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Does aldermore bank do a final credit check
Hi this is a question to those who have used aldermore bank. So I've had a mortgage offer in the post and all is well. Just waiting for the solicitor searches to come back and then completion. I know some banks do final credit searches, but does aldermore do them? Anyone know this answer for definite
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Credit card debt and mortgages
How does credit card debt affect mortgages? For example, my wife has a cc balance of £650. I have a cc balance of £330. We're reluctant to reduce it with our savings as we need as large a deposit as possible. Will this affect our ability to borrow?
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Applying for a mortgage
So I did some research early on in the year saying if you've previously been bankrupt to use a broker from the outset as a rejected mortgage application is extremely detrimental and they will know the best banks to apply to. Bearing in mind my bankruptcy was Jan 2013 and now off my file. So I had a look at Natwest and it…
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Overpayment dilemma
I have a £71,000 balance left on a 5 year fixed rate. Current repayment £1437 pm Fixed interest 1.94% until mid 2023 I've been paying £600 pm overpayment, but this year onwards we'll exceed the 10% allowance. Dilemma - Do I bank the money once the allowance is met, for the following year. Or maintain the overpayment and…
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Question about surveys
Hi all. Were going for a new build and have started the process, valuation fees just taken today. The build will complete in 4-5 months. Question is if we instruct a homebuyer survey to be done once built and before completion can we still haggle on the price or get free upgrades? Or will this be too late? Thanks.
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Mortgage Broker required?
Hi Me and my partner are looking at buying our first property together. We have a combined annual salary of £37k and a deposit of £40k. We are hoping to buy a property for maximum £175k. So with a £40k deposit, we would be looking at a mortgage of £135k. Do-able? I also own a property outright which is rented out on an…
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Mortgage advisor and solicitors
Hi all, So we live down south, looking to buy up north, 180 miles away. We want to approach a mortgage advisor before applying as I was bankrupt 6 1/2 years ago and not sure how this will affect an application. (Or will it???) But I'm wondering, would we be best speaking to an advisor in the south or the north? And would…
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mortgage deposit
Just wondering, when you apply for a mortgage and get your offer in principle, say you tell them your deposit is £20k, do you need the cash in the bank then or at point of completion? E.g. atm we have £13k, but looking to complete around December which at that point at our current rate of saving we will have achieved the…
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New build conveyancing (bill higher than quote)
For those who read my earlier posts I'm pleased to say we have now exchanged contracts and just received our conveyancing bill. Unfortunately the bill is considerably higher than the quote and I'm fact checking to see if this is acceptable or if this is something we should dispute. Background, we are first time buyers, we…
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Dying in negative equity with charge and no assets
Sorry if this is in the wrong place - let me know if there's somewhere else it should go. I also apologise for how long this is going to be! My FIL has been diagnosed with a terminal condition and told he has 2-3 months to live. He is currently living in an assisted living on a rental basis with his new wife. He 'owns' a…
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Incorrect amount on Mortgage Terms
I’m buying a shared ownership with my husband and when initially we got accepted for the mortgage it was under the conditions that I had £1250 on my PayPal account and that I was going to pay off £250, however looking on my mortgage contract that I already signed it says it was an outstanding PayPal balance of £250 when I…
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Commercial Lease Problem
We have a tenant on a commercial lease who is being difficult! He has had the property since 2014 and has been acting up for the past 18 months or so. His lease ends in 2020. His rent is due on the 1st of each month but for the past year or so, despite being told nearly every month that his rent is due on the 1st, he pays…
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Is having your property down valued by the lender common at the moment?
Just had an offer accepted, which we were over the moon about. Then a colleague at work mentioned that we should be careful of having our property down valued by our lender and potentially having to find a lump sum of cash (which we definitely don't have). The property market is hot where we've bought, with houses going as…
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Remortgage Advice/Joint Ownership
Hopefully someone may be able to answer the below as we keep finding ourselves returning to square one.. My partner and I jointly own a property alongside my parents which we all reside in. We have a 4 named mortgage with Nationwide, which at the time of buying the property, we were informed all four of us had to be named…
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Declined for addtional borrowing - the amount is lwoer than Original Mortgage
Hi Just looking for some advice to assess my options if any. I rang my current mortgage provider and asked about what my limit would be if I was to look at moving house. I am 1 year into a 5 year fix. After a quick affordability check they said they would offer £110k ( or £25k less than my current mortgage ) - I found this…
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First time buyer with property abroad
Hello, I was advised by the mortgage advisor to keep it quite that I own house abroad to avoid stamp duty & qualify as a first time buyer. I was gifted my nans house but it is with limited contract what means that I can not sell, lease or do anything else with the property while my nan is still alive. I also own share of…
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Short term lump sum from bank of mum & dad
Be gentle im a newbie. Essentially like to remortgage for extension. Like to borrow £300,000 to pay off existing £200,000 and fund build. Can get £100,000 short term (6 mths) loan from bank of mum and dad. So was thinking of getting remortgage agreed (with 6 month to complete) then paying lump sum off current mortgage such…
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Mortgage and working for family in new start up. Problems?
Hi there, my sister has recently started a company within the last few weeks, she's investing a lot of money into this business and she is about to take me on as an employee of this business. I'm going to be leaving a very well paid job for which I'll be earning about 15k extra a year working for my sister earning well in…
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Overpayments- Lump Sum vs Regular to Save Interest
Hi All, I am planning to overpay on my mortgage by about £600/month. As Santander re-calculate their interest rates daily i've been told that it is better to overpay monthly/weekly rather than a lump sum at the end of the year. I'm told that this reduces the overall interest I will pay compared to the lump sum method. Can…
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Beware When Making Halifax Overpayments if your mortgage is around £250k
If you are applying for a mortgage, it's dangerous to assume that a lower LTV amount will result in lower costs each month on your mortgage. For example, a loan of £242k can actually be more expensive than a mortgage at £252k on a house worth around £323,250 when applying via the Halifax. For example: 5 Year Fixed for £242…
