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Stamp duty
Hello, I am in the process of buying my FIRST home. My husband had a mortgage many years ago (probably about 15 years ago). I'm muddled if we will therefore pay stamp duty? Some places I've read say we will as husband is not a first time buyer. Also the house is £225K which again I am not sure if the sum exempts from stamp…
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Nationwide - Unable to get a new rate?
I have less than 2 years to run to pay off on my interest only mortgage. My current fixed rate ends this month and I am being automatically moved onto the SVR. This is much more expensive and liable to increase further if interest rates rise. Nationwide will not offer me a fixed rate deal as they do not have such products…
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Money gift from overseas family
Hello If my family decides to send me money from overseas as a form of gift for a deposite for a house, would mortgage lenders want to know the source of the funds? If the source of funds is a portion of a personal loan taken by a family member would this be a cause of concern?
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Target h2b Redeem
How long are target taking to redeem at the moment?
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I need to have a rant about my mortgage application experience
i would love to hear some opinions on what you think, how I can deal with this mentally etc in 2021 I applied for a mortgage with Halifax through a broker. Rejected I’m self employed and I only had one year accounts, I chose to not persue it and left it on the 08/05/2022 I decided to try again as I have more evidence. My…
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Can a shared ownership mortgage be bought out with a BTL mortgage?
Hi there, 1. Shared ownership, own 40%, purchase price £155k 2. Granted permission by HA and bank to sublet due to changes in personal circumstances 3. Current mortgage deal has come to an end, bank cannot offer a deal due to the sublet so must be on variable (high)4. Asked if it's possible to buy the HA out with a BTL…
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Fixed Rate Ending with Santander 05/23
Hi, I'm desperately worried as since taking out the mortgage we are now both self employed and not earning a great deal but still covering mortgage and bills ok, never missed a payment. But I'm worried about when our fixed rate ends in May whether we would struggle to be accepted by them (or any other lender) as being a…
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How do you get a Mortgage against your Mortgage Free Home (NOT Equity Release)
a family member in the very early stages of looking at this option. but, and i have used various lenders online calculators and found the same as them, there is never the right option of what type of mortgage you want. FTB doesn't work as no deposit, remortgage doesn't work as £0 outstanding. LTV would be no more than…
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Simple interest rate question
Hi, I have 2 Nationwide mortgages (for the same property), one of which is coming to the end of its fixed rate in Jan, and one that comes to the end of its fixed rate in Feb. Nationwide allows me to switch/lock in a new rate 5 months before the end. So that would be Sep 1st and Oct 1st respectively. So in an ideal world I…
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Maximum overpayment
Silly question alert - first direct allow unlimited overpayments on their fixed rate mortgages without charge provided that the mortgage isn't paid off in full before the fixed period ends. So, is a minimum monthly payment required or could I make a lump sum overpayment which reduces the outstanding balance to say 1p per…
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Fixed offset mortgage
Currently on the lookout for a fixed offset mortgage. LTV is 30%. Waiting to hear back from my broker, but wanted to do some research myself too. Why do some banks make a simple list of mortgage products so hard to find! Also, offset mortgages don’t seem to be part of any of the comparison searches! So far I’ve only found…
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5.8% interest rate for adverse credit??
Hi could anyone please advise if this rate is too high? Our broker has come back with Interest rate of 5.8%. Our situation is as follows. Myself: - self employed sole trader decorator since 2018 - 2020-2021 profits after expenses £25k - 2021-2022 profits after expenses £35k - 2 defaults (vodafone £500 sep 2018 settled…
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Advice needed, want to sell next year
I’m currently on a tracker rate fixed for 2 years. I’m interested to switch to a fixed rate with no early repayment charge as I have no ERC on my current deal and I’m worried that the BOE rate is going up and up and 5-6% rates are scary. The thing is I also want to sell early next year. I’ve been stuck in my flat which has…
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Mortgage Advice - To Switch or To Not Switch
Good Morning, We are looking for a bit of advice if possible. Currently we are on a Tracker Mortgage with Barclays at 2.49% and also we have a reserve mortgage at 6.28% that runs along side the main mortgage. We owe approx £44,000 on the main mortgage and £7000 on the reserve. Our payments each month are £382 for the main…
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Remortgage
Hi, just querying my fixed term doesn't end until the end of may 2023 but I can remortgaged 3 months earlier in march 2023 but just querying whether I should move remortgage now before my fixed term ends and pay £1600 in penalty fees or leaving until march next year with the fear of rising interest rates. I would be…
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Precise Mortgages Advice Needed
Hi all so I got my help to buy equity loan sorted and everything has ploughed on ahead with the solicitor and valuation etc but precise keep asking more questions; I wait the 5-6 working days between each question and think they must have all of the info now then get more, for example this weeks was what are 3 PayPal…
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Remortgaging and cancer
Hello, I’m wondering if anyone has any advice for our situation. Please be gentle, I’m not at my best. Our situation: I was diagnosed with cancer earlier this year and have had major surgery to remove the tumour. They think they got it all so no chemotherapy. When I was diagnosed I was 3 months into a new job that had a 6…
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Help to buy repayments
Hi all, I’m approaching the 6th year of my help to buy equity loan. I’m wondering if the changes in inflation or rising interest rates will have any impact on my future payments? I understand I’ll pay 1.75% of my £28k loan this coming year, but the below confuses me for year 7 onwards; The interest rate increases every…
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Santander tracker - what does this mean
Hi can anyone please advise what this means? My broker is not sure. I do not know why there is no status on the valuation and what UW PSD means? Thanks
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Guidance on Change or rate and term with early reception charge-Nationwide
Hello, My fix with Nationwide is due to end April next year, and I would rather pay my ERC now and refix than go through a few more base rate increases before I can. Is anyone aware of the process for this with Nationwide as I want to fully understand this. And recommendations of a good broker, as the anxiety of doing my…
