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Mortgage affordability checks - commuting costs
I wondered if anyone had any experience of the following please. During mortgage affordability checks, what if current commuting costs are significantly higher than what they would be in the new home? Was it enough to explain this to your broker please?
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mortgage prisoners and unregulated mortgages - class actions
unregulated mortgages - could these be defined as 'mortgage prisoners' - to MSE and Martin Lewis : are their any CLASS ACTIONS other than the Northern Rock and Bradford and Bingley actions- that might help the thousands of customers on these products? if so which legal teams are they?
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Equity release to purchase property
Afternoon all Not urgent for now and probably won’t happen soon - if at all - but at some point down the line I am anticipating a family member needing some general guidance on how best to purchase a new property. I think I can say with some confidence that renting won’t be an acceptable option. In simple terms, can…
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Mortgage Application with Leeds BS
Hello, About to submit full application with Leeds Building Society, who we have an AIP with. They are only asking for 1 months bank statements and 1 payslip each. Doesn't seem like alot, will they just come back and ask for more? Should I just submit 3 now? Anyone else been through them recently? Did they ask loads of…
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The mortgage lender- remortgage
Has anyone remortgaged with the mortgage lender. There would be no changes or additional borrowing. I know a broker has to do this for you, what do they charge. Is there any affordability checks or credit checks? thanks
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Is mortgage and council tax at 42% of income too high?
Hi all. Bit of a complicated one (for me anyway). Currently have my own mortgaged flat and looking to purchase a house with my partner who is currently renting. We have found a house that ticks every box. However, the price and percentages on my end are concerning me. Currently my mortgage and council tax are 17% of my…
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Interest only mortgage rolled on without resolution
This is a complicated one but anyone with similar experiences? My dad (72) was sold an interest only mortgage on the house he owned with my mum in 2011, for £108k. It ended in 2021 and since then he’s just made the payment every month by standing order. They’ve got in touch a few times to ask how he proposes to settle the…
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Nationwide: additional borrowing
Hi Im looking at borrowing £30k against my home (£300000) we have the existing mortgage with Nationwide. when I'm looking on NW mortgage page and going through the application it wont let me have the additional borrowing for a longer period than the existing mortgage. surly this would be a new product,,, so would be stand…
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Remortgaging soon! Chances of mainstream?
Hi all When purchased in November 2023, I was on probation for new job so it limited our lender options and ended up at Kensington. Now as we look to remortgage later this year, our home value should be around 320k with equity of approx 75k and a combined income of £105k. Couple of car loans totalling 560 p/month, loan of…
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2 year fixes now cheaper than 5 - what does it mean?
Ever since Liz Truss, many banks have offered 5-year rates significantly lower than their best 2-year. My interpretation of this was that the banks were predicting that interest rates would fall. In the last few weeks, though, banks have started prices 2-years below 5-tears again. Eg Yorkshire’s current best 2-year…
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Halifax: Credit Check after Cerificate of Title
Halifax Final Credit Check - Certificate of Title I am at the final stages of buying my home. Deposit paid - valuation done - move out day set - contracts signed. From what I understand, Halifax complete a final credit cheque before releasing funds. This email chain happened with my solicitor today, does this suggest…
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First time of remortgaging
Hi everyone, we’ve been homeowners for 15 years but due to house moves and the use of SVR, this is the first time we’ve actually had to remortgage to get a new deal on the same house. We’ve accepted that our payments will be taking a jump, as we are currently at the end of 5 years at 1.84% sadly. We are currently paying…
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Proving source of funds
Hi, I’m a first-time buyer in full-time employment, and I have a mortgage offer from a lender who is satisfied with everything. I’m currently in the process of purchasing a property, but my solicitor has been incredibly slow and, frankly, incompetent. After more than three and a half months, we’ve only just reached the…
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Lender asking for gifted deposit declaration for money not part of deposit
I am in the midst of a mortgage application. My mother has gifted me the deposit, proof, letters and gifted deposit declaration has been provided. Prior to application, I had a large savings account for my Wedding fund. There has been money deposited into this account by myself, my partner, my mother and my grandfather. I…
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FTB NatWest timeline anyone?
As the title says - anyone else applied or applying with NatWest recently? Just curious on the time lines 🥰 have DIP and full application being submitted tomorrow. thanks
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Paying back a loan AND REMOVING A CHARGE FROM MY HOUSE
Hi I borrowed money from my friend to buy my house. Together we put a charge on my house to safe guard her. I am now taking out a bridging loan and will pay her loan back out of this money. The broker states She needs to provide a redemption fee letter and agreement she will remove the charge from our house. The broker…
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Yorkshire BS remortgage
Hi all, What are peoples experiences like recently applying directly with Yorkshire Building Society? We are currently remortgaging and they are offering the best product on the market. However the broker we was going to use said their application process is quite painful/paper based - however not sure if they’re just…
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Accord Mortgages Timeline
Hello, My broker submitted a full application with Accord in the 2nd Feb. The valuation was completed on the 5th Feb. I think this was a desk top valuation as it came back fine the same day and the estate agent didn’t have a clue. I was asked a few questions about some transactions on my bank statements on the 5th Feb and…
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Applying for a Mortgage when 50% job cuts are on the horizon
Hi All, The organisation I work for is being abolished and merged with another government department. Wes Streeting has announced 50% job cuts but nothing formal has happened - I have not been placed at risk or anything like that. Under the circumstances could I still apply for a mortgage or is there no chance? I have…
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Can you join with a friend to go half-ers on a mortgage?
Giving each other 50% of the home? One of us (say me) will live in the new place until it's paid up (possibly even after that but who knows). Looking at a relatively low value property say £120k Thanks Paul
