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Mortgage conundrum
Hi all, We have an inheritance coming our way later this year that will let us pay off around 100k of our mortgage. Our house-for-life is on a 3 part mortgage: Part 1: 205k outstanding, fixed @ 3.89% for next 6 years. ERC is 6% up until 2021 then drops to 3%. Full remaining term is 19 years. Limited overpayments 10% per…
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Presice Mortgage Extension Possibility?
Hi all, I will try to keep this as brief as possible! We have a mortgage offer with Precise, due to expire on 26th July. We have some time left on that BUT if we do not exchange by Friday we have to give another month's notice on our rental place and cannot afford to do that and pay a mortgage at the same time. So we…
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ReMortgage Advice
Coming up to the end of my current mortgage deal and looking to remortgage. Current deal is with Yorkshire Bank, 15 years, 10 months to go. Rate is 2.99%, payment is £565pcm but I make an overpayment of £100. Would like to change my mortgage period to 10 years. YBS showing 2 year fixed @ 1.49% - £690pcm. I have thought…
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Advice & Guidance on Mortgage please
Hi all, I was hoping for some advice and guidance on the mortgage I'm currently seeking and while I can find reference to some of the queries I have using a search, some of the info is old and I think it helps to understand the circumstances of any scenario! Scenario We are wanting to move house and have found our dream…
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Sensible mortgage payment amount
I was hoping to get second opinions on this, just so I'm not going to go down with something crazy! I'm currently on £40k p/a salary, with £2390 in the pocket each month. I'm in my mid 20s, looking to buy my first home and intending to repay the mortgage on my own. The property I'm hoping to buy is £250k, I have a deposit…
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How to protect money invested in our daughters new house - in her husbands name
Our Daughter and new Son in Law currently live in a house owned by us. One day we intended to leave it to her or the equivalent sum in our wills. She is now married with a child and they want to move home, we have agreed to sell the original house and for them to use the equity (£145k) as a payment towards the new home. He…
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Contracts Exchanged...Final steps now
We finally exchanged contracts on Monday with a completion date of Friday. Just wanted to say this forum has been so helpful throughout the process, from stressing out about applying for the mortgage, finding broker or any other question. It has felt so welcoming and all questions are always answered. Hopefully the…
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Mortgage renewal and Loan
Hi all My 5 year fixed term is due to finish shortly I roughly owe 70k. I put a 70k down as a deposit. My mortgage is approx £275 p/m. I also have approx £13k loan debt that cost approx £350 p/m What i want to know is could I consolidate my loan debt into my mortgage? Would i be best borrowing on my mortgage and then…
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Second Charge mortgage
Hello everybody, I am in the process of buying a property and the vendor kept delaying the process for 3 months now. They still haven't even sent the draft contracts. They came back to us this morning saying they have a seconde charge on the property and the lender refuses to let them sell the property for the price they…
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Stamp Duty - surcharge
Hi, Myself and my wife currently live in a terraced house which we have had up for sale for approx. a year. We accepted an offer a few months ago and subsequently had an offer accepted on a new house we plan to purchase. Things have been going through, only we have literally just found out the sale of our property has…
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big deposit
Hi, If I had 100k savings, and wanted to buy a 200k house, would the bank look on me favourably for a mortgage? Or is 100k too much to be giving them? What does a bigger deposit mean for me? Will I be paying less, and what else will it do for me? Is it worth it? Thanks.
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Together money timescale
Currently applied for the mortgage to together money, does anyone know how long does it take to get approved from them after the property valuation? Thanks in advance:A
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First Time Buyer - Property with Annexe
Hi Everyone, I'm looking for advice, myself and my partners are FTB and have had our offer accepted on a property which is great news. HOWEVER, being FTBs we have not been told and were unaware of the implication of purchasing a house with an annexe. We are looking to get a 4 bed terrace house, which has a self contained 1…
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Changing Product after Mortgage Offer
Hi Our mortgage application with HSBC is currently with the underwriters. This has been submitted via a broker and we have applied for a 90% LTV on a 2 year fixed rate. If the application is successful, are we able then to change the product i.e. go for a 5 year fixed rate? Just trying to weigh our options up given that…
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A Successful Mortgage With Default Story
Hi Everyone, I've not got a question, but just wanted to post something I know I would have found useful/reassuring a few weeks ago. I have a settled default on my file from just over 3 years ago (no other credit issues at all, just a single settled default for almost £2000). In the past I'd done Agreements in Principles…
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Mis sold mortgage and/or improper valuation
I remortgaged my home in 2007 to settle my divorce payout and went to an interest only mortgage. The house in LS21 was valued at £200,000 which surprised both my ex and myself given we had expected £160/180k. I had to take a 90% remortgage to spay off my ex wife. At the start of the mortgage I had a highly paid job with…
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RTB question
Hoping for a little advice. My wife and I are looking to use RTB to buy our council house. We have been here for around 20 years so would have quite a large discount. It's a PRC build, we last had it valued at £35000 (inc. discount) but this was many years ago and we didn't take it any further at the time. We are aware…
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To ditch my fix - what would you do?
Hi, I know there may not necessarily be a right or wrong answer to this, and no one has a crystal ball, but I am wondering what others would do in this situation. I am in a 5 year fix at 3.25% with Coventry which is due to end on 30th September 2019. As of 1st October this year the ERC drops to 1% of the outstanding…
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Seafarer / Non uk tax payer mortgage app
Newbie looking for help here, I'm a FTB that enjoys the luxury of not paying any tax as I work outside of UK waters 7months of the year. Employer is uk based, I get paid in pounds with a permanent contract. However I'm finding that most lenders won't even entertain me because I pay no tax. I earn 36k per year. A specialist…
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Platform - are they a good lender?
Hi all Our mortgage advisor has advised us to get a mortgage from Platform (part of the co-op). Their rates are really good but I don't know any one who has used them before, nor can I find any reviews online. Has anyone taken out a mortgage with them? What was your experience? Thanks very much
