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Mortgages & endowments

Archives for August 2020

Should I borrow more than I need on mortgage because I can?
I have been offered more than I actually need as a mortgage amount. Given times are tough, should I borrow the full amount so I have an a bigger safety net or borrow just what I need so my monthly repayments can be lower? I don’t want to get into numbers too much, just looking for your opinions. If I borrow the full…
Consent to Let
My partner's business has been struggling since the coronavirus and has recently moved in with me. She has a mortgage with the Loughborough Building Society and a friend interested in renting the property, however when she contacted the mortgage company about to consent to let, she was refused. They have suggested that she…
Buying a council house
So been in the house for 4 years. I believe i get a 35percent off according to my neighbours to buy it. Would i need to get a desposit together? Or would the 35 percent discount going to account for the desposit ? Also would standard banks give a mortgage ? Or will i need to go to a special company? The house is 100k. I…
2nd time buyer
Hi guys. I'm a ftb, looking at moving on. Just have a few q's whilst I work things out. I bought at around 90k 5yrs ago, 10% deposit, value now around 120k. It was a repayment mortgage, so think I have repaid 12k equity not including interest. Does this equate to around 51k total including rise in value? Would I be right…
Habito?
Hi there. Has anyone had any experience in dealing with Habito? Just wondering what they're like as an option for using them as a broker. Thanks.
Chances of a Divorce Buyout Mortgage for Self Employed Home Owner
Me and my wife are getting divorced, our home - which is in both our names - is completely paid off and has been valued at £200,000. I want to get a remortgage for £100k to buyout her share. I am able to use £15k of our split cash as a deposit towards, leaving an £85k mortgage required. Here is my finance stats: * I am…
Halifax Mortgage wait
Hi all I'm wondering if someone can advise on our situation. Me and my husband sold our property & my parents have sold theirs. We are purchasing a property together with a 45% LTV mortgage. My husband and my mum are the 2 applicants that applied for the mortgage as my income is through my Ltd company and my dad is…
1 week wait for banks MA
Hi , I am starting to stress with the delays on everything, is it usual for there to be a 1 week wait on MA to help with application at bank? to book a 1hr 30 min appointment says 1 week wait yet you can phone for help? Are all banks doing this?
Joint Mortgage Renewal After Separation
I have been separated and living apart from my wife for 27 months now. two years ago I was happy to sign to renew the mortgage and give time to sort things out, maybe even give time for a reconciliation. However, things went from bad to worse, I've now met someone else and nothing has been sorted, despite my best efforts.…
Mortgage with reduced PT self employed income
Hi all, We are looking at moving home and need to acquire a larger mortgage as it is an upsize. My wife was on mat until August and then her work said she may as well stay on furlough for a while as well as she wasn't strictly needed back due to enough staff for now. They are happy to give her a letter with full salary and…
Waiting for halifax decsion... so worried I cant sleep!
Prev declined by nationwide due to use of (approved) overdrafts. MA applied to Halifax. AIP agreed, everything 100% truthful but im so worried about decision its literally keeping me awake at night. I work for nhs obvs no drop to income during covid (infact income increased due to picking up extra shifts) but my husband is…
What's the next step?
6 weeks since mortgage offer.. All searches, valuations, surveys, relevant questions and documents have been answered and exchanged. My solicitor said she was waiting on my mortgage offer letter before she could proceed. Quick call to the bank and they emailed it over to her. What happens next does anyone know? We havnt…
HELP !! I need to find out who built this house !
Im LPA for my ex partner who has suffered severe strokes, so I cannot get info from him. Im helping him raise funds to pay off his ex from divorce. All reasonably amicable. We are trying desperately to mortgage a house he lets out, and have just been refused by TMW. The surveyor valued it as zero and said he believes it is…
Is it worth stretching to hit lower LTV benchmark?
I am £5,000 away from hitting the 75% LTV benchmark (putting down £100,000 for £420,000). Would you stretch to £105,000 deposit which would give me a 75% LTV rather than just over 76%? Looking at the interest rates (Barclays), the interest rate will be 2.25% if I put down £100k but 1.84% if I put down £105k, but the extra…
Broker yes or no?
Just wanted to post my experience of my mortgage application for those that are questioning if they should or shouldn’t use a broker. I have previously organised my own mortgages, been simple and have had no issues. A friend of mine used a friend who was a broker and spoke very highly of her. We’ve renovated and now have…
Halifax Application/ Offer process
Application submitted June 12th, still haven’t got a satisfactory offer and now it’s holding up exchange. Brief Summary application submitted - June 12th approved subject to valuation - June 22nd 1 month silence for a valuation date, but thank God all the searches we’re carried outValuation booked - July 30th 1 week for a…
Shared ownership staircaising affordability (and a thank you)
Good evening all, It has been a while since I have posted on the forum and I would like to open with a long overdue thank you, to all of those who have given advice and information, past and present across all sections of MSE. It really has had a big impact on my life. Long story short: 4 years ago, I had zero savings and…
Mortgages on flats - is the EWS1 situation as bad as some are saying?
Hi - I’m selling my one-bed flat in a purpose built block in London. It’s leasehold and I have a help to buy loan of 40% to repay. The block was completed in 2017 by a private developer, and there are conditions in the lease to ensure it remains more affordable than market rate and I can only sell to those who don’t own…
Should I switch brokers?
Hi all I am getting really upset with my broker a month ago he was trying to get us a DIP it failed due to the criteria, I was a little annoyed as to why he put us thru it on the first place I also had to point out a few mistakes along the way also. We are trying to go for a HTB mortgage and he originally said Kensington…
New Mortgage Help
Hi all, Hope you’re all safe and well, I have recently accepted an offer on my house for £320,000 and had an offer accepted on a new house for £240,000. Currently due to financial commitments, I can borrow around £70k due to having a loan, and credit card debt that has been used for wedding, house renovations and having a…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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