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Mortgage Audit?
Hi there! FTB here. Everything seemed to be going smoothly with my purchase, valuation was done both independently and via the lender. I was due to hear back last week on Sept 1st. The broker informed me that the application was pulled out for auditing and we should hear back in 5 days. It’s been close to 10 now and unsure…
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Paying Lump sum off Part Interest Only Part repayment Mortgage, plus remortgage question
Hi All, I have a question, I have a Nationwide mortgage on a part interest only Part repayment basis. I had an Endowment / Critical accident policy that has recently matured. I am in a position to repay the Interest Only part of the mortgage and some of the repayment part. I know I can make overpayments by online banking.…
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Natwest - Damp and Timber survey Ready to offer?
Natwest requested a Damp and Timber survey following the valuation on a property we are buying since the request the survey has been done and nothing serious was found,(still awaiting report) it was recommended an air brick installed in a add-on porch so nothing to worry about there very minor work my question is would…
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Borrowing more than purchase price
Is it possible to borrow more than the amount needed to purchase the property on a purchase mortgage or can this only be done through a subsequent remortgage? E.g. deposit £60,000. Purchase price £120,000. Borrow £80,000. This would be to allow all funds in Lifetime ISAs to be withdrawn penalty-free to be used towards the…
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Remortgage now or wait??
I'm not sure anyone will be able to give me the advice I'm after but basically my fixed rate ends next August and we had been considering when it ends adding 20,000 onto it for some home improvements. We have around £61,000 outstanding. We're now debating remortgaging early and taking the small hit on the ERC (think 1%)…
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Worried About Mortgage Application
Not really sure what I’m after here, just feeling really concerned about our imminent mortgage application. We have gone through a broker who checked with a number of mortgage companies and was confident we could easily get £270,000, she then got us an AIP for £270,750 with NatWest. We put in an offer for a house last week…
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What happens if I sell a house early after buying? Mortgage wise.
Hello, Any help here is greatly appreciated, as I have a bit of a dilemma I need advice with Basically I could be moving into a house shortly that is worth 150k. However, 50% of the house has been left to me in an inheritance. I obviously need 75k to buy out the person who owns the other 50% of the house. I can get a…
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What can a broker do that I can't?
I've got two AIPs with high street lenders (1 Experian, 1 Equifax) and I am not a 100% straightforward case because of a short AP (3mnth) last year and erroneous entries this year So what precisely would I be paying a mortgage broker to do in these circumstances? I'm weighing up all of my costs, and if I can avoid an extra…
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Offset Mortgages
I am coming into a large sum of money soon and for various reasons I think an offset mortgage might be the way to go. Can anyone advise who is doing the best variable and fixed offsets at the moment?
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Remortgage now??
My mortgage is not due to renew till 28 Feb 2023, so I'm just outside the 6 month period for remortgaging. I phoned Nationwide to see what my options were and they said I could not change my current deal (or lock in a deal I think?) until the 1st of October. The other option they gave me was to pay an exit fee of £621 and…
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Is it possible to lock in a cheap rate now until fixed deal ends?
Hello, The following paragraph in this article caught my attention: I'm currently on a fixed rate with HSBC until 31.01.2023. I can change the rate from 05.10.2022 without having to pay any additional fees. Going back to that paragraph above, how can I lock in a new fixed rate now, which will start when my current fixed…
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Why not a tracker mortgage?
My fixed mortgage of 1.44% ends in January 2023. I'm currently with HSBC and an internal remortgaging seems to get me 3.39% - 2 Years fixed. That's quite a hike. Then I was thinking why not picking a tracker from HSBC for 2.54% - 2 years term. Could it get worse from here? The interest rate has to further go up by 1% to…
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Anyone know of HSBC request more bank statements?
Hey, Have had formal mortgage offer via a Broker. Just waiting for things to progress. Does anyone know if HSBC request any further bank statements before completion? Finances are absolutely fine but I need to start purchasing some substantial things and dont want to cause and concern. Thanks in advance if anyone knows
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Stick with older BMR deal or take out new fixed deal?
Hello folks, I’m looking to employ the wisdom of the masses!We have ~£60k and 10 years left on our mortgage. Our rate is a Base Mortgage Rate (bmr - basically bank rate +2%), from 2007 deal, so it’s currently 3.75% and £550 p/month for us Due to uncertainty, my wife wants us to leave the bmr and fix with whatever the…
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Remortgage Timeline. when is the latest I cancel the new deal?
I'm in a bit of a stressful situation. Hoping in the next few days to accept a new job abroad that would make me sell the flat I live in now but nothing is certain just yet. My fixed rate mortgage is due to expire at the end of September, I have already contacted my mortgage advisor and locked a new 2 year fixed rate with…
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Desperate help for a mortgage
So me and my partner bought a house in 2020 (only in her name) as my credit report was shoddy at best. During 2017/2018 I got into some trouble and ended up with 3 defaults on my account. By 2020 I had sorted myself and paid them off in the hope that this would help me buy a house that year but to no avail. Now we have…
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Broker that waives fee for NHS staff
Just going through the home buying process. Have used Alexander Hall as our mortgage broker. They informed us the other day that since my partner is NHS staff they waive their fee (usually £499). They don't seem to advertise this so it was only right at the point of application we found this out!
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Coneyancer completed Remortgage early
Hello, I was looking for guidance and opinions on firstly who was at fault and secondly what my options are moving forward. Mortgage all sorted and went to offer. Completed the documents Enact conveyancing (lenders solicitor) asked us to. But then received an email end of August to say that my Remortgage has completed, 2…
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Key worker loan, tower homes
Hi my husband brought a house in 2009 with the help of a key worker scheme. We have been paying interest on the loan to them every month and they also own a percentage of the house. What is the best way of getting rid of this. We need advise and no one seems to know about the scheme as tower homes is no more and have been…
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Can PIP be used in a joint mortgage?
Hi There, I was just wondering how income is considered when applying for a joint mortgage. I’m currently receiving PIP (Personal Independence Payment) due to a severe foot injury that occurred a few years ago which due to my mobility issues has led to me developing agoraphobia. I get about £5,900 a year from that. As far…
