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Mortgage & Previous IVA
Hi, I was hoping that someone may have recent experience or any mortgage advisors/brokers could provide me with some insight please. I had an IVA that was registered in October 2012 & my completion certificate was issued in December 2018 after being fully paid (over & above the original as my income rose). All my defaults…
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When is a mortgage holiday not a mortgage holiday
This may be a naive question but I would welcome comments good or bad When the first lockdown struck we took 3 months payment holiday with the halifax. After lockdown I agreed with them to pay £1000 a month rather than the normal £1300 for 3 further months. Then the 2nd lockdown started and I get a letter to say I have had…
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Lending advice please
Hi, I wonder if I can ask for some guidance please. I am trying to raise funding quickly to pay a Trustee in Bankruptcy £22k to release my husband from BR and remain in our family home. I just wondered with finance applications, will lenders accept the reason I am asking for the funding, ie. will the application likely be…
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Freehold lease clause
So I put down an offer on a freehold apartment in August, despite it being a freehold it still have a lease, the lease has been extended to 125 years because apparently it can't be on a longer lease than the other 4 apartments. I looked back over my mortgage offer and it had a special clause of the property needing a…
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Should I pay my shop mortgage off?
Should I pay my shop mortgage off? I have about 7 years left.
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lending for remortgage less than original loan, sign of the times?
Hi, sorry if I'm a little short of exact detail here but I thought I would share my daughter's recent experience and see if the folks here could make any sense of it.Basically she got her first mortgage through the Nationwide about 3 years ago, soley on her salary. House was valued at approx £120K, mortgage was for about…
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daft question
I have paid off my mortgage a couple of years ago, but want to take out another to pay for a small extension to my home. Do I class it as re-mortgaging on the application? It seems the closest fit as I'm not moving house or a first time buyer, though it does seem to expect that you have an existing mortgage with another…
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Barclays Mortgage Overpayment 'Missing' Due to 'Known App Problem'
Hi have now been on the phone to Barclays for over an hour trying to find a missing mortgage overpayment. The app shows it left the mortgage current account to the right mortgage account but it never made it to the mortgage a week later. The adviser said this was a known issue with the app and they have a team working on…
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Mortgage status: Employed plus significant control in other company
Dear, I would like to buy home together with my wife. We would be buying home to live in it, and it would be our first home. Here comes potentially hard part to explain, so I will write in bullet points to make it easier to follow: - I am the owner / director of two companies. This definitely makes me count as company…
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Buying house with gift from mother and having her live in it until she dies
Sorry the title is blunt, but my mother lives remotely 300 miles away. She is not yet past her best but wants to move nearer to us whilst she is still young enough to settle into the area and build up a new social network. She has sold her house for £235k which was a bit less than she was hoping for. A comparable property…
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Re mortgage when on DMP
Hi, I have a DMP with stepchange owing around £7k (possibly) £4k depending on CCA information (looking like £4k). I have had 5 defaults, 3 have dropped off and 2 drop off in May 21. I currently owe £118000 on my house interest only which is worth £135000. I want to re mortgage what are the chances and what will the rate…
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Separating-joint mortgage
Hello everyone 👋 My first post please be kind (occasional lurker before). As the thread title suggests-I own a property jointly with my partner (not married). Around two weeks ago came to know he has cheated on with me with escorts throughout out our 5 years together. We have two young children. I am due to speak to my…
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Would a mortgage company allow someone to purchase a share in a house to settle the mortgage
The obvious answer is - ask your mortgage company, but I'm thinking of the future and I don't have the mortgage yet. If I have a mortgage on my house, and at some point a relative wants to move in with me and purchase a share in the house, paying off the mortgage at the same time, would a mortgage company tend to allow…
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If I own my home outright, can I take a mortgage loan out on it for another purpose
Hi Google is not helping me with this obvious question, maybe it's too obvious, sorry. Let's say I own outright my house and live in it. If I don't have a mortgage, can I secure a mortgage loan on the house for the purpose of say paying a tax bill? Would it be only specialist providers that do this, or would it be the open…
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Buyer furloughed and due to complete in weeks!
Hi. We are due to complete and move in a few weeks. We have just had a call at ten to 5 saying that our buyer has had a call from the bank about his wife being furloughed for this lockdown. The application was accepted previously. The buyer shared that he hasn’t spoken to the bank and that he may need to tweak the…
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Remortgaging furlough
Hi everyone, (sorry for the long winded post!) were due to come to the end of our 2 year fixed term of our mortgage early next year so need to obviously sort remortgaging at some point. We are with Santander at the moment; we didn't have a lot of option at the time as my partner is self employed, and at the time only had 2…
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Mortgage ERC
Why aren't banks being more lenient with Early repayment charges when you have to sell your house because you lost your job and can't afford the mortgage? I have been on the phone to Natwest most of the day to tell them I'm struggling etc but they won't budge on the £5500 charge 😔
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Securing a mortgage with a CCJ
Hi all, I hope everyone is doing well. I was just looking for some advice regarding my current situation. When I was a student at university I got into some financial difficulty and took out several payday loans. These were not all in one go, but I fell into a vicious circle of taking out another to pay off the prior.…
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BTL Mortgages for retired over 60s
Anyone know if BTL mortgages are likely to be available for a retired couple aged 65 & 67 where their joint income will be rent (30K pa) from existing mortgage free rental properties and pensions (20K pa). Would be looking at properties around £150K so would need a mortgage around 50K.
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remortgage and lease extension
Hello All I presently live in a share ownership flat. I owed 50% share. I am in the process of staircasing to 100%. I have approached my bank and I was informed that I can remortgage. I also want to extend the lease on the flat as the current lease is less than 80years. I just find out that I need about £6,500 to pay for…
