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Completion statement
Hello, what is a completion statement? Is it something that needs to be signed and returned to our solicitor? Or Is it outlining what remaining funds we have to pay our solicitor for their services? We have paid our deposit, the solicitors have requested our mortgage funds from the bank. Just trying to understand it, my…
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Equity Release - Too good to be True!?
In the Daily Mail (yes I know.....) Mail Finance section today they have their usual 4 page supplement, "Could releasing tax-free cash from your home be right for you?" It states in the blurb: "The most popular form of equity release, a lifetime mortgage, also allows you to continue to own 100% of your home." Surely this…
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Finding out about parents’ lifetime mortgage
Apologies if this question has already been answered on here, but we are looking for advice about lifetime mortgages. We recently discovered that our parents took out a lifetime mortgage in 2000. Our father passed away recently and, while going through the paper work, discovered a detail quote for a second lifetime…
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Product Transfer Offer - legally binding
Hi there, I was sent a product transfer offer that on subsequent inspection contains multiple errors: * No early exit penalties * No product fee stated If the lender accepted my paperwork without corrections does this form a legally binding contract between lender and myself? Rom
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Nationwide mortgage process from DIP to full application
Hi, Wondering if anyone can give me some advice please!! Currently going through the process with my partner of applying for a mortgage with nationwide. My partners credit history is excellent however mine is poor, I understand that lenders dont necessarily see your score as this has been pointed out to me previously…
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Need advice on porting mortgage 😊
Hello! Any advise would be appreciated 😊 Bought house a few years ago for £185k, deposit was £30k and currently have £136k on mortgage. Would like to port mortgage as currently stuck in a fixed mortgage. What’s the lowest value of house I can move too? Unsure how LTV works, do I need to buy at £185k again? And keep the…
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Paying off HTB
Hi all My 5 years is coming up in December and I want to pay the HTB loan off in full either with a further advance from my current provider (nationwide) or remortgage with additional borrowing elsewhere. As well as this I want to borrow a little bit more for converting my garage. I spoke to nationwide about the process…
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end of term of NRAM mortgage and in negative equity
I am soon to be at the end of term on an interest only buy to let NRAM mortgage, they will extend my mortgage providing I go on a repayment mortgage at the same mortgage rate over 7 years I am on 5.99% int rate, the mortgage is 98kI can remortgage with Birmingham midshires on an interest only at 2.3% making the payments…
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Porting Mortgage to a Higher value house
Hi All. Myself and my partner have two properties, and are looking to sell them both and buy a property together. Within the last year, we have both re mortgaged our flats for better rates, and have both got no ERC on them. Am i correct that i would only being able to port one of the mortgages? They are the same rates, but…
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Gifted Deposit
Hi, I have lived In my home now next to my neighbours for 5 years, there daughter has come to buy my house but has asked if I can gift her the deposit. The house is worth 125000 and has been on market for 130000 just for slow sale. She is going to buy it for 130000. Then has asked if I can gift her part of the deposit. She…
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Ftb advice for new build mortgage
Hello all First time posting but avid lurker on the forum. I am looking for advice on my situation. I am looking at buying a new build property, not yet built but will probably be released for sale off plan in coming few months possibly towards end of year. House I am looking at £165k My earnings are£28800 on top of this I…
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Help and advice require
Hi everyone we have been in our current property for 10 years under a LYFT scheme so will need to pay government back their deposit when we move and easiest option for this appears to be part exchange. We have found a new build property and they are offering us 100% part exchange price with free flooring. I contacted a…
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Seller suggests using same solicitor is this a good idea?
We have offer accepted and seller has suggested to use same solicitor to speed up the process, is this a good idea, we like the sound of it as we would like things to go without any delays. One solicitor we approached wont do this but isnt this easy money for a solicitor if they can work quicker representing both…
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Buying after Brexit- especially if house prices crash
So with Barclays letting us down on the house we wish to purchase & not knowing if anyone else will lend us the required amount (with reasonable interest rate) until after April 2020 (so to have 2 years self employment tax returns evidence), there’s a very good chance we will be going into rental in September/October. With…
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Barclays AIP vs Mortgage offer
We have been wanting to up move & finally felt we were doing well in terms of job stability, finances- kids settled in school etc- so we approached our current mortgage providers Barclays to get an idea of what we could afford. My partner is full time employed & he also does additional work where his pay is classed as self…
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Nationwide Fixed rate ending
Hi, our 5 year fixed rate with Nationwide is finishing in January and wondered if anyone knew the process for switching to another deal with them i.e do they do a credit check, affordability check etc. We only have about 8 years left and about £43,000 outstanding, we are not wanting to borrow anymore or change the term, I…
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Buying my parents house, no deposit
My girlfriend and I are going to buy my parents house as they are relocating to another country. The issue we have is we have no money for a deposit. We were wondering if it is possible to apply for a mortgage, and use a gifted deposit from my parents, which they would have from the sale of the house. For example, we…
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Is now a good time to move UP or should we hang around until after October?
Thinking of trading our house up for a brand new one but wondering whether no deal Brexit in October will cause house prices to crash down Is now a good time to move UP or should we hang around until after October?
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Payment options of stamp duty
Me and my wife have a offer accepted on a house £304k we have 10% deposit with borrowing of 3K from friends. We thought we were first time buyers but my wife took out a mortgage 20years ago so we have now been hit with stamp duty £5200 bill. We are not in debt and have no overdrafts in use, and credit cards are free to put…
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New mortgage application - declined Halifax
Hi All, I’ve already gained some good insight from this forum but was hoping someone could provide some advice (comfort at a nervous time) on our specific situation please. We have found and offered our our dream home! I hadn’t got an AIP as I was awaiting a final default to drop off my credit file this week - now my file…
