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I think this is a silly question RE: Valuation but just wanted some confirmation.
We are buying a new build house for £249k. We are using HTB so have a deposit of £12450 and HTB Equity loan of £49800. We have applied for a mortgage amount of £186750 and currently awaiting the valuation which has been scheduled for the 16th March. So, my silly question is, when they value the property, are they looking…
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Remortgage to interest-free
Hi, I recently separated from my husband; he has moved out and I have stayed in the house with our 2 children. I am managing to make ends meet (just) with a bit of help from Universal Credit and my parents but don’t want to be reliant on either long term. My ex is keen for us to seek the house, split the equity and then…
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Complicated Mortgage Situation - Please Help!
I'm a solo buyer and had a DIP done in January for £123,500 I put an offer on a property in January that was less than my Max lend amount, so was borrowing around £118,000 and my mortgage full application was approved unfortunately, I had to pull out of this house purchase due to the issues raised on the home buyers report…
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Increase mortgage refused
As people may know. I have around £40k of debts am working my way to pay (have never missed payments) anyway we now need a bigger house. At present I owe £90k on my mortgage my home has been valued at £115k with estate agent saying £120k I will get next house is £130k, however bank have said no they will not increase my…
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First Direct mortgage customers told they will need to pay more – or get money back
Some First Direct mortgage customers will see their payments increase – while others will be in line for money back – after a banking error meant that some customers' monthly payments were miscalculated Read the full story: First Direct mortgage customers told they will need to pay more – or get money back
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TSB mortgage employer reference
Hi So our application is now with the underwriters and they've requested a employer reference, what does this include? Im paid hourly, have a minimum 30hr contract but i work more than that Any advice would be great
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Remortgage on a property with key worker loan (2nd charge)
Similar question asked earlier, can I remortgage and use the funds as a deposit to buy a bigger property? Family has expanded. Difference is, I have a key worker loan on my flat, which is a second charge. Mortgage remaining is approx £75k, 12 years. Second charge is 1/3 of sale price. Approx £200k equity in the place,…
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Overpayment Question
This is probably an easy one but I'd like to get some view on whether I'm maximising my benefits with the following please. I have a mortgage which is £115k, of which approx £70k is interest only and the remaining £45k on repayment. It's a 5 year fix at 2.39%. There are 7 more years left to run on the mortgage which is…
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Mortgage more than 3 months before starting new job
Hi, My fiance and I are currently house hunting and we've seen something that we'd like to put an offer on. We've spoken to a mortgage broker who says there will be no problem with us borrowing the required amount of money; however, as my fiance does not start her new job until September, we would not be able to apply for…
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First time buyer
So me and my partner are looking to buy our first house in move in together. We're looking for a bit of advice as to weather to go to a bank and do it direct or a broker. Possibly L & C. Ive seen one mortage i like the look of. 5 year fixed with Barclays with 2.75% intrest rate and £35 fees this was via comparison website.…
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Credit Score gone down during mortgage application!!!
Hi all, I'm a REALLY bad stress head. In the last few months I've made sure i've been super careful. My credit history isn't the best, but I've had zero issues in the last 40 months. I had a couple of defaults prior to this for low amounts. My credit "scores" have never recovered, and probably doesn't help that I've only…
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Should we wait for the next BoE base rate meeting?
Hi all, Our fixed rate mortgage ended last month and we were shopping around for a new one when all this finacial meltdown happened. What do people think are the chances that in a few weeks the base rate will go down to 0.5 or even 0.25%, and if it does, will that mean better fixed mortgage offers? Im looking at a 5yr…
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Second home mortgage with my pensioner parents - impossible?!
Hi all, I'm hoping to get your wisdom or at least some pointers in the right direction please. In summary, I currently live in London and my parents in Glasgow. Together, we'd like to buy a second home that they would live in for much of the year (let's say six months, for now). I don't think it's the most attractive…
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Additional Borrowing on Mortgage - Is a deposit towards a new home a valid enough reason?
I have an existing mortgage with the Yorkshire Building Society and currently considering taking out additional borrowing on the mortgage to raise a deposit towards a bigger family home. I am a bit worried though that the purpose of the loan may be rejected by YBS, as it may be considered as not a valid enough reason or…
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Good credit
So a couple of years ago I got a credit card to increase my credit worthiness, I joined ‘credit club’ on MSE and it recommended I do that, because I’ve never had loans or bought a house. I wanted to do this because I was saving up a deposit to buy a house and thought a better credit score would help me get a mortgage.…
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Deposit about 7%?
Hello all. I’m looking at my first home and I’m currently searching around £230,000 purchase price. Now I have around £29,000 deposit which works about about 12/13%. My question is would a figure of only 10% deposit be accept (£23,000) or can I use the full amount for deposit? (12/13%). I was hoping to achieve 15% deposit…
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Can the presence of occupiers have a negative impact on mortgage offer?
I am British but my fiancee is not and in fact she cannot live in the UK yet (we will apply for marriage visa after completion), therefore she has no credit record in UK. I have already received a mortgage offer from HSBC and my solicitor says that fiancee (who will be living at the property without being involved in the…
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When "affordability" becomes a food for Housing Association sharks.
Good evening all, Can a Housing Associations like optivo, hyde etc increase subsidence excess to £5000 without a formal notice for a shared ownership house built in 1930's - WITHOUT any subsidence history? We own a %50 on a 4 bedroom house which was bought back in 90's. This is basically preventing sale of our house in…
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Everything registered to parents address
All my documents/ banking/ electoral stuff was registered to my parents address due to the constant moving of renting during uni. I have just changed it all to my rental address. How long will it take to show up on my credit report/ how much will this affect my credit score?
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Stamp duty when partner buys in
Hello, I've got a type of shared ownership property, where I own 60% of it and the other 40% is owned by a housing association. Now that I've had the property for 10 years I am being charged quite a bit of interest on that 40%. I'd like to propose that my boyfriend gets a mortgage and buys that 40%. He already has a…
