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Switching equity release mortgage
Asking on behalf of my lovely 84 yr old mum.... She has an Equity Release Lifetime Mortgage from ITL Mortgages (administered by LV Equity). It's for £134,000 Key Equity Release have written (unsolicited) saying they could get her a better deal with advice fee of 1.99% (seems like a lot to me!) I'm sure if she rings them,…
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First time buyer high deposit and default
I’m hoping somebody can give me some advice regarding a mortgage application for a first time purchase. We are in a good position in the sense that we have a large deposit of £130k towards a property with a value of roughly £220k however, my husband has a recent default on his credit file and we both have a fairly low…
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Easy to switch from fixed rate to Interest only?
My partner and I have recently broken up and one of us is going to live in the house for another year until we decide what we are going to. We are currenlty in the third year of a fixed rate mortgage but we are considering switching to interets only for 12 months. Can this be done from a fixed rate to interest only? Would…
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Buying partner out of mortgage
Hi all, sorry if this is a simple question! I'm trying to work out if I can buy my partner out on our house. We have £97000 remaining to be paid on our mortgage. When we took it out I contributed the £17500 deposit and this is protected by a deed of trust that states that if the house is sold on break up, it has to be…
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Anyone have positive mortgage bankruptcy stories?
Hi, Just wondering if anyone here as managed to secure a mortgage 2 years discharged from bankruptcy, and what deposit/rates were required? Thanks
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Mortgage overpayments not reducing my monthly payments??
My monthly repayments are £430 but I pay pay £830 every month yet my repayment amount has remained the same. I thought maybe they recalculate at the end of the year but I'm not sure as I made 2 overpayments of £400 in the previous financial year but the repayment remained the same to the penny. Their (Barclays) mortgage…
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Anybody switched deals with Virgin Money as existing customer?
Hi all, Has anybody switched deals with Virgin Money at the end of their current deal? I am currently with them on a 3 year deal and have about 7 months or so to go but just want to be prepared, as I started a new job (higher pay) a few months ago so I'm not sure how it will affect my affordability criteria. Are we still…
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Would a house move within five years (even six months!) stop you from fixing for five years?
My fixed rate recently expired and I am now on the SVR paying an extra £150 PCM in interest payments. I am planning to move to a fixed rate within the next week. I am planning to fix for five years. I have chosen five years because my LTV is below 60% (best bracket I believe) and I believe interest rates will go up over…
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New purchase valuation v remortgage valuation
Hi all, Just wondered what your thoughts were. We bought a new build for 283k in September last year. We had to port our mortgage as we had ERCs. 7 months on those ERCs are done and we are looking to remortgage. Now I am hoping the valuation comes back at what we paid for it however am i right in thinking new purchase…
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Remortgage or Loan
Am suffering with headfry so I hope someone would be kind enough to help me! My partner is leaving me in my home which is worth about £290k with only a £20k mortgage outstanding (13 years remaining). My only other debt is under £400 on an interest free credit card for my car. I need to take back over the mortgage (which…
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Nationwide Mortgage Re-application
As Our house purchase is taking literally forever we now face the prospect of our offer expiring. Assuming we reapply for the same deal with Nationwide(there rates haven't changed) are we likely to be able to fast track it or will it need to be a full re application along with the usual proof of income, identity, etc etc?…
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Do I need to sign my mortgage offer?
I’ve just got my paperwork through for my mortgage and do I need to sign it off and send it back Or does my solicitor get us to sign it ?
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House value conundrum
Afternoon all, I've got a bit of a conundrum with our mortgage valuation. 2 years ago we purchased our property below what the property was advertised at. It was on at £220k, which took into account work needed (was a bit of a state). We negotiated to £210k, which compared to surrounding properties is relatively cheap…
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Need additional borrowing, but I am already on a fixed deal for 2 years...
I'm on a first time buyer scheme where I own 60% equity in my flat and the government owns 40%. I could easily afford the repayments for the full 100% but unfortunately I did not meet the income requirements so when my initial deal came to an end I took out another deal to essentially half the interest rate. Now a few…
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Bank statement activity
In preparation for applying for a mortgage, could someone offer some advice as to what kind of activity on our bank statements might affect our chances of getting an offer? For example, my partner likes a Saturday flutter on a football bet, he’s sensible so it’s nominal amounts eg. £1/£2 bets but it’s regular, I told him…
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Joint mortgage with CCJs
Hi all. I’m currently looking at getting a joint mortgage with my Thanks in advance.
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Conflicting Information on FTB Status
Hi all! I am getting conflicting information from my broker and lenders about if we are a FTB. My boyfriend is Italian and has a house in Italy that he has a mortgage on and rents this out. He will be keeping the property as he gets rental income from it. My broker which is recommended in Martin's "First Time Buyers…
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Remortgage options, 2yr fix
I've been in my first house for 5yrs and it's time to renew the mortgage for the first time. I'm looking through options and am considering 3. Any opinions would be welcome! - 2yr fix - ~£100k - <40% LTV 1. Santander: 1.74%, £0 fee, 2yr fix 2. Barclays: 1.63%, £299 fee, 2yr fix = +£72 over term 3. First Direct: 1.58%, £490…
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Low income mortgage
Looking for some advice on here before approaching a mortgage advisor. I earn approx 13.5k (gross) from two part time jobs, both within the same school. I also earn approx £300/month (net) overtime, 11 months of the year. None in August because of the school holidays. In a few months, I should have a deposit of 70k…
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Its Friday Night Lets compare mortgage payments
Go. Mines £450
