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House on market, do i default/ remortgage/ mortgage to cover new house
Hi, We've had our house on the market and it's a first time buyers type of house. I can't see us selling now until after Brexit. Our fixed term mortgage finishes on 30 sept. I'm not sure which option is the best... 1. to let the fixed term lapse and pay the increased % which can fluctuate 2. get a remortgage on our house…
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Remortgage advice
Hi all, I would really appreciate some advice as I really don't have a clue. In November this year, my two year fixed rate period on my first-time mortgage is up. Will the bank contact me to discuss rates or will I be moved automatically onto the standard variable rate. And how would I find out what that rate is and how…
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Over 60, poor credit rating, can I get a mortgage?
The headline pretty much says it all, over 60, poor credit rating, would like to know if - and where - I could get a mortgage on my existing property? And I'm self empoyed, just to make it easier. On the plus side I own my property 100% and have no mortgage or secured loans and I only need a small mortgage, up to £50,000 -…
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Incentives on new build
We are purchasing a new build with DWH and have reserved with incentives on a free kitchen. They want to add this detail to the transfer document but our lawyer is fighting this tooth and nail as she doesn't think it should be on there. Also, for other reasons that I won't go into, they have had to reduce the value of the…
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Nationwide Decision in Principle
Hi, I've an existing NW mortgage, looking to move to a new property, port my existing deal onto new property and increase mortgage value. As usual, I need a DIP to prove to the EA I have potential access to the funds. I appear to be going around in circles on the NW page and therefore wanted to confirm - it doesn't look…
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Mortgage Offer - The Conditions
Hi, As part of my mortgage application I declared I would be paying off my debts using the equity released from my sale with the remaining going towards deposit. The mortgage offer from Aldermore specifically says this: "You have stated your intention to repay some or all of your existing credit commitments and this has…
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Will we get a mortgage?? Help much appreciated
Hello Guys Me and and my partner are ready to take the next step and purchase our first property, My partner i believe has OK credit as she does not have any defaults, late payments or CCJ's however i think her problem may be the amount of credit she actually as which i will state in this post. On the other hand my credit…
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Interest only with overpayments vs Capital and interest
What difference is there between having an Interest only mortgage with overpayments and a capital and interest mortgage? I'm renewing a 2 year fixed interest only Buy to Let I asked about a capital and interest mortgage, was told they don't do them but that I could make overpayments (up to 10% of balance per annum) This…
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Product transfer/remortgage affecting ability to port mortgage a few months later?
I'm on a poor fixed rate that is coming to an end. I'm also looking at purchasing a new home, probably of a similar value. It depends on finding the right place (we are very picky and the market is small) so could find something in 1 month or 6 months or 12 months or not at all. I'd like to do a product transfer with my…
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Equity release / protecting asset
Hi all, I am posting on behalf of my mom, who has some worries and questions. I'm not sure which sub forums is the best, but here goes. My parents had a mirror will, which stated the estate, including a fully paid house, goes to the remaining parent, then to three children after the remaining parent dies. My dad passed 2…
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Removing Name from Parent's Mortgage
Hi all, I'm looking for some advice please. I have been named on my mother's mortgage for around 6-7 years now, however I want to take my name off in order to purchase my own home. I do not live in the property and haven't for quite some time. My mother has had her remortgage agreed with her lender and it is with a…
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Overpaying Mortgage
Good Afternoon All, I had just had a quick question, if you have a moment please. If I overpay my mortgage by 10% annually (mortgage debt = £171000, monthly payments = £864), is it 10% including the monthly payment or 10% on top of the monthly payment? Many thanks
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less than 2 years to go
My current fixed rate mortgage is due to expire but I have less than 2 years to run until my 25 year term is finished - can someone advise whether I can apply for another 2 year fixed rate even if my term expires before the end of the rate?
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Combined normal/buy to let mortgage
Hi, not sure if anyone can advise but no harm in asking about the unusual situation we find ourselves in. I have had a farmhouse tied to my employment for 16 years, but moved out 2 years ago due to the state of the house. We bought a nice bungalow in the local village with an (approx) 70% LTV residential mortgage over 19…
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Product fee and eventual cost
Hi all, My NatWest deal is due for renewal and I can ‘switch’ deals from today. I’ll be going for a 5 year fix, 90% LTV, 25 year term. The two options I have are 2.81% £541 p/m £999 product fee 3.74% £605 p/m No product fee I don’t have £999 in cash at the moment so will probably add it to the mortgage over the term. How…
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Should I get a mortgage or a loan?
Hi guys Currently trying to purchase a new flat. It needs a bit of work mainly boiler, some internal walls etc. My question is should I use all my cash to purchase the flat and then try and get a loan for the works that need doing or get a very small mortgage so that I have the spare cash to do the improvements? All…
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Negative interest rates
Hi all, I've just fixed for 10 years, I am wondering, if the crazy world of negative interest rates ever did hit the UK, could I take out a second mortgage and use it to pay my normal mortgage? Confused. All theoretical of course! But who knows
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Landmark Repayment to interest only
My brother is appalling with money, but miraculously has managed to keep a roof above his head for 16 years. He took the maximum +100% mortgage back in 2003 with Northern Rock, the flat cost £89,999. Over the years he has fallen into arrears a number of times but most recently in June he was hours away from being evicted,…
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Mortgage application referred due to bankruptcy - I've never been bankruptrup
I wonder if anyone has any advice or has been in this situation before. We're going through a broker and our application was submitted to Nationwide. They have come back with a referred decision and have said they require a “written explanation for Adverse Credit/ Full explanation for a bankruptcy” in relation to my credit…
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Redemption of Mortgage
Hi, I am able to redeem my mortgage on a leasehold apartment but I have to use a solicitor to make the payment, the quotation is £1132, is this fair, necessary or is there a better deal available? My mortgage payment is only £72 a month and I have 2 years left and £20k to pay off. (Interest only).....I feel it’s hardly…
