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First time buyer - buying with intent to Holiday Let.
Apologies if this is incorrect format for this forum, however. I'm looking at getting a mortgage and wish to make use of the government's H2B scheme. I intend to let the property out for 20 weeks of the year as a holiday let. Is there anything stopping me, as a first time buyer, using the H2B scheme and doing this? TIA…
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Car Lease On Completion Day
Hi All, my current car lease is up on 29/01. Funnily enough i’m also due to complete on a new build house on that date too. I’ve been offered to get a new car earlier but have been holding off until i actually get the keys just so nothing goes wrong. my question is, once ive got the keys in hand on 29th am i ok to take out…
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Yorkshire Building Society
Has anyone applied with YBS recently? How long do they take to approve a mortgage? Application submitted and hard credit search on the 12th, email from an underwriter on the 13th asking for payslips and proof of deposit, nothing since. No idea if the valuation has been carried out.
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Standard Life Homeplan endowment - end-date in 3.5 years - what are our best options ?
We have a Standard Life Homeplan endowment, which we took out to pay an interest-only mortgage, and the current state of play is : * With Profits Value: £37K * Final Bonus: £7K * Current Surrender Value: £44K The plan's end-date is 3.5 years away. When we last got advice we were told it was still "okay" investment as the…
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Nationwide BMR Part & Part mortgage - which Part to pay early ?
I have a Nationwide Base Mortgage Rate (BMR) mortgage currently I'm paying 2.1% interest with about 4 years left to its redemption with a balance of £62K where * £52K is at interest only * £10K is at capital + interest I have £10K saving that I could use to pay some early, and with the BMR deal I believe there are zero…
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There has been a revival of negative base rate speculation across the media..
Is this a good thing? How will it impact mortgage rates? Is this a time where we will see 0.5-1% mortgage rates again? A time to fix long term? Or more impact on everyday spending rather than lending... https://www.thebanker.com/World/Western-Europe/UK/BoE-official-revives-negative-rate-speculation…
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Guarantor Mortgage
Me and my partner are hoping to extend the amount we can borrow with my parents as guarantors. We understand that there are 2 types of guarantor mortgages; 1) where the guarantor locks away a lump sum that becomes unlocked once a % of the mortgage is paid, and 2) where the guarantor puts their property down instead. In our…
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Nationwide Gifted deposit/ proof of funds
Daughter has had offer accepted, DiP given, ready to progress to full application. She has £10k in a Lisa, we are gifting £17k to make a 10% deposit, I know we have to fill in the Nationwide form, she will have it by Monday. Will Nationwide ask for any kind of proof of our funds at this point? I only ask because I am…
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Mortgage for over 60s based on assets rather than income
Hi there. Wondering if anyone can give me some advice... the interest only mortgage on my home is coming to the end of its term in just over 2 years. For various reasons, I'd like to keep the property mortgaged for at least a few more years, at which point I'll downsize and pay off the mortgage. I've already established…
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Transfer of Equity Help Required
I currently own a property with a value of around 1 million in the Uk with an equity release loan of 60K outstanding. I am trying to do a few things and looking for some help about whether there is any way to do this. My son and his family already live in the property and would like to take some ownership of it, and in…
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Buying new house while keeping current
Hi, Our current house is worth approx £220k and we owe 80k on mortgage we are looking to purchase a property which is 350k. We had planned to sell current property but are weighing up options. my wife and I have no debts and income of 88k together. We have been trying to work out if we could keep current property and maybe…
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Paying off mortgage process
A little while ago I posted about porting, then moving and making the last up with our own funds. We’ve now spoken to the bank and we have decided to opt to pay the mortgage off and clear to £0. I would like to ask what is the whole process of paying off mortgage. What happened once I’ve sent the remaining £124K to TSB.…
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Remortgage for House Extension Advise Please?
Hi, I’m looking start start a house exension in the next couple of months and need to borrow £60k to fund it. My current status as follows: Current mortgage £150k, current mortgage is 2.09% and has charges of £6k at the moment to leave early and term ends Nov 21. House value is circa £380k so there should be no issue…
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First time buyer in London ~ Advice, Mortgage HTB Shared Ownership?
Hi all I would appreciate peoples advice. I had posted in another section of the forum but someone suggested I try here too. I live in London (Hackney) currently renting , and am a single 36yr old looking to potentially buy my first property after April. I have one last default on my credit report that clears following…
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Overseas gift deposit BTL
Hi, just posting my question here and hoping some one can share their experience. It is Santander BTL application with LTV 70%. Single applicant. I am a full time employee. After nearly two months waiting (application submitted on 30/11/20) , Santander head office got back with requesting further documents regarding non-EU…
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Need a bit of a Clue about Equity Release
My parents recently passed away, and I've found out that my father got into some sort of equity release scheme.It appears the Equity Release Company own 100% of the house, after loaning out around 56k bout 10 years ago.And having read all the dodgy paperwork, it seems ? that the agreement was ,when the home is sold…
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Sub Account Overpayment Question
Hoping you can help me with a quick question that is probably super easy for you guys! Have a repayment mortgage with Co-op can overpay by 10% per year I have 2 subaccounts from previous houses etc for the same house 1Fixed Until Feb 2023 2.14% Balance is £16k 2 Fixed Until May 2024 2.24% Balance is £82k So should I (a)…
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Mortgage to buy out siblings from inherited property.
Hi Everyone, Sorry to start a new thread but I've been searching and googling but can't find anything that covers this particular scenario. My mum passed away and left her mortgage free property split equally three ways to each sibling A,B,C. Apart from 11.4% of the property that two of the siblings (A&B) paid for when the…
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Short Term Emloyment Contract Mortgage Options
Hi me and my partner have just run into a problem with our mortgage application and im hoping someone here might be able to help/advise. They're on a Short term PAYE contract, as they work in tv/media. They've been working for this company for a year and a half and have had their contracts renewed/extended 3 times, along…
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Poor credit mortgage help
Hello all, I have a question for the experts, I have poor credit, defaults registered in 2017, but all has been cleared as of April last year. I am now in a position where I want to be my first house and have roughly £35,000 saved and I am looking at. 10% deposit.i have spoken to a poor credit broker and he said as my…
