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Help: Mortgage Options & Advice
Some while ago my grandparents took out a Hodge Lifetime flexible mortgage whereby interest of 6% was added daily on the sum. Since then they split the tenancy 50/50 to become tenants in common and my my grandfather left me his share when he died. My gran is going to be moving into care and wants me to move in when she…
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Debt in retirement
This is my first post on MSE so please tell me if I’m posting in the wrong place. I will try to keep it simple. I have a small BTL portfolio and a home, combined worth 1.2m, mortgage debt 580k. I am 50. If I can keep my small business running at a profit, I think that potentially I will retire in 15 years with 1.5m in…
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Overpayment timing
Hi We are looking to overpay on our mortgage, just wondering if there are any considerations as to make an overpayment e.g. pay before interest is applied? We recently switched our rate and reduce our term to pay it off sooner than later, I am aware we can overpay up to 10% but not sure if there is a right 'timing' to also…
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Re-Mortgage Question
Hi, A little confused here. Coming to the end of my fixed rate term in about 6 months time. I’m considering going into the loft and creating an extra bedroom. Now here is where I need a more insightful person to help. If I was to get a loan for the work. When I come to remortgage will they then revalue the house like when…
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Precise mortgage and self employment
Has anyone got a mortgage offer from precise, self employed and didn’t have an accountant? So worried they are going to turn us down they’ve asked for so much information from us.
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Fixed rate mortgage overpayment question
Hi, I currently have a 5 year fixed rate mortgage for £55400 with a 2.2 interest rate, and when finished in 2024 will complete the payments for the house. I have 4 years and 3 months left to pay and am now in a position to make an overpayment. I can over pay up to 10% each year. The bank has told me I can’t reduce the…
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Halifax Mortgage - Problem with HTB
Hi, This is my first time to post here. Can you please advise me on our situation? I'm stressing out and losing sleep over this. So basically, we have reserved a new build house, applied mortgage through mortgage adviser then applied Help To Buy. Then today I just received an email from Help To Buy saying they are unable…
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Best-buy mortgage rate drops below 1% for first time in a year - MSE News
A new best-buy mortgage offers a sub-1% rate for the first time since November 2018. Halifax's new 0.98% mortgage won't be for everyone – especially as it requires a 40% deposit and is only for homemovers – but it's the latest sign that mortgages are getting cheaper. So check now if you can save £1,000s on your…
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Adverse credit mortgage help
Hi there, Bit of a long one apologies. My partner and i are looking to buy a house next year. His credit report is absolutely fine, no issues etc payday loans from 2 years ago however that was always paid on time and in full each month. Mine however not so... My ex husband took loans and cards out in my name of which i had…
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Deed of Trust
I feel I should be able to calculate this relatively easily but my brain has had enough! I am putting all the deposit into the next home that we are buying. The deposit will be 23% My husband and I are buying the next place together. We are considering a deed of trust - what is fair? Me 61.5% Husband 38.5% Or am I…
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Financial/ Mortgage Advisors and Confidentiality
Hi everyone, I’m desperately hoping for some advice as I’m struggling to sleep over this. I’m 22 years old and am in around 13k of debt. My parents are super keen for me to get on the property ladder and are wanting to be guarantors on a mortgage. I know I won’t get one/ much due to my debts but they are pushing me to go…
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Proof of Deposit
Hi so we have the continuing on going saga of a mortgage application We got rejected by a lot of mainstream banks and therefore ended up going to aldermore. We initially planned to place a 5% deposit £3000 we had saved and the rest a gifted deposit with proof provided. We also provided 3 months of bank statements showing…
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Joining Mortgage Networks
I have recently achieved a CeMAP qualification. Looking to start my own business as self employed sole trader. Anyone knows a good decent Mortgage Network for newly qualified advisors? There are many networks but it very confusing how much they charge and what are their requirements? Do they help in getting business?
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Help-to-Buy Equity Loan advice
Hi there, I’m new to the MSE forums, so I apologise if I have posted this in the wrong place. I also apologise for the long post! I’ve recently purchased a new home using the Equity Loan Help-to-Buy scheme. I have since been making monthly payments into a savings account with the aim of using those savings to pay off 50%…
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Estate agent financial 'advice'
I was working with an independent broker on buying the remaining 60% of my shared ownership flat. I spoke to him recently and he advised I wait until January when my debts will be at a more acceptable level. We didn't do an application at this stage though. In the meantime I am keeping an eye on flats in the area with a…
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Bad Credit But Decent Income?
Hi, I have no CCJs within the last 6 years but some missed payments on some accounts including EE and also my existing mortgage account in 2015/2016. I have a decent income but this has only been in the last 12 months, I am self-employed. My credit score with Credit Karma is 471. I am struggling to find anyone who can help…
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Mortgage Advice.
Hi. As the title suggests, we are after some advice regarding mortgages. We are currently homeowners, we have a mortgage outstanding of £110,000 against our property valued at £145,000 The house value we are looking to move to is £289,995 It is a new build property, and we will look to use the Help to Buy Equity Loan;…
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Valuation challenge
I had a valuation done for my flat and it came in at £510k compared to the Zoopla figure of £667, which itself did not take into account there is a 15 sq m terrace around three sides of the flat, so I would estimate the value is probably £20k or so higher than the Zoopla figure. The rental value was estimated at £1950…
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Help to buy advice
Hi all, Me and my partner have been looking at the help to buy equity loan however i was looking at the possibility of only getting a 10% loan from the government rather than the maximum 20% as i have a deposit higher than 5%. Our joint household income is £44368 and the house we are looking to buy is a new build worth…
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Single Skin Construction TSB won't give mortgage
We're buying a house on Cornwall which suprise suprise is single skin construction and it's unmortgageable by TSB. What other options do we have? Vendors are getting impatient bit unfortunately we're back to square one.
