-
Leasehold surprise bill for invoice from 2022!
To my shock, residents and i received an invoice for circa £350 for additional costs incurred from 2022-2023 a week ago out of the blue. Being aware of the 18 month rule (section 20b of the landlords and tenants act) and having no prior warning for this, are we legally obliged to pay? Not to mention the company sending out…
-
Mortgages
Hi all, Can anyone recommend amortgage broker please especially one that think a little outside the box ideally. Thanks, Louise
-
United Trust Bank
Does anyone have any experience with UTB for mortgages? I’m just wondering how forgiving they are with sub-prime applicants and what kind of rates they are likely to offer, if anyone has been made an offer through them. I appreciate this depends on individual circumstances but a rough idea would be good. They have been…
-
Want to move, but to avoid being in a chain I want to remortgage so I have the full cash available
I've tried looking online for this scenario, but only seem to come up with Buy to Let advice. I'm fortunate enough that I may be able to pay off our mortgage soon, but I also want to move house in the future. What I want in regards to moving, is rather than getting into a chain and all the chaos that comes with it, is to…
-
Equity release
what happens when a man is forced to leave his home and move elsewhere due to equity release taking the property back
-
Charge Notice on Property - Drydens Law
Hi All - I am new to this site - nice to meet you all. Not sure if I am in the right category, so apologies if not. Just looking for a bit of advice, if possible :smile: My son received a letter regarding a large charge notice on a house he inherited from his late father. His dad must have had a loan secured on it from…
-
Lump sum overpayment when refixing
My current mortgage deal is expiring at the end of the year. I have already maxed out my overpayment allowance. I have around 100k that I would like to pay off the mortgage before refixing. My current lender (natwest) has decent rates so will most likely stay with them. I wondered if anyone can advise on the process of…
-
Mortgage for 74 year old on shared ownership house?
Morning helpful people! The subject line pretty well says it all. I'm 74, living in social housing which I hate with drug taking and loud bang bang music all day on one side and a car graveyard on the other side. I'm pretty tolerant and we get on fine but having had a clean bill of health at my annual check up the other…
-
Equity Release
Hi all, could do with a bit of advice please. We’re looking into releasing some equity (poss £60k) from our house. I’m assuming a remortgage rather than equity release scheme would be best/cheaper? This is opposed to downsizing as we like where we live. What would be the best type of mortgage to get & how long should we…
-
PCP vs loan
Hi, I have taken out a PCP for a car. I'm tempted to take out a loan to then cancel the PCP agreement and pay it off with that loan money. Reason being, the difference in interest is about £1800, albeit the loan is 7 years and PCP is 4. Plus I got a dealer deposit plus free servicing with setting up the PCP. My question…
-
Retirement Interest Only Mortgage
Hi - we have recently paid off our mortgage but want to help our son and his partner with a deposit for a house - they are first time buyers. Our initial intention was to downsize and give them some money from the sale but due to a few issues this will not be happening for a couple of years. I’ve been looking into various…
-
Having trouble getting my head around the "Max 10% of balance" overpayment rule
Have to say maths has never been my strong suit! So I am allowed to overpay a max of "10% of your outstanding balance each year". Say my balance is £70,000... so in year 1 I can pay a total of £7,000 and it doesn't matter how I split that per month? I can just divide it by 12 and overpay £583 a month..? And then after 12…
-
Pensioner's interest only mortgage term ending with outstanding balance
Hi all, Looking for some advice on how to help my MIL. She and her partner have an interest only mortgage. It has an outstanding balance of approx £19k and ends this year. My MIL is a pensioner and only has her state pension as income. Partner has no income but house deposit came from his inheritance so mortgage in joint…
-
100 LTV with recently finished IVA
Anyone know if there's a mortgage product to suit this scenario please? No deposit so 100% LTV required Sole applicant that has just completed an IVA via full and final settlement Mortgage free house owner guarantor available
-
Right to buy / IVA on file
Unfortunately i took out an IVA just under 6 years ago (it would end in October after 6 years) but i borrowed money from partner to pay it approx 6 months early because i put in for the right to buy on my council flat before the change in rules at the start of the new tax year. The right to buy price has come through at…
-
Buying an inherited house via a limited company with a mortgage to buy siblings out
Hi, I placed an original post here that outlines the situation I'm in. The short of it is I am the Executor for my late mother's estate and want to buy my siblings out of the inherited house but via a company to avoid the 40% tax I would face due to being over the higher tax threshold earnings from my day job (replacing it…
-
How much can we borrow
Hello, We have 2 properties at 225k, one resi and one BTL. 45k in the resi and 80k equity for BTL. We have 55k in debt. (35k) on refurb for BTL. Combined salary of 100k, plus 2 years of accounts for the BTL 20k an annum. If we sold our resi, how much could we borrow with the debt in mind? Also, I’ve been told that we can…
-
Reduce term or over pay
I have 20 years and 6 months left on my mortgage, I owe 77000. I'm due to remortage in October but I've done the maths and I can figure out which is best to reduce my term to 15 years making my monthly mortage 560 and over paying bringing it to 650 a month, or remotage for 20 years making my monthly payment around 441 and…
-
How difficult to get interest only residential
A bit of our circumstances: Late 30s couple, combined income just over £100k, property worth about £550k, mortgage would be about £250k. We have been able to save a fair bit until now (therefore the equity), but now expecting a baby, so would give us peace of mind to keep our monthly bills as low as possible (don’t think…
-
Mortgage Reversion??
We have a house valued at approx 350k with 70k approx mortgage outstanding. I am 72 and my wife is 52 both of us are in full time employment. My wife and I have split up recently and the house is in my wife's name, we've agreed that I should stay in the house for now...she has moved to a flat. We bought the house in 2019…
