Mortgages & endowments

Archives for March 2022

Offset Mortgage Question
Genuine question as I am really not clear. I currently have an offset mortgage via FD. My question is around what happens when the balance of offset reaches net zero I.e. when my savings balance matches the balance of the mortgage outstanding. I have been making a real concerted effort to boost my offset savings and wanted…
Repayment of all debts on completion
Hi all I need some reassurance as I have searched the Internet and feel like we may be refused the mortgage we require. Long story short, we have a combined income of £65k, £35k worth of debt, perfect credit scores with no defaults ever and £100k equity in the house. Our little one goes to nursery full time. Broker 1…
Remortgaging: Put the wrong date on solicitor's questionnaire and have to pay early repayment fee
We are in the process of remortgaging our house. Application was accepted in December 2021, and the solicitor was provided by the new lender. The solicitor sent out a questionnaire asking for personal details like name, phone number, etc. and the details of our existing mortgage, including lender, account number, whether…
Barclays Mortgage Extension after Exchange - Is it possible?
Hello, can somebody please help on this questions. We have a BTL mortgage application with Barclays which is due to expire on 12th May. We're currently in the mid of our chain obtaining searches/processing enquiries etc so I'm concerned we may not complete by the time this expires. Does anybody know if Barclays will extend…
Pepper money mortgage, worried something could go wrong.
Posted this on an old pepper thread but didn't get replies. Here is my time line of events : 25.3.22 broker submits application and same day hard search on credit file and pepper money ask for a couple of documents which were promptly provided. 30.3.22 pepper are not happy with one of the documents and they ask for it to…
Retrospective Professional Consultants Certificate
Anyone know of the best lenders to try if we have a retrospective PCC? It’s a renovation. we’ve got an application in with our current lender but we are not sure whether they will accept it. Thanks
Does opening a new bank account affect your mortgage application
Looking at opening a Chase account to get 1.5% savings however I am planning to apply for mortgage this year. My credit record is spotless but presumably appyling for account will put a hard search on my record. Could this affect mortgage application or am I overthinking it? Thanks
Will a balance transfer CC ruin my mortgage chances?
Hi everyone I’m looking to move house in the next 3-6 months and will need a new mortgage. However I have £10K of credit card debt that I usually recycle through 0% balance transfers. I have more than enough cash in savings to clear it but I prefer to earn a bit of interest on the cash and let inflation eat into the debt.…
Mortgage overpayments question
Can someone please explain to me below overpayments charges..
Lender asking for statments day before releasing funds
Hi quick question lender is asking our solicitor statments for isa and our accounts where deposit was , we sent this long time ago to our solicitor , and she's asking us to send again, we are very stressed as we due to complete on Monday. Should we be worried at this stage?
Joint Borrowers, Sole Proprietor Mortgages
Hello all! Hoping someone can offer help/advise or if anyone has been in the same situation that I’m currently in. I’m in a position where myself and my partner are looking to buy a house. I am a first time buyer, where he currently owns the apartment that we live in. Ideally, he would like to keep this property to rent…
Paying ex partner out of the mortgage
Hi All Just looking for advice as I don't know where I stand. My child's father and I seperated over 5 years ago, he left his name on the mortgage which was great as it meant could stay in the house he has not contributed to the mortgage or home improvements since which I did not want or expect. I am now more financially…
The Great SVR Scam on UK Mortgages
Have you noticed that ALL mortgage lenders are pricing SVR at 3 - 5% above the BOE rate? They used to price it at 0.5-2% above BOE until they all unilaterally decided 5 years ago to suddenly jack up the SVR and catch people out who are unable to remortgage. This great Scam should be highlighted and the cartel broken up so…
Self Employed with Permanent Contract
Hi all, just wanted to get some advice/clarification on my situation... I work for an overseas company and have had a contract with them for full-time work since 2019. However, since they don't have a UK entity, I invoice them each month for a fixed amount. I'm at the early stages of speaking to a mortgage broker and it…
Old endowment policy
My parents have both recently passed away, while looking through their paperwork I have discovered that in 2002 they took out a 10 year endowment mortgage with Abbey national, they then remortgaged with another bank in 2011. Both of these mortgages were interest only, on the paperwork I have found for the remortgage it…
Building Credit Score for Mortgage
My situation: £30,000 in a LISA for deposit (family can match another £30k if needed, no problems here) Long term unemployed (2 years since graduation)No credit cards, everNo loans, everNo mobile phone plans, everNo utility bills, ever "999" credit rating on Experian (aka: no credit rating, unknown) I want to buy my first…
Mortgage Payment Date Change
Hi all. I have a new job and my pay day is the last day of the month. Our Halifax mortgage payment date is currently 28th of the month but we don't have enough money in the bank to cover it until I get paid. I have spoken to Halifax but as we need to make a payment every calendar month the only way I can change it is if I…
Equity Release Penalty
A family member died in September last year and they had an equity release mortgage, however nobody realised this until this last couple of weeks. Looking at the paperwork it says there was a limit of 9 months to sell the house. Given 7 months has already passed I'm concerned this will not be sold before the 9 month mark.…
Early Repayment Charges
We're in Year 2 of a 7 year fixed term deal and are about to sell and downsize. There won't be any mortgage required on the new property. Barclays are going to penalise us and charge the full ERC (circa £7k) - we have challenged but they are not prepared to negotiate, despite having been a Barclays customer for 40 years.…
Help! First Time Buyer over Here
Hi all, I'm looking for some advice/guidance. Apologies in advance for the long post.Me and my partner are looking to buy our first property! However, my partner has two defaults in his name, both of which reach 3 years old this year. Up until this point, we've always been told we need a high deposit, which is why we have…

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