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Older borrowers mortgage not equity release
Has anyone applied for one of the new mortgages being offered for older borrowers? For example Nationwide and some other building societies and Metro bank which has no upper age limit. I’m not talking about equity release but a mortgage you can pay into your 80s or longer to include capital and interest repayments…
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First time buyer - main home or holiday let?!
Hi :) I'm 27, single and looking to buy my first house. I say house not 'home' because I'm actually looking to buy something that I would use as a holiday let. I work in London and live with my parents in Essex. I can't afford to buy anything decent here and don't really want to. But I do want to get my foot on the…
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Fixed Rate Mortgages & an increasing BOE rate
It seems almost everyone has a fixed rate mortgage. What happens when BOE interest rates rise above the level at which fixed rates are set. Does this mean the Banks will lose money? Will this lead to a bank collapse?
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AIP decline butnot sure why?
Okay where to start, so I paid off my debts in 2015, long story and out of my control as to why I was in debt, anyway. My partner and I have recently had an AIP for a shared ownership property last month to see if it was fine with my credit score and we were accepted. We have since seen a property (again shared ownership)…
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Private Mortgage
Need advice please... We have bought a property off a friend, this has been done through a solicitor, my name is on the deeds and friends name is showing as a charge on the deeds The agreement is that we pay as much back as we can over the next 3 years with minimum payments of £600 per month, we have given friend £25,000…
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Mortgage advice needed! P60 doesn’t match my declared income,was on maternity last year!
Morning, I would be greatful for any advice or if anyone can share there experiences. Myself and my husband sent off our main application last Monday via a mortgage broker to nationwide. Our situation is quite complex as I am a nurse so I rely a lot on enhancements (night & weekend pay) and also I pretty much double my…
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Help with mortgage confusion.
Hi, I am a first time buyer who has a gross income of £17460. I have been in post for over three years with the NHS. Expenses at the moment are fuel at £150 pcm and a mobile phone bill of £12 pcm. My deposit would be £30k. My credit score according to Experian is 999 (Excellent). I have not got any debts and pay my bills…
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Joint tenants separating (not married)
I have separated from my partner of 3 years. We “bought” a house together 2 years ago and are joint tenants. I put all the deposit down, paid for all of the mortgage payments and utilities for the past 2 years and paid for all the major house improvements. The house has increased in value since we bought it. We did not do…
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Moving banks before Mortgage Application
We are currently trying to get ourselves in the best possible situation. I know any credit checks before applying can harm your chances but basically my husband and I have separate bank accounts with separate banks. Our money is all one so in order to manage accounts better we are thinking of just having the one account…
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help!
Hello, I hope some kind members here can help ease my anxiety ahead of the long weekend. Tody we heard the following from our broker: Hi Amber, it looks like HSBC have approved your application. They have sent a message saying " we are pleased to confirm your application has been approved, a mortgage offer document will be…
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Mortgage with one month employment?
I will be starting a new job as a teacher in September (although I have been training at the school I am working at since February and in the employment sector for a year). My husband has been in his job for years and we have no outstanding debt (credit cards paid off in full each month). We have had an offer accepted on a…
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Gifted Deposits- What are the effects?
Hi Does a gifted deposit deposit affect obtaining a mortgage in terms of the amount that one can borrow (reducing it) and if it does is does the portion of deposit play a role eg 20% vs 100%. A friend had his application refused mainly because (according to his broker) of the gifted amount???? The lender in qs is Natwest…
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5yr fixd vs personal loan to pay off
With a few places still.offering 3% personal.loans and only having 5yrs to go with £25k left, I'm wondering what disadvantages there would be justt doing a 25k personal loan and paying off the mortgage. Monthly payment difference is about a couple.of quid maybe a fiver more for a personal loan but then its unsecured not…
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Can't remortgage
I am trying to remortgage, but so far have had four rejections (in principle). I am need to borrow 177k, but the most I have been offered is 170k. Two years ago I was able to borrow 185k, my wife now has a small salary (6k) and we have a good LTV of 63%. We have savings and no debt. My current lenders deal is dreadful, is…
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Lazy broker?
Hi, Can anyone help us? (No debt as in literally zero), perfect credit 999 out of 999 with experian) Our problem is limited company, two years accounts, 1st year loss (16,000) (16-17) 2nd year net profit (102,000). (17-18), next year projected net (148,000) (18-19). We have accessible savings over £600,000. Initially made…
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Bank Statements
What is it that mortgage companies look at on banks statements? How closely do they look at spending and what would be detrimental to acceptance? Tia
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Endowment cash in?
Hello, 1st post. Asking for thoughts. My wife & I have a endowment policy, originally taken out for a mortgage, but we have changed to a full repayment mortgage so the endowment is now a windfall only. Good job really as it is looking to be approximately a 1/3 short on what was originally promised/ guesstimated. Anyway, it…
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Any Reason Not To Pay Off Mortgage?
I am in the fortunate position to be able to pay off my very small mortgage penalty free. Is there any reason why I should leave a tiny balance to be paid off? I vaguely remember many years ago the idea was to not fully pay so the lender keeps the title deeds as it was safer for keeping but I guess with deeds now being…
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Halifax - overcharging due to interest rate changes?
I have my mortgage with the Halifax, it's a repayment mortgage and it's getting close to the end of its term so has reverted to the standard variable rate a few years back, as there wasn't anything to be saved with any of the deals on offer. Each time the Bank of England change the base rates, Halifax helpfully send me a…
