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No debt, saving for a mortgage, credit card use? Good/bad/indifferent?
Hello all. My wife and I have no debt and are saving for a mortgage. I use a credit card for general spending which I pay off in full every month. Will this cause any detrimental impact on our mortgage affordability or potential. Does using a credit card this way, rather than paying directly from my debit/bank account at…
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Any signs of rejections, offer withdrawals or changes due to COVID?
Has anyone had their application rejected in the last few days, offer withdrawn or offer issued under different condition (higher rate) due to Covid specifically? If so can you please share some details and mortgage provider? Let's keep this factual please :)
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how much profit do banks make on a mortgage?
Hi all I am researching UK bank mortgage profits. Leaving aside "fixed" overheads for buildings, wages, etc., does anyone know how much profit a mainstream mortgage lender makes off you? E.g. if you pay £1,000 in interest for a month, how much is actually profit for them? I'm talking about a normal residential mortgage…
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What makes the best mortgage?
Please bare with me, a bit of info to follow here... Borrowing: £145k Deposit: £55k Offer accepted on house and in process of selling own home. All deposit money comes from sale of house. Secure financial circumstances. Currently shopping around to see what's available to us on the market. All great quotes but it's bugging…
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Acceptable Income
Hiya Im currently saving towards a deposit for my first house purchase - had just got to 10% but seems I need to get to 15% given the current climate (and less than perfect credit history) Anyway, I’m buying alone and my salary isn’t great - £24,000 pa, I also receive PIP of around £4400 pa, however the company I work for…
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HSBC porting and Early Repayment Charge
We completed on 16/10 stayed with HSBC as per Mortgage Advisors advice to avoid Early Repayment Charge so ported our current mortgage over and have borrowed more to make up the difference. We have been charged an early repayment fee does anyone know if this is right? The Mortgage Advisor told us we wouldn’t be paying it.…
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Extension on Consent to let denied whilst abroad
I live abroad and have been renting my flat out on a residential mortgage with a consent to let. After two years I was told I need to switch BTL mortgage if I wanted to continue renting out the flat as was given 6 months extension on the consent to let to organise the BTL. Then Covid happened, the application for the BTL…
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Prudential Lifetime Mortgage Nightmare...
Hi everyone. I really need some advice. My Mum died in February, my Father died three years before. I am an only child and the house has been left to me. They had a Prudential lifetime mortgage on their home which they used to improve it. I am now in the position of dealing with people with no compassion and the only talk…
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90ltv
Are 90ltv products available yet?
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Mortgage Lender
Hi, I am in the process of buying my first home, which is a cluster house, but my original lender my bank says it unlikely they will be able to lend to me due to the style of the house. Has anyone on here had problems in getting a mortage for this type of house or are there specialist lenders for these type of homes. Thanks
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60% LTV deal @ 1.99% or pay £999 for a 1.49% - or WAIT...
Hey guys, I need to remortgage in November, currently with HSBC. Valuation is 60% LTV, I want a 5 year deal minimum and the rates being offered are as above... I have till end of November, but rates can change at anytime (as i found out the hard way - when i received my letter, as i could have got 1.54% with NO FEE! ) Im…
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Mortgage - Going our separate ways
Hi, Please dont gun me down. Its quite a straightforward question (or maybe not?) but I just wanted to get some input from people with more experience or knowledge of this situation. I have a mortgage with my partner (not married) and we are both on the mortgage. We are basically going through tough times without going…
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Deeds/mortgage
Can I have my name on the deeds but not mortgage? I am married , my husbands credit is good mine isn’t so I didn’t want to be on the mortgage in case it hurts his application but for security want to be on the deeds is this possible? We are first time buyers both 39, married 16 years
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Should I add my partner to the mortgage?
I have a complicated situation and need some advice - there is both a financial and human side to this so I need to consider the "right" thing to do both financially and morally. I have been with my partner for approximately 6 years. For various reasons they do not want to get married, however we are actively trying for a…
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Halifax Life Fund
I have 3 funds within the Halifax Life banner - foundation, balanced and opportunity. On asking where I could find the buy/sell price of the units, I was directed to the Scottish Widows website where there are umpteen funds. The umpteen funds are then sub-divided into Halifax Life 'single price' or 'dual price' funds. The…
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Valuation Today
We have our valuation booked today on our new build. Just wondering on people’s experiences on timelines assuming everything is ok with the valuation?
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Money gift from Indian father to son with UK passport
Hi, Father in India wants to gift £ 50,000 to son in UK (who has British passport) for buying property. I am getting a letter from a Indian chartered accountant stating the source of the funds and tax paid in India. Is this gift taxable ? Any idea on how much money can be gifted in a financial year? Thanks
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Financial Association - Going to be a problem?
Long story short, me and my partner applied for a mortgage with a lender and it got declined (too much adverse in my history combined with what they considered to be a current DMP, so I know in this climate I'm unlikely to get on a mortgage). My partner decided to go it alone and got a DIP via a broker with Nationwide, as…
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Joint borrowers - sole proprietor, why is it so complicated??
Hi all. Application with Barclays (direct) for a joint borrower, sole proprietor mortgage with 40% Ltv. 14 Aug - full application sent 15ish Sept - further enquiries about income, all answered on the day ??? Still held at decision stage What could possibly be happening? Barclays advisor is useless. I know this kind of…
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Halifax Mortgage with previous payday loans
Halifax accepted our agreement in principle and have said we can borrow more than we need. To do this they do a soft credit check. However I have some payday loans on my credit report which are 5 to 5 and a half years old. All settled and paid on time. Do I still have a chance of getting a mortgage with Halifax with 20…
