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Mortgage Application Current Accounts
Hello! Myself and My Wife are soon (three/four months time) going to a bank or other financial outlet to apply for a mortgage. We have separate current accounts which our Salary’s are paid into. We also have other Monzo Bank Join accounts in which we put money every month for grocery’s, holidays and bits n pieces! We’re…
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Two mortgages.
Hi Guys, I will try and keep this as short as possible. The wife and I are getting a divorce, as she can't afford a mortgage with her low salary I have offered to apply jointly. We will sell our current house and put the equity towards it. Firstly, do I need to disclose to a mortgage advisor that I won't be living there?…
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Mortgage application denied because I have been furloughed!
Has anybody been refused because they are currently furloughed? Does this mean a huge number of mortgage applications are being refused?
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? Non first time buyer
I was added on to two existing mortgages with ex partners in the past. I was removed from one and the second one the property was sold approx 6 years or so ago. I haven't been on a mortgage since. Does anyone know if there is any help similar to the first time buyer offers with getting back on the property ladder? I assume…
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Mortgage + unused credit cards?
So at the moment I am currently saving for a house deposit, likely buying in 12 months time with my partner with the aim of getting a 90% LTV mortgage (roughly around £180k). But currently, I've got 3 credit cards that are all unused (each with limit of £4k, £3k and £6k) - 2 are fairly new (past 3 and 4 years - MBNA and…
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Buy-To-Sell Mortgage Using Owned Propertt as Collateral?
Hi all,My partner and I are looking at funding options to secure a second property with the intention of renovating and selling on. I own a £115K property outright, could this be used as collateral in securing a buy to sell mortgage or will I need to mortgage my current flat in order to release some equity to then use this…
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Self Employed Mortgage Application post COVID-19
Hi, I am aware that when applying for a mortgage, if you are self-employed you need to provide 2/3 years of accounts in order to determine your income. My question is what happens next year when I'm planning to move house? If I apply from April 2021 onward, will the banks past 2/3 years accounts request include the…
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New build mortgage offer
hi, we have just got accepted on a mortgage offer pending valuation with Santander, for a new build property which is due to be completed Dec/ Jan/ Feb. just wondered if anyone knows what happens with regards to the offer and how long they last? Also what if the property isn’t completed and the offer expires?
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Remortgaging for second property let to buy or second charge
Forgive me for being thick. I see that one is able to remortgage to release equity from own property but why do we have to pay it back if it is our own equity? I understand banks have to make money on this yes to charge an interest, but to have to repay own equity and interest and fees on top? If I sell my own property I…
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Mortgage holiday to pay higher interest loan balance
Hi, So with the advent on mortgage holidays due to Covid, it got me thinking... I am 24, have a £7864 loan at 10%, and a 92k mortgage at 2.92%. I did earn £30k/yr. Currently earning £27k/yr due to salary reduction "while the current situation pans out". I currently pay £200/pm on the loan, and £560/pm on the mortgage. If I…
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Covid 19 & mortgage
Hi, We were planning to change house this year before the pandemic, if we start looking now at house market, what are the overall affects of the pandemic on the housing market? 1. Have the house prices dropped or will they drop in near future? 2. Are we looking at another recession? If it does happen, then is now the right…
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Mortgage advice needed please...
Hi everyone, We are in the middle of buying a house. TSB gave us our mortgage, however they are now wanting to back out of this agreement (which I know they are allowed to do) due to the results of a coal mining search. It has shown that there is a coal mine entry on the footprint of the house. We have a mortgage advisor…
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Endowment Payout Advice
My 25 year Endowment has just payed out today, money has gone into account. I had an estimate on 16 April 2020 of £24632. Today it paid out £23087 To say i'm disappointed to lose best part of £1600 in 5 weeks is an understatement! Whilst I expected variation one way or the other I was expecting a few hundred quid either…
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What has happened to Wave Lending?
Can anyone tell me who owns Wave Lending please? I have a couple of mortgages I am trying to arrange payment holidays on, but cannot find what's happened to them! I haven't received mortgage statements for 4 years, so tried to Google some info but not really found anything..... The mystery continues..... Any help would be…
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Mortgage Application with variable student loan due to quarterly bonus
Hi all, I'm applying for a mortgage and help to buy loan soon. I will be using my base salary + quarterly bonus when applying. I am unsure what to put down for my student loan deduction as every quarter the deduction is much higher than it normally would be. So in regards to deductions and applying for the mortgage & help…
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Our bank won't adjust the interest rate on new mortgage offer after the base rate was reduced
We are buying our next home by porting our existing mortgage (it's locked in a 5 year fixed rate) and taking out an additional mortgage for the difference we need to borrow. Our bank issued the mortgage offer 2 days before the bank's base rate was cut but are now refusing to make any adjustments to our mortgage offer -…
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Mortgage cost clarity - warning potential stupid question alert!
Hi All, I've just looked at the MSE best buy mortage calculator to get a sense of costs and am a little confused by how it works. I put in a 60k mortgage, fixed for 4 years and paid over 24 years and got an estimate of 244 per month to pay. I then kept the same criteria but upped the mortage to 85k and got an estimate of…
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Joint mortgages.Lender Responsibilities
Good afternoon, First time poster , so please go easy with me! Regarding the above query , if a joint mortgage was changed to “Interest Only” by my partner in 2011 without the knowledge or consent of one of the mortgage holders (me in this case) would I have a chance of redress? I was not informed of this change, nor were…
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Repaying Help to buy
Hi, We have a help to buy loan which is coming up to the 5 year mark. The original loan was 50k, Haven't had the property valued yet but I know this may have altered slightly now and we are probably owing around 55k-60k on the HTB. We owe 180k on our mortgage and our joint income is 70k. We have saved about 20k to put…
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Mortgages & credit balances
Morning all, Me and my partner are currently saving towards a deposit with the hope of looking to buy and therefore apply for a mortgage in about a years time. I've been doing all the reading up I can and want to be prepared as possible for the application as quite frankly the whole process seems to be a nightmare so I…
