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Santander Underwriters "have left notes"
Hi everyone. Just chased up Santander and been told that underwriters have "been in my application and left some notes." So they have been working on it. I know it's all out of my hands but would an underwriter make notes on an application as standard even if there were no issues with it? Ta.
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Buy to Let Remortgage - tax implications
Hello I have a
property I rent out which holds significant equity of 90% (10% LTV). I previously
lived in this property for 4 years out of the 12 years owned. I am thinking of re-mortgaging this property to
raise funds and thus taking my mortgage balance back to 75% LTV…..this will
give me around £80,000 in ‘cash’. If I…
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Barclays cutting loan to income multiples
https://www.mortgagesolutions.co.uk/news/2020/09/04/barclays-cuts-lti-for-all-cases-not-at-offer/ Does anyone have any understanding for the reason and whether this is temporary? I’ve also heard that NatWest is due to announce similar moves.
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Mortgage Valuation - Gap in Tile In Roof
Hi I've just had a mortgage valuation by a surveyor - just the cheap walkaround one (guy was here for 10 mins if that). When the surveyor left he was looking up at the roof so thought I'd get up in the loft to see if there was anything he might have noticed whilst up there and I spotted daylight and one clear gap at the…
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Mortgage income - Self employed (PAYE + Dividends) vs Employed (PAYE)
Hi, I am looking to understand how mortgage lenders assess income and therefore affordability and decide on the value they will loan. Ideally I am looking to hear from those in the business i.e. brokers, underwriters or people that work for mortgage lenders as I am confused really and so just looking to understand if my…
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Way to boost mortgage offer
I recently sold my property. My plan was to house share for a few months to build a bigger deposit. Unofficially, nationwide say it's pretty easy for me to get another mortgage. I am considering applying for a different job closer to home. The pay is £2k less per year. I doubt I'd notice that drop in pay as I'd probably…
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have i passed the credit check hurdle?
so....using Natwest, going direct. Got an agreement in principle online. Applied online. Today i got back an application pack and a letter with the loan amount, mortgage reference and property address, Thank you for choosing NatWest for your House Purchase. I am delighted to advise you that we are prepared to further…
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Overcharged on mortgage for 8 years
Hi All Hope a financial wizz can help... I’ve just been informed that I have been overcharged on my mortgage since 2012 each month total of £4500. Bank has admitted its there mistake. As this charge was each month since 2012 until last month and not my choice do i have recourse to a claim for compensation ? And if so how…
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Should I avoid to request credit report too frequent?
I settled my car finance on 21/08/2020, but the credit file is not updated yet. I signed up and checked with Equifax, Experian and Checkmyfile 3 times this week. I am just wondering if I am planning to submit mortgage application next month or after next month, should I avoid to request credit report too frequent?
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Libor rate very low and dropping daily?
My mortgage follows libor it has dropped to 0.2% and is dropping daily. How low can this go? Seems to be in free fall not that I am complaining?
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Government loan scheme
My son is considering this scheme through Bloor homes. The way I understand it is he puts 5% deposit down, he gets a mortgage of 75% and the government loan him 20%. When he sells, the government then take 20% of the selling price. Have I interpreted this correctly? And are there any pitfalls he should know about?
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TSB MORTGAGE TIMESCALES SCOTLAND
how long did people wait hear back from Tsb about a mortgage can someone share timeline please thanks in advance.
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Halifax - covid affected - self-employed friendly?
A broker told me yesterday that currently Halifax were the most "friendly" lender when it comes to anyone recently affected by covid due to the nature of documents they generally request. Does anybody know if this rings true? Thanks.
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Going direct vs. using a broker - risky?
Recently put down a reservation payment on a new build, seller keen to promote their appointed "free, independent" conveyancer and broker.Had to nominate a conveyancer/solicitor and a broker/adviser on the reservation agreement, which I was lead to believe had to be completed within 48 hours of agreeing a purchase price on…
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Splitting a land title in 2 or mortgaging 2 properties on one land title.
Hi folks i hope i am in the right group and looking for some advice. I have built 2x houses on land that i own and would now like to borrow against the properties. The problem is they are still on one land title and the mortgage company does not seem to like this. I have tried splitting the land but the Hm land registry…
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FTB advice on whether we would get a mortgage
We are both 39 and have 3 children. Never been able to get on the property ladder before but due to inheritance we will have some money to put towards a deposit finally. Basics figures are both work. Joint income including regular on-call allowance and car allowance is £80k. Debts are about £3k total on 2 credit cards,…
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Struggling to know where to start
Hello everyone, Thank you for taking time to read this post... I don't believe our finances are in a good enough shape to yet be considering a mortgage, but I am seeking some guidance on our circumstances and keen to hear any advice you may be willing to give. * £20K Personal Loan outstanding * £8K Car finance outstanding…
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Remortgaging after using porting feature
Hi everyone, hoping for some advice. I want to avoid paying Early Repayment charge and port current mortgage, taking an additional product to cover the balance to move to a bigger house. Nationwide has said you then have 2 sperate mortgage accounts and cant combine them. We just wondered, if we remortgage to another…
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Mortgage Offer received but valuation report missed out ground rent
After a very long and painful process of mortgage application, we finally received our offer last Thursday. Just yesterday we were told by our solicitor that the valuation report did not include ground rent - so she has informed the lender who in turns has refer back to the Valuer. Does anyone know what is going to happen…
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"Self Employed" due to shareholding in company - despite salaried by Employer..help!!
Hi there Haven't posted on here before but wanted to just see if anyone had answers. We are in the process of a mortgage application with Metro Bank and have been for the last 30 days so far. The latest thing that they have flagged is that my partner is classed as Self Employed - simply because he is a Director with more…
