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Lifetime Mortgage. Scottish Widows. 2004
Hi, I’m wondering if someone can help me. My parents took out what they thought was a lifetime mortgage in 2004. We were perfectly happy with this arrangement and I fully supported this. We were fully aware that there may not be much left over but they had good uses for the money etc etc. 15 years on, and Scottish Widows…
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2 or 5 year mortgage product? pros / cons?
Hello I hope it's ok to post this question. Our current mortgage product is about to expire, and we have found two comparable mortgage products to what we are currently paying. One is a 2 year product, and the other is a 5 year product (fixed rate mortgage) What would the pros / cons be of choosing to go 2 years over 5…
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Paying of mortgage early
Hello I paid of my mortgage 5 years ago and have realised I’m still paying the life insurance that the bank sold me, should I cancel this and should this of been cancelled at the time of paying off my mortgage and by whom.
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Best way to proceed with mortgage application
My partner and I are currently trying to secure a mortgage to buy our first house. We went to see an advisor today but he seemed unable or unwilling to answer a big question I have. We're going back for another appointment at next week to hopefully sort an AIP but I'm unsure the best way to proceed. We are unsure if we…
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“The Mortgage Lender” processes
Hi all, I know this has been asked before but I couldn’t see for the specific lender. We are about 3 and a half weeks into application process with The Mortgage Lender. Our broker has been amazing, he requested a hold on valuation until they had approved underwriting. Valuation was instructed on Monday and they’re going…
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New mortgage
Help required please Just finishing a long divorce process and financial settlement I have been approved for and had a mortgage offer from halifax We had a secured joint loan on the FMH with step one finance The mortgage on the FMH is being transferred to my exes sole name as are the deeds however step one will not…
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Mortgages PLC & Rooftop Mortgages
Hi have received a letter today from MPLC regarding the "sale" of our mortgage to Rooftop Mortgages, letter dated 7th sale goes ahead on 12th (5 days). Have called MPLC cant give me any update as to why the account has been sold just its in the terms and conditions that it can be sold. Have googled Rooftop and am worried…
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Remortgage and deposit question
Hello, What happens in the scenario where there has been a big uplift in your property value and if you remortgage your existing equity takes you out of the LTV band (say 75%)? Do you have to put the extra money in or do they lower the value? Thanks.
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Should I close unused overdraft prior to mortgage application?
As the title says, I have a small £400 overdraft which I never use. Should I close this prior to making a mortgage application or would it make no difference either way? Thank you
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Nationwide - credit report....
Should be exchanging this week with a view to completing 2 weeks after....fingers crossed. Who do nationwide use to view credit reports? Is it still experian? I was thinking of checking my report to ensure nothing had changed since offer of the mortgage but wasn't sure who was best to use. I know my credit score has gone…
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Precise Mortgage
Hi, advice/reassurance needed. We have applied for a mortgage with Precise yesterday due to my credit history (2 defaults in the last 24mth - latest 10 months ago). DIP was approved and full application submitted yesterday. I have a couple of questions that I am looking for recent experience on; 1) How long have other…
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Switching mortgage product part way through application/ offer
Hi All, I hope you can help. I applied for a new mortgage with NatWest for a new property purchase. The rate was 1.53 back in August at 80%LTV. The application process has been slow and with some hiccups but the valuation was carried out yesterday and I can see on the mortgage tracker that NatWest have issues the offer…
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Non Standard Income Mortgage
Thanks for the advice received, can class this as closed.
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Sainsburys Bank and the recent news
Just looking a bit of advice please. Sainsburys Bank recently reported that they are removing themselves from the mortgage market. I am aware they are honouring existing applications. I'm currently going through a house purchase with a Sainsburys Bank offer. 5 year fixed. This news has spooked me, however am I…
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Adverse buyers - landlord has offered to sell to us
We have a great relationship with our landlord and she has said they would happily sell us the house next year if we are ready to buy, which is fab news as that would be the perfect scenario for us. Does this make things more complicated with a house sale, or more straight forward? We will be a slightly quirky case as we…
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Separation - fund 2nd property by remortgaging family home
I would really appreciate your advice. Husband and I are separating amicably. The family home has an interest only mortgage of £80k, property value £360k. So far so good. The majority of the original mortgage was repaid with my inheritance. In view of this and complex care of one of my children we have agreed that in the…
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What type of mortgage for second home? No other mortgage.
If I have already paid off main home and am looking to buy another house as a holiday home. Is it just a normal mortgage? I know I have the stamp duty to pay but as far as the mortgage I didnt think iit should be specific to second home. However the lenders seem to be saying I need 25% deposit (I have around 15). I thought…
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Interest only question.
daughter has 120K interest only mortgage. has never paid off any capital mortgage term ends in 2029 intends to NOW start paying off any lump sums she can, but NO WAY will she clear it. She knows she will inherit minimum 100K when we pop our clogs 78 + 76 now. AT PRESENT, house worth 200k and the 120K owing, who knows value…
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Mortgage Advisor deal more expensive than expected. What am I missing?
Hi I have recently been talking to a mortgage advisor, mainly because I'm pretty new to the whole thing and felt like I needed a bit of hand holding. Before seeing him, I did some research of my own so that I knew roughly what to expect. I know that I want a 5 year fixed mortgage by the way. He came back with something…
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Consent to let on a house I’m going to sell?
Hello! I’ve owned a house in London for 6 years. Last year I moved to the USA and decided to rent it out. I thought I would keep it for another couple of years, let the brexit turmoil rest and then Sell it. I didn’t get consent to let from my lender (Santander), yet. My current fixed term expires in December 2019 and the…
