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Trying to understand my offset mortgage
Hi, I'm hoping to get a better understanding of offset mortgages, so any advice is appreciated... My situation is I currently have an Coventry BS offset mortgage of £175k with 21 years remaining, my fixed term deal has lapsed and I'm on the variable rate of 4.49%. The rate hasnt bothered me as such as I've had £175k in…
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Mortgage Offer - Change in Property . LTV Change ?
Hello, Not sure if anyone will be able to help with this one but will ask anyway. I had a mortgage offer agreed before lockdown (about 94% LTV) we since pulled out of the purchase because of a few reasons - the main one being the price and it not being a long term property for us to live in. We have seen other properties…
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Commuting costs on mortgage application
Hi all, my partner and I are looking to sell our flat in London and relocate to Bristol. My partner is self employed and works from home and can continue to do this. We have a decent amount of equity currently, so should be able to borrow what we need on just her wage. However, we have seen some nicer properties that would…
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Arranged Overdraft and Mortgage
Hello, Just looking for some advise/experiences with Nationwide and use of an arranged overdraft. We are porting our existing mortgage of 175k and asking for an additional amount of around 70k to purchase a house with a 10% deposit. We have a DIP and are well within our borrowing allowance based on our salaries. Are…
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Adverse credit history but desperate to move...
We sold our house back in 2018 and are currently renting owing to our adverse credit background. We completed a DMP 3 years ago and have 3 x defaults on file (the latest being June 2015). We have a 20k deposit and no debt. We earn 78K between us. What are the chances given the current climate of getting a mortgage? We're…
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Mortgage holiday effecting credit history
Hello forum, I am in process of buying my next house. My mortgage for the house has been approved and we are waiting for searches and our sellers to sort our their mortgage. I also have a commercial property, a restaurant which is currently closed so not receiving any rent. So I have requested mortgage holiday and have…
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Cancel
Cancel....
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Borrowing from lender with old (6+ year) adverse credit
My partner and I will be looking to buy our first home shortly, and we are interested in using the Scottish First Home Fund to help us. There are a limited number of providers who offer mortgages for this scheme, some of which are - HBOS Barclays Nationwide TSBPlus a few others I previously have been on a DAS (Scottish…
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How long will a bank keep a mortgage application on hold?
Anyone know how likely a bank is willing to keep a mortgage application on hold? Our broker managed to get our lender to put our mortgage application on hold in April until we get our forces help to buy approval (my boyfriend has had to work from home end of March-end of May due to covid and only went back 2 weeks ago) as…
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Title of Transfer and settling the ex
Currently going through a divorce and a title of transfer with my soon to be ex-husband. We are having a clean break. I am buying him out (40k) with help of my parents (early inheritance) and just wondered if there are any ramifications to this with regards to tax etc? It’s all going through a solicitor, at the same time…
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Matched betting and trading
Made a new thread as last 1 a little unclear. Applying to port my mortgage and not sure if port will be completed by Tesco or Halifax. Will they check my bank statements? The reason I ask is that I've done some 4 figure matched betting and trading
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Tesco mortgage and bank statements
My Tesco's mortgage has recently been transferred to Halifax. I am looking to port my mortgage however my bank statements might be a concern as I've done a lot of matched betting and trading I'm the last 3 months. Halifax state they don't check bank statements however as I'm still kind of Tesco mortgage is it possible they…
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Failing to declare that I'm renting out my property
Three years ago I left my full time job, gave up my career, moved away and started a new life as a volunteer for a charity. I rented out my property which pays the mortgage fully each month. I contacted my mortgage company beforehand and filled in a form which allowed me to rent out my property for two years without any…
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Offer error
Hi everyone. I am just staircasing with Barclays from 30%-40%. I had the offer with no issues and it went to all relevant solicitors and the housing association solicitor noticed that the offer amount varied throughout the document and the address was incorrect. Is this a major event that will necessitate in the whole…
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Worth taking the ERC hit?
First of all before I start, I know part of this is built on the fear of current predictions that house prices are going to keep dropping for the next 2-3 years. If you think my idea is daft, by all means tell me! Me and my wife (+2 small ones) bought a house in 2018 for £210k, 39 year mortgage, small deposit on a 5 year…
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37 year mortgage - the only option
Hi Does anyone else have a 35+ year mortgage ? Or help put my mind at rest that I’m not making a huge mistake? We are FTB , 2 young kids with no more planned. We have a decent £52k deposit and have had an offer accepted on a house at £230k We have been renting for 7 years and it’s been tough building the deposit up but are…
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Mortgage overpayment advice
What is better? Example..if I have £3600 that I can overpay is it better to A. 1 lump sum of £3600 or B. 12 monthly payments of £300 Thanks in advance
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Missed mortgage payment
Hi, My ex partner didn't make her payment on our mortgage, now it's bounced. What is the repercussion of this? Please help I am worried, once it's sold will I ever be able to get a mortgage again?
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Mortgage application - paid via BACS but payslip says Cheque
Hello everyone, Our mortgage advisor has said that some mortgage providers state that pay slips that state cheque payment method on payslip is an automatic no. However the payment is a BACs payment. We have evidence of payment in the account obviously and the p60 also reinforces this. Should this be a problem for us? It's…
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One for brokers/mortgage experts
Hello All, Looking for options to release equity - if at all possible, and put this towards a deposit for a bigger home. My circumstances are: I have a 2 bed London flat in decent enough location. Outstanding mortgage approx £72,000. 2nd charge - 1/3 value of sale price, minus added value from renovations I made.…
