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Source of deposit changed...
Hi, My initial mortgage application stated that the source of my new deposit was from sale proceeds of the current property. Since then we took a reduced offer on a property after the sale fell through, and there is now a small shortfall on the equity release. I can still afford the deposit but I'm in two minds about…
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Mortgage offer returning from furlough
Hi there, We had a mortgage offer back in February and were on the way to buy a home, then everything went to standstill and I was furloughed for about a month and a half. We are now trying to get all the process back on track. My question is if I should communicate to the lender the fact that I was on furlough for a while…
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Occupiers Consent form
Hi can anybody advise please! My partner is buying a house in solely their name as my credit is bad. Although I’m happy to sign the occupiers consent form, i would like to know if my credit will be taken into account or affect my partners? Thanks in advance
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Nationwide valuation booked
Hi all, me and my partner applied for our mortgage through nationwide. We got an email saying they were checking documents and then today another saying the valuation is booked next week. Is this a good sign? Would this mean we have already passed the documents checks/credit checks?
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Adding parents to mortgage calculation
Can a parent or step-parents income be used to calculate the amount of mortgage you can obtain? What are the pitfalls of being added as a parent/step-parent if their salary is used to increase the amount of mortgage you can borrow?
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Advice needed for 2nd property potential?
Hi everyone. I've just signed up so be gentle. Myself and my other half have a mortgage on our current house of about £236k, over 24 years. This isn't an issue as our income is ok. The house got purchased for £255k, but after some renovations, I reckon it could be valued at this time at £290k-£300. My other half has about…
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Mortgage offer worry
Hi everybody. I’ve been lurking here for a Long time but this is my first time to post. Can you please help us in our situation? We are in the process of buying a new build. Got a mortgage offer last January, exchanged on February. Our mortgage offer was supposed to expire this end of June but it was automatically extended…
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what is the impact on your credit score if you move from a repayment to an interest only mortgage?
I am currently on the 4th month of a mortgage holiday and the bank have told me I cannot extend the mortgage holiday beyond 6 mths. I am out of work and I don't see that changing anytime soon. The bank have told me that after the mortgage holiday, i can go on an interest only mortgage but that will affect my credit score.…
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I need advice with remortgage options
My girlfriend and I purchased our current house for £140,000 (as first time buyers using her 10% deposit, so the house is split 55/45) on a 5 year fixed rate 2.3% mortgage with Nationwide building society. The house is a liveable although a little dilapidated; being nearly 100 years old and built on over an abandoned…
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Owner Finance - any experience
Does anyone have any experience of owner finance on a property? We have our heart set on a 4-bed flat in our area - approx. £195k, but we only have 5% deposit. I have a CCJ that's due to drop off in Jan'21 & 4 defaults, also due to drop off next year. Hubby's credit report is clean. Due to the size of our deposit & my poor…
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Change of property on existing Halifax mortgage offer
Hello everyone,I've an existing residential mortgage offer from Halifax obtained through a broker in March and valid until October. I'm thinking of offering on a new property and leaving the current one due to extensive delays. The property price, LTV (85%), etc. will remain the same, although I can now afford a 20%…
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New mortgage now I have accommodation through employment?
Hi all, can anyone tell me if there is a specific mortgage for people who receive accommodation through their employment? We moved out of our owned property 2 years ago, and now have a tenant in situ. Our mortgage was changed to a 'to let' mortgage with extortionate interest rates. Is there an alternative?
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Temporary Pay Reduction - Completion in 2 Weeks
Hi all, Bit of a nightmare time but my employer has announced temporary 20% pay cuts for staff earning over a certain threshold. We are due to complete on our purchase next Friday so this is obviously a bit of a nightmare in terms of any final checks. The odd thing here is that I'm actually still earning slightly more now…
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Mortgage - maternity allowance
Does anyone know if banks can take maternity allowance as income when applying for a mortgage?
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What's the minimum deposit required for a mortgage
For a 100k mortgage and a salary of 20k. No other debts... apart from credit card with limit of 5k and 500 balance. Could we pay 5 percent deposit is that even possible especially in this crisis ? Also what other costs should we bare in mind?
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Applying for a mortgage with only a Monzo current account
Good morning all, My partner and I both ONLY have Monzo current accounts (we also have a joint Monzo account) We are saving and hoping to apply for a mortgage next year - are we at any kind of disadvantage having all of our money going in and out of Monzo only? Should we look to have accounts with more traditional banks?
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Remortgage of property with leased solar panels. Company want £200+ fee.
Hi, I am in the process of remortgaging my property with a new lender. They have asked the solar panel company for a "CML letter" and the company are now asking us for over £200 for this document. Is this all normal? When we first took out our mortgage I wasn't made aware of any fees in the future. Thanks in advance.
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Ex partner wants to get name off morrtgage
Hey guys My sister needs advice. She's been divorced for 5 years. She's on an interest only mortgage. She's been paying the interest element of the mortgage for the last 10 year's. Still another 15 years left.... he doesn't pay towards the house which is understandable as he doesn't live there anymore. So if his name is…
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Help to Buy. Is bonus pay acceptable anymore?
Can anyone help who recently submitted a help to buy application within the last month or so? Does anyone know if help to buy accepts bonus pay anymore? i played with the sustainability spreadsheet and can see that any bonus amount is halved for the sustainability calculation. But in light of covid, do they actually take…
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Cladding on Buildings Under 18m
Hello, From reading online, since 2018 when advice note 14 was distributed, those in buildings over 18m have been unable to mortgage properties unless the relevant cladding tests and EWS1 forms have been completed. There is a big thread on the topic on this forum. It appears that in January, the government released…
