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Mortgage In Principle
Advice needed please 🙏 our situation 56 & 57, 1st time buyers, deposit £85000 on a home of £160000, we are currently paying £125 per week rent 1 full timer worker on minimum wage and a monthly pension on £270 net, we are struggling to get a MIP? Tried Halifax & Nationwide but can’t get approval, worked 15 years in this one…
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Mortgage deal ending roughly same time being made redundant - is this mortgage fraud?
I'm looking for a bit of advice regarding what to do with my mortgage. My
five year fixed deal is due to come to an end in September and my monthly
payment is going to increase by ~£450 as it reverts to the lenders SVR. During
the pandemic due to my OH losing their income we built up quite a bit of credit
card debt, so…
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How long do you have to be at a job before applying for a mortgage?
Ballpark figure please. I just got stuck on getting a decision in principle and I think it was because I’ve only been at my job four months. There must be a rule of thumb?
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concessionary mortgage
I have a second house valued at £525,000. It has an outstanding mortgage of £130,000. I plan to sell this house to my special needs son for £130,000. He will need a mortgage of £110,000 and he'll put £20,000 in himself. QUE - His income is plenty to get a mortgage of that amount. Is it that simple. He has excellent credit…
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Mortgage declined twice with no reason given
Hi All, I am to MSE and I really need some advice on how to proceed in my current situation for a property that I want to purchase. I had an offer accepted on a property and I engaged with a broker to go through the AIP and submit a formal application. At the this was with L&C who submitted an application on my behalf. I…
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VirginMoney BTL remortgage - quickest application route?
I'm looking to make a BTL remortgage application through VirginMoney which will include some additional borrowing (let to buy on current home), a little top slicing is needed hence going with VM. I called them today to complete the application to be told I would need to wait 6 weeks to speak one of their specialist BTL…
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Help to buy redemption worth it?
Hello everyone, I am getting near to my 2 year fixed mortgage term and now in a position where I can pay back HTB loan by remortgage. Just to give you a bit of back ground, I bought my apartment for £285k with 35% HTB (£99.75k). It was a new build apartment and unfortunately the value has not moved much. I have seen…
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Halifax says my credit file is locked but I don't know why
I'm in the process of waiting to complete on a house purchase in the coming weeks. My broker called Halifax to make a change to the house price and mortgage etc. and was told they couldn't access my credit file because it's been locked. The only thing that I have changed on my credit file is that I opened a dispute with…
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Nationwide - future earnings
I was made redundant a year ago and lived off (a healthy) redundancy package for most of this year while looking for a new role. I've secured a job that starts next month and I also have a remortgage coming up. I won't have payslips and/or earnings being paid into my account for this past year. My broker said I could…
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Take out more mortgage so we can keep our ISAs?
We are looking to purchase a property. We have 120k in ISAs
that we were planning on using as part of the deposit. Would we be better to
leave this in the ISAs and take out more mortgage? We are both higher rate tax payers so it really helps not paying tax on the interest we get from this money. We would easily be able to…
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Pay off mortgage now or wait?
Current situation: We're currently on the market, not sold. We will need a larger mortgage for wherever we end up buying. Our currently mortgage is fixed until 31st August at 1.72% after which it will revert to the standard variable (currently about 7%) until such time as we move. We have cash set aside to reduce the…
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Will activating the mortgage charter reduce the mortgage offers my bank offers me when I renew?
I am an ultra low rate repayment mortgage which expires in September. Right now I would like to take advantage of the mortgage charter to free up some extra cash as I am still refurbishing my home. I also do not want to lock into a new mortgage deal until August as interest rates are anticipated to fall further. My bank…
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Mortgage & Credit Cards
Hi folks I'll be applying for a mortgage in the next 3-6 months and was wondering whether my credit cards will impact my ability to get a good deal. My salary is £39k and I'll be the sole applicant. I've been told that too much credit as a proportion of income can scare lenders? I have 4 cards: Lloyds: Limit: £10k.…
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Which Broker for 1-Year Fix?
MSE’s comparison tool shows a broker-only repayment remortgage deal from Halifax that’s categorised as ‘1 YEAR’ and ‘FiXED’ (ending 31 Dec 2026), but Mojo—apparently a whole-of-market broker—cannot see it. Does this mean the deal is only accessible via specific brokers?
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Loughborough Building Society
Hi has anyone got any reviews or recent timescales with Loughborough Building Society? Just curious to how they work and my broker isn't the speediest at getting back to me so need some ideas? Do they underwrite first and then instruct valuation? I have submitted all requested documents after going back & forth, the…
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Offset mortgage and a studio
Hello, It feels I've reached the end of the road. I'm looking for a fixed repayment offset mortgage and for a studio.For starters there aren't many offset mortgages, and secondly the ones I found don't do studios (well except more than £500k ones). I've got NOs from YBS, Coventry, Accord.I've knocked on other doors but…
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Accord Mortgage
I am currently going through a mortgage application with Accord. Today its the first day they came back asking 2 questions about my bank statement and also one more question about how much is my cc balance currently. how do you think its going? If they had any more questions would they have asked everything today or can…
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Overpayment ERC VS Savings
I have a mortgage with Halifax which has around 8 years left, I have 3 years left of my current 5 year fix. I have made the maximum overpayments for the year, Halifax have very annoyingly reduced my monthly repayments to almost half what I was already paying and want me to sit through a sales pitch to discuss reducing the…
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Further advance and second charge
I have a mortgage with Santander and 5 years later took a second charge loan on the property. I'm looking to take a further advance with Santander, and told I have 2 options: 1) Get a deed of postponement from the second charge lender. Does anyone know if this gets registered/reflected in the land registry? 2) Consolidate…
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Ex put no deposit down and paid no monthly payments
Hi Guys, wondering if you could help advise. My ex and I at the time were about to have a baby so we quickly rushed into buying a house. I put the deposit down for the house and payed all the monthly bills including the mortgage. We split almost a year into being at the house together and now have been apart for 7 years. I…
