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Mortgages & endowments

Archives for July 2019

Halifax remortgage sp!cial conditions
Hello everyone I have received a remortgage offer from Halifax with special conditions as follows: 1. To sell my house within 3 months of taking up their offer 2. You have told us that any mortgage is not to be repaid and we have agreed to this (???? I am confused- since I want to settle any outstanding mortgage when my…
Right to Buy - Equity Estimate?Having a wobble!
I am in the very privileged position of having the right to buy on my council house but feeling anxious as the only reason I am buying is because I want to move once the mandatory 5 years is up. Is there some way of guessing roughly how much equity I might have in the house after that time? My original calculations were…
Bigger mortgage to decorate house.
Hi, I would like to know if it is possible to get higher mortgage to decorate a house/put new kitchen appliances in/change doors/put flooring down. Maximum mortgage that bank offers us is £200 000. We are planning to buy cheaper house (around £120 000) and wondering if bank would let us take on the top of house price to…
applying for mortgage but dont have a p60
Hi everyone, I am currently awaiting for an offer to be accepted before applying for a mortgage with my boyfriend. We have had a DIP from Halifax through a broker and have organised all our documents for when we're ready to proceed with our full mortgage application which will be with nationwide. My question is, I left my…
How to be in best position
So I'm looking to buy a home (first time buyer) in 2-3 years. I'm saving in a Help to Buy ISA for the deposit and am looking at buying a property for under £100,000 (totally viable in my part of the country for a 3 bed terrace) and I'm wondering what I can do to make sure I am an attractive borrower. I will qualify as a…
FTB - Joint Ownership - No Deed Trust?
Hi, So my (newly weds) wife and I are looking to buy our first house soon. I will be contributing most of the initial 10% deposit (around £25k-27k). Without a deed trust, if the worst were to happen, how would the house money / deposit money be split? Assuming mortgage payments and general living costs would be 50:50, just…
Rocks and Hard Places
Hi all I’m looking for a spot of advice as I’m finding myself in a bit of an odd situation. I’ll start with some background. I’m 37, When I was 25 my parents got divorced and my mother was struggling to afford the mortgage. I decided to get a joint mortgage with her to help. That mortgage has 1 year left to run. The…
Forces Help to Buy Question
Good morning all, I know that this may be a bit of a niche question, but rather hoping that someone may know the answer. Looking at a property will a value of £200,000 Have a MAX deposit of £40k As a sole applicant on £34k a year salary, I seem to be able to borrow £150k. This obviously leaves me £10k short. However I do…
Woolwich mortgage help please!
Hi all I am hoping someone may be able to help. Many years ago my stepfather took out a mortgage with the Woolwich (joint with my mother). He dealt with all the bills etc. When he passed away, 13 years ago, we were distraught to discover that despite paying a mortgage for years there was still a huge amount owing against…
Gifting deposit
Hi everyone, hoping someone can advise. Have submitted full mortgage application last week, valuation booked in Wednesday, hoping to hear back shortly after fingers crossed. FTB if that makes a difference. Have been given a load of forms to complete for the conveyancing and one of them is asking for the source of our…
Confused on deposit cost on shared ownership undervalued survey? Help needed!
Deleted post now
What to do? Feeling fed up! Valuation came back as 20k less!
So we’ve applied for a mortgage for a new build, however at the back of the garden is a substation. We’ve paid £330 for a valuation fee to be done, today it’s come back as it’s not worth the full value of £310,000 but only £290,000 because of the sub station. This is a shared ownership house with Greenfields community…
Mortgage + Additional credit - Is it possible
I am in the process of buying a new build which should be complete by Dec 2019. I shall be completing my mortgage application in Sept/Oct. Myself and my husband are buying a property for £350k putting down a deposit of £120k and taking a mortgage for £230k. (combined salary of myself and hubby = £44k per annum) Once we get…
mortgage share and legal rights
Hi my 1st post so here goes. when i applied 26 years ago for my 1st mortgage my official earnings were just below the required amount so I asked my girlfriend to include her wage figure. she has never paid a penny towards the morgage in that time. officially she has never lived at the address, having a council property in…
Hundreds of ex-Virgin One mortgage customers to get refunds - with some getting £1,000s back - MSE
Some ex-Virgin One mortgage customers are being refunded after a review found the information they were sent about the account could have been misinterpreted and may have led to them making decisions that could have cost them money - such as moving home or re-mortgaging...Read the full story: 'Hundreds of ex-Virgin One…
Mortgage after bankruptcy
Hi, I was made bankrupt 3 years ago and am now 2 years discharged. I have inheritance money which I didn’t think I would, so now have a 15% deposit towards a 170k property and earn 40k. Do I have any chance under these circumstances? And if so what conditions would I be looking at? Thanks everyone
Advice & Support for New Mortgage Application After DMP
Hi I found another thread that mentioned that this area might have some mortgage consultants who can provide some advice and also maybe services to apply for a new mortgage. Happy to provide more details, but as a summary... I was previously in a DMP (it began in 2011 and ended in December 2018). I checked my credit rating…
ERCs applicable on exchange or completion
When do you have to pay early repayment charges? Eg. If my mortgage deal finishes 1st September. If I sell (complete) 1st September, do I pay the ERC?
Joint Mortgage Application question
Hello, My credit file for the last 2 years has been good, repayments met no missed/arrears etc. But I had a couple of arrears 2 years ago. I work and earn the main salary. My wife has a spot on credit file, really high rating etc but hasn't worked for 2 years. So no income. Will it be weighted 50/50 as a joint application?…
Remortgage interest only or invest?
My husband has an interest only mortgage with about 50% equity. His plan was always to sell at the end of the term and downsize. However since our marriage we now have more disposable income. Do we look to remortgage or somehow pay this off. Or are we better leaving it as it is and investing our money. Husband is 60.

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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Mortgages & endowments

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