-
Equity Release – Bank deliberately obstructive?
I’d be interested in any advice on my parents equity release
situation. My focus here is not on
whether it was mis sold or not, although personally I believe there is strong
evidence of that but so difficult to prove – both had very good work and state pension
income and as life long members of the bank really should have…
-
In a tricky situation with my Right to Buy application
So I recently received an offer letter through from the council to buy my home as part of the Right to Buy process. Owing to my 16-year tenancy, I am entitled to the maximum discount of 70%. The value of the property is £76,500. My discount is £53,500. This makes my final sale price £22,950. Today, I contacted Halifax in…
-
Endowment due to mature after mortgage redemption date
Hi, We have a part repayment/part endowment mortgage. The mortgage redemption date is Jan 2022 but after checking through some paperwork we have recently realised that the endowment attached to this mortgage isn't due to mature until August 2024. We bought the endowment with our mortgage for a previous property but when we…
-
Life Time Mortgage
Has anybody disputed a Life Time Mortgage/Equity Release on their late in laws house, we believe has been mis sold...
-
Kent reliance
Has anyone had any Experience with Kent reliance mortgages for shared ownership with bad credit ? And defaulted payments over 18 months ago ?
-
Halifax Final Checks
Hi All, We are due to exchange and complete on our first property in the coming weeks.Halifax have already done 2 Hard Searches - 1 in August on application and 1 in September. I am assuming they will do a final check before sending the money for the property but what does that entail? Is it just another credit search or…
-
MORTGAGE OFFER MADE BY HSBC ATLAST!
HSBS have just offered us £353k for 85% LTV although we applied for £369k as mortgage amount for a property worth £435k(Property valued at £438k). We have a deposit of 15% ready and they agreed on full application that they would offer the full amount although according to our income, we would have gotten £401k but keeping…
-
Endowment v Mortgage Repayment Plan
I thought I had an endowment as I have an interest only mortgage from the 1990s and that a Mortgage Repayment Plan (which is what I have, turns out) was the same as an endowment plan but they say it isn't. What's the difference? I've got units in 3 funds - foundation, balanced (can't remember the 3rd name) and I'm meant to…
-
TSB Mortgage stipulates "no business use"
I am just wondering if anyone is familiar with a new mortgage that stipulates "no business use". Me and my partner have just moved house and are on a 2 year fixed rate TSB mortgage, during the application process it stated that there must be no business use. I was just wondering how strict this actually is, and has anyone…
-
Advice on Exchange and completion
Hi all, We have just echanged on our new build property, We are due to comeplete some time in mid december. And have a couple of questions, any help would be appreciated I know its unwise to take out new credit during this time due to the risk of the mortgage being withdrawn, however, Close to completion I was planning on…
-
Do we have just too many red flags to get approved for a mortgage?
We decided yesterday to go ahead with our mortgage application, and we reserved a new build. We have an AIP from Halifax for a maximum of £257k. The mortgage is going solely in my fiancé’s name (I am on a DMP with terrible credit rating) he earns £56k per year, we have a £12,500 deposit and are applying for the help to buy…
-
Early repayment charge
Hi, we are in the process of buying a new house, we bought our current house in January 2016, on a 5 year fixed rate. Am I right in assuming we still need to pay the 1% ERC if we wanted to move in before Christmas? Thanks for any help
-
BTL under 50K
Hi Looking to remortgage on my BTL property which is worth just shy of 50K but struggling to find lenders. There is approx 28K left on the mortgage. Mortgage works were suggested but they could not help in the end due to valuation.
-
Right to buy mortgage
Myself and my wife are currently in the process of purchasing our council house from the council and we have been wanting to get our loft converted. My question is, with us getting a mortgage to purchase the house is there a way or can we get the cost of the loft conversion added to our mortgage at all? Would we need proof…
-
Second mortgage
Hi, i have quite a complicated situation and wondered if anyone could provide advice. I currently have a mortgage with my brother in all. I am on there as my sister was not able to so I helped them out. I don't live in the house and don't contribute to mortgage as that is covered by them. I now want to get a mortgage of my…
-
Booking Fee / Order to do things
Hi all I'm a FTB and struggling to understand parts of the process. We've applied for a mortgage with HSBC. They have made a lending decision and the valuation is fine - more than what we're paying - and now looks like we're at the stage where they're 'Ready for Offer'. Before this is done we have to pay a 'booking fee'.…
-
Leashold misunderstanding clause
Good afternoon, I was approved for mortgage loan. Now I am about to sign all contract papers. There is a clause which I don't understand: ' Not to use premises for anything other than as a private residence in a single occupation by one household. ' Could anyone explain what does this mean? Currently, I am buying 25% of…
-
First time buyer, spouse complications?
Hi all! First post on here so please bear with me if I do anything wrong. Wife and I are wanting to buy our first home together because we're sick of renting at this point, especially with pets and baby. Neither of us have owned property before. We each have a lifetime ISA. Wife is stay-at-home currently to look after the…
-
Can my mother pay off my mortgage
My mother is selling her property and will have a substantial amount of cash available. She is offering to pay off my mortgage amounting to £350,000. Is it possible and is there any tax implications. It maybe important to know that I am her only son and that she is divorced. Thanks for the tips.
-
Barclays mortgage 2nd extension
Bit of a story so here goes: We bought a new house off plan in October 2019, completion was May 2020. The mortgage offer was due to run out in April 2020 so we always knew we would need an extension. Our mortgage offer was automatically extended by 6 months in April due to the Covid situation. This current offer runs out…
