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Who banks the profit on your house if you sell or are repossessed?
Not looking to sell or be repossessed, but had a question, if say my houe is worth 200k and I have a 100k mortgage. After 5 years the house is worth 250k, but I decide to sell or the bank repossess it, who gets the 50k its gained by? I understand banks will want to sell it quickly and cheaply as they want to mitigate the…
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Remortgage & majorworks debt on leasehold didnt declare now worrie
Hi, i am in the final stages of a remortgage just about to set the completion date (offer accepted, redemption info) and my solicitor has now contacted the council who i have a leasehold with for information on service charge and insurance. I rather stupidly hadn't included the debt i have for some majorworks that were…
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Divide house into two
Hi guys I’d really appreciate your advice. I’m looking to buy what is advertised as one 6 bed house. However its actually an origional 3 bed house which has had another 3 bed house built next to it in the garden. The properties are connected so I suppose a semi detached. The only way to get from one house to the other is…
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ADVICE PLEASE! - reposession proceedings...
Hi there Please can somebody give some advice on the situation my Dad currently finds himself in... He has just received a letter from a solicitor letting him know that they have been instructed to start repossession proceedings on the property belonging to his estranged wife “K”. He has been notified because he registered…
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Chances of being accepted for a mortgage?
Hi, I am after some help regarding a mortgage, Our situation is not a straight forward one, which is why I hoping your combined knowledge maybe able to give us some guidance. We voluntary surrendered our property back in March 2016, there was a very small shortfall after the sale in August 2016 which was paid in full in…
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First time buyer with poor credit score
Hello all, Newbie here :) I’m a 34 year old divorcee, single parent of 1, currently living with my parents. I moved back in with them 3 years ago following a serious car accident which left me unable to manage on my own, both physically with my injuries, and financially due to being self employed and therefore having a…
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Student Loans & Mortgages
I have a 7k student loan debt that I am slowly paying back through my pay. I pay usually about £20 to £40 a month automatically from my payslip. Do Student loans have any affect on a mortgage application? I have good credit with a credit card that i use regularly and never miss payments plus I have a phone contract that i…
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Mortgage application help for adverse credit
Hi all, In need of some advice and support regarding our mortgage application process. Myself and partner have found a property valued at £234995. We are using the help to buy scheme and have gone through a mortgage broker to help place us. I have adverse credit history of 4 defaults back in 2013 which are all satisfied…
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Over 50's Mortgage Renewal Rejected - 1 Month to remortgage PLEASE HELP
Hey All, I was wondering if someone can help, my mum and uncle have a combined mortgage which is on my mums property. They’re currently with Barclays bank who have informed them they will now renew there current mortgage which comes to an end at the end of the month. Both my uncle and mum are over 50 and mum is self…
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How mortgage works with newbuilts?
Hi all, I have a mortgage offer from Halifax and my solicitor for a new built has it too. Can someone explain how the process works with new builts? I will receive a notice to complete on the 10th of September and then on the 24th the funds need to be with the developer. Most of the money I have in cash, but not sure when…
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Experiences of Masthaven bank
I wanted to find out any recent experiences good or bad for Masthaven Bank. I’ll going to apply for a mortgage with them on Monday as my broker has suggested them for my case. I need a fairly quick turnaround for the valuation to be carried out otherwise I may loose my house Thanks
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Declaration of solvency letter?
Hi Guys, Long story boring, my mother transferred the title deeds of a home to me. Home is not mortgaged in anyway. I am taking a remortgage to "buy" her share out. No currently money owed on it at all. However, the bank lawyer now wants a signed declaration from my mother confirming she is not changing title to me to hide…
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Yorkshire Building Society mortgage question
I find the online banking for YBS mortgage to be very unhelpful. The interest is calculated daily, and the "statement" it shows does not include interest. It only shows my payments, so every month it just says whatever my mortgage payment is. At the bottom it says "interest charged during this period", where the period is…
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Remortgage with poor credit rating
Hi all Myself and partner have decided to remortgage in order to cosolidate debt but we are worrying we won't get accepted. We currently have a mortgage with Nationwide but since we got that my credit rating has changed significantly. It is currently rated as poor according to Experian and I am currently on a DMP with Step…
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High equity, low mortgage debt
Hi. I am in the process of maybe being repossessed. I have a good equity in my house, probably over £200,000 and owe under £30,000, my interests payments are £55 per month. I am about £900 behind. Easy to sort out if I could get a job, but unemployed at the moment. I have bad arthritis in my knees, so when employers find…
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Major Wobble
Hi everyone, It's my first post on here. My husband and I have had an offer accepted on our dream family home, at a good price. We have also had a DIP from Halifax. One a few months ago (which would have been sufficient as it turns out); and another (with new figures from me in case the bidding went higher) in the last…
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Issues with title
I have had an offer accepted and a mortgage offer on a 2 bed flat conversion within a Victorian house. My solicitor called me yesterday and said that there was an issue with the title. The house is split into flat A (downstairs) and B (upstairs, which is what I am buying). The owner of Flat A has a leasehold. The owner of…
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Renewing Mortgage (Pay Day loans)
Hi, wondering if you could advise me. I got a mortgage last year and it all went fine. It was a five year fixed mortgage. One year in and I've taken out quite a few payday loans. Will this affect future mortgage renewal with my current provider (never missed a payment)? If I pay off my payday loans and don't use them again…
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Large Default - Mortgage Lender Required!!
Hi All, We have found a house we love and put an offer in and been accepted, we went to proceed with our Agreement in Principle with Nationwide and got declined. Went with Broker and got declined with TSB Long story short, my Experian report is perfect however, my Equifax has a £8800 Default in June from Ford, this has…
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Time taken from valuation to offer - Metro
We had a valuation on Thu 30th Aug. Report was back with Metro on Mon 3rd. Valuation was spot on offer price.We were told that offer would be with us end of business Thu (yesterday). Just been informed by our broker that it was with a senior underwriter yesterday afternoon and should have been approved by end of business…
