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Application pack sent
Hi there. I just received a text from Santander: An application pack has been sent for you to review. Please send us any supporting documentation we've asked for so we can go ahead with your application. Had my mortgage appointment yesterday and was told it was being sent to underwriters. In respect of the application…
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Borrowing More When Remortgaging - Second Product
Hi All, I currently have a mortgage deal with YBS with my current deal due to end on 31st October, when I renew it I would like to borrow a little more of £10k (my LTV currently is 47%) as I would like to buy a caravan. YBS are saying to me that I have to borrow the £10k as a secondary part of the mortgage for which…
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Regulator proposes "tailored support" for mortgage holders once payment holidays end - MSE News
The Financial Conduct Authority has said firms should consider a range of support options - including waiving or reducing payments - under new proposals to help mortgage customers who are still struggling once coronavirus-related payment holidays end on 31 October... Read the full story: 'Regulator proposes "tailored…
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Info/advice required RE coming off mortgage
Hello everyone, I am hoping someone can give some advice please about leaving a mortgage - short version is - was married, had a mortgage on a house, we split up 6 years ago where I moved out, now divorced. Ex has remarried since. I have been living in rented accommodation since but would like to one day buy my own house.…
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Switch Mortgage Early - Worth it in the Long Run?
Morning - after some advice if possible. I have a fixed rate mortgage which i have entered into the MSE "Ditch Your Fix" calculator to see what rate i would need to get to make it worth while. My numbers are as follows: Main Mortgage has £44930 remaining at a rate of 2.48% fixed until 28 Feb 2021. The early repayment…
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Mortgage retention question
hi, I have a question about mortgage retentions. Property valued at £120000 Offer accepted £100000 But the property needs £10000 of work. Can there still be a retention of £10000 placed on the mortgage or does the fact it is being bought for £20000 under the valuation cancel that out? Thanks.
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Share of freehold property
Hi all, just need some advice from you. For mortgage lenders, do they worry about the remaining years on the lease for a share-of-freehold properties? Will that pose a difficulty to get a mortgage for a buyer?
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Struggling for 90% mortgage
Hi we are both FTB and have been outbid on 4 houses since the property market opened back up following lockdown. We finally had an offer accepted on a house which we love but we are massively struggling to get a 90% LTV mortgage. I first instructed a broker who told me he would definitely be able to get me a mortgage, he…
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Absurdly Low Home Report Valuation
I spotted a period house listed at 200k in a popular area. They regularly sell for 250 - 260k in this type of condition (dated period home, sought after postcode) as they tend to go for 325 - 350k once done up. Regardless of covid impacting prices, the valuation is ridiculously low so we offered an initial £228k. It was…
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Broker role after exchange
Is the broker involved in any way following exchange? Just keen that if they are, I keep them in the email chain as to whats going on. But if they aren't involved I will not spam their emails anymore than is required!
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Student loan affect on mortgages
Hi, My partner and I are planning on applying for a mortgage soon. I am employed, he is self employed and together earn around £45k/year. We do however have a combined £65k student loan, how will this affect the amount we can borrow? We have a £50k deposit. Many thanks
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Halifax Product Transfer
Hi everyone, long time lurker but have just signed up for everyone’s expertise. My partner and I bought our house in May. It was a probate property that needed lots of work. We have since done considerable improvements to the property that has added value to the property of around £50,000 according to a local Estate Agent.…
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How quickly will I hear from halifax if application refered to underwriters?
MA applied for mortgage in principle this am. He has been informed due to my husband being self employed it will automatically go to review by an underwriter. Said we should hear within 8 working days. Just wondered if anyone has been in same situation and if you heard back any sooner 🤞🤞🤞🤞 or is it wishful thinking
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Can we apply to more than one company at a time?
We have recently been declined by nationwide. Our MA spoke to halifax before applying and as my husband is self employed our application would always need to go to an underwriter for review. Currently with halifax is 8 working days. I wondered could he apply to more than 1 company at a time, so at least if halifax say no…
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Claimed Government grant and been able to get a mortgage?
My husband is a self employed carpenter who had to taken time off over the lockdown as 85% of his work was in peoples homes. Hes now busier than ever. We have been turned down by nationwide (who we have our current mortgage with). We do have a loan/cc outstanding and nationwide mentioned our constant use of overdraft as a…
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Getting a house revalued for remortgage?
Hello, will be due for remortgage for the first time in the UK. My wife and I bought a repossession property that was uninhabitable 2 years ago and now (£30k later) would like at least a rough revaluation done on the house for remortgage. Any advice on this? Is it something I talk to the bank about? (currently Santander…
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Rates on secured loans lower than mortgages?
I've been thinking about buying a holiday home with my parents. My parents are retired and own their house outright. A financial advisor suggested that our best option is to take out a secured loan against their house. However, I can't find rates quoted online for this sort of loan - seems like you have to speak to a…
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Solicitor help
Sorry to be a pain but I’ve an urgent query that I need help with tonight. Ive a mortgage offer agreed and I am due to meet the solicitor in person for the first time tomorrow. They have already sent us a few letters as we have kept in touch via the phone. What I am looking to know is what documents do I need to bring…
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Excessive ERC on my mortgage
Good Evening, After a bit of advice. I have agreed to sell my house and due to lack of options I wish to move
into rented. However, I am tied into a
fixed rate mortgage. There is not long
left on this mortgage (less than 4 months), however my ERC is 8.5K! To put this into perspective my mortgage
payments are around £750…
