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Should my mum use her savings to pay off mortgage?
Hi all and hope someone can help. Thought I’d ask here first for any pointers or perhaps someone has already experienced what I’m about to ask. My elderly mum (93year old) is looking at paying off her existing mortgage and has me to look into it. She has 7 years left on it but has decided now that she’d like to pay it off…
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Calculating ERC
I have a mortgage with Nationwide. Full 25-year period expires November 2034. Current deal is a 5-year fix from Feb 2024 - January 2029 at 3.99%. (Balance at start of fix was about £20300). Current balance is about £13K as a result of lots of overpayments. Currently overpaying £150 a month, working on the basis of…
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Which income will a mortgage lender accept
Hi all, my partner is starting a new job in July, its very well paid but his pay isn't straight forward. He will receive additional payments in addition to his basic pay and my understanding is that lenders do not always accept this. We have a mortgage already, shared ownership. In 5 years we have only paid off £12,000 -…
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Remortgage
So I checked how much I would be to remortgage and I’d only save £12 pounds. I don’t remortgage for 3 years but why has interest rates fallen so much but the rate remains 4.26%? I done the value of my house currently rather than what I paid for it.
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IVA/CCJ/Defaults mortgage
Hello, I’m looking for advice as I have recently cleared my IVA (includes CCJ) and I have been looking at shared ownership properties. I have been told by all the finance companies I have contacted that I have to wait till it’s been cleared for 3-6 years. There must be something out there I can look into. I’m not in a…
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Need advise for Mortgage to help a Parent Move.
Hi, This is a slight reversal on the bank of Mum and Dad. My Mother is looking to move much more locally to me. She has seen a place she really likes but doesn't have quite enough to buy it and to do work needed on it. Iam happy to get a mortgage (sub £100k) against my property, which i own outright , to then give to her…
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Change of borrower
2 years ago I purchased a home and for affordability my son was on the mortgage and also the deeds. My son has decided to move out and get his own place. I have met the affordability and can now have the mortgage in my own name ( I made overpayments). I am staying with the same lender and have the same rate for another 3…
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Board payment as addditional income
I am trying to get a mortgage in principle for the property I am presently living in. My landlord wants to sell. Can i use my sons £300 a month board payment as additional payment for my income, its shown on my bank statement every month. To help me get more money on mortgage. Thanks in advance for any help
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Old Abbey National Mortgage Account (now with Santander)
Has anybody successfully managed to deal with Santander regarding an old Abbey National mortgage from 1969, that was paid off late80s/early 90s, but would appear Abbey National did not issue a vacating receipt? We are unable to register the house with land reg as there is a legal charge, and this is holding up the house…
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Santander
Hello everyone, I’m currently facing a frustrating situation with my mortgage application at Santander. I applied on May 2nd and was initially offered £213,400. After providing additional documents due to a pay increase, I was told the maximum offer would be £310,300. However, I’ve recently received another update stating…
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Remortgage, worst case?
Good evening, I am currently on a tracker mortgage, my fixed rate finished at the start of the year, but didn’t increase much so left it be until now. I want to put a conservatory on the house, so looking to remortgage and add the cost of the conservatory style built onto the house at around £8000. My worry is, my wages…
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Where to store remortgage extra money for home improvements?
Hello, I am currently remortgaging and borrowing extra money to do some home improvement works. The works will take months to happen and to pay in invoices so for a while I will have alot of money to store. (Well alot to me!) Do I put it in a savings account? Premium Bonds? ISA? Current account? I have a savings account…
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Removing one person from Help To Buy HTB mortgage and property
Hello MSE Forum, I hope to be able to find some guidance here as it seems to be a tricky subject. My now estranged husband and I purchased a flat using a HTB mortgage. We've agreed he shall be removed as owner from the property and be removed from the mortgage, too, because all the capital for the downpayment was my own…
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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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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?
