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Remortgaging issue - interest only part
First post but looking for some advice. Our 2 year fixed rate with the Halifax came to an end end of April. When we started the loan it was a total of £184,000 made up of £50,000 interest only and £134,000 repayment. At the end of the fixed rate period, we made a large overpayment to bring the total owed down to £100,750.…
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Specific mortgage scenario - any help, please?
1. Single person aged 39 as FTB. 2. Low loan-to-value required, perhaps only c£45k of required £130k. 3. Unprovable income as self-employed with variable, fairly low annual receipts, otherwise clean credit record. 4. Willing guarantors (parents) but both in mid-60s and retired, on joint declared property and pension income…
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Worried FTB
Hello all, I'm a FTB looking to purchase a property at £165000, We've viewed the property a few times, weighed up the numbers, did an offer, first did not get accepted. (I got an AIP via their mortgage advisor). Viewed some of the properties next to it, as they are 5 new builds. Decided to up our offer after with an AIP…
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First TIme Buyer - Overpaying
Hi all, Currently waiting on our mortgage to be accepted and the whole process to got through the motions. My question is..... Hopefully we should be in a position to overpay the monthly payments by around £100 (Fingers crossed).... Would it make sense to do this from the outset, or should you wait until the introductory…
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Can you cancel a rate switch?
Currently with Barclays. Have requested a rate switch but now thinking I might change from a fixed to a tracker as I might sell. Got the offer letter yesterday. The new rate is effective from the beginning of July. Anyone know if it's too late to cancel? Their mortgage department is already closed today.
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Lloyds mortgage and arrears suddenly reduced or have they?
My husband and I had a mortgage with c&g which got into arrears due to personal problems and we were trying to sort it. 10 years ago hubby and I separated and I stayed in the house and continued paying the mortgage and secured loans attached to it. About 7 years ago I was paying about £700.00 per month and struggling as I…
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Should we simplify finances prior to mortgage application?
OH and I are looking to get our house on the market in the next few months. I bought the house back when mortgage applications were a very simple affair - I found a mortgage I wanted, rang the building society, they sent me some forms to sign, and it was all approved, no hassle. This time we will be applying for a joint…
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Reducing mortgage term on SO mortgage
Good morning, I hope someone can please help me regarding reducing the amount of interest I owe but which still allows me to staircase comfortably in the future. Basically I have a 50% shared ownership mortgage and have a few k left to overpay for this year's 10% overpayment concession allowed by my lender. I have started…
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Barclays / Woolwich Mortgage
Hi, Probably a silly question but never had a mortgage before and just wondered what the procedure is here.... I took out a 5 year fixed deal in November 2013 which obviously comes to and end later this year. When will Barclays / Woolwich write to me regarding this, and is this when I get their offers of existing customer…
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Booking remortgage in advance
MSE recently posted a page showing how long in advance you can agree a new mortgage by bank/BS but I can no longer find the page. Does anyone have the link?
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Advice required (First Time Buyer)
Hi, We are waiting on a house offer of 190,000 that we put in for a house we love. Our savings are in a Lifetime ISA totally £15,176 (across 2 accounts). We need to put £3056 in to make it to £19000 including the bonus. We can do this over our next 2 paydays (June and July 25th) however the bonus won't be fully in the…
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Mortgage help
Hi All I'm looking for some advice. I currently have a house with a mortgage with Loughborough Building Society and have agreed a purchase on a new property and the sale of mine. The process has been delayed alot and we're looking to complete at the end of August/early Spetember now after initially being told end of June.…
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First Time Buyer?
Hello, I have been a bit confused after looking at different sources of information. I am looking to buy my first home, have never owned a property in the UK. I have a good deposit from a quick sale of a flat abroad (Belarus) which I inherited from my Mum who sadly passed away in July 2017. Suddenly released that I would…
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FTB Buyer as a contractor/Temp worker on shared ownership
Hi Everyone, I thought i would like to share my experience so far with our buying process. Myself and my husband are applying for a shared ownership property as we cannot afford the full amount of a house. We thought this would be an easy process and boy were we wrong. We finally found our dream home after 2 failed…
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Did I get screwed on mortgage?
Hey Guys I had a confusing conversation with nationwide yesterday and just want to check I got the best deal. So I was offered the below and I picked the 2 year fixed Fee I'm a bit confused as to how she came to the conclusion that it's a better deal though...Sort of just trusted her in the end but afraid I got done by a…
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How can I go about removing my partner from my mortgage?
He wants to fight for half of our house, we're not married, we have 3 kids together. And he hasn't paid our mortgage since 2003. I've been paying all our bill's since then. He quit his job in 2003 and refuses to pay anything. Now he's supposedly going to contact a lawyer so he can take half of our house. During the years…
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Clydesdale Mortgage Application to Offer Timeline via broker
I am just trying to find out exactly how long on average Clydesdale bank are taking for mortgage applications made through broker. I have heard they can be very slow compared to majority of lenders Our Time Line Application made by Broker: 18/06/2018 Valuation Instructed on: 20/06/2018 Valuation Booked on: 21/06/2018…
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Pay off mortgage or keep it open
Hi all, I currently still have a mortgage which i can now pay off completely. I was already looking to move to a larger house am i better off paying off the current mortgage in full first before applying for a larger mortgage? Or is it better to keep the current mortgage open and running but with a really small monthly…
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Mortgage Valuation Issues
Hello, I just wanted to know where I stand on this. I had instructed NatWest to carry out the valuation on a new build flat on 30 May. I had silence since and phoned them on Monday but haven't been able to get in contact until today (21 June) to get an update on this and was told by the underwriter that they couldn't…
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Close down accounts no longer in use during the mortgage applicaiton
Hi, I have read on the MSE guide today that you should close down any accounts that you no longer use. I am currently going through mortgage application with Nationawide. I have two accounts which are not in use. - Current account, Its dormant. It has about £500. balance. - Credit card account. Not dormant but haven't used…
