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Help to Buy Advice
Living in the area known as "London prices without London salary" has made an already difficult time to buy a house even worse but moving on my partner and I (both 25) purchased our first home together. After speaking with many mortgage lenders it seemed that they were only willing to offer anything that could remotely get…
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Remortgage home for buy-to-let?
Hi, a couple of years ago we purchased a buy-to-let flat on a discounted mortgage rate which is coming to an end. Obviously, we don't want to end up on a standard variable rate so we are looking at options. Next year, the mortgage on our own home also ends and we will be looking to take out a new mortgage. We are in our…
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First time buyer mortgage
Hello, Need some advice I'm a first time buyer. I have seen a apartment on the market for £164k I would like to purchase this on the help to buy scheme. For local buyers there is a additional 10% off the asking price to which I would be entitled too. I am totally new to this sort of thing so £164k with 20% off help to buy…
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Co-own a home but want to move out
Hello, About 15 years ago, me and my dad inherited our house from my grandfather in London and we are joint owners. Value is probably around £700K and with £45K or so left on the mortgage. We both live there. Me and my wife and two daughters. My mum and dad. All in one roof. I have been desperate for years to move out but…
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HTB Incentives Chnaged due to Stamp Duty Cut
Hi All, Long time lurker! To cut a long story short: we are very near to exchanging on our new build in London (in fact, completion is next week). The developers offered to pay our full stamp duty but due to the stamp duty cuts, they have agreed to provide us the 5k difference upon completion as legal and moving costs. My…
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Nationwide Rates
Any advice?? Mortgage deal coming to an end and have a letter offering us an initial rate of 1.84% fixed for 2 years. I tried to go online and apply for this, 2 days after receiving the letter to find that the rate available is now over 4%. Went into the branch and spoke to several people who were all surprised about this,…
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Brother wants to take out joint mortgage against my will
Hi all, My brother wishes to take a buy to let mortgage out on a house that we have both inherited. The property at the Moment is mortgage free and held in equal shares. He wishes to take out 50k and I would have to be a co signer for a mortgage I would not use or want. I would simply be signing the paperwork. As you can…
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Worried about variable rate mortgages
I'm a freelance journalist so my income isn't exactly stable, the only way I see myself owning a home anytime soon is by taking a variable rate mortgage. But I've spoken to enough people who lived through 2008/09 and lost their homes as their variable rates rocketed. Does anyone else have one and how do you manage it? Are…
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Insurance applications and mortgage application
My husband and I have just had our mortgage approved and have been advised not to apply for any credit in the meantime. All our insurances are up for renewal right now, would I be right in thinking it wouldn't affect our mortgage application as insurance companies tend to carry out soft searches? I wouldn't view an…
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Paying off my partners mortgage
My father died earlier this year and left me his property which i have sold. I plan to pay off the mortgage on our property that my husband has in his name, (as i was not employed when he took it out). My questions is that would this be treated as a gift to my husband and will we be stung for capital gains tax. We plan to…
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Part & Part - Overpayments
We have a £90k loan with two thirds on interest only and remainder on repayment. Our loan rate is 2% fixed for 5 years. Loan Term is 12 years. We are in position to overpay by around £300 - £400 per month and wondering if should apply this to the repayment or interest only part? Anyone any thoughts on best approach? Thanks
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Natwest
If they request extra payslips how many do they normally ask for?
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Nationwide. Decline offer in principle
I'm an existing customer wanting to borrow more. Low loan to property value. Low other debts. Credit score ok. (Joint mortgage and other applicant the same) both employed. Our application has been declined at the decision in principle stage. I think due to me not putting an exact figure for credit card balance. Assuming…
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2 Years vs 5 Years & 'Standard Mortgage Rate'
Hello, I'm in the process of purchasing a property - first time buyer so apologies if this is a rather stupid question. When selecting a mortgage, I decided to proceed with a fixed 2 year deal on the basis that I don't expect interest rates to rise within that period (for a variety of reasons, including Brexit) and that I…
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Releasing money advice
Hi I am after some general advice. My mum is 83 and wants to get some money from her house. She has no mortgage, and lives alone. She is living on pension credit and finding it hard to cope. What options does she have that will enable her to release some money against the property? She wants to leave the house to me, and i…
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Transfer of Equity, who pays the fees?
So I've just had a fairly awkward breakup with my ex fiancee and we're finally coming to the end of what has been quite a difficult process coming to an agreement on finances. There's still plenty to resolve though. One thing she has steadfastly refused to pay 50% towards, is anything to do with removing her name from the…
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Remortgaging problem - Land Registry Restriction
Hi all, long time viewer and new account holder having lost access to my old account! I'm remortgaging via a conveyancing company provided by Santander. I have a restriction on my Land Registry Title (see below) which I know nothing about. They wrote "this restriction may be registered if it is suspected that there may be…
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Help to Buy ISA and Lifetime ISA Timelines
Hi All, I'm a potential first time buyer with a HtB ISA, opened a LISA last April and am now looking at making an offer on a property. My plan up to now has been to use the ISA if buying before March 18 and if after that I'd transfer the ISA into the LISA and use the LISA. What I don't know is how long it's likely to take…
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Prestige finance
Hello I'm in the process of taking out a second charge loan with prestige finance for home improvements, I'm ok with the initial interest rate which is fixed for 5 years but after that it becomes variable and I am concerned they will be able to change it whenever they want. I plan on changing my current mortgage in 5 years…
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Adding wife to mortgage to buy 2nd property
My wife and I married a few years ago when I already owned a BTL property. At the time we were renting the flat in which we resided. Since then, we have switched the single property I own to a residential mortgage and are living there. As I've been working almost 10 years more than her I own a fair bit of capital in this…
