-
Coventry Lending Criteria - Latest Year Net Profits Where Big Difference from Last Year
Hi, One for the mortgage brokers please! We are looking to take out a new loan with Coventry BS. I am a Director of own ltd co and they are one of the few lenders who'll consider most recent year share of net profit before dividend and corporation tax when looking at affordability. According to their lending criteria,…
-
Remortgaging to Move Home
Hi, We will be coming to the end of our five year fixed-term with Santander in January 2026. We are considering remortgaging to borrow more in order to pay off our HTB loan (worth 20% of the house value) and to upsize from our current property. If we were to remortgage six months before our term is due to end, would we be…
-
Declaring spend when borrowing more money
I've built up some decent equity on my house and want to dip into it to borrow some more money. My current provider wants me to state what the money will be used for. A large proportion of it will be to consolidate other debts and then the rest will be spent on home improvements. However, they state in the application that…
-
HSBC Remortgage Rate - Might as well go on tracker?
Renewal is due June. Mortgage is currently 165k 4.28 2 Year Fix. 35 Years. I overpay regularly. 2 Year Tracker available is currently 4.99% 2/3 Year fix is 4.4%ish. Both £999 Fee. If I renew the tracker now, and set a switch date of June. It is 0.24% above BOE currently. So I anticipate will be potentially 4.25+0.24 by…
-
Mortgage DIP's AIP's
When looking at your ability to borrow/affordability how guaranteed can your DIP be ? We have had a offer accepted and now just waiting for our vendor to get an offer accepted. I'm now just possibly overthinking the mortgage. My main concern is I'm self employed (with 20 Plus years history), but all I hear is "SE ,oh that…
-
Early repayment advice
We have two mortgages and I think doing any early payments on the bigger mortgage will be better off in long run, any advice welcome. Mortgage A: This is our residence, approx 140K left, 4%, remaining term 14 years Mortgage B: Rented, approx 40K left, 4.5%, remaining term 9 years.
-
Barclays 'overpayments balance' mortgage
My wife and I are 4 years into a 35 year mortgage, which started at £240,999 at 2.99%. We've been overpaying for awhile now, both lump sum of 10% and monthly overpayment. I've just got our latest revised payment notice, as we've increased our overpayment again and I wanted to check my understanding of something. The…
-
Can I avoid early repayment charge if I take out a new loan with same lender?
Hi all I have a loan with TML and a hefty ERC which doesnt expire until 2028. I am looking to buy a new house and cannot port my mortgage unfortunately however I could take a new loan out for higher amount with the same lender (TML) Is there any way I can get my existing lender to agree to waive the ERC if we take out a…
-
pension/LISA in lieu of principal?
Hello, I have just started a mortgage, but a couple of things has just occurred to me
* an MSCI world tracker fund is very likely to outperform savings over the time horizon of a 25 year mortgage * stocks and shares can be bought with an effective 25% addition (in the case of a LISA) and 66% by adding to my pension. The…
-
Mis sold Barclays Sam’s Mortgage
Has anyone else been mis sold a Barclays Sam Mortgage? Around 15 years ago my mum and her partner went to Barclays to arrange a 15K loan, however they were quickly talked into taking out their Sam’s Mortgage with the idea that they wouldn’t have to pay the money back until they had died. So an agent went to my mums…
-
Mortgage with defaults
Hi, I posted on another area previously. I have seven defaults just being registered totalling £15,000. Not something I'm proud of but I struggled work wise to maintain a job I was happy with. I had to make the decision to put myself first. I have a flat which is worth £220,000. Only had a mortgage of £39,000! I want to…
-
Tenants in common
Hi, My partner & I bought a right to buy council house with 50% discount, we have it as tennants in common, unfortunately my partner passed away earlier this year & has left his share to his son. His son wants me to buy his 50% share, there is still a mortgage on the property & a pre emptive clause with the council as we…
-
Santander online servicing of flexible mortgage
I see Santander are the latest to revamp their online servicing, breaking their systems in the process which means I can no longer make transactions online. Why don't IT departments test their work before it goes live?
-
Let’s Fix Again…
What are people doing at the moment with remortgaging? Three years ago I fixed (and by god I wish I’d fixed for 5 or 10 years but I know if my gran had wheels she’d be a bike etc). Now I’m up for remortgage with a 55% LTV and I have no idea how long I’ll be living here but in all likelihood at least three years and maybe…
-
Preserve accumulated ISA when buying a house
My wife and I are currently renting and have just over £1m in capital that we we would like to use to buy a home next year. About £400k of that is in ISAs that we have built up over the years. We need to use all our money for the home purchase (London!) but I would like to preserve the accumulated ISA wrapper. I’ve looked…
-
Remortgage - standoff - any advice appreciated
Hi, I’m currently 4 months into a remortgage where part of the objective was to clear the remaining help to buy and consolidate some debts. After 4 weeks of referring to an amendment with the lender, finally the solicitors have now provided further detail. The lender has made it a condition to pay off the debts first…
-
What are my best options regarding a mortgage?
Hi everyone! I'm wondering if anyone could help me figure out what my best options are for moving home. I currently own a home with an ex. We joint own it, so when we sell it we will be splitting the profit 50/50. At the moment it looks like my profit will be £70k. Potentially a little bit more, but let's just say that. I…
-
Separating from partner - mortgage situation
Hi all, I recently found out that my wife has decided to pursue a relationship with another person. Currently, my wife and I are still living under the same roof with our two young daughters. The house is mortgaged under both of our names, and we have only a joint bank account where all our wages go in, and all the bills…
-
Undischarged paid up mortgage with Abbey National
We are currently trying to sell our house we bought 40 years ago but registry check by lawyer indicated our mortgage (paid off decades ago) had never been discharged. Our lawyer has told us we need mortgage account number to have it discharged but hours on the phone to Santander (who took over Abbey national) plus a…
-
Is there a chance this will cause mortgage offer to be withdrawn
I've recently had a mortgage approved with Nationwide but 20k of the 25k deposit required is coming from Gifted deposit which was not mentioned on application. Solicitor have just informed me that they need to seek approval from Nationwide for this. Gifted deposit is from family member and solicitor is happy with…
