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looking for mortgage broker advise please
hello im just wanting rough advise on my situation. looking at a new build £165995 purchase price £41000 deposit (5% and help to buy) £124.500 mortgage needed bit of back ground im 28 working part time with annual income of £8000 plus £1800 child benefit (i know some lenders take that into account as income) my partner 30…
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TSB mortgage - have you had problems
I have just had an excruciatingly painful telephone conversation with TSB's mortgage department about changing the interest rate on my mortgage - I am an existing TSB mortgage customer - which has led me to make a formal complaint to the bank. I want to urge anyone who has had the same problem to complain so that TSB…
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mortgage
Hi My husband wishes me to take out a mortgage on my income as our mortgage expires at the end of the year as is interest only. But I am reluctant too as I wanted to change jobs and we could sell part of the garden ( that has planning permission to build a house on) to cover the cost of the mortgage. any advice please.…
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remortgage & change house deed
Hi, I've split up with my husband. We have a joint mortgage and the house in both our name. He wants his name removed from the mortgage and has paid nothing since our split. I managed to get a remortgage offer and in the process of legalising it. My question is, is it better to use the solicitor for the whole process…
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Revised mortgage with higher LTV but same rate?
We're currently in the process of buying our first home. We got an original mortgage offer based on the agreed purchase price which was at 90% LTV. Subsequently, due to work required, we've negotiated several thousand off the price. We've had a revised mortgage offer from our bank. The amount they are lending us is…
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Mortgage Newbie - Fixed Term periods
Hi, I am looking for my first mortgage and would like some guidance regarding fixed term durations. I have been given quotes by a broker for a 2 year fixed at 1.74% initial or a 5 year fixed at 2.04% initial. I keep reading that interest rates are predicted to increase, especially if Brexit sorts itself out. I don't plan…
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Renovation, how does it financially benefit you without selling?
Hi, Simple newbie question here, I do wonder how you financially benefit from adding value to a property that you plan to not sell. For some simple numbers and ignoring factors of price changes, fees etc, A house is worth 300k that needs some work, You put down 30k deposit and keep 20k to renovate. Your mortgage is 90LTV.…
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Conundrum - what would you do?
We are about to complete on a remortgage fixed for 5 yrs, 260k We suddenly have 25k cash available should we A) make a 1 off payment to reduce mortgage ( have checked and mortgage will accept overpayments) B) make a 1 off payment into a new pension and hence get 25% uplift, or, C) some other wise way to use it. Maybe half…
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Alternative mortgage options
Hi My Wife and I are applying for a mortgage at the minute. I have a good credit score but with a mixture of large debts I had in the recent past (just paid off) and a 4 year old default (Just settled) on my wife's credit file, our mortgage broker said we only have one lender who has any chance of offering us a mortgage -…
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Locked into expensive mortgage
Hi, I've been looking through the forum here for a number of years but this is my first post. Due to disability I've been off work for around a year and a half, I'm getting universal credit and a portion of PiP (after months of waiting and appeals, apparently it doesn't matter when I slip or fall in the bath/shower, it's…
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Natwest Mortgage Transfer Rates
Can anyone advise how often these are changed/updated? I'm viewing the intermediary product transfer rates PDF and this was effective from 16th May. I'm due to remortgage in a month or two. Thanks.
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Business Owner - Halifax Mortgage - new deal
Hi All, I currently have a Halifax Mortgage around 50% LTV. I am a business owner and paid a low salary plus dividends, my wife has a full time salary but salary sacrifices (pension) 50% of her salary so earning may appear low. Every 2 years we use an IFA to process our "switch" to a new deal with Halifax due to the…
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Precise mortgage 1st time buyer
Hi guys so Ive read through this loads of posts last night as I needed information. Shutting it TBF as we really didn't think we would get a MIP Me and partner have both got crappy credit but we've been to see the mortgage advisor who went through everything with us and low and behold we gotva MIP(me and my partner didn't…
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Income multiple flexibility
Hi guys, I know that maximum loan size is based on a multiple of income, usually between 4 and 5x income. For any one bank, are they allowed to tier their income multiple based on actual income? As an example: income between £20-40k, max loan size is 4.0x income. Between £40-60k, max loan size is 4.2x income. Above £60k…
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Which mortgage type?
Hello there! Looking for a 14 year mortgage and wondering what type to get either a Fixed Rate (for say 5 years) or a Tracker. From a broker, we've been offered, in principle, a 5 year fixed rate at 2.29% until 31st October 2024. Having looked on websites at other mortgages I can see that Halifax are offering a 5 year…
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Halifax Declined Remortgage due to credit check?! - HELP!
My husband and I bought our flat in January and we knew there would be refurbishment work required but we didn't know how much. Now that we've sunk our teeth into it, we've realized there's a lot more work required than we had anticipated so we waited 6 months to be able to remortgage and I called Halifax this morning to…
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NRAM Compensation
Hi, i’m new and not sure on the terminology etc... so go gentle if I sound ignorant. I received a check in the post from NRAM for £4.84, under the title ‘remittance’. I called them to ask what is was for, and they say it’s an error on my mortgage that I took out in 2005 and ended in 2014 (through selling the house, no debt…
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Release Equity/Remortgage for Wedding
Hello, i recently contacted my mortgage provider about the possibility of remortgaging/borrowing more/releasing equity to help fund my wedding & home improvements. After going through the affordability check over the phone i was declined. I have never missed a payment and lived at the property for 7 years, and the mortgage…
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How much to remortgage?
KurriKawari Am usually great at understanding stuff like this but remortgaging has got me stumped! I have seen a property that I want to buy. I currently own a property that has increased in value, I want to release the equity in this to help pay deposit of the second property. I will sell first house as soon as I can,…
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Interest Only Mortgage Redemption Figure is £30k more than original amount!
Hi, I’m a bit naive when it comes to mortgages so looking for some advice please. I had a capital repayment mortgage, tried to sell house but the market crashed (c2008) so I remortgaged it to release some equity to build an extension at my new house. At that point I changed to an interest only mortgage in the belief that…
