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Less than 10%, but not 5%
Anyone know if there are many banks out there approving mortgages for less than 10% deposit at the minute? Not 5%, but more 7-8% depending on the price of the house. I've looked around and it doesn't look like it but thought I'd check to see if anyone knows on here, or have perhaps been approved with less than 10% over the…
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Suspend or not
Trying to work this out. I have been considered an essential worker but Salary is lower as not travelling to meetings, no overtime etc. On top this we are now a one income couple. We Now owe 36k over 4 mortgages having got into huge debts. One is 7k @2.39 14k@0.39 5k@0.89 5k@1.14. Was thinking of suspending mortgage…
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Reducing debt
My husband needs to join a debt repayment scheme but his name is on the mortgage along with mine. I always have and will be able to continue to pay for the house and all the bills (he pays all his cc and debt bills currently). My questions are: Can his name be removed from the Halifax mortgage even if he continues to live…
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Could I really get a mortgage?
So last 3 years I've had 1 missed payment (currently fighting it because its incorrect!). I have a car on finance and a few credit cards. My rating is 'fair' on equifax. Im currently saving. Wont be until at least a year before I would apply. Hoping for approx 100k house with about 8k deposit. I earn 31k. Its really…
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Transfer of title while mortgage is in fixed term?
Can you do a transfer of title/equity while your in a fixed term without it affecting the term and triggering an erc?If i was to fix now and then do the transfer of title in december after the 5 years right to buy time limit is up?We had a call from. Natwest today who said you can fix now and do your transfer of title…
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AIP accepted, then declined
Hi I’ve not posted on MSE for a long time, but I hope someone could help. I applied for an AIP from the Halifax through a broker a few weeks ago. This was accepted and the KFI was emailed to me with all the details. This is for a new build home which I have reserved. I have missed payment markers on my credit files from…
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Halifax early repayment
Good evening, I have a mortgage with Halifax on a SVR and am in a position to repay it in full - it has 5 years 11 months to run. Does anyone know if - generally speaking - SVR mortgages can be settled early without penalty? I realise it probably depends upon my own T&Cs but Halifax cannot be contacted at present unless it…
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Can you change your mortgage post-exchange but pre-completion? (New build)
As title. I'm not sure if this is a stupid question or not, but is it theoretically possible to apply for a more favourable mortgage before a new build is completed? I.e. exchange contracts with one offer in place, and then several months later apply for a different mortgage and choose that offer instead.
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Bridging loans / mortgage
I have been given the opportunity by family to build a house myself. We are able to get a bridging loan to build the house, however; we then want to live in the house and so have a mortgage once it is complete. It would be requesting a mortgage of £250k for a house that would be worth £450k. The mortgage funds would then…
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Can we expect support from the Mortgage lender to write to our Freeholder
We own a one bedroom flat in a converted house. We recently discover that the freeholder of the property had made changes to the demise moving a stair case. While this Is not an issue for us the freeholder has not regularised the lease plan for our flat that shows the original location of the staircase. We have asked the…
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To Pay Off or Not
Hi All I have about a Santander tracker with £193k outstanding on a property valued at circa £525k (pre Covid-19 and has about 13 years left to run. Once I sell my late mothers house I will be able to completely clear this however my accountant has said to me to leave a small amount on there and reduce the monthly…
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Best mortgage lender for flat above shop
Hi, I am looking to purchase a flat above a shop and with shops on both sides (A1). I understand that there are risks in terms of the potential for the use of the shop below to change, but I do think that the asking price compared is sufficiently low compared to other local property to account for this (discounted by…
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Help! Confused on whether to purchase a lower rate? (First time Remortgaging)
Hi I was hoping someone could shed some light on purchasing a lower remortgage rate. I am remortgaging for the first time and i have been offered: 2.74% @ £999 - Monthly repayments of £586.66 ( Interest payable incl fee £9078) or 3.19% - no fee - Monthly repayments of £619.59 (Interest payable no fee £9270) The saving that…
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Government equity loan & shared ownership
Hi all, Looking into buying a shared ownership property and I was just wondering if you could use the government equity loan alongside buying a shared ownership property, to help increase the deposit I have and increase the percentage of the share I can buy. Thanks for any advice given.
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Good deal worth applying? Can I when on C19 payment holiday?
Currently I’m on the standard rate from my lender. However I’ve took the Covid-19 pavement holiday to help in these times. Now my current lender the best deal they have is 2.59%. I just go off monthly payment, and I’ve found HSBC with 1.59% and is about £30/month cheaper. These are fixed for 5 years which I want. The HSBC…
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Remortgage now into its 7 month of waiting
Hi We purchased a house two and a half years ago with the help to buy 20% loan from the government and took out a mortgage with precise (as my other half had a new default). Back in October i started the process of remortgaging to a high street lender on a better rate. We got the offer from the mortgage company and thought…
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Mortgage and Lottery Syndicate
Hi all First time poster just looking for some advice. I have just begun saving for a mortgage deposit and my work colleagues want me to start up a lottery syndicate. Is this ok to do? Or will having £50 a month going on the lottery affect my future mortgage applications? Due to the sheer numbers of colleagues I wouldn’t…
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Remortgage - What do I need to do?
Hi, so I'm wondering if you could help me. We bought a house in January, which we always planned on doing up and remortgaging, to use the money we get back to pay off the deposit that we borrowed from my parents. The house was bought for £155k, and it was valued a couple of months ago at £210k, but we have done lots more…
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Removing name from joint mortgage
My husband needs to join a debt repayment scheme but his name is on the mortgage along with mine. I always have and will be able to continue to pay for the house and all the bills (he pays all his cc and debt bills currently). My questions are: Can his name be removed from the Halifax mortgage even if he continues to live…
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Overpayments vs increased monthly payments
Hi, I’m due to remortgage in 2 months time, am currently paying £390 pcm for my mortgage but do have the scope to increase monthly payments to £450 and then make the odd OP here are there. I’m just wondering, is it more cost effective to change my monthly payments, or keep paying the same and then make a monthly…
