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Help preparing for forthcoming mortgage application
I have a meeting with my bank's mortgage advisor next week and hoping to get some tips/advice to help me prepare. Background info: * I'm 56 later this year and looking for a mortgage that will run beyond retirement (planned retirement age 65 - 67). Ideally I'd like a 20 year mortgage if that's a realistic option. I see…
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Being Bought Out of Mortgage/House - Advice Please
Hi all, Hoping you can advise on this please. I friend of mine (yes, asking for a friend! Genuinely!!) has separated from her partner. They jointly own a house with a mortgage in both their names that they have been paying equally into. He has offered to buy her out and retain the property but she has no idea how to go…
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Should I pay ERC of £10500?
Hi All,Our current mortgage is around 530K with monthly payment of £1935 (rate 1.24%).Like many others we too are feeling the heat of rate increase, hence managed to get an offer from Barclays in mid July at 3% fixed for 10 years.The offer is valid until mid Dec, so we are trying to find the best option. Current mortgage 2…
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Advice on transfer of equity/property ownership
Hi all, I hope someone can give me some advice. Essentially my ex-partner and I are splitting up. She has moved out and I have taken on the mortgage. It had been amicable with the plan being for me to buy our her equity and take on a larger mortgage with the balance being paid to her. She asked for three valuations which I…
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What to do at end of fixed rate?
Currently on a fixed rate at 2.58% until June 2023. Also got a sub account from porting a previous balance which is 3.06% FR until May 2025. Having never been in this position before, what’s the advice from you guys to do in June or prior to June? I appreciate not much I can do with regards to the sub account? Thanks in…
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Can lenders change rates mid application?
Our application has been in with lender for 7 weeks as they have had delays. Today we were told they are happy to offer however they were dropping our maximum loan by £20k due to BOE base rate and changed affordability etc. our MB and director have obviously raised this to a much senior level as this is something that is…
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Nationwide stopping exchange due to partial gifted deposit
Hi folks, Situation: Buying a house valued at £205k. Putting down a deposit of £25,500. Was meant to exchange yesterday, but it turns out my mortgage advisor didn't note on the application that £10k was coming from a family gift, in contrast to my solicitor who did. Nationwide have said our affordability has therefore…
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Property with Short Lease
I'm looking to possibly buy a property that has a short lease, the property is in probate at the moment. There is 44 years left on the lease - would I be able to get a mortgage ( only looking at 16 years ), or would I have to buy and then as part of the purchase also but the leasehold of the property? Thanks Dave
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Outstanding enquiry - referred to lender underwriter?
Hello, TL;DR we have been waiting and ready to exchange on a SO property since late June, we had one enquiry outstanding. Our solicitor wanted to see the s106 consent to communicate to public sewers under the water industry act 1991, the HA have been messing us around saying we shouldn’t need this, we’ve completed on other…
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Mortgage protection
Do I need mortgage protection as soon as the mortgage is approved and does the lender usually want to know that I've taken out mortgage protection? I know I'll be advised to take it out ASAP but do I have to? The reason I ask is because I've been getting quotes but I was refused cover for unemployment only accepted…
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Is it wise to overpay double?
I have recently taken out a mortgage. Since then I have found a job paying more and I can now pay double each month. The lender allows it and I see this as a good thing as when my rate ends in five years I will have less on the mortgage to pay back which equals less interest. Would there be any drawbacks? I will save an…
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Advise on mortgage payments/interest rate
Can someone advise on this please. I I recently got a mortgage in April 2022, and because I had some defaults on my credit file dating 2017/2018, I could not get a mortgage from a high street lender. The mortgage is fixed for 5years, so hopefully, in 5year's time, I will be able to move over to one of the high street…
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Pay off morgage or put in savings? also question about LTV
Hello! Back in Feb I secured a mortgage with a 1.44% interest and I was looking into making additional payments on it but then I realised that the interest rate on my ISA is currently 1.50%Is it better to put the money I was going to over-pay with into my ISA and earn the interest since I benefit more from the ISA interest…
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Remortgaging buy to let
Hi all, Can anybody help? I'm remortgaging my buy to let property. I was talking to a broker who got me a mortgage in principle, but failed to inform me of his fees to take out the mortgage. My question is, now I know I have the mortgage in principle and have the document, would it be wrong to go straight to the company…
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Should I pay off my mortgage?
Hello all, sorry for asking what might seem such a silly question, but with all the rate rises I find myself with options. Firstly, i've had my mortgage since Feb 2008. Circa £120k, fixed rate for 3/4 years at about 4.5%, then it dropped to a variable rate. It was meant to be something like 2.65% above the base rate, but…
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Is Porting remainder of a current mortgage worth it?
Hi, I've tried my best to find ways to calculate this myself, but can't quite tell which option is best for the following financially: -Have £48k of a 1.49% fixed term left (deal ends Feb 2026) with Nationwide -Have bought a new house, and mortgage needed for this is £172,500-Best mortgage i can get with new lender for 5…
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Right To Buy
Hi So I have just completed a 'Right To Buy' on my council house, we have a Nat West mortgage on a fixed rate for 5 years. We were told we had to go the repayment mortgage route but what is now stopping us changing the mortgage to an interest only? We would like to take equity out of the house to buy another property to…
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Help to Buy Agency - Cladding
Hello, My 5 year fixed rate of 2.69% with Halifax comes to an end on 31st Jan 2023 and I’m remortgaging with the aim of paying off my Help to Buy Loan. I have got a RICS valuation and submitted it to Target HCA, with my redemption application form and £200 fee. Remortgage application is booked at Lloyds for Friday. I live…
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What is the process to secure a rate 9 months early with Nationwide?
Is it pretty straight forward?
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Mortgaging extension on top of existing mortgage
Hi all I am planning an extension to the house in the next year or so (waiting on planning and issues around drainage). But my current mortgage deal is up now. It would make sense to jump into another deal and save on the large % I'm currently paying. I was originally planning on asking for the additional money with a…
