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Equity Transfer Process (Divorce)
Following a recent divorce I started the equity transfer process today to remove my ex from the mortgage. The current mortgage product is an offset with a reserve. The rate (for both) is 0.48% above base rate. Barclays are telling me that the process essentially needs to be an “internal re-mortgage”…..and they are telling…
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recommended a 5year fix?
I currently have approx. 78k owing on a 200k house with about 20years to go. Have been on a lifetime tracker for years which is now at 2.24% and just thought now was as good a time as any to shop around! No specific reason just thought there must be something better now rates are creeping up. I have had a recommendation of…
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Buy to let 20% deposit
Anyone know of any providers who allow a 20% deposit for a buy to let?
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Concessions Mortgage
Hi Had an appointment with Barclays today and left totally disappointed. My situation is my parents want to sell me and my partner a house for £50k, the property is valued in excess of £200k. Great, should be easy I thought, but no. I have a good credit rating A1 but between us we have nearly £18k on two credit cards. My…
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Help to Buy - stamp duty
Found this information "You may also need to pay stamp duty on your annual rent. This calculation is based on Net Present Value, which can get quite complicated.! In simple terms, if the rent you'll be paying over the term of the lease exceeds £125,000, you'll need to pay 1% for the amount you exceed the threshold by. For…
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Partner wants *much* bigger house
Hi, My partner wants to buy a much bigger (ie more expensive) property - we are currently paying circa £600 a month mortgage - with £100k remaining and approx £100k equity in the house. So, the houses being looked at are circa 500k - which would mean a 400K mortgage - which I'm not sure we would even get. Our combined…
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Gifted Deposit no longer required
Hello all, I originally applied for my mortgage through Nationwide, but when the Help To Buy was rejected I had to switch lenders, and increase my deposit from 5% to 10%. In order to get the application submitted and show proof of deposit, a family member offered to gift me money towards the deposit. Bank statements and…
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Scottish Life/Royal London Endowment
I have a 30 year Scottish Life With Profits policy that is due to mature in May 2019. The associated mortgage has long gone and it is merely a savings vehicle. The policy was intended to pay out £34k and did have a Guarantee Value but this was dependent on me taking additional top up policies back in the day which I didnt…
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Critical illness cover from mortgage advisor
Hi Advice please In process of trying to finalise mortgage at 53. Mortgage advisor been great very thorough and helpful. She has asked me if I want CIC using other past client who has as example of why its needed. I will already be paying high repayment as 95%mortgage over 20 Yr at 53. This CIC is 75 a month(life assurance…
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Pros and Cons of new build Help to Buy
A young family member and partner with a baby on the way want a house of their own. Local rents for a 2 bedroom house start at £ 800 a month. A new build, just about possible with family help for part of the deposit, is £900 a month. With a standard mortgage the price is £370,000. Over the years I've read various articles…
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2yr or 3yr fixes rate?
Hi there, As the uncertainty around brexit gathers, I wondered if anyone had any thoughts on fixed rates. We’re about to remortgage and currently think we’ll go for a 2yr fixed rate at a little under 2%. But someone mentioned to me today, why not look at a 3yr? Sure it’ll be a little higher interest than a 2yr, but perhaps…
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TSB mortgage application
Hi, I am a first time buyer that has applied for a mortgage with TSB. We only applied today and have already been informed that valuation has been booked for tomorrow. Does anyone know if this means they have done the hard credit check or if this takes place after the valuation? This might sound like a stupid question but…
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House Equity in Divorce
Hi everyone, not sure if this is in the correct place... I am currently going through a divorce, the jointly owned home sale is close to being completed but the divorce is still going through with some difficulties regarding finances. Basically i'd like to know where the house sale money will go if the divorce has not been…
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Ltd company, or continue self employed
HI all My partner and I are thinking of selling our flat next summer (2019) and buying a house. I am employed, but my partner is self employed. He has been self employed for 5 years, earning steadily more year on year. He has been advised by his accountant to move to a Ltd company - he's keen to do this as it will save him…
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Mortgage Help
Hi all! I'm currently in my 3rd year in Uni doing my Nursing degree however me and my partner are wanting to look for a house as soon as we can when I finish next year. However I have a few queries and wanted some help! I currently have a defaulted account that will come off my credit December 2019. Because it is so close…
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Mortgage offer wrong
Hi, just looking for advice - received my mortgage offer in the post today , however solicitor called us to tell us purchase price was wrong and need to get this amended or they won’t release funds!! Stressing out big time as we are due to move in 3 weeks time! Valuation was £155000 but only looking for a mortgage of…
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Mortgage needed for holiday lets.
Hi, I’m looking for a mortgage to buy a property to use as holiday lets, whilst living in an ‘owners annex’. I am hoping to sell my own house (mortgage-free) to use as a deposit, and cover fees & refurbishment to new property. I’m thinking of a £75,000 to £80,000 deposit on a £200,000 to £220,000 house. The new property…
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Mortgage Advice
Good Afternoon Everyone, My Wife and I are starting to think seriously about trying to get a mortgage, we have been renting for years and quite honestly we've had enough of lining someone else's pockets. The problem that we have is we are terrible at saving, every month I put between £500 and £1000 in our joint savings…
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Buying out ex husband from a joint mortgage?
Good afternoon, I'm looking for some advise please?? I have a joint mortgage with my ex-husband and I'm hoping to buy him out. Can anyone tell me if I have to stay with my current mortgage lender (not tied into any deals at present)? I would like to re-mortgage and add another person. Is it as simple as taking out a new…
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Offset mortgages???
Can someone explain how an offset mortgage works or if there are other types of flexible products available that I should be on the look out for. I am a contractor with a decent day rate and although I am aiming for comfortable min payment which I can easily afford even in drier seasons. I would very much want the…
