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Mortgages & endowments

Archives for June 2018

New Build 10% Downvalue
Hi All, I'm trying to purchase a new build for £332,995, with a mortgage from TSB. The valuer has valued the property at £300,000 and from the comments I can see this is because the roads will not be adopted, however, the developers have shown the valuer a Section 38 to prove that they will be. Three similar plots have all…
Help to Buy help!
Hi All, I'm not sure if I'm posting this in the correct forum, but here goes. We've reserved a new build property through help to buy and everything seems good but I'm a bit confused about the repayment part and can't seem to find a definite answer anywhere! I understand about the 5 year interest free period and all that,…
Online gambling mortgage help needed
Worried about this. We’ve just reserved a shared ownership property and now have 28 days to get to exchange. Myself and my partner both gamble as a hobby (£10 a week each on average) Our disposable income is comfortable and we don’t have any other vices. Also. We’ve recently come back from a holiday and my partner was at…
FTB: Does it matter if we're being taken for a ride? (EA advisor - Bridgfords Countrywide)
Hello all, after some very basic searches it's come to my attention that Bridgfords/Countrywide are very much in it for the money. However, that's not exactly a surprise to me. In fact, from what I can tell, other than being quite determined not to buy insurance from them despite their best efforts, I don't know why I…
Name on wage slip & bank statements differ
We are FTB in Scotland. DIP with Natwest (LTV 90%) submitting paperwork to our broker. She's asked for 3 months bank statements, 3 months wage slips, passport & driving license (proof of residency) I'm sure she's ensuring she has it all to give over if required rather than asking every 2 minutes to send further info.…
Building insurance & exchanging of contract - when ???
One of our solicitor's employee called me today (27th June) after 4 pm and confirmed, that funds arrived at their account and we are ready to exchange the contracts (seller's solicitor was very pushy to exchange today !) Our building insurance wasn't bought and I said that it's too late for our mortgage advisor to arrange…
Cancelling a mortgage application after mortgage paid out
I'm in a pickle We're due to complete (FINALLY!) tomorrow, only last minute the developer building sellers house insurance have gone bust :mad::mad::mad:!!!!!! We agreed with the seller to complete tomorrow as that was the last day my mortgage was valid for and the Halifax would not extend any further, and then demanded an…
Ccj mortgage
Hi everyone Any advice appreciated. So 3 months ago my financial adviser applied for a aip with 10% deposit from Halifax. It was rejected so after checking our credit file it showed my partner had a ccj from august 2014 for 1100 which we knew nothing about as he moved out of that address in march 2014. We paid this…
Which mortgage company for temporary worker?
I have been temping for 4 months and was wondering which mortgage company I could use for my situation?
Mortgage and borrowing
This is a bit long winded but here goes so as of April my final default cleared from my credit file opening the doors to me getting a mortgage so I went for it and I'm due to complete on the 29/06/2018. Now I'm finally in a position to get a much lower interest loan off my bank and I can consolidate some high interest debt…
Tracker Mortages
Hi All, apologies if this is a daft question (and I will talk it through with my broker at renewal) am I right in thinking most trackers don't have early redemption penalties? I will need to make a few big decision's in the next 18months - 2 years, and I might want to sell up and move north to be mortgage free, my current…
Buying ex's half of the mortgage.
Hi Everyone, I hope I am in the right place. I want to purchase the half of the mortgage from my ex, the house is valued at £500k and the outstanding balance to pay is £115k, the house was bought for £260k 10 years ago. I earn £35k a year and to buy his half I have to have a mortgage of at least £280k, but I do not earn…
DIP with Halifax but adverse credit
Hi There, I've posted about our finances before when we were beginning to think about a mortgage, but we're a bit further down the road now and I'm still anxious so looking for some advice so I can prepare myself! In short I have adverse credit having been on a DMP from June 2014 - Nov 2016. The DMP was settled in Nov 16…
When to apply for a mortgage?
Hi all (i posted this in the house buying area but wanted to see what this area thought) So we have put down £100 (refundable) on a new home expected for release at the end of the year. This gave us time to save the full 5% deposit (£4000 short but saving £1000 a month) Fast forward to today and they have called us saying…
Open market equity scheme Scotland-now or later?
Hello everyone, just looking for thoughts on the best way to approach this. My partner and I are in social housing just now and are looking to buy our first property together. In a nutshell: He has £13000 saved; I have no savings. He works full time; I work 24 hours although I'm on statutory maternity leave until October.…
Buying a part exchanged house
Hi Currently have a mortgage offer from Yorkshire Building Society on a 1950’s Semi-Detached in Scotland and we are due to exchange in the next week or so with completion expected at the end of July. When filling out the application there was a section that asked if the current owner had owned the property for more than 6…
Barclays Mortgage conditions
hello I have got the mortgage offer from barclays and there is a condition in the pack saying I must repay the 2 credit card balances (from May by the figures) within30 days of completion without taking on further borrowing. From what I can find from posts from years ago, it is a common clause but I need to check what…
Local authority search.
I just wondered if anyone knew on average how long a local authority search takes as my solicitor is saying it won't be back till the 27th of July even though she's asked for it to be expedited as it's urgent but I've looked on my local council website and they are saying 20 working days which it will have take more like 6…
Shared Ownership mortgages - why so different from normal ones?
Can anyone tell me why the numbers for shared ownership mortgages work out so different to normal ones? My son and partner are in the process of buying a shared ownership. I'll used made up figures but the ratios are correct. Based on joint salary Nationwide calc says 100k mortgage limit (made up figure). They need 40k so…
2nd Property - Stamp Duty
Hi Everyone! Background to my situation: A (long) while ago, my relative purchased a property with her (then) partner. They split up and the property is now held jointly in our names. The flat is in London. That was 20 years ago and I'm now starting a family of my own. Not married, but now have a beautiful baby. Other half…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
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Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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