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Odds of mortgage with maternity leave and furlough?
I appreciate that mortgages at the moment are changing very quickly, but if anyone had any advice then it would be much appreciated. I am 1 month into my maternity leave. I'm due to be off for 9 months, and I will be going back to the same hours. I am an NHS nurse, and my job should be secure. When I return to work family…
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Lender removes 90% LTV mortgages after I submitted an application for one!
Hi, On Monday I started an application with Nationwide to get a mortgage for my first home. They did the mortgage valuation today and we expected to hear back from them by the end of next week. However we have literally just seen in the news that they are withdrawing any mortgages over 85% LTV. Meaning that from tomorrow…
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Applying for mortgage
So my husband has already received his DIP but will now be progressing to the full application as we have found a property. The mortgage will be in his name only, however we do share a current account although we are not financially linked when checking credit reports. Will the bank still run a credit check on me or look…
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Mortgage advice - second property
Hi I’m just looking for some advice for my current situation. I currently own a flat with cladding issues but have a sizeable amount of equity on the flat. I have asked with my mortgage provider (Halifax) whether I could withdraw some of this equity to use as a deposit on a new property. I would then change my current…
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Payment Holiday vs Discount Period
Our discount period is due to end March next year. We have taken a 3 month holiday and am unsure if the discount period would be extended by 3 months, or the holiday would come out of that period. I hope that makes sense? I did try my mortgage provider but could not get through and nothing in the FAQs.
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Fee transfer for mortgage borrowing - do I need to pay it
Hi there, this is my first post so apologies if I've done it incorrectly. We are due to complete on moving mortgages to get a better deal and we are borrowing extra for a kitchen refurb. When we completed the paperwork for the solicitor, we are asked if you want the balance by electronic transfer (fee to pay) or cheque. We…
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Equity Loan + Incentive = Deposit?
This may seem like an obvious answer to some. But I just want to double-check. I have had an AIP agreed based on using my saved deposit, 10% equity loan and the builders 5% contribution (new build). Just to note, we are also first-time buyers. Would it be correct to include the total deposit (from combined above) in my…
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Poor Credit Mortgage
Hi All, long time reader but first time poster. My wife and I have saved around £30,000 as a deposit for a first-time-buyer house - but am struggling due to previous marks on my credit file. I've got 4 defaults on my file, 2 from 2015 and 2 from early this year (we moved to another rented property and I stupidly didn't…
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Question about searches during conveyancing
Hi, We have the conveyancing for a purchase in progress and have just been told that the conveyancer can order searches only after they receive the draft contract pack from the seller's conveyancer. Is that correct? Maybe I'm misremembering (or confusing it with a remortgage) but last time I did this I'm quite certain that…
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Mortgage circumstance change - months? Penalties?
Recently got accepted to university, but wondering if I were to defer for a year or soonest start the year at the March intake (therefore continuing to receive my low, but full-time income and be able to afford my repayments), would it be considered that my circumstances were going to change if I were to get a mortgage…
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New mortgage on previously ported mortgage.
Two years ago we bought a new house and ported our existing mortgage over to our new house with a second loan applied for the extra cost of the new house. So our current situation is: Mortgage 1: £67,000 fixed til 30/11/20 Mortgage 2: £72,000 fixed til 31/03/21 So our initial thought was combine and remortgage at the end…
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Stamp Duty costs when removing someone from mortgage
Im sure this has been covered before but any tailored advice would be hugely appreciated - * My (not married) partner and I are splitting up and therefore she will need to be taken off the mortgage and deeds etc. * We signed a Trust Deed which stipulates who is entitled to what. But my question is more around stamp duty…
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Nationwide 95% LTV
I wad just wondering if anyone has applied for this morgages with nationwide and is this actually available. I assumed 95% had disappeared judging by comparison sites. Even on there it states that its previous lenders. However, unless im missing something obvious i cant see on their site. I could ring up but id imagine…
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Mortgage Holiday when Selling a House
Due to the pandemic, I have taken a 20% pay cut and thus likely require a mortgage holiday. I am also selling my house - the sale will likely go through within the next couple of months. Would it be worth taking a mortgage holiday until the mortgage is paid off at completion...or would it be in my interests to continue…
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Valuations in Scotland
Hi! I’m literally sitting waiting for a valuation. It’s for a property I already half own. We had assumed it would be a desk top valuation but has anyone been told they will be havingfa physical valuation with potentially entering phase two?
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Mortgage Porting Etc
Hi all, We are about to list our main residence for sale. We have approximately 50% equity and 50% mortgage at present. We would like to purchase a lower priced property, probably about 1/2 to 2/3 of the current property value. However, we are still within our original mortgage agreement and are therefore liable to pay an…
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Tracker mortgages
Here’s a question for MSE. Why do tracker mortgages on the web site seem to be calculated on a base rate of 0.75% when the actual rate is 0.1%? Or am I making a colossal error!
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Self-employed: pay off business loan before mortgage?
Hi forum, maybe one of you is in a similar situation; my wife and I are both directors of a small Ltd company and are planning to buy a flat (probably via the shared ownership scheme) in about a year. We're saving for a deposit and have read about the obstacles for Ltd directors. We have an equipment finance agreement/loan…
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Income verified on application
Broker says our salary’s have been verified on application. does any one know what is next? So nervous and scared! They haven’t asked any questions yet!
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Mortgage overpayment - when house price falling ?
7 years on the mortgage . 1.64% fix 5 years. Spare cash to overpay at 300 per month and maybe some lump of 5 k to put in. Savings best is 1 % , overpay seems sensible but how do falling house prices impact that decision , if at all ?
