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Coventry Building
We have received a DIP with Coventry Building Society via a Broker, I can see Coventry Building Society have conducted a soft credit search and ID check from my Equifax credit report. We have now submitted a full application, we only needed to supply our p60s and 1 months wage slips. Do Coventry Building Society manually…
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How best to pay off my share of tennants in common mortgage
Morning. I am about to receive some money which I always had earmarked for becoming mortgage-free. I have a 50:50 tennants in common mortgage with my partner. We have so far paid equally both for deposit and payments. Is there any way to pay off half the remaining mortgage and have proof that I own outright 50% of the…
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5% Mortgage ending 2025 / Labour Freedom to Buy Scheme
Hello There! My name is Abbie (28) me and my husband are looking at buying our first home in October 2025. I am aware that the 5% mortgage scheme ends in June 2025. I know that Labour is introducing a new scheme called 'Freedom to Buy'. Could anyone tell me if this is a similar scheme/ Would we still be able to buy a house…
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Mortgage rate switch complicated
I recently switched my mortgage rate. They have come down again and I would save £35 a month by switching again. I still have time before the current rate runs out. They said just cancel the switch and reapply. However I lost my job after switching the first time. Money is not an issue atm as I received a settlement. But I…
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Mortgage query
Hello Hoping someone can answer a question I have. A few months ago I renewed my mortgage deal which is due to start from the first of November. However, since then I have put my house up for sale, sold it and had an offer accepted on a new home. The move in date is the 29th of November. Usually, the equity would be used…
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Mortgage v Pension
I am coming off a fixed mortgage deal in December and the options I have are around the 4.2% level. I am also old enough (57) to withdraw some of my pension. The question is, should I draw some pension and pay off some of the mortgage, or carry on as I am, paying into a pension and also a mortgage?
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Overpayment to reduce mortgage term requires a contract variation and fee - worth it?
Hello everyone. I have searched for this topic on the forums here and have found some useful information, but am still looking for a bit more guidance. I have a mortgage with a smaller lender (Marsden Building Society), and was fortunate recently to save enough for my first overpayment (at the maximum 5% per year allowed).…
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Mortgage fee vs no fee when overpaying
Hello! I wondered if anyone could help me please. My mortgage is up for renewal and I'm trying to work out if I would be better off paying £999 for the lower rate? I think ( although I'm probably wrong) the no fee rate will cost me £1500 more over the 2 years. (Likely to move after 2 years so not looking at the full term…
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Separation - estate agents / landlords refusing me as a rental tenant due to being named on mortgage
Currently going through a separation and want to move out and rent. Hitting issues with estate agents / landlords refusing me as a tenant due to being named on mortgage. Some saying I need to be either removed off the mortgage or house sale needs to be proved? Anyone any experience of this and have advice of how to…
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Income tax on 2nd home for parents to live in
I'm looking to buy a second home, not a buy to let, a standard mortgage. I pass the affordability checks and have the 25% deposit, plus stamp duty etc. Thave two options: * Have the mortgage solely in my name. My parents send me money every month to cover the cost of the mortgage payments. Will this incur income tax? Or…
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Stupid Question on How Much I Need to Borrow
I think I may have mis-calculated here. We're selling. I can port my mortgage to the new property. Mortgage left is £100,000. We sell our house for £200,000. House we're buying is £350,000. Does this mean I need a mortgage of £150,000? Boring bit: I originally thought it was going to be £250,000 as we'd use the £100,000 of…
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What’s the Ideal Down Payment for a Mortgage in 2024?
Hi all, I’ve been hearing a lot of conflicting advice about how much to put down on a home. Some say that 20% is the standard, but I’ve also read that many buyers, especially first-time homebuyers, are putting down much less. With changing mortgage rates and home prices, what’s the ideal down payment for today’s market? Is…
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New fix term due and lender wanting a new application
Hi, My fix term is due to end, I have had my mortgage 12+ years and usually choose a new fix term with the same lender online. I have tried to do this and they are now saying that I made 2x larger over payments during my last fix I now need to do speak with a mortgage advisor and do checks for a new mortgage fix!?! Had…
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Vida Homeloans.
Hi. All a bit new to this, my wife and I have applied for our first mortgage with Vida, via a broker. we had to go down this route due to a now satisfied trust deed, we have the Dip and now at the full application stage. We have pushed the valuation forward, just wanted to know what kind of turnaround time we are looking…
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Buying 1 parent out the house, 2 on deed 1 on mortgage
Situation - my parents own a property, they are mortgage free. They have split up to need to sell the house and split the amount 50/50. Let’s say for ease the property is £500k so they have £250k each.One parent wants to stay in the house so I want to know if it’s possible to buy with the parent staying in the house. The…
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Mortgage additional borrowing-valuation
We've recently requested additional borrowing to renovate our house. I have received a random text message stating that my lender has requested a valuation using Legal and General survey services. - I did not receive any communication from the mortgage lender alerting me that they instructed LGSS, is this normal? -Is it…
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How does borrowing against mortgage work?
We want to extend our home and will need to borrow against our mortgage. Total novice here and no idea how it works. We currently have an amazing mortgage rate (1.4%) as we fixed just before all the increases. Would we have to get a new mortgage deal, i.e. lose our amazing interest rate and pay a much higher interest rate?…
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Re-mortgage to buy another house. The ins and outs of how it all works??
Hi everyone I really need some clarity from a mortgage adviser regarding this….. I have a house I’m finishing renovating and planning on holiday letting it. After the kitchen is completed in a few weeks it will be worth £300,000. There is no mortgage on it now. Another house has come up for sale for £500,000. I believe I…
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Mortgage ending - dates not correct?
Morning, I took out a mortgage in November 2019 which was a 5 year fixed with TSB. Due to the massive changes in rates over recent years I have been keeping a close eye and was hoping to get my new deal 3 months early ( as TSB allow you to do ) as see rates may be on the increase again. I contacted TSB a couple of months…
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Halifax
HiMy broker has suggested we take out a mortgage with HalifaxI've had issues opening current accounts with them in the past, and Lloyds, as I once tried opening an account with a different email address to the one I already had open (that I'd completely forgot existed) and they said they'd flagged me for using different…
