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Mortgage refused because of issues with house, need to correct them
Hi. We are buying a house from a family member and Nationwide have come back with some issue that prevent them offering a mortgage on it. They sent us an email: Property is in very poor condition and appears to have serious damp issues and visible cracking. In order to be considered a damp timber report is required and all…
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Leeds BS declined due to additional income
Has anyone else in the same situation? I applied for a mortgage with Leeds building society at the beginning of August. They have rejected my application and appeal saying they will not accept my additional income of tax credits and DLA for a dependent - has anyone else had this happen to them or had there application…
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Can I ask bank to increase amount on mortgage?
Hi I remortgage my house last year to pay for an extension. I borrowed £100k with atom bank and the process was easy enough. My build is going to cost more - materials increased in price, few complications in the build and we decided to extend the scope of works and do ‘more’ than we were planning - we were going to do a…
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Interest calc confirmation
Ho guys I wanted to ask, I have the following calculation from my bank Start date 2.10.20 End date 10.9.21 Rate 2.16 Loan 134, 995 Whqt should the interest only be and how many days do you get I've already done it and I have 2 answers my own and the banks . Uts 1 day out but I'm pretty sure they calculated it wrong Thanks
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Mortgage - Bank Issuing Letters to Wrong Address
Hi All, Today I received a phone call from my bank to advise that due to a long-term glitch, my mortgage letters etc have been issued to an incorrect address 100 miles away from me. The bank spotted this issue during a routine audit on their side and thinks that it has been going on since I took out the mortgage in 2019. I…
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Increasing agreement in principle amount?
Hi, we have an agreement in principle with nationwide for £250k, however wish to have a higher amount. Would it go against us to request a higher aip, say for 280k ?
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Delay exchange until mortgage funds received?
Hello, our chain of 3 houses has agreed completion on 29th September and our buyer has transferred the remainder of their deposit to their solicitor today. We are now all waiting to exchange. Our solicitor has requested release of our mortgage funds today to hit their account on 28th to make sure they are there in time.…
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Cost of withdrawing mortgage early
Hi all, We have a mortgage offer in place, everything is ready for exchange/completion, I'm just looking at my notice period. It is very likely we won't be able to leave until the next rental period ends, let's say 4 November (that is a full rental period's notice from now or 4 October). We don't want to waste time and…
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Best way to set up ltd company with mortgage in mind
Morning Wondering if anyone can offer advice of the best way to move forward with our situation bearing in mind we want to buy a house ASAP and require a mortgage of 85-90%. Partner and I set up Ltd company 2 years ago with me as sole director due to contract terms of his ex employer. Partner is the one with industry…
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Kent reliance
I’m just wondering if anyone has used Kent reliance and had any issues re being in their overdraft? Or bet transactions? All our documents have now been passed to the underwriter at KR but our MB phoned yesterday and said everything looks affordable but the only thing they might pull is that there is a regular betting…
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Partner refuses to use broker
Hi everyone, Just wanted an opinion on an ongoing argument me and my partner are having. We are first time buyers with a 10% deposit saved. I'm employed and he's self employed but receives is pay through CIS for two years and wants to go on this amount to get a mortgage (think you have to show 13 weeks of payslips) He…
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Selling and moving lead time
Hi, I currently own a property that has a fully paid off mortgage as of last month. Would there be any issue in: * listing the current property for sale * once a suitable buyer has been found and contracts exchanged, but not completed, place a bid on another property and apply for a bigger mortgage based on the first sale…
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Lump sum payment
Hi , just need some advice please . We have a mortgage that we could potentially pay half off . We have 10 years left on it . We are out of any deal and our current rate of interest is 2.1 % . We dont know whether to pay off a lump some or pay extra each month . We have no other debt to pay off .
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Almost immediate full mortgage redemption
Hello everybody looking for some advice, My situation!over the last several monthes my partner(we are not married) has been in the process of buying/selling a property and at the last minute her buyers pulled out leaving us devasted and having to put her property back on the market.We had to relocate to get our boy into…
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Timing the overpayments
I have a mortgage from Halifax. (Repayment). The monthly payment is paid on the 20th of the month. The interest is added to the account on the 30th/31st of the month. I am planning to make monthly overpayments in order to decrease the charged interest and eventually shorten the whole mortgage term. Does anyone know how the…
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BTL Mortgage, need help with sums
Please could someone help me understand if this is right. Current mortgage remaining on property is £68000. House is valued at £200000. So potentially £132000 equity in the property. If I convert mortgage to an 80% Buy To Let mortgage, how much of that £132k would I need to put down as deposit? Then £132k - deposit = money…
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Mortgage Libor to Kensington
I took out an interest only equity loan roughly 15+ years ago, from my house which was paid for then. I found out about 9 mths ago Kensington had taken over and almost doubled my agreed payments. And it's now a mortgage, I've complained to the courts with getting no sense from Kensington to ask if I do not have to pay…
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Help to buy ISA deposit
Me and my girlfriend are in the process of buying a new build and are ready to pay the deposit. We have been told to keep her help to buy ISA open up until completion before they apply for the government bonus and use the money from my standard ISA account to pay the full deposit. My question is what would the bonus then…
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Further advance to pay off loan for home improvements
Hi, Firstly, apologies if this has come up before - I didn't find anything searching. TLDR: we took out a loan/credit to do the house up, intended to take out a further advance to cover it once our mortgage reached six months, now realising that we may have made our affordability look bad, even though we'll be paying off…
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Remortgaging after divorce
Hello, I'm looking for some advice on remortgaging. I divorced 3 years ago, 1 year into a 5 year fix with NatWest at 2.69%. I'm now at the end of the 4th year, and have a 1% ERC. My LTV is less than 50%. My ex agreed to stay on the mortgage until I could afford it by myself, and I have been overpaying to bring tbe balance…
