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Daughter raising mortgage to buy out husband's share of property
Hi, This is a theoretical question as we are looking at all options. My daughter would be a first time buyer. Our current property is worth approx. £250k. We are mortgage free. Both myself and husband are on deeds and are separating. If possible I would like to stay in the property and my daughter has suggested buying her…
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Help to buy spread sheet help?
Hi recently submitted a help to buy application,for the first time buyer equity loan. I'm just waiting for them to process the application,but nerves are killing me 😂. having entered all the information as we did on the application,below are the results. Am I right that this would be authorised for HTB?, as the debt to…
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Best way to go about gifting a house deposit?
Hi, My brother is a first time buyer and I'm helping out with £20,000 for the deposit. We're unsure of the best way to do this (To make things easier getting the mortgage/the lenders will like etc). Should I transfer the money to his bank account beforehand, so the lender can see the funds in his account? Or, when it comes…
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Switching credit card debt before mortgage application
So we're looking to apply for a mortgage in 9 - 12 months time. We have a credit card debt that is now acquiring hefty interest. We would like to shift this debt to a 0% interest credit card however I'm concerned how this will affect our chances of getting a mortgage with a recent credit application. Do we stick it out on…
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Mortgage application- Credit Issues
Dear all, I just wanted to get some advice on the best way to approach a mortgage with a few issues. I have had some previous issues, 1 default of £170 in Jan 2020 and a few missed payments all over two years old. I also have been using payday loans, unknowing of their impact on my credit file. However these do not appear…
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Applied for 2 Mortgages
Not sure if this was the right thing to do, however my current bank having agreed a mortgage subject to valuation on March 7th, took 2 weeks to instruct survey, appointment booked for 1-4-22, this was then cancelled due to surveyor, rebooked in for 22nd April, expect to be exchanging there or thereabouts. In essence they…
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What LTV to apply for when expecting a downvalue
I've received conflicting advice from two different brokers and I wonder if anyone here can shed some light. We have had our offer accepted, well over asking. We expect the lender to value at something close to the asking price and, in this environment, don't see why the vendor would renegotiate if that happens. If the…
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mortgages for dummies - First time buyers - right to buy HELP!!!
Myself and my Husband are in the process of buying our home under the 'preserved right to buy scheme'. We have been renting our home for 26 years, and it has been valued at £140000, although with the right to buy discount we will get it for £66000. We also wanted to add another £15000 for improvments. We have only ever…
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remortgage term dilema
Hello, Our current mortgage ends in September, can we look to remortgage 6 months in advance? Would an offer last that long? Thanks
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TSB
I had a letter from TSB a few days ago, can someone explain?: "When you applied for a mortgage or further advance with us ( ie over 20 yrs ago), we calculated how much you could afford to borrow based on your income and commitments. We've discovered an issue with the way we assessed the affordability of your mortgage. We…
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Natwest mortgage
So my broker submitted an application with natwest on the 21st of March 2022, and hard search was carried out on that day 21st March 2022, I checked all credit reference agencies and the hard search is only showing on equifax and clearscore. On the 26th of March, I received a notification on my credit karma telling me I…
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Nationwide six month rule
Does anyone know if Nationwide will allow me to buy a property for cash then port an existing mortgage? An old post on the forum states that Nationwide doesn't apply a six month rule for mortgaging a newly purchased property. https://forums.moneysavingexpert.com/discussion/3429595/6-month-rule-residential-mortgage I have…
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Mortgage required to buy house behind and knock through
Advice needed- I own my property outright, mid back to back terrace, I want to purchase the property behind and knock through. Not a lot of work required building wise. I will need to mortgage my property in order to release some equity in order to by the other property for cash. I will then need to remortgage the whole…
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Remortgaging when you plan to move
Our 3 yr fix with Leeds Building Society is coming to an end so we need to remortgage. We would ideally like to move within the next couple of years, though there is no guarantee we'd be able to find somewhere suitable to move to. I've had two different conversations with two mortgage brokers who are recommending different…
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How scary do I look to Mortgage lenders
I have been a company sole director since 2014. I am not a shareholder in the company though! In March 2021 I signed a management agreement with the shareholders and salaried myself as a Managing Director on a PAYE basis (£62k pa). I wias planning for getting a mortgage when opportunity arise. last month I resign from the…
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Buying house together with Mother in law but MIL not on the mortgage - tax?
Hi there, Please help me try to make my family dream come true. Myself and husband have found the house of our dreams and we want to live with my husband's mum (MIL - Mother in law). We all get on super well and have thought about this for years. We are nearly there, we have found the house, had the offer accepted, my…
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Should I keep a small mortgage
My current mortgage deal ends in just under 3 months time after which I'll have 5 years left. At the moment I have £17,752 remaining and £40k in my savings. My original plan was to pay the balance off in full the day after the current deal ends. I do however intend on moving again in the not too distant future so would I…
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FTB Mortgage Low Credit Score and CCJ
Hi Looking for some advice please! My wife and I are FTB's. Combined income is approx £75K Wife credit file is clear but score is fair (no adverse credit other than some late payments on a credit agreement about 2 years ago which have all been up to date since and did not result in a default). Couple of credit cards and…
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Scottish Stamp Duty (LBTT)
Looking for some advice from anyone who may be familiar with the Scottish system please. I am still on my ex wife's mortgage but no longer on the title of the property. Would this leave me liable for the additional TBTT for second-home owners?
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Separation agreement for mortgage
Hi all, I’m stating the process of buying my ex out of our mortgage, he only lived in the property for 3 months before we broke up and he has verbally agreed he only wants back what he put into the deposit which I can afford. He hasn’t contributed to the mortgage since he moved out. I wanted to enquire about getting this…
