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Mortgage term ending and I'm falling short
Hi folks - I need some sane suggestions - my financial situation has drastically changed in the last
week and I'm starting to panic. My 30k Halifax interest only
mortgage ends this month and I'm £5600 short because the money I had
earmarked to pay it has effectively vanished (it's a family thing, don’t
ask). I’ve also…
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Barclays Slow Delayed Application or Broker?
Hi, We are using a broker for an application for a BTL mortgage with Barclays. The application was made circa Jan 17th this year. 1 month later we have still not received an offer and the application does not seem to be progressing. Communication with the broker is not regular and I'm having to chase daily now. They…
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How long to hear about valuation? Nationwide.
Our long awaited valuation is tomorrow, I’m not sure what time though! Mortgage is approved subject to it, am I wildly over optimistic to hope to hear something tomorrow or Wednesday? After 5 weeks of no progress I feel both very disheartened and also desperately optimistic that we’ll be over this hurdle in the coming few…
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Parents equity release or Proportunity equity loan?
Found a house that I love and really want to buy, but falling short on the deposit... With my current income I can't take out a mortgage as big as I'd need, judging from basic online calculators. Help to Buy only works on new developments, so it's useless. Parents don't have deep pockets either, but were considering doing…
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when to instruct solictor
we have had an offer accepted on property, awaiting outcome of full mortgage application with nationwide ( sent in additional documents and valution on 20/02 ) we have registered with solicitors and they have requested £450 to begin searches- should pay this now , or wait untill early next week when hopefully we will have…
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Transfer of Equity / increasing Help to Buy share of equity
My partner and I recently bought a new build flat in London with Help to Buy. The latter have 35% of the equity (i.e. 5% less than the maximum). We recently discussed how we might transfer equity to one of us in case we don't stay together, i.e. removing one of our names from the mortgage. The problem is, I doubt either of…
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when to instruct solictor
we have had an offer accepted on property, awaiting outcome of full mortgage application with nationwide ( sent in additional documents and valution on 20/02 ) we have registered with solicitors and they have requested £450 to begin searches- should pay this now , or wait untill early next week when hopefully we will have…
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Bad Credit - Precise Mortgage.
Hi guys, please be kind, I am hoping someone on here can help. Recently our landlord of 5 years has decided to put the house up for sale, so are looking to buy a house much sooner than we anticipated. Unfortunately this means we haven't had much chance to tidy our credit files up as much as we would have liked to. So far…
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help please
Hi Our mortgage comes to an end Nov 2023 and we will have paid it off 7 years early. I would like to extend the house and was wondering can i borrow more when i am on a fixed term now or do i have to wait until its nearer the end of the fixed term.....?
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Remortgaging
Hello It's my first time remortgaging (Northern Rock customer!) and we've been approved which is great as we can get away from our 5.03% interest rate! My question is, the questionnaire we've received asks us when we want to complete and the options are 'as soon as possible', 'at the end of the month' or a particular date.…
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Mortgage v Savings/Pension Advice
Hello - Was looking for any advice/pointers on below ; Looking to cut down working in 8-10 years time - Currently am 48.Have a mortgage of £104 k to pay - up for re-newel in May. I will come in to some money,approx £135 k before Mortgage is up for re-newel. Currently have a decent company pension scheme - but in total have…
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A bit of advice regarding proof of deposit for solicitors
Me and my partner are in the process of obtaining a mortgage.. we were gifted a £15,000 from her mum and dad which was from partners grandmothers estate. Along with usual gifted deposit letter We have provided my partners bank statements showing the money coming in to her account, and her parents account showing the money…
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Mortgage brokers - have you dealt with section 106s?
Hi there, Questions are - how difficult is it to get a mortgage? Do Kensington and aldermore lend for 106s? Are you able to recommend brokers for adverse credit on here? House is 180k (60% market value) and our combined income is 50kish My credit is clear, partner has default around £1400 2 years ago and 1 yr ago mobile…
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Temp job/new job
I really want to start looking at houses/mortgages. I have a permanent job, been in it for 2 years. Earn 30800 a year. We currently have a 13K deposit and will be looking at houses up to 130 000. We also have a 3K personal loan, which we haven't missed a repayment for. However my OH only has a temporary contract which…
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Easy to remorg to different bank?
Been with same bank for all mortgage. Deal is up and their deals don’t seem to be as good, even for existing customers, than running the best on MSE site. As I’ve never changed is the process easy? What do you put in for the final figure, as it always says “this is not a settlement figure” and only allows you in years,…
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Downvaluation but large deposit - Help please
I am a FTB and not sure I understand completely the problem of downvaluation when applying for a mortgage and I was hoping that someone could provide some light on this. Let's assume an offer of 170k agreed, deposit of 80k + mortgage application of 90k. The house is valued at let's say 150k which is 20k less than the…
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Avoiding additional LBTT in Scotland
A friend of mines owns a property with his ex, they're seperated but amicable. They rent the property out at the moment. He's now thinking of buying another place, for him to live in. I asked him if he was aware that because it'd be his second property, he'd have to pay additional Land and Buildings Transaction Tax on it.…
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New application with TSB
Hello, we applied with TSB in October and got pre approved (but they didn't like the house). The new broker I'm using applies with them again. How would this affect our chances? I think we should be ok, but after so many issues I'm second guessing myself all the time.
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DMP - Impact on a Mortgage chance
Ok really need some serious advice on my financial situation. I have around £15,000 debt with loans/credit cards. I'm currently making the min payment and most of it is just the interest and barely knocking anything off the actual debt. My income is around £1350 a month after tax, but every month is a struggle paying…
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Impact of going overdrawn on mortgage application
My wife and I have a mortgage agreement in principle, which was referred to the underwriter before being accepted (so I believe our viability has been reasonably well scrutinised already). We’re now at the full application stage, and need to provide bank statements etc. Now, I have a solid credit rating (511 on ClearScore…
