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Equity Release missold?
Hoping I can get some advice on my parents equity release mortgage. They took out a loan in 2010 for £25k. They were advised by Key Retirement who suggested a Just Retirement roll up lifetime mortgage. They had a few debts at the time but these only amounted to about 8k. The interest rate is 6.59% and they now owe 45.9k.…
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Issues with mortgage valuation
Hi everyone, So we just had a mortgage valuation completed for a property we are looking to buy. We got this message from the bank: The surveyor has confirmed a structural report is required and has provided the following details: ‘Building surveyor to complete an assessment of the chimneys and provide costs of any…
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Remortgage - increased earnings question
Hi, We are due to remortgage, do the lenders go off last year's earnings? I only ask as 7 months ago my income increased. Will the bank's take this into account? I am self employed. Many thanks.
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Difficult situation
Hello, iam looking for some advice or suggestions. I have a mortgage application approved and it expires in January. I am looking fo purchase a half share in a property I will inherit from my late mum. The other party is difficult and my late mums will still has not been settled. Due to Covid and them generally being slow,…
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Pay Day Loan Payment on Mortgage Application
Hello, I make a payment for my parent for a pay day loan weekly, I am not legally obliged to make the payment, nor am I named on the loan. So it isn’t my debt. Will it effect my mortgage application?
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Amend mortgage offer to lower priced property
Hi all. I am after some advice. We recently got a mortgage offer but due to chain breaking the property is no longer available. We have since chosen a different one (both properties are new build), which happens to be of a lower price (10% lower). Besides the obvious second survey, what else needs to happen? Clearly our…
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Mortgage application issues
Hi, I applied for a Barclays mortgage through Land and Country about 1 1/2 weeks ago, unfortunately the electronic id failed and I am required to send original documents providing proof of address. Electronic copies are not accepted and none of the banks I am with do paper statements so I haven't had any statements since…
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Remortgage with 2, 3 or 5 year fixed period during COVID?
Hi there I am due to remortgage my flat and was wondering should I remortgage with a longer initial fixed term, e.g. 3 or 5 years which would give me more stability during this time or lower fixed terms which comes with lower monthly repayments? Of course, it depends what is important to me but thought I would ask people…
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Mortgage and gambling
Hi I am just after advice really as I'm really worried. Me and my partner are applying for a mortgage. Offer accepted on £160k property with 90% LTV. £3200 would be our basic monthly income. Here's the part I'm worried about, the bank statements of the OH that have been sent to the lender... So July the gambling added up…
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Stamp Duty - New built house legally completed until April 2021
Hi! We've reserved a new house-built but if the construction of house will be finished in March 2021 but won't be legally completed until April 2021, will we be charged for the stamp duty even though we paid for the full reservation fee?Thanks!
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Experience with 'professional' mortgages?
I'm hoping to get some insights into professional mortgage schemes (i.e. available to certain professional groups such as doctors, lawyers etc.) While I know everyone's circumstances are different, I'm particularly interested in hearing positive/negative stories and any potential pitfalls I should be looking out for As a…
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Early Repayment Charge - Transferrable Mortgage
Hi just after a bit of advice. I'm moving house soon and were luck that we can pay our mortgage off with the difference between selling and buying prices. We have a 5 yr fixed deal with about 2 remaining on it so it has some early repayment charges. When I took out the deal I was told it was "transferrable" so I thought…
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Weird mortgage letter
Hi all, new to this so I’m just going to put it out there. Received a random letter from Barclays saying ‘Thank you for your recent mortgage application. We can confirm this application is now closed'. Has anyone come across this by any chance? Thank you
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Mortgage process
I am looking to buy a house with a mortgage and have £19,000 in savings. Preferably would like to buy a 3 bed house under £100,000 but know that not many come by in my area at this price and willing to pay more with a 10% deposit. However me and my partner have credit scores in the 100s (ClearScore) so may need wait a few…
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Why does every mortgage application with Lloyds/Halifax/RBS etc
have to go through a broker or video chat/telephone. So annoying
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Birmingham Midshires Transfer is Equity
I have a joint b2l mortgage and I need to change it into a sole mortgage ASAP. Has anyone gone through the Transfer of equity process with BM? How straight forward is it to do this and what do they consider when making a decision?
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Esurv valuation experience - down valuation or not
Anyone have recent experience with Esurv valuation? My buyers lender has instructed a valuation and I have been told Esurv will complete the valuation. looking through various I get the feeling these guys are notoriously bad for down valuations. anyone have recent experience they could share - what they did when they came…
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Possible negligence from my mortgage broker
Back in 2018 I spoke to a broker from Cater Associates Limited, he provided us advice and we arranged a mortgage directly through him, that went well, he believed he got us the best deal and as a customer we trusted him. We was purchasing a shared ownership property and completed the move in April 2018. In October 2019, we…
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Contractor with 2 Day Rates, Lender will only accepts 1, but we need a lender who will take both
Hello all, I'm hoping to get some advise here We found a house that matches what we are looking for, but its 3 times our current house. I am lucky to have 2 contracting jobs that pay a day rate, both rates combine should be enough to get us a mortgage for the higher house, my current mortgage provider will only take one of…
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Last minute shock in mortgage application - credit score?!
Hi all I've long come to MSE for advice and usually managed to find help in how others have solved their problems. I'm hoping you can again. I've just been going through the motions trying to get my first mortgage after we had an offer accepted on a house last week. We have 20% deposit (which in London is a considerable…
