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Mortgages & endowments

Archives for May 2020

AIP
ive had a mortgage agreed in principle and a full application has been submitted. I am really nervous what could cause it to be declined?
Halifax Mortgage Submitted
Hey Everyone, I hope you all are well. I hope someone can put us at ease. We are looking at a new build using the HTB scheme and our broker has submitted our full application on Friday. We want to borrow £260,000 with a 5% deposit and 20% from the gov. we are both on about £74k together and I have a permanent second job…
Nationwide undercharging mortgage interest?
Hello, I've noticed a discrepancy in my Nationwide mortgage account - my most recent interest payment (which is taken on Jan 01 every year) seems too low. I overpaid quite a lot last year, but not nearly enough to account for it. By my calculations, assuming daily calculation and annual compounding, I should have paid…
Should I borrow more or less?
Me and my partner are first time buyers. We may or may not have to move for work in a few years time. We are trying to decide whether to buy a smaller property now or whether it's worth stretching ourselves a bit and buying a bigger property to save us moving a few years down the line if we don't need to. Could anyone…
Help to Buy Equity Loan
We are first time buyers and maybe looking at using the equity loan. My question is, If we were to use the help to buy equity loan, would we have to use the full 20% or could we just use 10%? We would be looking at placing a 10% deposit and then using 10% (if possible) from the help to buy scheme. The thought of having to…
Will a buy to let let me borrow more for a personal mortgage
If me and my partner were to take out a buy to let mortgage for an investment property, therefore increasing our income with the net rent proceeds... would that enable us to borrow more on a joint personal mortgage for our own home? I’m presuming the answer is yes on the logic our household income will go up, but I just…
Mortgage + Deposit Overseas
Hi. My fiance and I want to buy a new house. We are going to use the money that I have abroad as a deposit for this new house. This money is from my savings and is in my bank account . She is holding a Tier 2 visa and me I am holding a Tier 4 visa. Initially, the buying process would be under her name. The question is how…
Would I be better off getting a First Time Buyer mortgage, or joint mortgage with partner?
Hi guys, I was hoping you might be able to offer some advice about my next steps in house-hunting with my fiance? I am a 45 year old business owner (director of a small company), and my fiance is a 40 year old civil servant. We are currently living in her 2 bedroom apartment in Nottingham, and we are desperate to move…
Royal Bank of Scotland?
Does anyone here have a mortgage with RBS? Mines up for remortgage so I had a play online and cant quite believe their offering a 5 year fix at 1.21%, zero product fees and even 250 cash back? If its too good to be true it usually is? I've read the small print abd there seems to be 271£ account set up costs but thats all?!
Divorced, no formal Financial Agreement & want to re-mortgage
Hi So I've divorced from my wife last year. It was kind of amicable. But I used an online divorce company and have no legal Financial Agreement. Here's a quick summary: * My ex and I have a joint ownership & mortgage on a property where she and my kids live today * I pay the mortgage & property maintenance * I pay child…
Equity Release, property valuation.
We are looking into a Drawdown Equity Release on our detached home and in spite of talking over the phone with an advisor I am unsure how the property valuation affects the ER/Drawdown.Firstly, does the valuation affect the amount of Equity Release plus Drawdown, so if the valuer says an house is worth £350,000 your…
Early Repayment Charge when breaking chain
Apologises if this is a stupid question. So our house purchase has collapsed so we’re going into rented to secure the price we got for our house (agreed pre-Covid). It also puts us in a better/easier position when properties do come up. Our mortgage with Santander (which can be ported) has an ERC of approx £3800. I’m aware…
Pepper
I was just wondering if anybody had used pepper lately? I've got a few issues on my credit report hence using them. I haven't been furloughed and have a steady income. Affordability isn't an issue and have gone through a broker who seemed confident, said they had seen much worse than mine be accepted. Application has just…
What happens if we don’t meet completion date?
Hi, This is a long post so please take the time to read as I could really do with some help. my boyfriend and I are currently in the process of buying a new build. A bit of back story: we are using the forces help to buy. My boyfriend applied for the loan a couple of days before he was due to come home on leave (Had…
Moving someone in
If I moved a partner into my home to which I am sole owner, can they ever make a claim if we split say 5/10 years down the line?
Ways to improve our chances to get better mortgage deals in the future
I would like to get some tips on what could improve our chances to get better mortgage deals in the future. To summarise the (potentially) key factors: * We are a couple, she has a 10 years old kid from a previous marriage, they are already divorced and only the child part is left, they should be over in few months. * We…
Mortgage aip advice
Hi folks. Looking for some advice. In February before civid-19 hit we put our house on the market for sale. We accepted an offer on our house yesterday. We went online to get a new aip as the 1 we applied for in march has expired. Now i have been put on furlough not because theres no work but because iam shielding. Hoping…
Mortgage with new job - 3 months
Hi, Working in new position that transitioned to in lock down that have been working remotely for 3 months. Salary £84k. Age 28. Currently have 2 rental properties in London with about £3000 income per month. Want to purchase outside London and commute in. Was looking at properties around £300k and understand I will be hit…
How to choose who to get an AIP with?
Complete newbie here - I have been reading about the process of getting a mortgage and buying a property. How do I decide who to get an AIP with? Obviously I know I should get a mortgage with the smallest interest rates but since AIP is just an AIP and not the actual mortgage agreement, I'm a bit confused. Every mortgage…
Save money on second charge
I have 8 years left on 1st charge, 10 on 2nd charge, 1st charge is currently 5 year fixed at 1.8% around 30K owing, 2nd charge is 6.2% around 22k owing. By using all the online calculators i see it may be possible to refinance the 2nd charge by moving it to another lender and save about 5k interest. My main question is,…

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