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Panicking about negative equity without even owning the house yet..
Me and my partner are in the final stages of purchasing our first home. We are currently just waiting for the formal mortgage offer from our lender so that then we can exchange contracts. The house is a new-build 3 bed end-terrace, which we are going to buy for £163k. We have put 10% down, so our mortgage will be £146,700…
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Problem in removing my ex off mortgage
Can anyone give any suggestions. I split from my ex over 12 months ago and have been paying the mortgage myself from my part time income plus universal credits, child benefit and maintenance for my 2 yr old. I want to remove my ex from my mortgage but although I have comfortably been paying it for the last year I am having…
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Cant find any details regarding mortgage provider
Hello everyone, To cut a long story short, i recently found out my mother in
law has an interest only mortgage with a mortgage provider
called: Trillium Mortgages Limited - After trying to do a bit of digging
on google i can't really find anything out about the company and all i ever
seem to find are company stat/info type…
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Consent to let vs BTL - affecting borrowing
Hi, We have a house (1) that was rented out 7 years ago under a normal mortgage with a consent to let agreement, currently rented out for £550 PCM with a mortgage of £450pcm. Worth 150k, with a 73k mortgage left. We then have a second mortgage (2) for the house we live in, under normal conditions. We plan to sell house 2,…
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Rejected rate switch/product transfer
So some one I know has just been declined a product transfer/rate switch (all like for like) with Virgin money. Their reason was that he doesn't meets theu affordability. Ok his income has significantly gone down from the time he got his initial fixed mortgage however I am failing to see the lender here acting in the…
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Joint Person Mortgage - 1 permanent contract and 1 zero hour contract
Hi everyone, My boyfriend and I are looking to buy a flat later this year. He is on a permanent contract (23k) while I am on a zero hours contract (minimum wage - around 17k) and have just started a new job. We have a deposit of 20k, about 13% as we are looking to buy a place in the region of 140-150k. I know it can be…
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Nationwide Undervalued Property
Hi. I'm a FTB i have put an offer in for a property for £75,000. Nationwide have gone out to value it they've come back with a valuation of £60,000 my mortgage broker is appealing it as in his words it is 'ridiculous' i have been told there's nothing i can do except wait...but i am so worried! please can anybody provide…
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Rolling Stamp Duty into Mortgage with Help to Buy
My wife and I have reserved a property and are in the process of sorting out the legal and financing side of things. We did some Googling and discovered that it is possible to incorporate your Stamp Duty bill into your mortgage, simply by adding the tax owed onto the mortgage required amount. We discussed our plan with our…
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Declaring student addresses
When submitting a mortgage application do you need to declare all your previous student addresses if they don’t show on your credit report or can you just use your parents address which all my documents were registered for? If you do have to declare them, will it ruin your chances of getting a mortgage. For reference I’ve…
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Buying into partners/Mother in law's house
Hi, I am hoping for some guidance. My girlfriend and her mom bought a flat multiple years ago. He mom bought half of it outright, and my girlfriend took out a mortgage on the rest. They have shared ownership of this. We are now considering if I should buy the 50% from her mother and therefore share ownership of the flat…
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Shortfall on Term Expiry
Hi, I am a 72 year old very close to the end of the mortgage term with a shortfall of £28000.00 and am looking for advice about what sort of vehicle to use to pay the remaining amount. I have made lump sum payments as far as i am able to do so but still have this debt and I am on a fixed income.
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Mortgage whilst travelling
I am looking at buying a house in the UK. I am currently working in Australia and have been for the last 6 months. Plan on coming home in the next 3 months. I’ve been accepted for a mortgage in principle. my parents are going to look at the house this week and if all is good we will put an offer in. I have a job secured…
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Affordability
Can someone please explain how mortgage lenders assess affordability?From what I can gather, the proposed mortgage repayments + monthly essential costs (i.e. committed spend) should be less than 40% of net monthly income (after tax). Then with a stress test (3% increase in mortgage interest rate) the above proportion…
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Halifax only want latest payslip
Hi there I have submitted an application yesterday via broker to Halifax. They only wanted latest payslip and no bank statements. I have been really careful last 4 months about my spendings, paid off all credit cards apart from one loan. The only thing is that this is my first job after maternity and only have two months…
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FTB - Yorkshire Building Society... Help!
Hi All.. I'm wondering if I can get some peace of mind as this is completely out of my comfort zone/new to me and I don't really know where to turn and the worrying is driving me mad! My partner and I have been looking around for a property as we are FTB's - his salary is £30,228 and mine is £21,000. His salary is due to…
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Increased mortgage borrowing
Hi. Are there any mortgage lenders out there that could lend us more on the condition we settle a loan with equity from the sale of our current home on completion. Thanks guys
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EQUITY RELEASE - please help !
Im helping out a 60 yo gentleman trying to sort of his divorce. He is disabled with a stroke and its proving rather tricky. One idea is an Equity release of £189,000 which would pay off the existing mortgage and buy his ex out of her share of the assets. The house is valued at £375,000 his income from all sources £22,859…
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Better mortgage deal since bereavement
Hello My father recently passed away and we are now looking at all his finances to make sure my Mother is able to survive solely with her pension income. While they are / were of retirement age, they purchased a property late in life and still have 2 years to pay on the mortgage for their home. I was never across these…
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Advice on help to buy ATP please
Hi, we have received our mortgage offer from Barclays and are now awaiting the help to buy loan ATP. We were advised there are delays with applications due to them changing hands. My question is, as we have received our mortgage offer, would there be any reason for our help to buy loan application to be declined? As the…
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Avoid losing 3% duty on 2nd home? Help.
My house in in my name. my partners house was in her name as well as the two BTL's that she has. As we were struggling a couple of years back, to find a decent house to move to, with what would result from my sale plus savings, we decided to sell her house for a better chance of finding something nice. If I remember…
