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How have you/do you become disciplined to overpay your mortgage?
My term is currently 30 years, age 40, want to pay if off by 55. Balance 187k. I like the flexibility of having a long term, but I just seem to only pay off small amount less than 100 every couple of months. Do I bite the bullet and just reduce the term, or do i set up an extra DD with HSBC. What do you lot do?
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Downsizing home to help purchase workplace
Hello, I'm in a position to
buy my workplace (a freehold, stand alone repair-workshop), which
I'd like to do but I need to borrow around £45k to do so. I've also realised I want to move into a smaller, cheaper home and I'm hoping
to use this to help purchase my workplace but I'm struggling to
get my head around it. In…
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Will it be possible to buy ....
we ( wife and myself ) want to buy our first hous but i dont know if we will be accepted by lenders . We have a deposit aroud the £150 k mark ( will increase monthtly) and are intrested in properties in the region of £425-£450 k . Both are on desent salaries and make a combined £ 163 k per year . I think that a lender will…
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Guarantor mortgage on property
Does anyone know if you can get a mortgage with a flat you own outright yourself as the guarantor. I am renting myself but owned flat has been rented for years. I want a mortgage for myself have a good deposit and a salary but dont earn enough to get amount needed is this an option? As putting a mortgage on the flat would…
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Portfolio mortgages
Just looking for any advice on portfolio mortgages, as I know nothing about them. I own a few low value BTL properties and like the idea of having one loan secured over the whole portfolio, rather than several separate loans. Two reasons I find them appealing. 1). I could pay off the mortgage on my main dwelling. 2). I…
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Mortgage Lenders who will lend under the provision of debts being paid off after completion
Exactly as the title says really are there any mortgage lenders who would lend under the proviso that credit card debts would be paid off in full, with the proceeds of our sale so effectively we will sell out current home, make some profit, pay off current debts that can’t be paid in full without selling the home, then buy…
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HSBC mortgage application
Hello, we have been waiting for our buyers revised mortgage offer from HSBC for 5 weeks now. Is it usually taking this long if anyone knows. The service level says 14 w/d for application amendment forms but it’s been pass this timeframe. Our estate agent doesn’t seem to be concerned and they keep getting told that it will…
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How bad / negative re remortgaging is paying a settlement offer?
Hi. Summary: Brother has an automatic settlement offer from Capquest, 20% discount. He is tempted to pay it but has to remortgage later this year as his 5 year fix comes to an end. However, they state that this will go down as a 'satisfied with a partial settlement flag'....will this be a negative when it comes to how his…
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Help to buy - home improvements
Hi everyone I currently have a help to buy mortgage which I took out two years ago. We recently found out that we are expecting our first child next year (bit of a surprise!) and it has forced me to evaluate our living situation. Our current house is quite small (no surprise for a new build) and we will need some extra…
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Mortgage
Morning. I am moving house. Our house is up for sale. My mortgage deal with NatWest ran out so I got a MIP with first direct. But I would like to clear some debt and switch to first direct before I move house. It may take a while to move house. Can I go to first first and advise I don’t need to borrow as much atm but when…
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Declined mortgage twice due to flood risk but i'm not even close to a river or flood plain
so I've been turned down twice, Leeds and HSBC due to being a flood risk even though I am 16 miles away from the nearesr river. There has never been a flood in my area and i've lived here 40 years. Apparently the lenders have signed up to Hometrack, which provides survey data about properties. I have contacted Hometrack…
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Taxes on Italian property if already own a share of a property in the Uk
Just a quick question... Im British and my ex husband is Italian. We have a mortgage on a property here in the UK but he only owns 1% . He now wants to move back to Italy and buy a property there for himself. Hes also transferring his residency back to Italy. He is asking to be released from our mortgage here because (he…
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Buy to let stamp duty
Does any know what percentage of stamp duty I would have to pay if I sell a buy to let and buy another one using the capital. I am basically exchanging one buy to let for another. The property I would like to buy would cost me £17500 in stamp duty if it counts as an additional instead of £3500. I would be grateful if…
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LTV assessment queries
Hi, We are currently undertaking our first remortgage. Some queries as follows: 1) we initially valued at £290k and BOI pushed back and said £270k. Is this going to the exact same at all lenders (I.e. do they use the same database?) or could I justify £275k with a different lender? 2) Does the product fee need considering…
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Tax advantages, or not, of a large arrangement fee on a BTL mortgage
I have sufficient equity on a BTL mortgage to either pay a large arrangement fee which in turn gives me a very good monthly repayment, or a small arrangement fee with a small monthly reduction in my current monthly pay. I do not have the brain power to work out which is more beneficial to my tax position ? If I add around…
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Using a LISA towards an unencumbered mortgage on my partners house
Hi all, this is going to be pretty niche so please forgive me for the waffling! The crux of the question is can I use my Lisa towards a new mortgage being taken out by myself and my fiancé, against a house that she owns outright. My fiancé's parents remortgaged their house just under 6 years ago, when she moved to…
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Credit Use after mortague application or approval?
My partner and I are buying a shared-ownership home and have been offered a decision in principle for a mortgage
with Darlington Building Society. Since we are first-time buyers, we have never been through this process before for a mortgage. We are unsure about using our credit card or applying for credit when the mortgage…
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5 or 10 year fix?
Hi all. We would love a bit of advice please :smile: Our 1.47% rate is due to end in Dec. We currently only pay £282 a month with an additional overpayment of £118 making our monthly payment £400. We currently owe £54,700 and have 19y 3m left on the term so will owe less in Dec. House was valued at £130,000 in Dec 2023.…
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Selling one house to buy 2 ( one for rent)
Does anyone have experience of selling 1 house for 2? Example, house sells for £250k and buy 2 houses near each other for £110k each, live in one and rent the other? Also £30k leftover before fees. Thanks
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Using rent to pay another mortgage
Is this possible / feasible? I own a flat fully paid for & I could rent out to for about £1600. Could I buy a small house for about £120k and just use the rent on the mortgage ? Eventually the 2nd place would be paid for
