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First month of re-mortgage - how to avoid interest?
Hi, I'm coming to the end of a fixed deal (ending last day of the month, say 30th June, early repayment charges apply up to the very last day). Remortgage with new lender would therefore start on the next day of the following month (1st July), however the first payment is collected the month after ("We collect your first…
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Taking Lenvi / Help to Buy to Court?
Hi, I'm now having to refer Lenvi to the Financial Ombudsman regarding their handling of a remortgage request (without additional lending), and I'm starting to panic about the prospect of going to court, for an ever increasing sum of money. Back in August I started the process to change my mortgage, with my SVR kicking in…
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Mortgage extension current term ending
Hi, My current mortgage term with Barclays is coming to an end. I'm applying
for a term extension, i.e a remortgage with them.* Since this is an extension application, will the bank still
send a surveyor for this type of application? * I’m aware that the full amount becomes due on the mortgage
end date. What if the…
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Coming Off Fixed Rate mortgage – What Are My Options with NatWest While Unemployed?
Hi all, Our 2-year fixed rate mortgage with NatWest (currently at 4.99%) is coming to an end soon. I'm currently unemployed, while my partner is working, and we have sufficient savings to comfortably cover our mortgage and living expenses. We’re keen to avoid moving onto NatWest’s Standard Variable Rate, which will likely…
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Is shared ownership possible through only one partner?
Hi all, myself and my husband are currently living with family after our circumstances with renting changed. We are looking to get our own place, however at the moment I am not working as I am at home with our 18 month old son. We are looking into shared ownership and feel this would be the best route for us as first time…
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BTL Mortgage Rates
I borrowed a small amount (30k) against an unmortgaged BTL property about eight months ago, through a local broker that I have used before. I needed the money quickly, and didn’t give much thought to how much the interest only monthly costs were. I’m now doing an overhaul of my entire portfolio, and it would appear that…
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Equity release
Hi Can anybody give me an idea of how much Equity could be released from my property. It's mortgage free and it's current value is about 340K
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Porting to free up equity
I have a house that has increased in value in the past 3 years. It will sell for offers in excess of 200k, the remaining mortgage is about 163k so I anticipate around 40-45k of equity. I was thinking of buying something in the 180k region. My current mortgage rate is excellent at 2.5% locked in for another two years. im…
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Overpay after Mortgage Deal ends?
Hi all, I'll try to keep this short and sweet! We're moving country. So, we're selling our house. Our fixed mortgage deal (5 years, 1.56% rate) will be ending the end of May. When this happens, Halifax will automatically place us on to their Standard Variable Rate (which I believe is 7.99%). We have £154,000 left to pay…
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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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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…
