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Port application - Clydesdale
Hi all, first time poster, long time viewer! We are currently going through a port application with Clydesdale and are feeling incredibly anxious as our next option is a 7k ERC and a much higher full interest rate. My husband is the sole earner at 102800 basic and 95k OTE (Last 2 years average of 70k comms) Mortgage…
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FTB Help! Restructure existing debts to improve affordability?
Hi, and thanks in advance for reading! I'm a first time buyer hoping to get a mortgage within the next 3 months. I can afford a max of £200k ish with my current income and debt outgoings however if I reduce my debt / outgoings I can hopefully borrow around £340k based on the research I've done so far. I have 9.5k on a…
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Remortgaging and planning for a baby
Hi all, Can anyone offer some advice. We have been on a 5 year fixed mortgage which is ending in March 2026. We have been discussing trying for a baby in the new year but I had a sudden thought about the fact that we will remortgage in March and I'm wondering if potentially being pregnant at the time of renewal will affect…
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Bank refuses to calculate redemption figure
In the MSE guide to remortgaging it says: 5. Get the exact figure you still owe on your mortgage so you don't end up with a shortfall https://www.moneysavingexpert.com/mortgages/getting-ready-remortgage/ and goes on to advise that you should ask your current mortgage lender to tell you the cost of paying off your mortgage…
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Mortgage decline reason and appeal
Hello all This is a very long and complicated story, so I will focus only on the key points relevant to getting some help, please: * I have submitted a mortgage decision in principle that was declined. * The lender wouldn't give a specific reason, but gave the extremely vague answer that it was due to adverse data on the…
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Mortgage Porting & Downsizing
Hi all, Hoping someone can provide some clarity on mortgage porting & downsizing. Have sold our property for £575,000. Our property was valued by mortgage company approx 490k so we are in the 75% loan to value bracket. We have £367,000 outstanding on mortgage with Natwest. We are looking to purchase a property for £425,000…
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Likelihood of last minute credit check - Nationwide
Hi all, We're completing on our house in a few weeks. We're FTB. Our mortgage offer was issued by Nationwide with a note in there to say my credit card needs to be cleared (balance was approx £2k when I applied). Being completely honest, a lot of the costs we've had to pay leading up to the house purchase have been…
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Mortgage Tipping Point
Hi, I'm into the 18th year of a 27 year tracker repayment mortgage. The Monthly Mortgage is £464 but the capital reduction each month is about £190. I would have thought by now we would be paying more capital than interest. What are your thoughts?
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Overpay Interest or Capital and Repayment
Hi, I am sorry if this has been asked before, but I want to over pay my mortgage. It is made up of 2 parts, one part interest only and the other capital and repayment, both due to end in 15 years. Does it make more financial sense to overpay the interest only or capital and repayment part? Thanks in advance.
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Govt help to buy loan. In current climate should I pay it off?
Hi all. Was dead set on repaying it this yr and somebody just made a very gd point that I should rethink n weigh up the interest on it Vs paying off and house prices. He doesn't believe I should and rather pay the mortgage down asuch as I can for now as that's higher Vs property price increase and the loan interest. More I…
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Low-LTV (£125-150 k) mortgage with 75-y-o parent – lender options?
Key facts * Purchase price: £625 k * Equity from sale: ≈ £567 k * Loan needed: £100-150 k (≈ 20-24 % LTV) * Refurb budget: up to £60 k (kept from equity) Applicant 1 (me) * Age 41, trainee surveyor (RICS) * Salary down to £28 k from £90k as retraining → rising to ~£50 k in Aug 2026 when I qualify * Clean credit (never had…
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Joint or Solo Mortgage?
Hi all, My husband and I are in the process of buying our first home together and are weighing up whether to apply for a mortgage jointly or in just one of our names. I'll be selling my flat and using the proceeds as our deposit. Although the funds are from the sale of my property, we're treating it as a joint purchase.…
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maintaining a token balance
It used to be recommended to maintain a token mortgage balance as a protection against fraudsters claiming your home, and also as a way to keep the deeds safe without incurring storage fee from your bank. Is there a protection still in asking the mortgage lender to retain a token balance?
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How do I calculate the HSBC tracker vs fixed rate saving?
HSBC Remortgage - want to move in around a couple of years....want to stay with same lender, they seem to always be the best with rates and exit fees anyway... £185k : 30 Year Term commencing 1st July HSBC 2 Yr Tracker 4.49% £999 HSBC 2 Yr Fix 4.04% £999 I anticipate BOE rate to drop say in August, so tracker will be 4.24%…
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Mortgage Rates Natwest
Hi My mortgage ends in 4 months time and I have been offered the below 6 options by NatWest who my mortgage is with at present. Currently have a balance of £126357 with 29 years and 1 month left and 60% ltv. 1. 2 year fixed at 4.32%. No fees 2. 2 year fixed at 3.93%. £995 fee 3. 2 year tracker at 4.97%. No fees 4. 2 year…
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Best way to overpay these two mortgages - advice please!
Hoping someone with a better brain for this can give some advice... I am in a fairly fortunate position and trying to work out the best way to do all of this... Hoping this is the right place for this. Have mortgage 1, 160k on 2.48% fixed for 10 years from Nov 2022, ends Oct 2032. 25 yr term. Current balance 125k including…
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Accord mortgages following payday loans
Hi, wondering if anyone has any experience of an Accord mortgage following payday loans. These were paid off 4-5 years ago and other wise my credit file is absolutely fine. However we only have a 5% deposit. The first stage was approved (AIP) and now we are very nervously waiting for the underwriting. I’d love to hear some…
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AIP to Mortgage offer
Hi, sorry for what might seem a stupid question. But whats the difference between submitting an AIP and a formal mortgage offer? I have an AIP with Accord, slight historic adverse. My Mortgage broker has been provided with all documents thus far thats been requested such as pay slips, credit files, bank statement (that my…
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Hard search done , is this a good sign?
Hi everyone I applied for a mortgage on Thursday the 25th and a hard search was done on that day , a valuation was done in person yesterday , I’m just wondering if since the hard search has already been done and we haven’t heard anything bad from that , and they carried out a valuation the next day , is that a good sign ?…
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End of mortgage term last year (August 2024) but bank didn't contact me before now - can't pay total
Hi My interest only mortgage term ended in August last year (2024) and the bank didn't contact me until now. They didn't contact me before that. I've been in arrears for several years and in an arrangement to pay these off plus my monthly instalments. I went into arrears due to ill health and being unable to work since end…
