3 months wage slips? Advice most welcome.
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Seeing Halifax BS about remortgage later this week but.......
Got a well established mortgage already with Halifax on a property that we have been renovating. Now ready to move into it. Would like to retain current property as a BTL, and remortgage to Halifax as well, whilst raising further funds at the same time. Both have low LTVs. Can anyone offer any insight into how the Halifax…
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Offers in region of - help explaining
Potentially about to put an offer on a property. The asking price is £145,000 however it’s listed as offers in region of. I think it’s worth £142,000 is this cheeky to ask for less? First time buyer. Super unsure: Or should I go for £140,000? :j
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too old?
Hi, My wife and I will become unsecured debt free in around 2 and a half years. At this point I will be 39 years old and my wife 40. We would like to move house at this point, however we are conscious that getting a mortgage may not be too straightforward due to our ages. We will have a deposit of around 115k. It's…
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Morgage application and maternity
Hi 👋🏼 new to MSE here and was hoping someone could help me. So we got a DIP from kessington (as the OH has a settled ccj that is just over 2 yeas old for over a thousand pounds) I have been on maternity due to return to work first week of next month November. Now I am a bit worried as I know lenders tend to ask for 3…
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Gift of Equity from my parents
Hi There, i am looking for some advice, my parents need to move house due to health reasons and need to downsize and are top of the list for now social housing , there ae flats being built and they will be moving their in march next year when they are ready, their home is valued at 130k and will need to sell it , as it…
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Advice please
Hi all, My partner and I are looking to buy our first home. We've found a house we love and have 10% deposit. My partner hasn't got a great credit history. She has a default dated November 11 which hasn't been paid, should we clear this ASAP? Will the debt drop off her credit file in November as it's been 6 years? The…
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Mortgage likelihood
Hi, No judgement please, but can someone let me know if there is any chance of a successful mortgage application with the following: Husband and I ex bankrupts 2009 so no longer on file Did ok with rebuilding credit file at first, but both have a couple of defaults 2 years old due to employment issues. Joint income of 62k…
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Mortgage.Claims
has any one had any dealings with Mortgage.Claims regarding missold interest only mortgage? TIA
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Kensington Timescales
Hi, please can I have some advice as I'm getting frustrated with Kensington and the time they are taking to process our application. We are using a mortgage broker who have been great up to this point but we seem to have hit a brick wall. * Application (joint) submitted 1st August. * DIP 1st August. * Further Info…
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Halifax Affordability checks
Hi I’m on a DMP with Stepchange. Have been since January 2010. Had my Halifax mortgage since 2000. I used to be able to refix each time my fixed rate ended. But have been on their svr for a few years now. I understand now that they go through affordability checks even though I’m not borrowing more money. I’m on a lower…
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Help to Buy Equity Loan - Repay or Wait
Hello I am just looking for a bit of help please and would appreciate opinions. We have a 20% help to buy equity loan. Our mortgage term is coming to an end and we have some options from our mortgage broker. We are now in the position where we can pay off our equity loan, by combining it into our regular mortgage. This…
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Paranoia or bad credit
Hello all Hope you all can give some advise. Shortly me and my wife will be applying for a mortgage (help to buy with 5% deposit) we do have a couple of blips. The paranoid me thinks these might scupper a mortgage but I’m probably overacting. To summarise for my wife: One late payment in 2013 One late payment in 2014 Both…
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buying my son's house
Hi, hopefully somebody can provide some help to help me out with a strange option. My son bought his house in 2010 with a gift of deposit from me. (no need to repay); Seven years on he now has a baby with another on the way, two dogs and his my beloved DIL. They owe around 45k on the mortgage, and pay in the region of 350…
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Mortgage help
Hi, For the last two years we have been overpaying our mortgage by £600 extra a month. We are planning to move in the next year or so. Our deal is ending in December. We are planning to get a new deal for another two years. Should we just stay in the house for another two years or should we try and move now? I wanted to…
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Releasing Home Equity when Remortgaging
Hello, Sorry if i don't give all the information pertinent to this query, feel free to prompt me with anything I should be stating. Basically I am due to remortgage in February of next year (my first remortgage since purchasing the house) the house was bought for £260k with a 25% deposit of 65k (LTV of 75%) we have been…
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Right to Aquire, Mortage
Hello all, Me and my wife have just been approved for a right to aquire scheme in our current house. We are now waiting for a valuation & offer of a discount. We currently have no funds for a deposit, Am I correct in thinking that the discount can be used in place of a deposit? I believe we will be offered anywhere from 1…
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can you get a mortgage in principal if you are dont have a full works contract yet?
My son started his new job in July with a 6 month probationary period. He has a form of contract which is a very basic 2 sheet paper but it is a contract. When he has passed his probationary period he will get a full contract and this will be before Christmas hopefully. In the meantime will a broker or his bank give him a…
