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MSE News: Regulator under fire for lack of 'urgency' on mortgage prisoners
The Financial Conduct Authority has been accused of having no "sense of urgency" as it grapples with how to help 30,000 so-called 'mortgage prisoners' who have been told they can't afford to switch to a cheaper deal...Read the full story: 'Regulator under fire for lack of 'urgency' on mortgage prisoners' Click reply below…
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Mortgage and divorce
Hi, like some advice from anyone who has already been through a similar experience or knows the legal aspects. My wife and I are divorcing after over 30 years. The mortgage is only has about 3 years to run - just the repayment part - The endowment part paid out a few years ago it has been decided she will buy me out of my…
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Mortgages/finances after separation
uys, I’m hoping for a bit of advice as I’m struggling to find a resolution. I split with a very volitile husband last August. I had to leave our home. We had bought a year and a half ago-joint mortgage. I had to leave as he was becoming very aggressive and I knew I was no longer safe. He refused to leave. So I took on a…
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Worried First Time Buyer - Experian/Equifax can't find me - Address issues
Hi all, My boyfriend and I have had an offer accepted on a house we love. The offer is £540,000 and we have a £70,000 deposit (borrowing £470,000). Our combined salary is £100k and both of us are in relatively good financial positions (I have car finance which can be paid off before mortgage starts, a student loan and an…
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Changing to single mortgage due to bad credit
Hoping someone could help. I’m currently on a dmp so don’t have a great credit score. We currently have a joint mortgage which we got before I had the dmp but are looking at moving house. After speaking to mortgage advisor we decided would be best to transfer mortgage into my husbands name only as he has good credit.…
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Propert Valuation Zero!
Hi everyone, Hope you are all well. Major headache at the moment! So we are porting our mortgage with Nationwide to another property. We are upsizing to a bigger property. Application went fine and then the valuation got done on the 6th, we have had this come back to our mortgage broker who has told us the property has…
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Combining finance to pay-off mortgage before selling
I am planning to sell my flat and have 50% of mortgage outstanding. The property has appreciated by 60%. I would be able to put together the remainder of my mortgage to pay it off by a combination of savings, free credit card money transfer a personal loan. The ratio of the financing in the order listed is 27%, 27%, 46%.…
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Stamp duty on Transfer of Equity
Hello all, I am considering an offer to buy my ex partner out of our home. I do not own a second property and this is my first home. I am trying to work out my Stamp Duty (SDLT) consideration. Let's say I pay her £200k for her half of the equity. And that I take on her half £300k of the outstanding mortgage of £600k (say).…
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Anyone spotted any offset mortgages?
I'm lucky enough to have some savings but also have two young children so would like to offset my savings against my mortgage in case the roof falls in. I've been through L&C and Habito and both brokers have come back saying they only have Coventry BS doing offset. This deal wasn't great. Does anyone know of any other…
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Last mortgage repayment between exchange and completion
Hi, We’ve exchanged today with a completion date of 10 July. My usual mortgage payment for current property is start of the month. I asked my solicitor if I would still have to pay Julys payment and he said yes but then I’d have to claim back the credit from Santander. Can anyone confirm this? I’d obviously rather not pay…
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Later Life Mortgages, any experience?
Due to splitting up with my partner I have to buy a new property, I don't have sufficient money to buy so am considering taking out an interest only mortgage for say 10-15 years with a view to downsizing or doing equity release at the end of the period (if I'm still alive). I am struggling to get any decent rates anyone…
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Mortgage 'monthly commitments'
Good afternoon, I am looking into how much I could borrow to buy my first house. I'm a little confused in regards to monthly commitments on the affordability calculator. Can anyone advise as to weather I need to include the following: Mobile phone contract Union subscription (GMB) Pet insurance Car insurance Car tax Petrol…
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Help to Buy Loan with LISA
HI would i qualify for a help to buy Loan from the goverment if i only have a LISA instead a help to buy isa?
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Mortgage without a job ?
Sold our house , moved area and into a rental cleared debts , sitting on a good lump sum . Had a bit of an extended holiday period . However we havnt been proactive in looking for work locally until recently . I start a new job Monday , the wife tomorrow . We have no wage sheets worth showing but bank statements are no…
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Buying before you sell
We live in a nice quirky Victorian house that we feel will sell quite quickly as there as so few period properties on the market at the moment where we live. The problem is we want a similar, yet bigger Victorian house and you’re lucky if 1 or 2 come up a year that match our criteria. We don’t want to sell our house only…
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Would one of us be able to get a mortgage in these circumstances?
I am going to receive and inheritance of 2/3 of the sale of a house soon. In the region of £160,000. Problem is, to get something to fit our family in this area (we can’t leave) we may be looking for something 10-20k more than that plus associated costs of buying and will also need around 3k for items needed when we move…
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Buy to Let Mortgage - Bad credit
Hi I hope you can help? My husband and I have recently been turned down for a BTL mortgage, the broker says its my husband as my Experian credit rating is 999. I applied for a mortgage on my own but have been turned down again due to 'association' with my husband - joint bank accounts, joint savings, utilities etc - but…
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Nationwide overpayment reserve query
Hi all, Many years ago I had my home on a Nationwide mortgage deal that ended and the mortgage reverted to the BMR rate. This was pre 2009 and so whenever I moved house I made sure that I retained this so that I would always have the overpay/drawdown benefits of it. Now, once upon a time, one of said benefits was that you…
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Consolidate debt before mortgage application?
Hi, Myself and my fianc! are first time buyers and will be applying for a mortgage around March/April 2019. I have 2 credit cards totalling around £6k. I am considering taking out a consolidation loan now to reduce the interest being paid and spread the loan over 5 years. Is this is a good idea to do before applying for a…
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Poor credit help
Long story short I’m trying to secure a mortgage with my partner who has a clean credit report, Mine on the other hand has two ccj’s from earlier this year, one from January to united utilities for £700 which I plan to pay off later today and another from March to BT for £600 which I am trying to appeal (services did not…
