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NRAM Mortgage balance increasing
We currently have a mortgage with NRAM / Northern Rock since 2003 and we have discovered that our balance is increasing despite being up to date with payments and not missed any. It has increased £600 odd since August 2018. We dug out historic paper work to discover that primary loan, the mortgage, has increased by circa…
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Bank Statements for Mortgage Application
My husband and I are going to be applying for a small mortgage in the next few months. We haven't gone through the process for a long time, and I get the feeling that things have changed quite a lot during the past fifteen years! I've been reading about lenders needing three months' bank statements during the application…
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Strange Barclays recalculation
Has anyone had their monthly payments recalculated at the end of a mortgage year somewhat randomly. My monthly payments will change to be £1 less. The call handler said it was nothing to do with my overpayments but as a result of a system recalculation at the end of the year. My payments have never changed before so I’m…
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Remortgage + extra borrowing. to be or not to be
Hi all, We need your advice on whether to consolidate our credit card debt to our mortgage when remortgaging and get extra. Our 2 year fixed rate term on our mortgage is coming to an end in January. Here are the numbers; House value : £314,000 Balance left: £127,000 Term 15 years. Current rate: 1.69% Me and my wife are in…
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Joint Mortgage with Ex-Partner
Hi all! I’m looking for some advice on a house that I co-own with my ex partner (70/30 split in her favour). When the relationship ended I offered to carry on paying my share of the mortgage as, at the time, she was a low earner and it would of put her under financial strain to pay the full amount herself. The plan was…
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If you own a property already (mortgage all paid) - is the second property still classed as BTL?
Hi there, If you own a property already (mortgage all paid) - is the second property you are looking to buy still classed as buy to let? Or can you get a normal 'living' mortgage for this?
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Advice
Hello everyone, I'm after a bit of advice, due to a change of circumstances I may need to move house. Can you confirm if the below is feasible (i know there a lot of variables etc, but some rough guidance would be most appreciated) Salary 35k Current House Value 130-135k New House Value 190k Deposit if current house is…
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Kensington Mortgage Company-unfair charges £100,000,unfair evictions,ignoring FCA & FOS Rules
Hi, I was evicted on Friday, despite the Financial Ombudsman Service instructing Kensington Mortgage Company not to do so on Wednesday and Thursday. Kensington Mortgage Company Limited has found new ways of unfairly treating those in debt with excessive charges and providing misleading statements to cover this up and…
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Remortgaging for home improvements
Hello, I can’t seem to find anywhere that explains the process of remortgaging for home improvements. I just want to get my head around how much I can borrow, below is an example... House cost: £140k Deposit: £11k Mortgage paid so far: £10k Am I correct in thinking that if I remortgaged I could only get a maximum of £21k…
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Had a mortgage offer from Natwest - Can we make an amendment
Hi all - A help request please. We have had a remortgage offer from Natwest, which includes £50k of additional borrowing. We have signed the forms and got them back to Natwest's appointed solicitor. We are thinking of cancelling the cash advance part of the mortgage offer and just borrowing the amount needed to pay off the…
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Is it normal not to have your own legal representation for a remortgage?
Hi all I'm quite far down the line with my 1st ever remortgage. I'm just about to return all the documentation to the solicitor which was appointed by the lender. I have just noticed that it mentions that the solicitor is acting for the lender only. I had naively assumed they were acting on my behalf. My question is is…
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Death by Interest only mortgage....
Hello all, This is my first post and I am hoping to get some much needed help from this forum. Please be kind! :j I have a £100k Santander mortgage. Interest only (standard variable rate). 19 years remaining. I would like to make a lump sum overpayment and then possibly make recurring monthly overpayments (there are no…
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Reason needed for remortgage equity release?
I am trying to remortgage a buy-to-let property I own in order to release equity from the property. I would be releasing around 80k from the property. But my mortgage broker has said I need to give a reason for why I want to release equity from the property. I wasn't aware providing a sufficient reason was a requirement…
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Overpay Mortgage or additional Pension contributions
Hi All This is an age old question, to which i think the answer is a) no-one really knows and b) it depends on your circumstances... so... any advice at all appreciated! The question is whether to overpay my mortgage or pay additional Pension contributions. I then have a subsequent question regarding which Pension to…
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Reason needed for remortgage equity release?
I am trying to remortgage a buy-to-let property I own in order to release equity from the property. I would be releasing around 80k from the property. But my mortgage broker has said I need to give a reason for why I want to release equity from the property. I wasn't aware providing a sufficient reason was a requirement…
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Remortgaging after maternity leave when self-employed
I was wondering if anyone had any experience with remortgaging as someone who is self employed and has recently taken maternity leave . We’re currently on quite an expensive specialist mortgage as I’m self employed with only two years of accounts and my husband had a very bad credit rating. I’m hoping at the end of our two…
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How long for a Mortgage in principle
Quick question, We are selling our house and accepted an offer 2 weeks ago, however the buyer is saying they are still waiting for the MIP from the financial adviser. Should it take that long, I used L and C for mine and had it within 24 hours. Any ideas or pointers Thanks
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Lifetime Mortgage and Support for Mortgage Interest (SMI)
Hi, does anybody know whether you can claim Support for Mortgage Interest (SMI) if you have a Lifetime Mortgage?
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Looking to move - partner poor financial history
Hi, We are looking to move to a property in the region of £375k After selling our current home we are hoping to have around £150k in equity So looking for a mortgage at approx £225k I currently earn approx £47k a year and my partner approx 42k Our debts are minimal, owing approx 5k on a car loan. This issue is my partner…
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Santander Home Insurance Requirements
I have had a mortgage offer from Santander, I'm now considering affordable home insurance. The terms and conditions of the offer spill off alot of things that need to be covered. Does anyone with a Santander mortgage have any suggestions of a home insurer they accept? Or probably more specifically the ones they dont. I was…
