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High equity in house can I remortgage?
Evening, We have a house value from 3 estate agents ranging from 510-540k our mortgage is 140k! We bought for 300k 5 years ago (deposit from old property sale) we want to extend the house to add more value plus we need more space and estimate we would need an additional 40k! My problem is we have a £1000 overdraft and…
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Leasehold
Hello all I've just found out that my lease only has 44 years left to run, making my house vertually unsalable. I was remortgaged just over 2 years ago and unbeknown to me; the mortgage company put my house down as freehold,which was not caught on the conveyance reports, We have been quoted £7500 to purchase the lease but…
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Mortgage increase to fund home improvement
Hello, Would really appreciate any advice. We are currently looking to have a new extension on our house costing approx. 50k. My understanding was I could add the balance onto my fixed rate mortgage with NatWest as I've paid over half my mortgage off. However when I spoke to them on the phone I was told this additional…
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Changing mortgage deal
I am currently coming to the end of my 5 year fixed repayment mortgage deal @ 3.29%, I have found a 2 year fixed repayment mortgage deal @1.99% as the interest rate is a bit lower I was expecting the monthly repayments to be lower, but they have stayed the same is this right or am I missing something.
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1st Mortgage but have credit card debt
Hello Folks, Looking at getting my first home/mortgage (by myself) at some point relatively soon (this year) and was looking for some advice. I currently have £6800 (was £13000 last year) in debt on a 0% credit card to be payed by 2020 & have around £2000 in a LISA for my deposit, i also have some other funds that I plan…
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Virgin Money Remortgage - cooling off period
Hi, I have searched the forum but cannot find an answer to my question. My intial fixed deal came to an end and I have just signed a remortgage 2 year tracker with a 1% ERC about 2 weeks ago, it has been sent back to Virgin Money and confirmed it will be on the new price from March 1st. Now the tricky bit, I've just had…
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Backdated overtime - mortgage applications
Hello All So I get guaranteed shift allowance/overtime which is paid to me every month. If my employer was to agree to do it, my idea was to not receive this shift allowance/overtime money for 3 months (whilst still working it) and then get it paid over the subsequent 3 months, bumping up my monthly income for when I apply…
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Aaargh, do I change MA or persevere?
Hi all, I've posted a few times recently so to those that have already replied and continue to do so - thank you ! I have an issue with our current MA, he is with Connell's Estate Agents and to be honest, the only reason we're using him right now is we signed up to a "free lifetime mortgage arrangement" last time we sorted…
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Shared ownership, remortgaging/staircasing.
Hello! I posted a query about staircasing a while ago but cannot find the thread. I will bookmark this time!! So we have decided to staircase to as much as we can afford with the view to going to 100% in the next few years as we probably are just out of reach of 100% right now. Our mortgage fixed rate comes to an end at…
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Need to work/live in the area you want to buy?
Live in London now, but will move away later. Do you need to get a job and rent in the new location before getting a mortgage or not? I have lived there previously (definitely not commutable from London), and would rather buy a house (first time) than go through the renting process. When applying, I would use my current…
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Broker Fee & Commission...
Hi my broker is charging me a fee of £750 plus receiving £740 commission on mortgage of around £180k. Seems excessive? What can I do in this situation other than try and negotiate the fee? Thanks
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Do I switch??
Hello all I currently have 83K outstanding on my mortgage. My current rate is 2.5% and pay £462.37 which I top up to total £1200. I worked out with the extra I top up the term will reduce to about 6.5 years depending on the rates as the mortgage is variable. Would it be worth me re-mortgaging to a lower rate as their are…
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Daily vs Yearly Interest
I've got a mortgage with Barclays/Woolwich, which charges yearly interest. They've told me that if I want to switch from yearly to daily interest, then I'll have to remortgage. I know there's a lot to consider before I go down this route, but for starters I'd like to understand what the potential saving would be if I did…
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Offset Mortgage with Zero early repayment terms?
Hi all, I have been mortgage free for a few years now which has been great. However, I am seriously considering starting to look at remortgaging to start developing properties as a sideline. I will initially look at selling the properties on, but in the long term, would like to keep them as longer term investments, once I…
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Is mortgage valuation ever higher?
When a mortgage valuer gives their "valuation" for a mortgage is it generally a 1. "yes, we will lend the amount based on the property" or "no it's not worth that we will lend X amount" Or 2. Do they actually give a figure? If that figure ends up being higher than your agreed purchase price can that result in going back to…
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Can i count rent for remortgaging
hi, we are looking at building an annex for my mother on the side of our house which would be around £100,000, she would be contributing £300 towards the bills, my question is - can we count this when applying towards a remortgage?? thanks in advance
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Mortgage paid off in 1992 but some info remains on
Hi My mortgage with the now long gone firm The Mortgage Corporation was paid off in 1992 but it seems the Land registry info was never updated. Can anyone give me any pointers please. Thanks
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Residential or BTL
Hi I have a flat valued at £325k with a £120k mortgage. I'd like to increase the mortgage to around £210k and use the additional money to buy a property in France with a view to moving there and, once settled, then renting out the flat here. I would appreciate advice on the best approach to doing this - is it better to…
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Restraint orders
Hi, Has anyone successfully remortgaged with a restraint on a property:) Need advice please on a potential lender to approach.
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Default, can we get a Mortgage?
Hi everyone. I am new here and joined to get some advice /experiences for getting mortgage with bad credit history. I have two defaults on my credit report. One is from 5 years ago which is now just £601 and the other is from last year for £1700. We are planning on paying off these and I have got a credit card to rebuild…
