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Joint Mortgage, one with default
My partner and I were in a position to start looking for a home. We have a decent deposit and a combined income of 55k a year, with no debt. This summer I defaulted on an Argos store card. Stupidly I forgot to change address, bought something on a buy now pay later plan and didn't know my direct debit had been cancelled…
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Unsure of next steps - Mortgage
So I've been saving for over 3 years - basing my calculations on 10% deposits - so saved £400 a month around continuing to pay my way and incurring no debt. I've also occasionally used my credit card to keep an active history. Recently been let go, so taking hours where I can with an agency, however this is inconsistent so…
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Mortgage with friend
First time posting here, and first time buyer, any advice muchh appreciated. So me and a friend are wondering if it makes financial sense to buy together (2 bedroom in London). My friend is having doubts because he thinks it makes more financial sense if he takes out the full mortgage, rents the other room out, thus paying…
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Down Valuation Scotland
Had an offer accepted after missing out on a few properties. Offer was 5k over the value which we were happy paying, we are now worried the bank may down value it after reading a few articles online. Are down valuations more common in England ?
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When is it worth appealing a mortgage decision?
Hey Guys, Will try and keep this brief. Long story short; going through a broker, got an AIP for a joint mortgage despite me having pretty bad credit history (3 defaults from 4 years ago, two unsatisfied) but it got declined at full application as I'm in a DMP for the defaults (I was totally stupid and didn't realise I was…
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Halifax - how long for surveyor to report back to Bank?
Hi all, the Valuation for our mortgage was carried out this morning. Is the valuation sent back to Halifax the same day or does it take a couple of days? Also, will we get to see it? We didn't upgrade to a full survey as we had already carried out our own.
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Moving In Together
Hi, With all that going on in the world we have decided to sell up and move in with our parents. We are looking to demolish and rebuild a new home big enough for all us but will need some additional borrowing to complete this. I there a way to obtain a mortgage for the additional funds with our names on the deeds along…
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First time mortgage, home mover or Remortgage?
Good afternoon, I’m currently in the position where I own a house with my brother on a mortgage but in the process of selling my share to him and purchasing my own house to live in, while I’ve asked for the solicitors to sell my share of our house so I don’t have to temporarily pay 2nd home duty, what type of mortgage am I…
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Limited Company director - which figure to use as income?
Hi All I am a limited company director and own 100% share of the company. I am just wondering which figure to use as income? Is the answer depends on different lenders? My company account period is from 1st November to 31 Oct next year, and its balance sheet shows my salary and dividend in that period. My question is…
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Can we talk the lender round? [cladding]
Hi all, We're currently in the process of selling our flat - its a 2 bed shared ownership flat in a block below 18 meters, with no cladding or balconies. Our buyers have had a mortgage offer granted, however, now we're at the stage where we're ready to exchange and complete we have just found out that our buyer's solicitor…
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Kensington Mortgages
Hi. I have a question for anyone with experience of Kensington mortgages. Apart from the fact they appear slightly slow (expected given the current situation and the fact they work manually rather than computer tick boxes) I was wondering about the process? My broker sent in my application which triggered a soft and hard…
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First home fund
I am hoping to get a mortgage next year when the first home fund reopens. I will be taking 25k from the fund as well as aiming to have a 25k deposit. I will be looking to buy around the 150k mark, so my deposit works out at around 16%, but the LTV will be 67% due to the first home fund, will I be getting better interest…
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FTB - Can I apply for a mortgage with more than 1 lender at the same time?
Hi All, My wife and I are FTB's with an offer accepted on a property back on 23rd September. Our LTV is 67% and we both have excellent credit scores. We applied for a 10 year fixed mortgage with Nationwide on 25th September but are getting a little tired of their back and forth requests for documentation and then having to…
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Recommend broker for self-employed with adverse issues?
The adverse issues are: * £37K personal loans; * £22K BBL limited company loan; * 3-month mortgage holiday taken during Covid; * Income reduced during and after Covid. BUT! Impeccable credit files and £320K of equity when the sale of our house completes. Many thanks.
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Nationwide Additional Borrowing: should we preempt and send additional information?
We applied online on 16/10 for £25k of additional borrowing which will take us to 27% LTV and ~ 2 x total income over 26 years. We originally borrowed £45k in 2016 and have built up ~ £10k in overpayments and overpaid in most months this year. We are both self employed and have both received the SEISS grants. The…
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Mortgage in principle denied - why?
We are selling our house, and we have a Nationwide mortgage with £310K left. Our house is selling for £630K (so we'll have some cash once it sells). We tried to get an agreement in principle with Nationwide for buying our next house, but it was denied, please help me understand why! Bad stuff: * We have 3 loans amounting…
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Stamp Duty refund after March 2021
I currently own a house which is in the market but have not received any offers yet. The mortgage on this property is almost finished. The next home which I am thinking to purchase is valued at £285K approximately. I don't want to miss this house and therefore I am thiking to purchase this house as a second property while…
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Renting out my property
My circumstances are that I own a 1 bed property that I live in with my partner. We are expecting a baby next year. I’m out of work due to coronavirus and I don’t get any furlough or universal credit. We are planning to move abroad to stay with family and rent out my property. If my vendor allows this I will be able to let…
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I need a bit of advice regarding FTB and Leasehold/Freehold
Hello everyone, We have a dilemma. We are currently purchasing a property that is shared ownership. We are so far along (we should be moving in this week) however we have hit a snag. Whilst we were going through the contract with the solicitor she has pointed something out to us that she didn't think we correct. There is 2…
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Halifax with late payments any experience?
Hi all, Husband and I have applied for a HTB mortgage with Halifax, we earn £90k between us and the mortgage is for £371k so affordability isn’t an issue. Husbands credit score is excellent with no adverse history. Mine has a few late payments on and an older default that’s 2.5 years old for £37. AIP was approved so broker…
