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Mortgage declined due to unaffordability, but I can afford it, what can I do to keep my rate?
I've applied for a Natwest mortgage of £382,500.This is 90 LTV as I have a 10% deposit of £42500 (the flat I bought costs £425,000).I applied for a mortgage length of 30 years.I earn 80k annually with a 10k bonus written into my contract.I have been at my current company for 2 years and have received 2 annual bonus…
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How long until completion of my mortgage?
I’m not sure how long the process takes but here is where I’m at: I’ve received a mortgage offer and I’m about to accept it this week. Me and my partner are using a HTB and LISA ISA to pay the deposit. Our solicitors have already obtained the necessary property searches/conveyancing searches and all came back okay. The…
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Mortgage for Building under 18m, with Timber balcony and No EWS1
Good afternoon, I am stuck with a residential mortgage (my lenders doesn't have Buy to Let product) because we haven't got an EWS1. The building is under 18m and it's mainly brickwork. The main issue is that it has timber balcony and a tiny amount of cladding in the stair core. The management company doesn't have intention…
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Halifax first payment - when will it come out?
Hi everyone i need a bit of advice from anyone who has had a Halifax mortgage. I know the first payment is always higher but I just want to know roughly when it would come out so I can budget for it. I am due to move into the house on 19th December. When I rang Halifax they said the first payment would come out on 1st Jan.…
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Nationwide product switch
I have received a mortgage offer recently but the rates dropped. I contacted the lender to ask if I can switch to the lower product but they said they will do hard search again. Problem is that I have recently taken a phone on credit. Its only £1000, £50 monthly. I have now paid this off in full but if the lender do the…
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Product switch rates vs moving home rates with Nationwide
Moving house, and porting existing mortgage with Nationwide (77k at 2.29% until June 2032). We're borrowing an additional 80k for the new house. Have been considering the 5.39% 5 year fix for that. However, Nationwide rates for product switches are better than for they are for existing members moving, e.g. it is 4.79% for…
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Offset mortgage tracker - fully offset impact
Hi all, I currently have an offset mortgage with Barclays which I’ve had for years (offset tracker, repayment). Over the years I’ve increased savings and has been increasingly becoming offset. It’s been at the same payment since 2018, and only recently has been increasing. However for the last year, the mortgage has been…
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Joint mortgage application - only one permanent job
Hi all, myself and my partner are looking to apply for a mortgage from the middle of next year onwards. We are doing some research into how best to maximise options. We are doing a lot of reading and research and speaking to friends and family and will employ a broker. Just saying that now to keep responses succinct and to…
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MSE News: Staying with your existing lender may now be cheaper than switching to a different one
If you need a new mortgage you might now be much better off sticking with your existing lender than switching to a new one. We take a look at the difference between 'sticking or twisting', and why the balance between the two options has shifted. Read the full story: 'Need a new mortgage? Staying with your existing lender…
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Extending a mortgage offer for a new build
not sure if anyone has any ideas re this one? Daughter and partner have a mortgage offer, but the long stop date for their new build home has been pushed back a few weeks beyond when the offer expires (offer expires 28th March and long stop date is 10th April). They are both teachers so unlikely to have any material…
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Incorrectly identified as social housing
We are a couple of months into the process of selling our flat (purpose-built block, 15-20 years old), and today our EA has called to say our buyer’s solicitor has said our building is primarily social housing, and on this basis, the buyer (BTL investor) will not get their mortgage offer. The building has no social housing…
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How long between mortgage settlement and Land Registry update?
Afternoon all, Pretty much what it says on the tin. I paid off my mortgage (exact date in signature) and I am hoping to get myself an Official Copy of the Register for Christmas. How long does it usually takes to update the Registry? I know that I can pay £3 for a virtual copy and check that way but being MSE minded...…
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Alternatives to a small mortgage?
TLDR: Are there other options for an 80k mortgage eg. Other loan or mortgage based on history of income/expenses? My husband and I have been planning to move from the south to the north, we were planning to move in a couple of years and secure jobs in the area so we can get a mortgage. To prepare we've saved a good deposit…
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If you applied for a mortgage in the past few weeks but haven't completed yet....
Over the last 10 days, since the bank-rate rise on 3rd Nov, many lenders across the breadth of the market (mainstream, adverse, BTL, small building societies, etc.) have reduced the cost of mortgages for both new business (purchase and re-mortgage) and existing customers (product-switches). This spans fixed, tracker and…
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Multiple searches with mortgage application
I have had two hard searches and two soft searches within two days of each other. Is this a normal enough process when submitting an application with Halifax?
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Pensioner Mum coming near the end of her mortgage term on interest only - balance still left to pay
My parents
bought their housing executive house on an interest only mortgage approximately
20 years ago. At the time they were only paying around £40 a month and to be honest
they were finding it tight with money. I think they had made plans to start to
pay off some of the capital, but they had just taken the mortgage and…
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Overpay and remortgage or keep the low rate?
Appreciate its difficult to answer but looking for advice on whether to overpay my mortgage or wait. Currently on a rate of 1.14%, monthly payment £751, got 9 months left of a two year fix, with a further 15 years to go to complete my mortgage. Current balance is £130,557, house is worth roughly £385,000, original value…
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Interest-only mortgage coming to an end, chunk left to pay
I have an interest-only mortgage coming to an end in April next year. I was hoping to have paid the whole amount off but haven't done so yet, and have around £75,000 outstanding on a house which is probably worth around £240,000 now. I can probably pay off 75% of the amount from savings, pension, etc., but it will be a…
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Did anyone recently fix at 6% or above and are you still happy with your decision
I recall in the days after the mini-budget there was a lot of panic as mortgage rates seems to be rising incessantly on a daily basis. It looks like with the new government and promises of public sector cuts and tax rises, interest and mortgage rates may not end up being as high as some had predicted. Did any of you fix at…
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MSE News: Cheapest fixed mortgage deals dip below 5% – the lowest rate in a month
Homebuyers and those looking to remortgage can now take out a five-year fixed deal that charges less than 5% interest. It's the lowest shorter-term fixed rate for new customers we've seen in a month and suggests rates have peaked following recent turbulence. Below we explain how the new deal works and how it compares. Read…
