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Is an interest only mortgage an option?
I currently have a house worth around 900k and really want to move. So looking to borrow around 200k. I earn 60k a year, my partner 40k. We are currently mortgage free In around 15 years would sell and downsize. Is a interest only mortgage an option for us? The thinking is that we will downsize considerably and into a less…
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Remortgage
Just looking for some advice. We recently remortgaged and opted for the broker fee to be included in our mortgage. This is on all are documents and we were told that once everything was complete the broker fee would be transferred into our account and then we would need to pay them. So after completion we were told to wait…
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HSBC Decision Obtained meaning????
Hi everyone, I submitted my mortgage application yesterday and after the hard credit check the timeline status changed to decision obtained. I then received a email to upload the requested documents which I did. I just wondering how can a decision be obtained before the submission of documentation?
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Mortgage - 3 or 5 year fix?
Hello! I was hoping I could get some advice. We've first time buyers, who after multiple failed bidding wars have finally had an offer accepted. We have received quotes for mortgages from our broker - one for a 3 year fix, another for a 5 year fix. The 5 year fix actually has a slightly lower interest rate (1.98% as…
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Buy to let / let to buy without buying another property?
My house was valued at £230000, i owe £48000 on the mortgage (past the end of the term so i can switch move or pay off with no penalty) i was told i could switch it to a let to buy and get around £122000 out of the property as a deposit on another house but what id like to do i just take the equity out of the property and…
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Mortgage with new contract but old employer
Hi there, I have a fixed-term contract with my current employer that has only a few months left to expire, so banks don't like that when it comes giving a mortgage. I have the option of switching to a permanent contract but with a previous employer (worked there 2 years ago) to better my chances for a mortgage. Question:…
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Halifax problems
My niece is currently going through a divorce and wants to remain in the marital home. She has a mortgage balance of approx £37K, and needs to raise approx 35 to 40K extra to buy out her ex and keep the payments affordable. Leaving a mortgage of approx £75K in total. She would like to extend the current term from the…
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Am I too early to remortgage?
Hi, Am I too early to remortgage? My current 5 year fix with Principality ends 31Oct22 (ERC 1%). I don't want to wait too long and miss out on the current low interest rates but also don't want fork out for an ERC. I understand you can remortgage up to 6 months in advance, which means I'm a tad too early, is this the case…
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Buying a home with partner when i already have a mortgage
So me and my partner are looking at getting a home together however the financial logistics are baffling me a bit For context, im 26, own a home worth 110k with 79k remaining on the mortgage. My partner is moving in shortly and she also wants to get on the housing ladder. We are looking at getting a joint mortgage together…
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Endowment Matured - No Monies Received (Scottish Friendly)
Hi I'm looking for some advice please. My endowment policy was transferred from Canada Life to Scottish Friendly 3 years ago (nothing to do with me, a vote by shareholders apparently) and since then all communication regarding my policy has stopped. The endowment matured on 1st January 2022 but it still hasn't paid out. In…
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Mortgage adviser not get back to me
following a chat on Monday I sent my info over for AIP and he has not got back to me since then. I have emailed asking for update it's been 24 hrs AIPs don't take that long do they.
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Remortgage with no spare income
Just wondering if anyone has advice on whether it is possible to remortgage when your income has been taken up by the increase in bills. My fixed rate comes to an end in July and I am concerned they will look at the now £0 spare income and not want to lend! It is very worrying
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Buy to let lending criteria for different lenders
Hello, As the title suggests, im looking for guidance on which lenders have more favourable criteria for buy to let mortgages. Specifically the part that determines how much they'll borrow relative to the monthly income. (edit, I believe this is sometimes abbreviated to ICR?) Ill be looking for a new mortgage in June and…
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Barclays Mortgage - 90 days until 5 year fix ends - Won't offer advertised rates, only new customers
I am currently on 2.49% 5 year fix which ends on 31/05/22. Today, March 2nd is 90 days before this is due to expire. My LTV is 55% and they are currently offering 2yr, 3yr and 5yr fixes at 1.49%, 1.8% and 1.82% online. When I went online this morning to try and rate switch, their best offering for a 5 years fix was 2.49%.…
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How bad is moving to the standard mortgage rate?
My 2 year fixed rate term with Nationwide is coming to an end in September this year. I'm dating someone who also has a mortgage and his house is bigger and in a better location than mine so if we were going to be move in together it would make more sense for me to sell and live with him, but we're not quite there yet. If…
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Gifted deposits and private agreements
Hi, When a gifted deposit form is signed by both parties, but another private document is later drawn up (with no solicitor / conveyancer / mortgage lender involved) stating the money will be repaid - is this document legal? Many thanks.
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Advice as first time buyer
I posted this on the house buying board but was advised to repost it here. Me and my partner have 15k already for a deposit, this time next year we will have 18k without saving anything extra, just from bonuses from lifetime ISA and help to save scheme (been on UC while I was on mat leave). However obviously we will be…
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Mortgage as a gift
My Dad is looking to buy a house. He sold his one and only home just over a year ago and has since been living at my house. The sale was due to a separation, so he split the proceeds of the sale with his partner. He is currently around £60k short of the purchase price for a half decent house. He is a pensioner and has no…
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Lifetime mortgage
Hi I'm looking to raise some funds so I can enjoy the rest of my life whilst I still can. I'm going to be 67 next month. I don't have a mortgage and my property is worth in excess of £350,000. I don't have any dependents and my family don't need my money so no worries about having to leave it to anyone. I'm aware if I live…
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Amount owed on Mortgage increased overnight?
I logged into my banking app today to do my monthly overpayment and the amount I owe has been increased, looks like a backdated increase of over £100 over a year ago. Can bank just add on to what was owed a year ago and not say anything to me about it? P.s. trying get hold of the bank but the automated systems won't…
