-
Pay cut advised - Need mortgage - Do i tell?
Hi all, I am about to offer on a house, been approved for the Co-op Ownhome scheme (equity loan like MyChoiceHomebuy). A few days ago i was told i would get a 10% pay cut at work, to take effect in 4 months time. I would still easily afford the mortgage payments, but I am worried that if I tell the Co-op about the looming…
-
Should I redeem mortgage
When my parents passed on my brother and I inherited their house which we rented out with a mortgage - fixed 4.74% - another year to go I think. It's a joint mortgage with mortgage express who are offering to waive early repayment charges. I had paid off the flexible mortgage on my residence but let the facility so have…
-
Offset mortgage with large savings pot
Can anyone help resolve this issue please :confused: We have an offset tracker mortgage with Intelligent Finance currently paying a rate of 1.79% (great rate I know) Is it worth me & other half using our ISA allowance and taking money out of our savings pot with Intelligent Finance to earn more interest elsewhere. We…
-
Principality process
Hello everyone - first post! We are in the process of buying our first house and have applied to Principality. We have "passed" a credit check apparently but am wondering what the Principality process is- do they survey first and then underwrite or vice versa? Just a bit nervous with all the horror stories going on, we…
-
After survey, what steps remain to complete mortgage?
Hi, Last November we remortgaged to First Direct. They were inundated at the time and shortly after we applied they stopped any new applications as they were so busy, and they quoted us up to 12 weeks to complete the remortgage. In practice, it took just 4 weeks which was great - we already banked with them which no doubt…
-
Another question
Hi Again guys Another question, dont know if it can be answered or not?:confused: We had an Aip from A+L (I know that this is no garantee of getting the funds) They have asked for no extra information from us apart from the basic information submited with the broker (No pay slips or proof of earning, or bank statements) We…
-
Where to get ball park figure from
Hi everyone. I'm looking for some advice. My divorce solicitor has asked me to go and see somebody to get some idea of how much mortgage I would be able to borrow, given my salary etc. I would be an FTB with a decent deposit but not a huge salary. Where should I go to get a quote or two, and what info will they need from…
-
First time buyers advice
Hi, my partner and I are looking to purchase a property in the region of £170000 -£180000. We currently have £20000 as a deposit are we likely to A) get a mortgage offer based on these figures? B) get a reasonable rate of interest? Also this current deposit figure is based on paying off an outstanding loan, if we where to…
-
New Mortgage deal - Advice please
Hi All, I’ve never posted on the Mortgage Board before so I hope you all don’t mind giving me some advice, sorry if the posts a bit long. We have a fixed deal with First Active that is about to come to an end. 5.85% £650 a month. They have offered us another deal fixed for 2yrs at 3.65% with a £699 arrangement fee, this…
-
Need Help, should we sell our endowment?
Hi, We have got a With Profits Standard Life endowment which matures in jan 2013, If we cash it in we will use the money for a conservatory, as we now have a repayment morg. Target was £18,995 cash in value 1st feb £9,425 Minimum payout £10,810 MEP between £278 and £417 or nil 3.75% £11,300 5.50% £12,100 7.25% £12,900…
-
First time buyer, Buy-to-let, No/Low income??
Hey folks, Thought this might be a good question on money saving expert due to the high amount of people who use this site, Firstly, I am a 23yr old male looking into first time buying a property on a buy to et mortgage, But. . . I am self employed and i do not have a reliable and stable income, as is stands i dont really…
-
first house, is it possible?
house value 125000, entry level in this area. age 30 income 18k savings 7k debts 0 3.5 or 4 Xs income gets me nowhere near. But, have paid £400 per month rent for past 2 years, does paying rent prove ability to pay mortgage? inherited some land valued at 25k, can this be used as security? i do not want to sell it. parents…
-
First Time Buyers
Hello, Me and my partner would really like to get our first mortgage this year but unfortunately we are unable to get a 10% deposit together but can get a 5% deposit, are there any decent 5% mortgage deals around? Other than the Lloyd's one recently announced as unfortunately my family don't have masses of savings to put…
-
Aip
Hi, we have been given an AIP, on the amount we want to borrow yesterday, however we were told we need to send the last three months payslips , and should not be overdrawn on them ,,my husbands are fine ,however i have been overdrawn on all of them ,,does this mean we will not get the money ,thanks jade.
-
Mortgage repayment or wait....?
My partner has just been made redundant, his package will now enable us to pay off our £42,000 mortgage and leave a little as savings. As he is now nearly 61 this is an early retirement. I will continue to work for a while and I earn enough to cover our living expenses so he will be able to leave his occupational pension…
-
What sort of interest rate would we get?
We're looking to buy in the next 6-12 months, so obviously rates will have changed again by then, but I was just wondering what current details are like to help us budget: Deposit about £100k. Looking to borrow £150k-£190k (so total budget £250-290k). Salaries £45k and £48k. We'd be looking for quite a long fix - 5-7 years…
-
Halifax/BOS Home Loan Rate?
Hi I have had a 3yr fixed rate with Bank of Scotland, which comes to an end next month. They have just written to me to advise me that when it ends I will join their standard variable rate, but it's not exactly what I was expecting! They have said I will move onto this: Type of Product: Home Loan Rate (standard variable…
-
Mortgage Times/Vision Network
Hi Mortgage Brokers of the World! Heard that Mortgage Times/Vision Network are on the verge of administration? Anyone shed any further light on this? Thanks in advance
-
Buying First House????!!!???????????????
Hiya, My partner and I are going back to University in september, we are intent on both working around 24 hours a week whilst at university as our courses are 3 day a week. We have managed to save £4000 as a deposit on a house which is on the market for £24,000. What we are wondering is will it be possible to mortgage this…
-
Mortgage repayments
We'll soon be moving into our first house and have all the mortgage setup etc. We're planning to move in on the 25th June. When will the first mortgage repayment be? and when do we pay the mortgage setup fee?