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Is it right time to lock the mortgage rate for 5 years?
Thank you all in advance. And stay safe. current mortgage term: 2 years flat of 2 beds in londonMy mortgage term is coming to an end within 12 days. We have seen recent cut down of interest by BOE However there is no change in mortgage interest rates. So my question is shall I go for long term mortgage (5 years) as I…
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Remortgaging advice
My son needs to remortgage as his 5 year deal is coming to an end. He married last year but the house is still in his name only. Is there any advantage in his wife becoming joint owner? Would that involve solicitors fees? Or if he remortgages in his name only will they still take her salary into account? And if they move…
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Too late to change broker?
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Santander Mortgage holiday - adding interest
I just called Santander, and while they agreed to a 2 month holiday, the only options involved adding the payments and consequently adding interest. So, my monthly payment would increase by £6. Not much, until you factor the 236 months I have remaining meaning they make an extra £1400 Is this the way they're supposed to be…
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Reduced Hours - Mortgage Holiday?
We heard today that my husband will need to take a pay cut for March, April and May which will leave us about £650 worse off a month. We have to consider that this could get extended too I guess. We were thinking of asking for the 3 month mortgage holiday - our mortgage is £1500 - I’m tempted to ask for the three months to…
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remortgage and transfer of house deed
Hi, Need some info please. I've no knowledge or experience regarding this. I recently remortgage and change the house deed to my sole name due to divorce. What documents should I receive to show the process have been completed? So far I've received a letter from Land Registry to say the previous mortgage (in joint name)…
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Getting decreasing life insurance for a second charge mortgage
How easy is to get decreasing life cover for a second charge mortgage?
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Do I sign mortgage or wait?
Hey all, I’m not sure if a similar question may have been asked. We are first time buyers and have just been accepted for a mortgage on a new build property. However due to the upcoming financial uncertainty we are wondering whether to proceed or not. The property has been purchased under the affordability scheme to help…
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Should i go ahead with buying a house/ getting a mortgage at this time?
Hi all, At the minute i'm looking to get back on the property ladder (currently renting) I've made an offer on a property which has been accepted and just about to hopefully pull the trigger on a solicitor today to get the ball rolling to buy this property. But with all that is going on i'm starting to worry is this the…
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Divorce remortgage
Morning all. My mortgage offer is awaiting decree absolute and court consent order before being able to complete (paying off the ex). I got a 5 year fix in Dec at 1.59% if I recall correctly. It is likely to be mid April before the consent order gets sealed. Should I be looking to see if there is a better deal out there?…
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Is Precise Mortgages is offering the 3 months delay?
Hi everyone, did anyone knows if Precise Mortgages is offering the 3 months delay because of coronavirus? on a fixed BTL mortgage,
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parents going to lose their home
My parents are over 70+, and dont work, they live in we think a £550000 worth might be less semi house, they lived there all their lifes (only house they ever owned), they are not rich only living off thir pensions now, not alot. But have a mortgage debt of 330000, and they have not been paying for a few months now, also i…
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Returned DD mortgage application
Hi all So today we got a DIP which was amazing, however the rate was 6.15% which we thought was shocking, so we have contacted another broker who thinks they can get one for 5.23% (still loads but we just want our house) My history - 5 defaults from 2018 and PDL from 2017 (all paid off) credit been fine since other than a…
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Over pay mortgage or reduce term years?
For the last 12 months I’ve overpaid by 1k pcm, now we’re coming up to remortgage this will obviously reduce my term (was originally 40 years). im wondering what’s best, do I reduce my term length to say 25years which would reduce interest payments over X amount of years, or do I keep the term as high as possibly so the…
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Mortgage Limbo - Contingency Planning
hi everyone, what strange times these are... I've decided to press ahead with my planned FTB purchase, despite the recent market volatility/COVID-19/impending (probable) recession etc. This would be a long-term home for just me. I haven't had feedback on my mortgage application yet and I'm thinking about what I will do in…
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Mortgage dependant
Hi all, I’m querying a question that I have been asked by my broker. i am applying for a mortgage in just my name and I have dependants living with me, one of them is my partner who stays at home to look after our children. Our broker is asking question about my partner's (who is not on the mortgage application) finances,…
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Early repayment charge when changing lender?
If we wanted to change mortgage providers part way through a mortgage, do you have to pay the ‘early repayment charge’ which is £7000 in this instance, or is it just the ‘exit fee’ which is £50? Thanks
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Can any mortgage brokers help answer this question please?
Hello. I recieved an initial DIP from Kensington for a max property value of £110,000, with a max loan amount of £102,500. My offer was accepted at £107,000. The house is valued on the home report at £105,000. Unsure what the mortgage valuation has come back as. Since the DIP has come back, i've now had to change my…
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Santander Declined Mortgage
Just got a call from my mortgage broker to say that Santander have declined my mortgage. Reason being to a default from 4years ago of £175 that has a notice of correction on my credit report as this transaction was fraudulent. My basic income is £50k a year, with 10% bonus and an additional £3k from other sources. I was…
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Put my mind at rest
We have exchanged contracts and will be completing on Thursday. All monies gone across to the solicitors. Assume this is still a slim chance the mortgage lender could out due to Coronavirus stuff?
