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Mortgages & endowments

Archives for April 2020

Requested mortgage loan V redemption amount
Hi I'm about to remortgage to another provider and have a query. I requested a loan amount on my mortgage application which is now roughly £1000 higher than what my current mortgage redemption will be come completion day. My question is will this 'extra' money be paid to my bank (effectively increasing my mortgage) or will…
Moving from an Interest-free mortgage to a buy-to-let mortgage
I have been on the same Interest-free mortgage since 2007 but I have moved tenants in as I had to relocate. It is unlikely I'll ever move back in so I understand I need to change my mortgage type to buy-to-let? I'm not sure what to start reading to familiarise myself with terms and to know what my options are? What steps…
Having an existing mortgage and moving using help to buy loan?
Hi I was just looking for some advice. I bought my first property approximately a year ago now and I am looking to sell it and I am a bit clueless about it. I have a mortgage which is portable and I used a 10% deposit- 85k is the value of the property. 6 months ago I wanted to sell and buy a new build which was 110k, but…
Transfer of Ownership/equity Remortgage
Hi, Wondering if anyone can help with some advice on this. When I separated from my husband 13 years ago my Dad came on my mortgage as I couldn't pass affordability on my own salary. I now wish to remortgage and remove my Dad from the mortgage and add my new partner - I say new but we have been together for 11 years!…
Switching mortgage half way through a 5 year fixed rate.
I was just catching up with a friend on Zoom, he was asking how our house hunting was going. We got onto discussing his situation, he has a master plan to move in five years as his wife is in the first year of retraining as a nurse. He is smack bang in the middle of a 5 year fix rate at 3.19%, based on the equity he has on…
Bank has put a Charge against our company incorrectly
Hi, We are a limited company and I've just realised our bank put an incorrect Charge against our company back in 2015 and it is listed on Companies House. We have not taken out any lending against the company. How is this ok? Firstly they cant tell me why it is there, or what purpose it is on there for. I've been told it…
Mortgage advisor fee on application
I am a first-time home buyer. I consulted a mortgage advisor who came recommended by a friend. I found him prompt and helpful during my initial one-hour consultation and the few follow-up exchanges. He charges a fee of £500 "on application" vs "on offer" or "on completion." Is this typical and could i negotiate? I am ok…
Overpay Mortgage vs Purchasing Equity from HtB Scotland
Good Morning People! Need some advice! Firstly, apologies if I miss any information to help with advice - let me know and i'll get it posted up ASAP. Currently in a flat bought in 2014 with HtB Scotland for £197,495 with 20% HtB equity which equals £39,500 equity. Latest house sale for exact same specification on my flat…
Request for transcript of mortgage holiday application
Hi, I have been seperated from my husband since Sept 2018 he has not paid towards the mortgage since this time, the bank account changed from a joint account to me paying it from my personal account. He now has to pay interim spousal maintenance, he contacted the building society and requested a three month mortgage…
Ground rent
I have just applied to buy my ground rent which is pretty cheap to be honest. The owner of the ground rent tells me they are second owner of the ground rent and it's up to me to look into who the first owner is. Should I be cautious if I still proceed buying it from the second owner? Ok have contacted land registry to see…
Mortgage Affordability Calculator Query
Hello I have been using various mortgage affordability calculators online to get a rough idea how much it would be possible to borrow. One of the common questions is “Your next monthly credit card payment” - I just wanted a bit of clarity on the following: - Is the total amount I owe on my credit cards at this time - Or…
New Mortgage - Direct Debit not taken
Remortgaged and switched to Halifax which completed at the start of April. The first payment is due to be taken on the first of May, and I have a text from Halifax confirming this and the account its coming from. However, that's tomorrow and the direct debit hasn't been set up yet (with the bank). And I can't see any…
Confused - Shared ownership: Income increase between application and offer
Hi, I'm new to this forum and have an urgent question regarding a Shared Ownership property. I applied for a Shared Ownership new build earlier this year and passed the affordability test and financial assessment. I have just been notified on Monday that my application was successful - which is exciting as I had very low…
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AIP
Evening, is there any harm in me getting a AIP with a lender who I may possible think we will be going with when the lockdown is restricted, it’s Halifax and they say it’s a soft search, so shouldn’t affect credit report. thoughts?
FINANCIAL CONSIDERATION - ADDING NAME TO MORTGAGE - STAMP DUTY
I am getting divorced and my ex wants to come off the mortgage of the family home (she is buying her own house). My brother-in-law(BIL) has said he will come on the mortgage with me to meet the affordability criteria needed by my mortgage provider, staying on my current tied-in mortgage. I have been paying the full…
Remortgage delays cost me money
Hi. I've finally managed to switch my mortgage to a new lender with a better rate, so I'm looking forward to much reduced monthly payments during this crazy period which will be helpful :) However, the switch was due to complete on 1st April (the day after my old fix ended), and it actually took until 28th April because of…
What happens at the end of a mortgage
I paid off my mortgage in 2019 and my mortgage provider (YBS) shut my account and wiped all my data. I expected to get the usual year-end statement showing the final balance (nil) and interest paid during the year, but apparently they don't do this once the mortgage is paid off. I need this for my (non-UK) tax return. I…
Will apprenticeship affect mortgage
Hi, I am considering purchasing property. However I am an apprentice and assume this would reduce chances of being accepted for mortgage. So I’ve come up with 2 scenarios - could you please give opinions on which you feel is most suitable? 1. I purchase in 2 years while still apprentice - I will have at least £45,000 for…
what solicitor for a mortgage dispute?
Hello all One of my parents died this month, and I am trying to sort out their affairs on behalf of the surviving family. They had a mortgage on the family home still outstanding and there are some issues with it regarding the term, rates etc., which I want to challenge the lender on. The trouble is, I need professional…

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MSE News

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Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
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Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
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