-
Valuation on remortgage
Hi, We’re in a situation where we are right on the cusp of falling under the 90% LTV bracket. Falling into 95% LTV isn’t an option given the rates, so I either need a higher valuation or to overpay. Would rather avoid overpaying if possible. Have had 2 lenders valuations come back at £270k - £5k less than what I’d need to…
-
Porting mortgage and additional borrowing/extending term
Hi all, Could anyone help me wrap my head around this? Current mortgage has 2 years remaining on the fixed term. (12 years til finished)Hoping to achieve £120k sale and current balance is £60k. New property is £195k. If I port my mortgage I would need to borrow the additional and extend the term to 20 years on the…
-
Shares Transfer
I am the sole director (100% shares) of a limited company and am looking to transfer 80% of my shares to my retired parent. My mortgage application (single applicant) is based on my salary only. I have been paid 50k for the last year so have 12 months of payslips already. Lastly, if I wanted to buy shares back in 3-5 years…
-
Buying property in France
Hello, Hello, I’m currently looking to purchase a buy-to-let property in the French Alps, priced at €420,000, and I require a mortgage or loan of approximately £320,000. I have an £80,000 deposit available. Unfortunately, I’ve encountered challenges securing financing. French high street banks have been unable to assist…
-
Barclays Fixed Mortgage: can you still regularly overpay without ERCs?
I know this has been asked before, and I've previously used this approach with success on our Barclays/Woolwich Tracker mortgage. But it seems almost too good to be true, and I'm wondering if anyone can confirm this is still the case for a fixed rate standard residential mortgage. So, it isn't very clearly documented, but…
-
First time buyer after past debt
Hi all, This is my first time posting so apologies if this is in the wrong place but I’m just hoping someone can help to put my mind at ease. A few years ago in my early twenties, I made a catalogue of stupid mistakes and got myself into a payday loan cycle - all of which were paid off 6-7 years ago and are no longer…
-
Hoping to buy dilemmas…
Hi, I’ve not posted on here for absolutely years but was wondering if I could have some thoughts from others to help me. We live in a rented house right now and will hopefully be receiving some early inheritance through a property trust. I’m late 40s and DH is early 50s. We have a decent income but with past debt and…
-
Interest Only Mortgage due
I have an Interest only mortgage that is due for redemption Oct 2025. Despite never having a late or missed payment I can't get another interest only mortgage, they only offer these to people on high wages with a highly valued property (In excess of the £320,000 that mine's valued at). I don't earn enough to be able to…
-
Mortgage affordability checks - commuting costs
I wondered if anyone had any experience of the following please. During mortgage affordability checks, what if current commuting costs are significantly higher than what they would be in the new home? Was it enough to explain this to your broker please?
-
mortgage prisoners and unregulated mortgages - class actions
unregulated mortgages - could these be defined as 'mortgage prisoners' - to MSE and Martin Lewis : are their any CLASS ACTIONS other than the Northern Rock and Bradford and Bingley actions- that might help the thousands of customers on these products? if so which legal teams are they?
-
Equity release to purchase property
Afternoon all Not urgent for now and probably won’t happen soon - if at all - but at some point down the line I am anticipating a family member needing some general guidance on how best to purchase a new property. I think I can say with some confidence that renting won’t be an acceptable option. In simple terms, can…
-
Mortgage Application with Leeds BS
Hello, About to submit full application with Leeds Building Society, who we have an AIP with. They are only asking for 1 months bank statements and 1 payslip each. Doesn't seem like alot, will they just come back and ask for more? Should I just submit 3 now? Anyone else been through them recently? Did they ask loads of…
-
The mortgage lender- remortgage
Has anyone remortgaged with the mortgage lender. There would be no changes or additional borrowing. I know a broker has to do this for you, what do they charge. Is there any affordability checks or credit checks? thanks
-
Is mortgage and council tax at 42% of income too high?
Hi all. Bit of a complicated one (for me anyway). Currently have my own mortgaged flat and looking to purchase a house with my partner who is currently renting. We have found a house that ticks every box. However, the price and percentages on my end are concerning me. Currently my mortgage and council tax are 17% of my…
-
Interest only mortgage rolled on without resolution
This is a complicated one but anyone with similar experiences? My dad (72) was sold an interest only mortgage on the house he owned with my mum in 2011, for £108k. It ended in 2021 and since then he’s just made the payment every month by standing order. They’ve got in touch a few times to ask how he proposes to settle the…
-
Nationwide: additional borrowing
Hi Im looking at borrowing £30k against my home (£300000) we have the existing mortgage with Nationwide. when I'm looking on NW mortgage page and going through the application it wont let me have the additional borrowing for a longer period than the existing mortgage. surly this would be a new product,,, so would be stand…
-
Remortgaging soon! Chances of mainstream?
Hi all When purchased in November 2023, I was on probation for new job so it limited our lender options and ended up at Kensington. Now as we look to remortgage later this year, our home value should be around 320k with equity of approx 75k and a combined income of £105k. Couple of car loans totalling 560 p/month, loan of…
-
2 year fixes now cheaper than 5 - what does it mean?
Ever since Liz Truss, many banks have offered 5-year rates significantly lower than their best 2-year. My interpretation of this was that the banks were predicting that interest rates would fall. In the last few weeks, though, banks have started prices 2-years below 5-tears again. Eg Yorkshire’s current best 2-year…
-
Halifax: Credit Check after Cerificate of Title
Halifax Final Credit Check - Certificate of Title I am at the final stages of buying my home. Deposit paid - valuation done - move out day set - contracts signed. From what I understand, Halifax complete a final credit cheque before releasing funds. This email chain happened with my solicitor today, does this suggest…
-
First time of remortgaging
Hi everyone, we’ve been homeowners for 15 years but due to house moves and the use of SVR, this is the first time we’ve actually had to remortgage to get a new deal on the same house. We’ve accepted that our payments will be taking a jump, as we are currently at the end of 5 years at 1.84% sadly. We are currently paying…
