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Interest added at beginning of loan?
Hi everyone, This is my first post, Im really sorry if its in the wrong place !! Im really hoping for a little advice. We took out a second charge on our property to compelete much needed work four years after we purchased the house The original loan was done through a mortgage broker and they set it up with first plus…
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Simple question Mortgage Rate
I have what I think is a simple question but just want to clarify: I have put a deposit down on a New Build house that won't be ready until the end of August. If I get a MIP for a 5 year fixed & then get accepted for the mortgage in say April what would happen if the interest rates rise in May? Would this increase my…
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Redemption Figure
Good morning, Just after a general steer on what is normal practice. I have a mortgage which I intend to pay off on 1st March. It is in a product until the end of Feb which has a nasty early repayment charge, so I want to pay the day after. My regular payments are at the end of the month, so one will fall on Feb 28th. My…
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Mortgage declined
Have recently had an offer accepted on a house we want to make our first. However, the mortgage has been declined after been accepted in principle. What can we do now? Will any other lender accept us after Santander have left a heavy dent in our credit scores. Or is it now a case of waiting 3, 6, 9 months to re apply?? Any…
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Early Repayment Charge - Can't get out of my deal!
I recently applied to borrow an additional 20K against my mortgage to pay of some debts. The lender declined to provide due to financial association with my wife, which is over 6 years old! She doesn't pay any bills and hasnt for 6 years as I pay them all myself. They also declined to quash my early repayment charge to let…
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7% interest rate for first time buyer - need help!
Hi all, I am looking for some advice please. We are looking into buying our council property. We desperately need a 3 bed and cannot exchange, our only option is to buy the property we are renting and look to convert - this could be done for roughly 3k. (Builders in the family so I'm not concerned about that) I've not got…
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Nationwide mortgage application
Hi All, I initially applied for a DIP with Nationwide. I received a message saying my application had been referred to an underwriter and was asked to send in 3 months of payslips for my partner and I. A couple of days later my status changed to DIP approved and I have just completed a full application and a request for a…
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Mortgage Finishing Soon
Hi I have an interest-only mortgage and have done so for some years. I have been able to save during this period and so put away the money required to pay off the mortgage into various ISAs and savings accounts. I am hopeful that approx. 20/22 months time, I shall have enough money to pay off my mortgage in it's entirety.…
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Halifax mortgage application
Hi all, I hope you'll allow me to indulge in what I know is a very regular thread topic! I'm hoping to gauge views on the likelihood of a successful mortgage application with Halifax. I live in an area where properties sell very quickly so went direct to my bank (Bank of Scotland) when the broker I chose cancelled the…
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Getting AIP renewed after having a offer accepted
Good afternoon, Me and partner are in abit of a dilema. Our agreement in principal expired last week and we've just put an offer in on a house yesterday which has been accepted :j. The vendors estate agent is very keen to see an AIP. We have seen a mortgage broker who provided our initial one. I got in touch with him last…
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I have £100k, pay off mortgage or HTB equity loan?
I have a help to buy mortgage. I borrowed £46,000 as a help to buy equity loan. I took out my mortgage with Natwest. I took it out November last year. I have recently came into some money, around £100,000 to be precise. What is the most beneficial way to use this money? Is it to clear my help to buy loan off and use the…
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First time buying - Help To Buy/LISA & more
I'm unsure what to do in this situation, so I was looking to see if the wisdom of the MSE Forum may help. This may be a little long so bear with me. I am currently on a training contract, but this comes to an end in September. However I have a permanent job lined up which I will be starting when all of my pre-employment…
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First Direct/HSBC Remortgage Deed Conditions 2012
Morning all, My wife and I are currently in the process of remortgaging our house for the first time. We're (hoping to) move from Natwest fix, which ends this year, to a MSE recommended fix with First Direct (HSBC owned). After reviewing all our options, we're applying directly to the lender. Reasons for First Direct…
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Porting mortgage
Looking to split up with my partner (not married) and buy a house on my own. Current mortgage is portable, does that still apply if it’s not both of us porting it just one? I’ll be borrowing a bit less and understand I’ll need to pay an ERC on the part I’m not porting
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Loan to Value
Hi, I'm selling my home and buying another. The house I'm looking at is valued at £178,000 on the home report. We are looking to offer more than that - say £181,000 for example. I was wondering how lenders judge the "Value" part of LTV. Is it based off the home report valuation, or on final sale price? So would I be paying…
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Poor legal service
I'm in the process of remortgaging to Halifax. Before I applied, I told my broker that my deeds are still in my maiden name at the Land Registry as I never got round to changing it :o He said this wasn't a problem and it would be picked up during the legal process and they would get it changed for me. Halifax appointed…
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Broker mistakes in Application
Hi, I wondered if anyone could offer advice, I contacted a mortgage broker to see if it was possible to get a mortgage on the house we live in and rent. It is owned by my parents and they want to gift us the equity in place of a deposit. (yes they understand they will have to pay capital gains tax based on market value,…
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No credit history- Could I get a mortgage ?
We have been renting a house for 4 years and our landlord has told us he wants to sell. He offered us "first dibs" and will be gifting us the deposit. I have never had a credit card or loan and so don't have enough activity to populate a credit file. Ideally of course I would have spent 6 months or a year working to boost…
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Endowment question
Hi there. My husband pays two endowments for a previous mortgage with his ex-wife. They are used as a savings plan now as the mortgage is repayment. He wishes to stop paying hers and cash it in, they are both with Aviva. How does he go about this - I've read something about Deed of Assignment somewhere. Is this easy to…
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Mortgage - repaying car loan (Accord Mortgages)
I've got a car loan at the moment, which is pretty extortionate. Due to pay it off early (about £8k), however I've just looked at affordability calculators (Accord for this one, as it's very likely that's who I'll be going with). If I enter £228 as monthly loans/HP to remain outstanding I get total lending value of…
