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Mortgages & endowments

Archives for September 2021

Question on amount you can borrow for a mortgage
My wife and I are trustees on an investment for our nephew. He has asked us to release money for a deposit on a house - fine. However, for various reasons the details he has given us don't sound right. If you are married with 2 children and a total income of £25K does it sound right that a mortgage company would loan you…
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Bank Statements - Mortgages.
Just wondered what kind of things lenders look for on statements? I’ve been told by one broker it’s simply to check your salary matches your payslip and to see it going in on payday. Others say it’s scrutinised line by line for anything that could be a red flag. Gambling excessively would be an obvious one. I have a…
Help To Buy Mortgage and Equity?
We have a help to buy mortgage, can you use the equity to consolidate outstanding loans while still owing the government the 20%?
SEISS 5 & Mortgage Application
Hi, My partner (employed) and I (SE) have an AIP with Santander and our full application has been submitted to them last week via a broker. My work was affected by Covid between May & September but I haven't claimed the SEISS 5 grant yet. Now that the application has been made if I were to claim SEISS by the 30th deadline,…
How to raise funds to buy husband's portion of the family home
My sister is currently divorcing from her husband of 25 years. She works as an events designer and runs her business from her home address in Teddington, a job that requires both space to build props and proximity to her work venues, which are generally in London. Running the business from her home address has meant that…
Buying out my sibling
Would a second job increase amount I am able to borrow?
Hi all, I have taken up a second zero hours job and plan to earn extra money towards getting a place. The amount will fluctuate quite a bit between £100-£500, I'm wondering if this income could be taken into account to increase the amount I am able to borrow as a FTB, and how much of a multiplier it would be. Thanks again.
Equity release mortgage under age 55?
Hello, advice hugely appreciated! My husband and I bought a house in cash that has needed a lot more renovation money injected than anticipated and we are now in the position of needing to borrow. We are in our mid 30s. The house price was 155k, we are looking to release 50-70k. I thought equity release would be…
Halifax outgoings
Hi - we have our mortgage application interview soon and was told to prepare income and outgoings. Will they just want to know regular credit payments or also things like food shopping, utilities etc or do they just use national averages for this?
Clerical Medical/Scottish Widows Endowment Maturity
Hi everyone, I have an endowment with Clerical Medical. It matured on the 26th of this month and I gave them the bank details a month or so ago for the maturity payment etc. I have 2 mortgages that are coming due that I need to pay the money to so I called today to get a date for when the money would be transferred, I…
Switch bank account and potential future mortgage application
Hi, There is a chance I might need to apply for a mortgage at some point soon. It could be a few months or next year. I have an excellent credit position. A few mortgage advisors months ago told me that I shouldn’t have problems getting a mortgage from a variety of lenders based on my financial circumstances. I have a few…
Mortgage capacity for my ex
Hi guys Going through a divorce right now and I'm fairly certain the mortgage capacity report my ex provided was based on bogus information. Is it possible (or even legal) for me to approach a broker and ask him to provide a mortgage capacity report based on my ex's information?
Mortgages and Shared Ownership
I intend to buy a shared ownership home with a 5-year fixed rate mortgage as current interest rates are low. I earn £25k and have a large deposit, so can get a mortgage of £100k (i.e. 4 x salary of £25k). Next year, my salary will rise to £35k and I want to increase the mortgage to £140k (i.e. 4 x salary of £35k) and use…
Nationwide Mortgage Process - Advice Sought!
Hi all, I am quite far down the line with Nationwide's mortgage team. 16 September 2021 - Applied for DIP 16 September 2021 - Received DIP 23 September 2021 - 2.5hr Mortgage Call 23 September 2021 - Passed checks but referred due to LTV % only 24 September 2021 - All docs sent to Nationwide 27 September 2021 - Valuation…
Is it worth paying off the help to buy if you plan to possibly move?
Hi, just wondering as we have lived in our new build house for 5 years. We are at the point where we should start paying the help to buy back but a lot was going on recently and due to the fact me and my partner had talked about the face she would like to possibly move, we decided to defer paying the HTB for now, so are…
Top-floor flat vs. (top - 1)'th floor
We are considering buying a flat at a new tall (30+ floors) building. For the same exact floor plan, the developer is asking for 3% more for the top floor compared with the one below. I heard arguments both ways (top floor flats are quieter because there's no one above but also are the first to be affected by roof leaks).…
Chances of getting mortgage without life insurance?
I recently had a mortgage interview with Nationwide. While I was expecting questions relating to employment / earnings / outgoings etc, they seemed to pitch the interview heavily on questions relating to life insurance. They kept dwelling on how the mortgage would be paid if I were to develop a serious illness and was…
Remortgage and credit cards
I have a fair amount on credit cards and am starting to get worried about remortgaging around March next year. My cards are well managed and all are no or low interest and I have most set up to be gone by the end of interest free or low periods which means I am paying a fair bit but it’s affordable and I hate paying…
2 Mortgages into 1
We recently bought a house in Feb 2021 and to do so, we ported our mortgage from previous property and topped up with another mortgage, both with Nationwide. We have done extensive updating to our current property and our house is worth more than what we bought it for and we will have far more equity in the property. My…

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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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Mortgages & endowments

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