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Joint mortgage viability as a sort-of-maybe-freelancer
Hi all, Bear with - slightly complicated scenario. So my partner and I are in the midst of a two-year tenancy in a rented property. This will come up for renewal later this year, at which point we’d like to - if we can - try and hop on the property ladder. We’ve crunched the numbers and we should comfortably be able to do…
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Best way to buy property from my dad
Hi there, So my dad wants me to buy his property from him, It’s valued at £430kish and he said I can have it for £210k What is the best way to do this? I don’t mind if his name is still on the mortgage/re-mortgage but seeing he is 66 (and not in great health) he said he would rather not be. I have around 30k deposit and…
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Auction Property
Hi Im looking at buying a property at auction - the amount I need 50K only I have 50 deposit Ive bought a house before at aucion i know the process its in same road. This time however I wish to live in it - Any advise please ? I tried an unsecured load where can I get 50K in 3 weeks ? Thanks John
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Extension / Mortgage Question
Hi All, Hoping this is the right area to post and somebody can answer my question regarding a possible extension to a house and how that might effect a mortgage? This is the example that I will use:- Before Extension Value of property - £300,000 Outstanding Mortgage - £150,000 Equity - £150,000 After Extension Extension…
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Releasing equity at remortgage
Hi, Our mortgage is up for renewal in September and we'd sorely like a new kitchen. Rather than borrow on a 0% interest card over 3 years (which was my first thought) I had the idea of releasing some equity in September. House value = est. £380k | remaining mortgage = £236k | Equity = £144k. The house will have risen in…
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Advice on settling home after split
My husband and I split last year and I have continued to pay the mortgage and household bills without any help or support from him. He wants to sell the house with I have agreed to but as he has not paid a penny for the mortgage in the past 12 months, I would like to get half of the mortgage payments I have paid over the…
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Cannot Afford Mortgage (On Paper)
After some advice. I have a mortgage with my ex partner (since 2008). We've been split for 5 years. She's not paid the mortgage in the last 5 years, however I HAVE been paying it. I have never missed a payment in 10 years (nor will I in the future). She wants nothing to do with the house and has requested to be removed…
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Share house with daughter
Hi, My husband and I have a house worth approx £500k, with a current mortgage of £93k. We want to build a large extension so we can live in it and our daughter and her family will live in the main house. The main reasons being helping her live in the village, plus I have health issues and it would really help for her to…
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Closed accounts on credit file
Hi Am looking to move home - house worth approx £270k current mortgage £117k , looking to purchase property worth £400k - joint salary of £95k debts of approx £6k All looking good - however there are 2 closed accounts on my credit file they have been closed 2.5 years but show as an arrangement to pay (i was on dmp that…
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Mortgage V Loan
:doh: Desperately seeking advice!! We currently have 9 years left on our mortgage- current balance £40k BUT we want to pay £20k off and pay the remainder over the next 3 years. Our current provider will not mortgage under £25k (& then at a higher rate!!!) So we started looking at taking a £20k loan over 3 years or 4 years…
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Need help! Mortgage application and tax credit awards
Hi everyone. Il keep this as simple as possible. My ex partner and myself applied for a joint mortgage in September 2017 but split up a couple of weeks after we submitted all the supporting documents for the application. My partner then applied for for working tax credits in the Sept 2017 as she was a single mum and…
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Mortgage deposit
Hi, Could someone explain to me pls if for example you have a mortgage in principle of £130k. Can you buy a house for £150k? Is it that you would then only have to show that you have the difference in money i.e £20k or would you have to put down the requested depsit of say 10% of the the £150k. Thank u
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Can I take out a mortgage on a flat I own outright?
Hello, I hope everyone is well. I have a 2 bedroom flat on the 6th floor of an ex-council flat that I own outright (no mortgage, bought with cash) I was thinking about releasing some equity on the property which is currently valued at £240,000. I was thinking about getting £80k if possible. Are there any lenders who offer…
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Repayment Vs Interest only - TAX Help!
Hello, Recently accepted for a remortgage on one of my BTL properties. So far i've always had this property on a straight forward repayment mortgage. And Paying tax on the earnings from rent than exceed the mortgage payments, per calendar year. All standard stuff. However, I'm looking at the more flexible option of going…
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Remortgage Advice
We have had a mortgage for one year but we are on 8.35% interest rate as our credit rating was not good. We have not missed a payment in the year and we have an average credit rating now having paid off our debts but have been told this could stay on credit report for 6 years. We would love to remortgage to reduce our %…
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Other means of being added to a mortgage e.g. will
Hi My mother would like me to help pay off her existing mortgage. She is also happy for me to be added to the existing mortgage. The building society are taking this into consideration although it maybe unlikely due to my existing financial commitments. Nevertheless, I wanted to know if being added to my mothers will in…
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Fixed term - how long 2 or 5 years?
Hi We have been in our first home for nearly 5 years now and that means our 5 year fixed term is coming to an end we are looking at staying with existing provider an djust doing a rate switch can i ask what what is best a 2 year or a 5 year fixed? thanks
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Finding a mortgage for new flat above commercial property
My son has, at the last minute, been turned down for a mortgage for (as the title says) a brand new flat, 2 stories above a commercial premises. He had the “Mortgage in principle” and the estate agent has his name on it......... Question is.........who, if any lenders, actually lends for these properties. I just can’t…
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Insolvency and Late Payments
Wishing to get a mortgage later this year but had some queries. Will an existing insolvency cut out many lenders? I know some (i.e. Santander) say they will not provide a mortgage if you have EVER been made bankrupt. I had a DRO in 2012 and my 6 years is up in May, so will have no majorly adverse credit factors such as…
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Re-mortgage question
I'm concerned about my employment status when I come to re-mortgage in 14 months. My partner and I took out a mortgage on a house we bought last March (with a 2-year deal). We used both of our earnings to receive the initial mortgage, but last month my employers changed the way all staff are paid. Rather than being a…
