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Retirement Interest Only Mortgages
We are in our late 50's, we have no dependants and therefore no one to leave an inheritance to. We are trying to find a lender willing to provide an interest only mortgage to allow us to purchase a new home without dipping into our ISA Savings Pot. Keep finding only Equity Release options. Any help gratefully received.
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Mortgage with old default from same banking group?
I’ve had some defaults fall off my credit file in the last few months from a messy divorce back in 2018. The last falls off this month. It was an MBNA/sold to PRA debt. I have my current account with Lloyds. My decent savings are with Halifax. I am taking a re-mortgage out (after the default is off). House worth 230k and…
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Gambling and mortgage advice
Any judgement free advice would been greatly appreciated ! Have got gamstop/self exclusions in place now and didn’t stop gambling in order to purchase house, I sought counselling and have not returned to the habit since. Respectfully, I am not asking these questions wishing to be schooled on the dangers of gambling and to…
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Occupiers consent form
We have hit a (slight?) problem. Our lender want our adult children to sign a consent form. The problem is children all have special needs and lack capacity to understand what they are signing. Two have learning difficulties with the youngest being unable to read or write. Our solicitor is trying to sort this out, but now…
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Leeds building society timeline?
Anyone recently applied with them? FTB, broker sent in application with them today 🙏
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Remortgage to fund 2nd property
I really want to buy the house next door to me… ideally to have as a property for us to live in and expand. We would go from 3 beds to 6 and the land next door is amazing. We have 6 dogs so the more room the better! I currently owe £58k on my mortgage. I would say there £80-100k equity in the house. Next door are asking…
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Credit application before completing on BTL mortgage
Hi there, We have a BTL mortgage application just underway that hopefully will complete in about 2 months. On the other hand, we have some renovations going on and would benefit from putting some staff on a 0% credit card (Did not apply for credit before the BTL because this was and still is our priority). Are credit…
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Full repayment of Equity release mortgage issues
My partner's mother passed last November leaving an Equity Release mortgage. Probate has been granted and we now want to repay the mortgage. We are using a solicitor. However, there have been delays getting the final repayment figure. More2Life do not respond quickly. They were due to provide the repayment figure last…
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Best way to help MIL but also protect ourselves
MIL (in her seventies) has found herself on her own and needs to sell her property. Once it's sold she may come out of it with around £70k so obviously not enough to buy somewhere outright and won't get a mortgage. We are trying to come up with a way to help her but also not end up in a tricky situation ourselves. My…
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BTL Remortgage Query
Hi all. I did post a questions about this scenario in the credit file section but I think I'm best to post here for some guidance. My Wife (financially associated with me) has a CTL mortgage on a flat valued at £65k, £40k outstanding mortgage, currently with BOI on SVR. She would like to remortgage this to another lender…
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Maiden name on HMLR Register - stopping remortgage?
Basically - HMLR shows wife's previous name. Mortgage company solicitors says we can't remortgage until details are updated but that'll take a long time. Our fixed mortgage is ending in June. The solicitor spotted that my wife's maiden name is on the HMLR records as we brought the house before we were married. We've just…
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Mortgage shortfall
My home was repossessed in September 2013. The shortfall has been sold to hiyalite who are now chasing me for the arrears. Do I have to pay them
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Proving identity for equity release
Hi My 80+ yo Mum has decided to release some of the capital in her home through the equity release route. She has hit a complication because the first name she is known as and is on some of her documentation, is not the first name that appears on her birth certificate. This is an informal change, not official. The…
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Mining report impact on nationwide mortgae
Hi all, we have already had our nationwide mortgage offer issued last week (22 July) but my solicitor ordered a mining and subsidence survey to be completed in June which found former mining in the area and man-made cavities in the area related (we were already aware that the property was in the area of previous mining…
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buy to let mortgage
For the last 20 or so years I have had a interest only buy to let mortgage. I have always paid the exact amount that the lender requested. However the amount I borrowed has now increased buy an extra 9 thousand pounds. How can this be right?
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Getting a mortgage with a default
I want to know how the default system works on credit report as I have a default from August 2019 and it's been put on my credit report that I defaulted consistently for another 20 months which I will contest however under default date it says 7 August 2019 Now my question is will they take all of these defaults into…
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Expecting a reduced mortgage offer. Options?
We're in the process of applying for a mortgage with Leeds Building Society. We need £415k, but broker says they are currently looking to offer around £340k due to the below reasons; - They aren't happy that my bonus is split into multiple payments across the year, so are only using half my bonus in their multiple. This is…
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Remortgaging - Porting/Additional Borrowing
Forum newbie here looking for some advice with remortgaging. Let me know if any more info required. Current fix is due to expire in June. £320,000 on a 34 yr term. Have been looking around and in touch with brokers about securing a remortgage. Hoping to get a bigger/more expensive place within 18 months so assumed I’d have…
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Proof of Deposit - Bank Statements
I’m starting the process of buying a property in the UK and have a question about proving the source of my deposit. I work full-time with an average salary of £3,500 per month, and my wife is self-employed with a net income of around £1,000 per month. We are able to save £2,500 from my salary each month while covering our…
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Using a LISA for a joint purchase - leftover funds?
I currently own a flat which will (hopefully) have about £160k equity in it when I sell up. When I do, my partner and I would like to buy somewhere together. He will have about £20k in a LISA to put down as a deposit. We reckon the property we buy will be around £350k in which case the plan is to get a mortgage of around…
