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Mortgages & endowments

Archives for January 2021

High deposit mortgage
Hi! I own my house outright, we plan to sell it for probably 190,000, with a view to then getting a small mortgage and buying bigger. I’m a stay at home mum and we live off my husbands modest 24k wage. Will we able to get a decent mortgage with only that wage? If we commit to paying say, 180,000 deposit? I can’t find much…
Very nervous about dip
Hi I feel I have made a big mistake. I did 2 dips with same lender within 10 mins . They were soft searches. The first one I put additional income which are tax credits under my name which I am not working and it came out with less that we could borrow. However it is my partner who works and then on the next dip I put the…
Is now a good time to buy shared ownership?
We've come into a small amount of money recently which means we have enough for a shared ownership deposit. Pushing 40 and with a toddler I am keen to buy to get us on the ladder and be settled in an area for schools etc too. Husband will go along with this but thinks it would be better to wait, either for 95% mortgages to…
Family loan for offset mortgage?
Morning All, looking for some impartial views. I have an offset mortgage. It is a fee-free mortgage... so the minimal amount I require to make it the cheapest offer is y amount. I have this amount as a "security" blanket in case of redundancy sitting in the offset account. The interest on the mortgage/offset is ~2%. My mum…
Halifax DIP
Help I am stressing as I have an AIP from the Halifax. I told them about two defaults ( both 5 years ago ) and they undertook a soft search with Experian so hopefully are aware and no issues with those but just been on equifax and there’s a default for a water bill I knew nothing about due to go off my file in April and…
18 working days since valuation...
Our buyer still hasn't had their mortgage offer. They started the application mid November and then had to change their solicitor as they weren't on the bank panel. Their valuation was initially booked for just before Christmas but we had to cancel it as we had covid. We have chased the estate agent and their response is…
Re-mortgage for Extension - House Value.
Hi Guys, Wonder if someone can point me in the right direction. Looking to re-mortgage for some extension work I'd like to have done. The problem I'm having is to do with the house valuation. Obviously available funds has drastic effect on the work which can be carried out. Which isn't an issue if I can get as much as I'd…
Mortgage and ex partner help needed
Evening all, after some advice regarding my mortgage and situation I’m in. Joint mortgage to which ex partner has made no,payments in at least 15 years(she’s not lived here) there is currently£1k arrears outstanding which I’m progressively clearing as fast as I can. She has her own mortgage on another property but has…
Mortgage application & big payday loan history
Hi, I'm a first-time buyer in a bit of a tricky situation with regards to my credit history, and wondered if anyone could help? I'm buying with my partner in the next year - Both credit ratings good (I know it means nothing) - Combined salary of £80-85k (expecting payrise before then), in full-time permanent jobs…
Platform mortgage extension - HELP BROKERS
Hi All, my buyers mortgage due to expire 31st Jan. they applied on 27th Oct. we are due to exchange Friday and complete next week 5th. Do platform offer extensions? Would they need to reapply and go through process again??
2 Defaults - can I get a mortgage?
Hello, I'm hoping for some advice. Me and my partner are hoping to buy a house this year. We will both be FTB's. I have 2 defaults on my credit file. One from 4 years ago and another 3 1/2 years ago, but combined they are worth about £500. One is settled, the other is now paid but not been updated just yet. The defaults…
Mortgage nightmare.. solicitor isn't on the panel after all
I got the mortgage offer through last week and called the solicitor today to get an update.. they haven't received the mortgage offer. It's a solicitor's office with 5 different branches and only the main branch's address is on the panel and that's where they sent the offer - they can't deal with it in that branch because…
Mortgage and Credit Searches
Hello I am a first time buyer. Wondering if anyone could give me some idea about what my current position would be now for ability to get a mortgage. * I agreed to purchase a house and I got memorandum of sale. I then applied for a mortgage with Yorkshire Building Society the same day. I did not yet pay the application fee…
If all else is equal..
If all else is equal... ..Would you go for a 5 year fix versus a 10 year fix if the interest rate of the 10 year is 0.5% higher
Doing 2 DIPS in a short space of time
Hello, My mortgage broker has said because I applied for 2 DIPS from 2 different places within a day of each other that I must now wait 3 months before doing so again because it looks bad to lenders? Would anyone be able to confirm if that is true? Many thanks
Nationwide Process - Please help alleviate my worry!
Hello, I am new here and would appreciate any help :smiley: We are FTB's and are very new to the house buying process. We are awaiting news from Nationwide on our mortgage application and wondered if anyone had any recent experience with them to compare ours with? We are buying a new build and have been given 34 days to…
Ready to exchange and complete today but Accord has delayed releasing the funds. How long?
How long are their underwriters taking to review things these days? Edit 1600 : Sorted the same day! It was 6 working days back in November. We were going to exchange and complete today but as the property has been granted a new lease 2 days ago and now it has to be reviewed by the underwriter. I’m devastated because I’ve…
Remortgage - Optima Legal
Looking for advice to get them to pull their finger out really. Started the remortgage process back end of November to move to new lender. They instructed Optima. Welcome back and portal log in details received, info completed at earliest possibility (Early Dec) - so far so good. Whilst completing this info, informed them…
Borrowing more on mortgage house improvements
Morning everyone. Just a quick one, building a single story extension on my house, just wanting to know if the better option is to borrow the money on my mortgage or use around 80% of my savings which are in stocks and shares and have earned 20% in 6 months. House is worth around 115k. I have 35k equity and have 21 years…
Residential mortgage on second/background home
Hi all, great forum with interesting information - first poster. Wanted to run the below scenario before approaching mortgage broker so can understand my options. I currently own a mortgaged property where I reside with my wife, jointly owned. Our mortgage is £440k and property is currently worth £750k approx - property…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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