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Barclays 'overpayments balance' mortgage
My wife and I are 4 years into a 35 year mortgage, which started at £240,999 at 2.99%. We've been overpaying for awhile now, both lump sum of 10% and monthly overpayment. I've just got our latest revised payment notice, as we've increased our overpayment again and I wanted to check my understanding of something. The…
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We’re Moving house, pregnant, born before we move.
Hello Me and my pregnant partner are moving house, we’re not worried about affording the payments of our mortgage but I do have one question. my partner is pregnant when we applied for the mortgage, we’ve had our mortgage offer but we haven’t moved yet. It’s looking like the baby will be here before we actually move. Will…
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Save for new house or repay existing mortgage
Hi, Sorry moderators for reposting the same thread again as i accidentally posted in the wrong forum and unable to edit or move it to this forum. Hi all, I started my mortgage with Nationwide in 2018 and the initial borrowed amount was 157,500 on my 3-bed property at 90% LTV 2-year fixed term. At "end of term, i switched…
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BTL Interest Free Mortgage ending, advice please?
My husband owns a BTL flat with an interest free mortgage. There is an endowment in place but there is likely to be a shortfall. Not sure who we approach about this? It won't be a huge amount but we would need a loan or Mortgage to pay it off. Or does it make sense to get another interest free mortgage which would run into…
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Standard Construction Mortgage Question
Hello,Apologies if this has been asked previously. I would like to know if a property built on standard foundations and built with either breeze blocks as the outer walls and a standard construction roof (single story property) or single outer wall of normal bricks then a cavity then breeze blocks, with a standard…
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Parent selling house below market value and living onsite in 'granny annexe'
• My Mother-in-law has offered for my wife and I to buy her three-bed house off her (valued at £500,000) • We cannot afford anywhere near market value (we can afford £150,000) • She still owes £70,000 on property - this would leave ~£80,000 for building her a granny annexe In theory it would be a mutually beneficial…
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Mortgage question
Hi, We are using the help to buy to purchase a new build house, reserved back in June. Had lots of delays due to various bits and pieces but currently our advisor is telling us there are only 2 or 3 banks who will lend to us due to furlough (im a keyworker as im a teacher but husband is a restaurant manager and therefore…
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When to approach a broker? at which point?
I have 3 defaults (1 dropping off in 2 weeks and 2 in May 21). At what point do i approach a broker to look for a better deal for me is it a long process etc? I want to try and get a high street lender i currently owe £118500 and the house is worth £145000. thank you
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Equity Release
Not sure if this is even possible as a private individual. We have friends who want to release some equity or at least to get an income from the property which they have on an interest only mortgage. I had thought of giving them an amount every month so that effectively I will be 'buying' a very small % of the property or…
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Put on furlough after receiving mortgage offer, but before exchange/completion
Does anyone have experience of this? We got out mortgage offer on 22nd December 2020 when both of us were on normal working hours and wages. My other half had been on furlough earlier in the year and was coming towards the end of it at the time of our mortgage application - the lender wanted a letter from his work to…
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Kensington Mortgage App
Hi everyone, After reading the forums for a few months, we have finally taken the plunge and decided to get an agreement in principle. This came back fine, we have now had an offer accepted on property and working to put the full application in shortly. Can anyone provide any recent experiences? I only have 1 default which…
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STAMP DUTY with existing properties
I would love some HELP please on stamp duty. The websites refer to both additional properties but also mention MAIN RESIDENCE. My situation is I am buying a property with my partner where we will all live as a family. Currently he has a property which we live in which needs to be sold, I have a flat which I let which also…
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How to improve credit rating
Hello everyone please be kind I’m new 😊 me and my husband have previously had a lot of debt, we have managed to clear most of it with the help of step change and now only owe £4.500 which we are ploughing every penny into getting rid off it . The company’s who we owe money to get putting late payments on our credit file…
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Am I being too impatient with broker....
Hey, Long story short we have applied for 2 mortgages at 90% and after 11 weeks the latest one was rejected. Very frustrating. We have re done our finances and decided that an 85% is do-able. I informed our mortgage broker 5 days ago of this and still have not had any further information back. The one thing that he replied…
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Renting out a Mortgage flat
I recently bought a flat. I have also recently received a work assignment that requires me to stay in another town due to its proximity. I was wondering if I decide to rent out the flat will I need to disclose this to the lender? I bought it to live in a flat and not as an investor. Will the change in the interest be…
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Mortgage and bad credit
Hi, i have found a shared ownership property that i want to buy part of, have the affordability but i have had previous bad credit. I had a ccj that due to come off this year which was for a previous catalog bill and also two defaults for telecomes there were three years ago, all paid off and satisfied. i am having…
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End of mortgage term not allowed to extend due to cladding and no EWS1
Hi, hoping someone can offer some advice. I have a flat where the mortgage term is due to end this year and the lender (Lloyd's) will not extend it because there is no EWS1 form yet available. The process has begun to obtain an EWS1 form but it will not be available until next year following remedial action, this is beyond…
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Go to Variable rate for a while, after Fixed ends (then return to Fixed)
I am on 20 year mortgage with 2 year fixed rate which ends in May. We are currently starting loft conversion, which, when finished, would add a value to our house. However I don't think it will be done before our current fixed rate ends. So I though we could just let our mortgage roll to variable rate for a while (couple…
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Solicitor not satisfied with proof of deposit
Hi all We received our mortgage offer from Halifax last week. Fortunately, it was through before the lender tightened their Income multiples. However, our solicitor is not satisfied with a part of our deposit. This part of deposit came from my wife’s parents 5 months ago. It will be 6 months by the end of this month. I am…
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Saving for a Deposit - Accept Settlement offer for Unenforceable Defaulted loan? Pay it all off?
Hi, I have received a letter from Link Financial today advising that they would accept a £2,032 payment towards a £2,903 balance. A 30% discount. This has a default date of February 2016. I argued it, as all of our other defaults – that went on to a DMP – had default dates of late 2014/early 2015. Anyway, they have said…
