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Help to buy - home improvements
Hi everyone I currently have a help to buy mortgage which I took out two years ago. We recently found out that we are expecting our first child next year (bit of a surprise!) and it has forced me to evaluate our living situation. Our current house is quite small (no surprise for a new build) and we will need some extra…
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Mortgage
Morning. I am moving house. Our house is up for sale. My mortgage deal with NatWest ran out so I got a MIP with first direct. But I would like to clear some debt and switch to first direct before I move house. It may take a while to move house. Can I go to first first and advise I don’t need to borrow as much atm but when…
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Declined mortgage twice due to flood risk but i'm not even close to a river or flood plain
so I've been turned down twice, Leeds and HSBC due to being a flood risk even though I am 16 miles away from the nearesr river. There has never been a flood in my area and i've lived here 40 years. Apparently the lenders have signed up to Hometrack, which provides survey data about properties. I have contacted Hometrack…
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Taxes on Italian property if already own a share of a property in the Uk
Just a quick question... Im British and my ex husband is Italian. We have a mortgage on a property here in the UK but he only owns 1% . He now wants to move back to Italy and buy a property there for himself. Hes also transferring his residency back to Italy. He is asking to be released from our mortgage here because (he…
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Buy to let stamp duty
Does any know what percentage of stamp duty I would have to pay if I sell a buy to let and buy another one using the capital. I am basically exchanging one buy to let for another. The property I would like to buy would cost me £17500 in stamp duty if it counts as an additional instead of £3500. I would be grateful if…
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LTV assessment queries
Hi, We are currently undertaking our first remortgage. Some queries as follows: 1) we initially valued at £290k and BOI pushed back and said £270k. Is this going to the exact same at all lenders (I.e. do they use the same database?) or could I justify £275k with a different lender? 2) Does the product fee need considering…
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Tax advantages, or not, of a large arrangement fee on a BTL mortgage
I have sufficient equity on a BTL mortgage to either pay a large arrangement fee which in turn gives me a very good monthly repayment, or a small arrangement fee with a small monthly reduction in my current monthly pay. I do not have the brain power to work out which is more beneficial to my tax position ? If I add around…
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Using a LISA towards an unencumbered mortgage on my partners house
Hi all, this is going to be pretty niche so please forgive me for the waffling! The crux of the question is can I use my Lisa towards a new mortgage being taken out by myself and my fiancé, against a house that she owns outright. My fiancé's parents remortgaged their house just under 6 years ago, when she moved to…
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Credit Use after mortague application or approval?
My partner and I are buying a shared-ownership home and have been offered a decision in principle for a mortgage
with Darlington Building Society. Since we are first-time buyers, we have never been through this process before for a mortgage. We are unsure about using our credit card or applying for credit when the mortgage…
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5 or 10 year fix?
Hi all. We would love a bit of advice please :smile: Our 1.47% rate is due to end in Dec. We currently only pay £282 a month with an additional overpayment of £118 making our monthly payment £400. We currently owe £54,700 and have 19y 3m left on the term so will owe less in Dec. House was valued at £130,000 in Dec 2023.…
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Selling one house to buy 2 ( one for rent)
Does anyone have experience of selling 1 house for 2? Example, house sells for £250k and buy 2 houses near each other for £110k each, live in one and rent the other? Also £30k leftover before fees. Thanks
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Using rent to pay another mortgage
Is this possible / feasible? I own a flat fully paid for & I could rent out to for about £1600. Could I buy a small house for about £120k and just use the rent on the mortgage ? Eventually the 2nd place would be paid for
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New mortgage application vs extend previous offer
Hello all, hope you are well. We are FTBs. Completion data estimated by the builder is 31st July. The whole process started from October last year. We went with the mortgage adviser recommended by the builder and have had only 2 options suggested by the adviser and had to pick one. Thankfully the lender offered it. We have…
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Parents Equity release
My Mother lost her partner 3 years ago, they took out a fixed rate lifetime mortgage with Aviva in 2005, we have discovered that her £30000 equity release has now got a balance of £91000 and is increasing at the rate of 6% a year. This is unbelievable and a scandal in my opinion, she says she had no idea it would be this…
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Stamp duty confusion
Hi all, wondering if someone can help with stamp duty confusion. I have my own house and mortgage (worth £185,500) which I intend on renting out temporarily (I have applied for consent to let). I am going to move in with my partner and contribute to his mortgage (half). We have passed affordability checks and I am…
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best deposit / loan to value to secure lowest interest rate?
what is typically the optimal deposit to put down to get the lowest mortgage rate? I'm flexible in what I can afford and would like to put down the minimum deposit that secures the lowest rate. I don't want to increase my deposit beyond the point at which it gives no benefit to the rate. Thanks for any feedback
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Private mortgage
I want to lend someone ( my partner ) around £50,000 secured on his mortgage free house ( value £500k) No interest charged and only payable from his estate when he dies. I have several properties myself and we dont live together as I like my own space, and I dont want to pay the additional stamp duty to "buy in" a share of…
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HSBC mortgage confused
Hello, i'm an HSBC customer with a mortgage with them. I can't figure out on their wesite if i'm classed as an existing customer or home mover because the fixed rate is slightly different for both mortgages i'm looking at. I'm selling my place, buying another and taking out a new mortage with HSBC, am i eligible for the 5…
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A Shade Greener Leased Solar Panels
Hello all, Just wanting some advice please. Currently buying a house with solar panels which were installed by A Shade Greener. The seller states she doesn't pay anything for them and she's had them 10 years and has 15 years left of the lease. She says her bills are dramatically reduced, and what ever energy is left is…
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Gifted Deposit Vs Genuine Bargain Price
Hi everyone, It was suggested I post on here as there are some brokers on this board. There is trouble that I am having where my solicitor wants me to use a Genuine Bargain Price Application, but my broker is adamant that I should use a Gifted Deposit application. And this has been going on for two months with neither side…
