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Tax computation & overview
Hi everybody. Me and my girlfriend are applying for our first mortgage and we've been asked to provide some additional information to our mortgage broker as I am self employed. This is a tax computation and tax year overview. As I complete and submit my own self assessment forms (everything declared) I'm not sure how I get…
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Gifted Deposit
Gifted Deposit from Partner Basically my very first home is due for completion on 30th November. Everything has been plain sailing until now, I received a phone call from my solicitor on Wednesday to explain the bank isn't satisfied with my partner gifting the deposit and residing in the address. Regrettably we both saved…
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Mortgage Declined - Shared Ownership
Hi everyone, I’m writing this in the early hours as I’ve worried myself sick over this & can’t sleep. Found the house of my dreams on a SO basis. Was accepted and paid a £500 deposit to secure. Have used the financial advisor the housing company recommended as they prefer to have completion within 28 days and the advisor…
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Mortgage Maths!
I am looking at purchasing a new build and for the part exchange offer, the developer is offering a cash incentive to meet the shortfall between their part exchange price and what we would likely obtain if selling our house normally. I'm factoring in the convenience, lack of estate agent fees etc but unsuccessfully trying…
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Loan Payment Holiday
We are eligible to take a payment holiday on our loan with our bank. My question is if we take this does this show up on your credit file and would it affect a mortgage application in the new year? Tia!
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Mortgage care cover help!
Do I really need both Accident/sickness and critical illness cover with my mortgage? Are they not the same thing??
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Can flat refurbishment be classed as a new build?
Hi all, I purchased a leasehold 2 bedrooms flat about 6 months ago and it was in need of renovation since it was empty for almost a year and I couldn't move in until it was done to a reasonable/liveable state. The flat is in a block with 13 other flats and it was built in 1940s or 1950s I think. So, before moving in, I…
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Valuation on House....
We have decided to remortgage with another lender to consolidate some debts. We have been approved for the mortgage subject to wage slips (which are absolutely fine) and valuation of the house. We were asked what asked what the value of our property was.... based on Zoopla our house is worth £202k, we said realistically it…
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Tax Relief & Mortgages
Hello, Does anybody know if lenders take in to account tax relief in the same way they do tax credits? I receive a significant rebate for business milage each year as a lump sum - which would have a positive effect on the amount I can borrow if taken in to account. Thanks
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Manual mortgage calculation
Hi all your be glad to know I’m back. Earlier this year my mortgage provider privacy and data department made me a financial offer (refused) for stress and inconvenice for their delay in providing me with mortgage reconciliation statements which had to be re done due to error. (however they have still not issued a complete…
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Is this mortgage amount possible?
Hi :) We are looking at upsizing and just wanted to see if a mortgage of £250k would pass lenders affordability on our circumstances before we start talking to the sales advisors ! The property we are hoping to get is £350k and we would being using the 20% HTB equity plus put down a additional £30k to give us £100k deposit…
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Company director - how much to take in dividends
I am a company director and 50% shareholder. My wife is also a director and a 50% shareholder. We are looking to buy our first house in roughly August 2019. We have roughly £40k for a deposit, maybe a bit more. I don't know how much we're going to want to spend on a house but I would guess £300k-ish. In the 17-18 tax year,…
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FTB - Virgin Money Mortgage
Hi all, So I've sat and read every single possible thread I could find on Virgin Money mortgages! My timeline looks like the following; 05/10/18 - Offer Submitted (House listed for 90k and offered 82k due to it needing a new kitchen/ other bits) 05/10/18 - Offer Accepted 06/10/18 - Mortgage application submitted and…
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Can I remortgage my house to buy a workshop?
Hi all. I’m happy to say that at the grand old age of 49, I’ve finally managed to pay my mortgage off...yey! Anyhow I’ve seen a nice little workshop near me that I’d like to buy....I must be missing having a mortgage! It’s selling for about a third of what my house is worth so I was thinking of remortgaging my home to buy…
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Impact of credit history on re mortgage application
Hello, I am about to request a remortgage on our home as we are getting an extension. I have had a look at my credit history through the credit club on this site and it says we are using too much of the credit available to us, eg we have a couple of credit cards that are nearly up to their limit. I didn’t want this to…
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mortgage switch
A couple of months ago we were thinking of moving. This is no longer happening so we have decided to stay put! My current fixed rate ends in January so I want to be proactive in securing the best possible rate for our new product. We have 50K ish of unsecured debt. I have a thread for this on the DFW boards and am doing…
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Amount you can borrow based on rental income with buy to let mortgage
I'm wanting to purchase houses using buy to let mortgages. The only type of lenders who will lend to me are those who base the amount they'll lend you entirely on the rental income of the house in question. This is because I don't have any income as I'm newly self employed. So could I just use a standard buy to let rental…
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overpay mortgage
hi we are looking to overpay £100 a month on our mortgage after xmas also i can get a new deal in early December hopefully lower rates had our house valued at 240k so good ltv . is it best to spread the overpayment over all three parts of our mortgage or just the one or two ? if so which is the best thing to do please ?…
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Help please...
I was hoping someone could help... Our sale has fallen through today and I am panicking as we had reserved a new build and was due to complete in 4 wks along with the sale of our place. Now what are our options.. originally we had a mortgage agreed with Halifax for a purchase of £399,995 (through David Wilson) which…
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Halifax mortgage with defaults
Hello, i was wondering if anyone could help? We have just applied for a mortgage with Halifax. We have a 10% deposit, my husband has a steady income earning 34,000 before tax annually, i am a stay at home parent. However we both have settled defaults on our credit reports, my husbands was for a credit card which racked up…
