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FTB and defaults
Wondering if any MAs can advise as to approx interest rates for this situation? Trying to work out whether, if an ideal property comes up, we should go for it or should hold on as we're only 24 and 26. FTB looking to buy with FTB partner. Combined income: £54,000. Secure jobs. Deposit: £39,000 House price: 230,000-250,000…
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Credit card debt threshold
Hi all, FTB here, I’ve noticed when inputting ‘my outgoings’ into various affordability calculators, there seems to be a threshold of around £5000 credit card debt before the offer starts to decrease, is this correct? It also seems to apply to monthly outgoings like pcp/phone contracts too. Say my max offer is £202,500…
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Mortgage in the future - is it a pipe dream?
Hello everyone, I am looking to apply for a mortgage in approx two years. In that time I will have saved 10% using a LISA and my Halifax savings account. However, at that time I will have 1 missed payment (5 years 9 months old) and 7 payday loans (2 years 6 months old) at the time of my application. All being well, do I…
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High mortgage valuation problem
Buyer is struggling to get TSB to sign off a valuation that came in higher than sale price due to system problems Has anyone heard of this before or even experienced it? I can’t understand why this is a problem as it can’t be uncommon! Are we wasting our time waiting for this to be fixed??
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Separating and worried
Hi, my wife and I are separating. She is buying me out of our property leaving me with a deposit of £60k. I’m 44 and will be looking at borrowing 60-80k for a property. I earn 25k , have a credit card but it’s clear and I have 2 kids (9 & 5) who will be living with their mum and we have agreed to no maintenance (as I will…
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Mortgage application with a new job?
Hi everyone, I have a question around mortgage applications with a new job especially during the pandemic. Our story is that I accepted a new offer before even thing about a mortgage - same line of work (title change but for the better), different company but one of the most reputable companies in the UK, permanent…
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Occupiers consent and postponement deed
Hi all advice required please My new hubby and myself are purchasing a new property bottom line is I didn't really want to be on mortgage as I will be putting in half upon the sale of my sole previous property and plan to also clear any debt I have to start with a clean slate 😊 so getting a joint mortgage would probably…
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TFC Homeloans & The Family Buildinb Society
Morning all, Does/has anyone had a mortgage with TFC Homeloans / The Family Building Society? My partner is looking to remortgage his property with them and as they are not a well known (to me) lender I feel nervous about this. Does anyone have any experience with them? Many thanks, Anna
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Taking out a furniture loan after mortgage offer?
Hi, I recently accepted a mortgage offer from HSBC for a new build property to be completed in October. I'm FTB, mortgage is 75% LTV, borrowed amount is 3x income. I'm considering buying some furniture now with a finance plan (12-24 months interest free), which is similar to taking out a loan and involves a credit check.…
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Advice on when my 2 year fixed mortgage is up
Hi all. My partners income will be staying the same (21k per year) mine is (27k per year) Mine and my partners mortgage renews in April, and my current job is becoming unbearable, with the amount of hours I have to do, so I am considering becoming self employed earning the same amount of money but less hours. When coming…
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AIP Decline
In December me and my partner applied for a remortgage with Halifax that passed a soft and hard credit check with no problem. We didn’t go ahead with the remortgage because our property wasn’t valued enough. We’re now in the process of buying an inherited property our LTV will be 75% this will be borrowing enough to pay…
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Re-mortgage or not..
We are currently on a fixed rate of base rate plus 2.09% and have been since 2009. We have been overpaying and have about 8 years to go. I think we should at least consider re-mortgaging but DH thinks by the time you factor in the fee and the deal ending then having to move and there not being a deal that is equal to what…
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Mortgages and my overdrafts
I have £900 between 2 bank accounts of overdrafts. I work part time in 2 jobs and never had enough after bills and payments to pay off my overdrafts. I’ve had them for over 6 months. I’m now looking to get a mortgage with my partner and wondering g what the best thing is. I have money saved that I could pay the £900 off,…
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Multiple soft searches after hard search?
Hi all, Our mortgage application went in with Precise on the 14th August. We've just checked our Experian reports today, and Precise did the hard search on the 14th as expected, but then they've done multiple soft searches pretty much everyday this past week. Does anyone know why this might be? We are FTB and are feeling…
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Furlough mortgage help
Does anyone know of any mortgage lenders who currently are not requiring evidence of return to work documents for furlough employees and just happy with salary related affordability checks? My other half and I are first time buyers of a new build but awaiting another mortgage offer after the previous one expired. My other…
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Amending Mortgage Offer and Rate Change
Hi. We recently had a mortgage offer approved subject to valuation with Santander. The valuation ended up coming back lower than our offer so we have had to renegotiate on price which now means the mortgage paperwork needs to be amended which we're doing this week with the MA. Since we applied, the original product (75%…
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should I pay off my mortgage
I have a tracker mortgage with HSBC-no overpayment fees, 1.79% over the base rate. am in an unexpected position of recieving some money from a lovely elderly aunt that passed away and not sure if to pay off a significant chunk of my mortgage. should I look for any better mortgage deals or is this still a good one? my…
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Buy To Let
I have a home in central London worth £1.5 m and I want to move out and get a £800k buy to let mortgage. Houses on the street rent for about £40k per year. I'm new to buy to let, so if anyone with experience could advise if this would be feasible and best broker to use.
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Decision in principle Vs Mortgage Offer
Hi Everyone, I hope all is well! Me and my partner have made an offer on a house which has been accepted! We are putting down 20% deposit and our HSBC decision in principle is showing £29,500 more than we need to lend, although we also got a decision in principle from Halifax at £15,000 less than we need to lend. We are…
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How to invest to prevent the H2B hammer after 5 years
What investment plan would you choose to increase the steak needed to pay back the equity loan after 5 years?Due to the short investment time, considering the long term ones, I would go for something with more bonds that usual, something like around 40% bonds and 60% shares, or 60% bonds and 40% shares. I may also consider…
