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Please advise!
Hello guys,me and my gf are planning to get a mortgage. As she is an employee with around 80K yearly could you please advise us would it be a good idea if she apply alone or the chances are bigger when joint applicants. Also i have heard that only last 3 payslips are needed in most lenders,as she cant proof this income…
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Is equity release a good option for my father?
Hi guys. Not sure if this is the correct place to post this, but thought I'd write this here. My father is 73 years old and lives off of solely his pension. He does not have a mortgage on his property any longer (was paid off about 10+ years ago) and has been considering equity release to help him financially. As he is…
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If we sold our house for less than we bought it for..
Hi We bought our house for 325k with a 110k deposit and taking out a 215k mortgage. Say for example we sold our house for 315k, I know we wouldn't be in negative equity but what would happen to that 10k?? Would we owe our lender that money or would it be possible to port it across towards another mortgage? Thanks
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Mortgage Advance Cashback
Can someone please help me understand what a mortgage advance is please? I have just paid my Depsoit and Legal fees to my solicitor. I have asked when I will receive my £500 cashback from Halifax, her reply was..... "The cashback is part of the mortgage advance so there wont be anything additional coming back to you" What…
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Santander Inspection/ Valuation Survey? Whats next?
Hi All, Received an email from EA that valuation survey is booked on April 24, 2019 As we are FTB can some one tell us booking an inspection / valuation by lender means documents have been checked or documents will be checked after that the satisfactory property inspection report has been received by the lender. The…
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Buying below valuation- stamp duty??
Hi, I’m wondering if someone can advise...? We’re looking at buying the house we currently rant off my father in law. The house is valued at £160k but we are able to buy it at £120k. We have applied for a mortgage at a 75% LTV, using the equity. However, my question is when instructing solicitors do we instruct them on the…
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Simple sale or let to buy?
Hello, I would be very grateful for some advice as to whether we should simply sell our current house to buy a new one or if we should look at let to buy. Our situation: Current house value: £500,000 Mortgage: £238,000 Potential rental income: £1,400 pcm House we want to buy: £600,000 Thanks in advance, Bob
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Can a ltd company get a mortgage on the latest years books?
Hi everyone, My hubby has a ltd company (7 years trading) last years books were down in profit as he spent 5 months of the year training for a second trade. This year his accountant has got his books completed quickly as he knows we are looking into a mortgage, hubbys earnings this year are £41000 and mine are £12000. We…
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Remortgaging and underwriter logic?
I’m trying to remortgage to a fixed deal with a new lender, Santander. I bought the house before I was married and husband has never been on the mortgage application or deeds. All was well, affordability not an issue, looking at 59% LTV. Single application so husband’s income not a factor. According to Santander’s…
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Mortgage Offer lower than original on application
Hi We have received our Natwest ReMortgage offer today but is £12000 lower than original DIP was for. This is due to the valuation of the house being £15000 lower than expected. The broker informed us that this has been happening quite often recently. The valuation report states the house needs repair and maintenance. This…
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Have I got a chance of getting a mortgage?
Hello I’m looking for some advice on applying for a first time buyers mortgage via the Help to Buy scheme. I’m a single applicant, earning 40k per year, self employed (Ltd), with 2 years accounts. The new build property cost is £200,000, and I have a 5% deposit. I suspect my credit file will be the biggest issue, with 5…
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Remortgage
Hi there, Is it possible to remortgage my current (solely owned) property (x) in order to buy another property (y) jointly with my partner? Prospectively I would remortgage around £10000 and rent out my current property (x) and move into (y) with my partner. Cheers
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Mortgage Affordability
My ex has recently stopped paying his half of the mortgage on our property. I am unable to remortgage to get the amount I need until later next year due to having to pay £700pcm for childcare fees. The full monthly mortgage payments are extremely high and I will not be able to pay it. I am unable to temporarily change to…
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Two or five year fix
Hello, Just had an offer accepted on a new home. Mortgage adviser has recommend either: HSBC 2 year fix at 1.89% reverting to 4.19% variable £549.85 and then £724.53 HSBC 5 year fix at 2.29% reverting to 4.19% £580.27 and then £712.25. Both have fees of £1324 that will be added to the balance of the mortgage. Property is…
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How to proceed? Hopeless case?
Hi :hello: Looking for some advice re securing a mortgage/secured loan on a renovation property I already own. I have a good job but have had some credit issues in the past, explained below. First the bad. I witnessed the murder of a stranger at close range in 2010; the incident was unbelievably horrific and I was badly…
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How long to fix?
I know the answer is how long is a piece of string I would just like some opinions from people who might have done this more than me... We are in the process of buying a new home (not new build) which we intend to live in until we are old (in our 20s now). The house needs work doing which will hopefully increase its value.…
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Switch mortgage without a mortgage advisor
This question follows my last question here: https://forums.moneysavingexpert.com/newreply.php?do=newreply&p=75701124 and specificlly point two. I would be interested to hear from people who have switched mortgages in the past - I am specifically interested to hear whether or not a mortgage adviser/broker was used. I am…
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1992 mortgage, repossession mess
We're in a huge mess with our mortgage & lender has claimed possession. We could do with some advice on various subjects applicable to our case, despite having done a lot of research. Here are the first couple of queries, any help would be appreciated. * Mortgage from april/may 1992 for 25yrs * Term was due to end may 2017…
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Lifetime Mortgages
Unfortunately my father in law has just been diagnosed with terminal cancer. My wife and I have been going through the finances to ensure my mother-in-law is set and come across a lifetime mortgage that they took out in 2007 for £26k. Looking at the interest on the deal, it’s currently going to be somewhere in the region…
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Seller not concluding missives in Scotland
Hi there, Thanks for your helpful site. I'm a first-time cash buyer buying a flat in Edinburgh after living in rental accommodation, and had an offered accepted on a flat about 6 weeks ago. My solicitor sent the last missive from my side 3 weeks ago. The seller (who is buying another house to move into) has not yet…
