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First mortgage advice
Hi everyone, Long time lurker/reader, first time poster. I'm hoping for a bit of advice as my partner and I look to apply for our first mortgage this year. Firstly, my credit file. I have a few defaults and one settled CCJ on my file. Am I right in saying that these will drop off 6 years on from the default/CCJ date? All…
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Mis-sold Northern Rock mortgage
Hi, I keep seeing feeds on Facebook about claiming money back from Northern Rock, I know this is likely with regards to PPI, but I took a Northern Rock mortgage out about 12 years ago. I signed up for a fixed rate mortgage, it turned out that I had a variable rate, so our payments kept increasing, Being a first time buyer…
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Santander Follow On Rate
I have a Standard Variable Rate Mortgage with Santander. They have offered me the option to switch to a Base Rate Tracker, a Follow On Rate, which is currently cheaper. In February 2018, the SVR is 4.74%, the FOR is 3.75% (Bank of England base rate plus 3.25%) As we all know the Bank of England rate is likely to increase,…
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Parental Support to Reduce Mortgage Burden
I am recently divorced and have a child who given the constant upheaval he has faced in his life is at least owed the stability of me retaining the family home for him. It is valued at approx. £230,000 and there is a 20% charge back to be paid to my ex upon sale (or other associated caveats in the settlement). Up until…
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House Valuations during remortgage application
Hi all, We're about to remortgage as our 2 year deal is ending. On many lender websites you can roughly see what your new interest rate will be through their calculators. With these you have to estimate your property's value. This is all a bit hypothetical until the valuer comes out to actually do a valuation as part of…
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Is it better to keep a mortgage?
I am in a fortunate position to be able to pay off our mortgage later on this year when the term ends. It's currently offset and with First Direct. I have read in the past that it's worth keeping a mortgage, both for a line of credit and also to prevent fraudulent transactions. Also anecdotally I've heard your more likely…
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Credit Check: New Build Change of Lender
Hi all, I reserved a new build house back in November for completion this August. To get through exchange I got a good 2 year deal offer with a lender whose products had a completion date up til October this year. However I would now like to explore a 5 year deal with a different lender (initial lenders rates are very…
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Right to buy...bad credit/large deposit
Hello, Just wondering if anyone has been in a similar situation or has any advice. My credit history is not great, no big debts on their just some late payments to catalogue, one default of £25 from 5 years ago and one recent ccj for £250 that I payed a week after it was issued so I think that should technically mean it…
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Variable pay every month and mortgage application
Hi everyone. First time posting but have been reading the forum for a while. Going to see a mortgage advisor on Tuesday but hope I can get some answers beforehand. So basically I work as a restaurant supervisor on hourly rate (not salaried) and as so my pay check is different every month depending on the hours I!!!8217;ve…
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Should we give up lifetime tracker?
Partner and I are in the process of buying a new house. Moving closer to parents as Dad is very ill and Mum not coping as his carer. We are having to borrow more to do so, as we are moving from a cheap area into a much more expensive one. We are long time Barclays customers, over twenty years. We currently have c. £53k…
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Reducing early repayment charge
Hi, I've read a few other threads on these but they're quite old now. General consensus is it's what I agreed to and I accept that but I'll explain my situation to see if there's anything I can do to reduce the overall impact. I signed up to a 5 year fix with Post Office mortgages in early 2014 so the rate expires in…
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Mortgaging a second property
Good afternoon I currently own a house outright that's worth around 250k. I currently earn about about 29k a year and was looking to get a mortgage to buy another property. Question is how much of the first property can we take out to get a second home. The banks will only lend me about 90k so would I be able to use around…
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Redemption/Completion statement Confusion
Morning all Please can anyone try and answer this please. Here goes! Our fixed mortgage has now ended and we are remortgaging with Tesco with an agreed 93,000 Tesco's solicitors have emailed me the redemption statement and its 92,410.29 according to Natwest. I have some fees mentioned - £48 total so surplus monies is…
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Daft remortgaging question
It's the first time I've ever had to remortgage so please bear with me.... My 2 yr fixed rate mortgage on my flat is coming to an end - my bank has given me two offers; another 2 yr fixed rate which will cost about £25 less per month; or a 5yr fixed rate which will cost about £50 more per month. I know mortgage rates are…
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Mortage & Outstanding debt
Hi all, My husband and I are planning to move house next year in order to be in a better area to secure a better primary school for my daughter (we have to apply for schools November '19). We have done some rough calculations regarding our outstanding debts. Mine will be repaid by August '18 which means I can then start…
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I need a sanity check!
Hi, I'm new here and just looking for a bit of a sanity check regarding buying a first home. The vital statistics.... I earn £65k, my wife £40k. We have savings of around £30k I have 5 late payments to a credit card on my credit file. Four of these will be gone from my credit file this time next year, and the other one…
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Do Natwest....
Instruct a Valuer as a matter of course or only if we've passed the initial credit checks?
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Remortgage now impossible?
We recently switched from our 2 year fix to a 2 year tracker with Nationwide, planning to go on to a fix when our LTV hits 80% (from 95% when we purchased) in about 9 months. Of course, in the few days since, Nationwide have ramped their 5y fix rates from 2.24% to 2.74% over the course of a few days despite no changes to…
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New Build - Reserving Mortgage How Long?
I am planning on buying a new build but was wondering which mortgage providers are the best to go for. From what the agent told me the house is not completed till Aug / Sept, so applying for a mortgage now would mean it would expire by the time I got to exchange. Would I be best to wait till April to apply for a mortgage?…
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2 year Vs 5 year
Hi Guys, Planning on staying 5 - 10 years Age 35, 2 kids, 3rd on way, currently no child care costs as they are of nursery age. Savings all going towards deposit Fairly simple lifestyle Income ~50K per year Wife currently on career break but likely to be back to work in 2019. I have had few products to choose from, the…
