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Lots and lots of missed payments
My partner and I have just sold our property and due to missed payments he was going to try for a solo mortgage Having previously had a small mortgage for quite a long time i wasn't really aware about late credit payments and what it could mean. I've had 2 credit cards which I've always paid and never missed because the…
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Metrobank - credit card debt
Hi... looking for some advice. We have a mortgage broker that is looking into our mortgage for us. We are looking to borrow 247500 over 25 years, at 90% LTV. We have a good joint income of approximately 84k a year. We do however have a considerable amount of debt - which I know isn’t great. Built up through wedding plans…
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New mortgage vs existing
Hi all, I am a first-time home owner, who is nearing the end of my mortgage and I will have the ability to pay the rest of it off in full this year. In the coming few months I will be selling my home and buying another. The house I am looking to buy will cost more than the value of my current home which means I will need…
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Remortgage help
Hi all, I'm looking for some advice about our mortgage please. We are due to remortgage but want to borrow more money to extend and renovate. We are currently with Nationwide but they will only lend us up to 85% LTV which wouldn't be enough for what we want to do. They also say that they wont lend us money on what the…
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First Mortgage for my parent at age 61
Hey everyone, I am just looking for some guidance to buying a home for my mum at age 61. We are currently trying to plan for her retirement eventually and that she doesn't struggle to much financially. Part of this we were looking at housing, she is renting at the moment. I looked into whether I could get a BTL and rent it…
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Skipton mortgage
I have had a decision in principle that has passed with Skipton. I am a first time buyer and just worrying about the mortgage application as I don’t have the best credit rating. It is classed as fair.. once you’ve passed the DIP do things go through smoothly as it has done a soft search on my credit report? Any advice…
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Save to pay off H2B loan or over pay on my mortgage whilst it is still in the fixed term period?
I have recently taken out a mortgage with the Nationwide for a new build property, I took advantage of the H2B loan and am aware that I have 5 years to pay this back or add it to the mortgage. My question is should I be saving to pay off the H2B loan or would it make more sense to over pay on the mortgage? I can over pay…
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Lenders willing to offer a mortgage against an Agricultural Tied Property?
I am looking to purchase a property with an agricultural tie against it. Does anyone have any knowledge and or experience of lenders willing to provide a mortgage for a property with an agricultural tie?
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Soft search after hard search? Typical?
So, our application has been in with TSB since early Dec. Due to my partner's contract changing, in early January, we've had to wait on the NHS to provide an employee referral to the lender. There are no issues and everything meets what TSB wants. We had a hard search done when we got a DIP, back in early December,…
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Keep or sell HMO?
Hi all. I'm not sure of the best place to ask this but here goes. We own an HMO in a student city and it lets every year. We have an interest-only mortgage on it which runs until 2040. The accounts show our annual income from the HMO as around £20,000 after expenses however, the real 'take home' is less than this as the…
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Penalty for expired Consent to Lease
I might be paranoid but I have a question. Our HSBC Residential Mortgage 5 year fixed rate is coming to an end and we want to remortgage. We moved out of the property 3 years ago and let it with HSBC's Consent to Lease. But it was only valid for 12 months and after that we should have asked to have it extended (rarely…
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Older applicant, relocating
Hi, I bought my house before my marriage. It's worth £320k with 80k outstanding with Halifax. I have 2 queries. 1. My husband retires in 8 years, he earns 50k, a few late payments in the last 3 years. If his income was used I presume the new mortgage term would be no more than 8 years? Also I work at home as a childminder…
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Increase borrowing - guarantor?
Hi, I'm maybe looking to move this year. After fees etc , I'll have around 50-55k of equity towards a new place. I'm self employed with over 10 years proof of stable earnings. Doing a quick search on borrowing calculator here, I can borrow around 113k..so that's total of 168k property value. The properties in areas I like…
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B1 rating on flat
I recently applied for a mortgage and the lender wanted a ews1 form so we had the survey done and it come back B2. They now want to send a fire engineer out to see if they will mark it a B1. My question is, is would a B1 flat be worth buying or isit a huge risk with trying to resell in the future? Thanks
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Shared ownership - pay off debt or save for mortgage
I'm in a bit of a dilemma. I don't know what to do for the best. I have nearly maxed my credit card (have addressed the issues so no using it anymore), I have £3,500 left to pay off (unsure of interest rate, not sure whether to balance transfer) and have £1,200 in savings for a deposit. I have around £800 spare a month to…
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Ive noticed Nationwide have drastically dropped ERC's
on new products, a sign of things to come?
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Short employment history, good income, lot of equity
Thinking about a move & wondering how hard the mortgage market for us will be. Me - 40 - 6mths in current job, permanent, professional circa £50k plus likely bonus of £10k Spouse - 49 - previously limited company contractor, last contract ended in Dec 19, new contract due to start mar 20 - delayed indefinitely due to…
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In the event of negative interest rates...
Hi, In a few months time I will come out of the fixed rated on my mortgage and revert to SVR. Normally I would go shop around for another fix deal but I keep reading reports of the possibility of negative interest rate (albeit mainly media speculation) as part of the BoE attempt to stimulate the economy. My read on this is…
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Mortgage with 1 year + 10 months tax return
I have been self employed as a sole trader coming up to 4 years. Years 2 and 3 tax return average profits were around 12k and 16k, and it's looking like my year 4 will be around 19k profit (based on 10 months actual plus 2 months using an average of the 10). So I can borrow a bit more, how likely is it a mainstream lender…
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Additional Lending tie-ins
I have a mortgage with Accord which was a 5 year fixed rate deal and has just over 2 years to run. I am considering taking Additional Lending with them but their website says that there is a minimum term of 5 years for Additional Lending. How does this minimum term affect my main mortgage? Would I need to continue with my…
