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Do I ask for a new quote as interest rates have dropped?
I am in the process of buying a house. We have a mortgage in principle with a building society and it’s a 5yr fixed 2.75% Which has been done via a mortgage broker, he did find us a really good deal at the time however due to Coronavirus the interest rates have dropped! So far we have only submitted payslips and back…
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Mortgages bad credit and defaults
Hi everyone Looking for some advice... Myself and my partner are needing to submit a mortgage application in the ext few weeks as are reserved plot is coming up for sale. We will be using HTB 20% equity with a 5% deposit ourselves. My partner has perfect credit. I had (what I thought) 3 defaults all satisfied and from…
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Property Plans
Hi People, Just going through the buying process.... Just been sent a bunch of documents about the property stating what can be done to it, plans, Fittings and contents etc...... This is a new build.......the seller/developer has provided a plan, but it's simply an outline of the whole development of 4 'back to back houses…
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Do I have to take my matured Endowment on maturity date
My Royal London Endowment in due to mature on 28th March 2020. They have asked me where I want the money deposited when it does. If I don't reply they say they will hold the money until I contact them. With the stock market plunging in the last couple of weeks the final amount on the 28th March will no doubt be less then…
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Full mortgage application in halifax
Hi, We are FTBs, our broker just submitted a full application for mortgage in Halifax on friday and i am really anxious how it will turn . We had an AIP up to 410k but we only need 375k for the property. How likely are we to be approved and how long before they make a decision? Cant sleep peacefully at the moment. Pls help
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AIP/DIP now?
Hi everyone, Just after some advice, I’m currently going through a Powermove Scheme with a developer where they help me sell my house for me to able to get one if there’s. As I currently have a mortgage I will be hoping to port my current one to the new build, I’ve rang them and asked if it’s possible and they said yes…
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Mortgage Protection Payment Insurance?
Hi MSE, Given these uncertain times I've been considering if purchasing mortgage protection payment insurance may be a good idea. I've never really thought about purchasing it before. In way of a background, I work in the private sector and the sick pay given by the company I work for is quite limited, 5 days per rolling…
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FTB adverse mortgage
A bit of advice if you please, FTB looking to use htb, but credit file isn't great. 3 defaults due to fall off late this year, early next year ( may 21 is the last one to go) and a ccj that's 2 years old for 1700 which is also related to one of those defaults. Using a broker we have an aip with a sub prime lender @ 4.2%…
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When to start buying furniture on 0% credit card? New-Build will be ready July 2020
Hi all, I was wondering when should we start buying furniture (sofa, beds, kitchen table etc) for our new build? Mortgage has been approved (initial credit checked passed) and we are just about to exchange but the completion will be done early July 2020 as the house is currently under construction. The idea is that we will…
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Question for Brokers
I've been renting for years and really want to buy now. I am working for an agency (social work) and the pay is quite reasonable. Deposit wise I'd be looking to put down £20k on a £100-120k mortgage. Is there any possibility of getting a mortgage based on 3 or 6m payslips in a temp contract role? Prior to this I was…
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When will rate cut be passed on for fixed rate customets
I just (few weeks ago) got a mortgage offer from Santander for a two year fixed rate. the redemption on my existing mortgage is not due until 1 May. Santander have already amended the variable rate mortgages accordingly but what about fixed rate offers ?
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How far ahead arrange mortgage product switch same lender?
Hello folks. I have a Natwest mortgage, 5 yr fix. 2.2% Still has a while to run, but wondering how far in advance can you arrange to change to new product, would it be weeks or months? My guess is likely weeks? If remaining with same lender are income checks done again at that time (in the past they didn't but things…
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ex on mortgage and deeds - not married !
Hello everyone - I'm looking for some self-help tips! Please can you read and advise where possible. I bought a shared ownership house 16 years ago - I paid the deposit with my savings and a gift from my father. I was in a relationship with a guy with whom I had three children - The relationship was very abusive and after…
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Joint application bank statments
Hi guys i have a quick regarding bank statements, I’m going to have a joint mortgage with my wife and have different accounts. If we are going to put forward a deposit it will come from both of us. We transfer the money into one or the other or keep funds for the deposit separate? also I may have a possible gift deposit…
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Remortage Due. Can I port mortgage if Downsizing.
My house is currently up for sale. No bites yet. My Mortgage is coming to an end and we have just had the re mortgage offer to start in May. Its a good deal. I cant find better however we are hoping to move and with that Downsize. Is it possible to port the mortgage if we will be borrowing less or will we be looking at…
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First time buyers with adverse credit
Hello! Myself and my partner are currently trying to get a mortgage with little luck! My partner has a default from 4-5 years ago, worth £11 due to switching phone contracts and not realising he had an outstanding amount. He paid it around 4 moths after it was due, resulting in the default. Other than that he has never…
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Time to remortgage?
We've been with Bluestone (due to previous credit issue) for a year (on a 2year fix) at an eye watering 6.2%. The annual statement has come and the redemption figure for today is nearly £4k. Credit issue now sorted and rating should be ok, is it worth remortgaging now or waiting until the end of the 2yr fix? I think we'd…
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FTB -what do institutions actually see
Ive read lots of things on here and im so confused. When you apply for a mortgage they do a credit check but what exactly do they see? Do they see your score? Your credit history? Your current accounts,limits and balances? What other things are taking into consideration? Sorry i am new to this whole thing and mortgage will…
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Santander- FTB
Hello, I got an AIP from Santander (which is my bank) for £100k mortgage with 5k deposit. Found a house i love, offer was accepted at £105k. MA submitted mortgage application on Friday 6th March but with £8k deposit. 3 month payslips,4 month bank statements,passport etc all sent same time as application. How long does it…
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Section 157 and NatWest?
Has anyone else had an issue buying a property with a s157 restriction with a mortgage from NatWest? Both my wife and I meet the criteria for the restriction so no issue there, and I can’t find anything in their published lending criteria about it. We got the valuation back and they said it isn’t within lending policy. We…
