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Separated with ex, want to understand eligibility for what I paid into the house
Hi there, I need your advice on the money I can reclaim from a property I am no longer paying towards the mortgage of. Here are the facts: * I got a mortgage on a property with my (then) partner, as a family home for us and our two children, * We paid it off as aggressively as we could - we wanted to be mortgage free ASAP…
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Mortgage for half house
Hi Please can you help. My brother and I inherited my mother's home in equal shares. My son and his.partner want to buy my brother's share c£190k, by way of mortgage. I will still own the other half. Can they get a mortgage in their names only without me being party to that mortgage. I am retired and do not want to be…
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Applying for a mortgage with debt - where do we stand?
Hi all Myself and my partner currently live in a property with an approximate value of £405,000. We are 2.5 years into a 5 year fixed term and have £206,000 left on our mortgage. We're looking to move, however between us we have around £55,000 worth of debt (made up of loans, credit cards and overdrafts). We have £199,000…
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Maintenance loan and Mortgage
I’m currently a part time student who is looking to apply for a mortgage next year. I work during the week as my uni classes are at the weekend. I’m in the process of applying for my student finance for next year (academic year starting in January) and was wondering if active maintenance loan payments coming in would…
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Switch rate cancellation is not reverted by Barclays
Hi, I applied for a new rate in my mortgage on 11/10/24. Mortgage rate was ending on 30/11/2024. On 21/10/24 I was about to exchange the sale of my property and I requested a cancellation not to incur early repayment charges. The buyer pulled out last minute on 4/11/2024 and that was neither my fault nor under my control.…
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Mortgage reserve
So we’re in a bit of a mess and hoping someone can advise us. We have a mortgage reserve with Barclays at an eye watering 8.4% We owe £35000 on it and are currently paying £300 per month towards it £250 is the interest. Our mortgage term currently stands at 4yrs 10 month. We are not on target for it be paid off. In 58…
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Credit Utilisation vs Debt-to-Income
Hi all, I’m wondering if anyone can help me. I will be applying for a mortgage within the next couple of months and will have £9000 of credit card debt (69% utilisation), which does not look good, however: - My partner and I’s joint income versus debt repayments gives us a conservative DTI ratio of 33% - My debts only…
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BTL Mortgage
I have a BTL Mortgage which runs out at the end of March 2025, where the tenant are leaving the house in the middle of January 2025. Plus I want to change the Mortgage so that it is a standard fixed one from April 2025 so that I can live back in the property Can I move back into the house after the tenants have moved out…
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Can I buy part of my parents house?
Hi all, just looking for some general advice. Recently discovered my parents are quite badly in debt - £100k+ Mum is 70 and severely disabled, she’s got £70k+ credit card debt. Dad nearly 80 and still technically a sole trader running a family business but my bro is actually running it for him but not making a penny,…
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Pay chunk off mortgage or use savings over time
Hi, I am 61 and currently have £116000 left on my mortgage, fixed at 0.99% until Dec 2026, about ten years left on it. Payments are £978 per month but I don't want to be working in a stressful job I hate until I'm 71! So I'm looking at ways to reduce the monthly payments after 2026 so that I can afford to take a lower…
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Porting a mortgage and borrowing more
Hi all, This might be a daft question, but I'd need some help, maybe from people who have gone through this already. Let's say I have £300k balance outstanding on my mortgage and I sell my property for £600k. I want to buy another property for £1M and the bank lets me port my mortgage and borrow the £400k outstanding. I…
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Switch from Tracker to Fixed?
Hi all, I’m currently on a tracker with Nationwide which is 0.1% above BoE base rate (tracker rate currently 5.1% as of Sept 2024). It seems like this is expected to drop further in the current months but perhaps by 0.5% as a max, and will continue to drop in the coming years but maybe plateau around the 3.5% mark.…
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Monthly interest charge on mortgage
Hi - I wonder if someone can help me understand. I recently took up a mortgage with Halifax and I am on an fixed rate. I would like to understand how the monthly interest on my mortgage has been calculated. In September, my monthly interest charge for was £1,473.83. Since then I paid an installment (so the overall…
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Getting a mortgage 18 years after repossession
Hi, I’m looking for some advice on the above. Myself and my husband were very young and unfortunately had our first home repossessed almost 19 years ago due to many factors. The main being me falling pregnant and not being able to work due to a complicated pregnancy and my husband losing his job. Although our property was…
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First Time Buyers - Adverse Credit Broker
I’m wondering if anyone has any experience with a specialist lender. We are FTB in a bit of a different situation as we have been private renting for years and our landlord is selling our property which we have been given first offer to buy but she doesn’t want it to drag on and wants to sell ASAP. My husbands credit…
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Pension contributions and mortgage affordability
For the past few years I have been sacrificing 100% of my bonus into pension, which I believe is a salary sacrifice arrangement. As a higher rate tax payer with no immediate need for the money this has been a tax efficient use of the money. However, I intend to move house within the next 12 months, and being based in the…
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Do you think interest rates are going to fall significantly (<2%) over the next 5 years?
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Equity release on Finnish 'log cabin'
Hello all, Does anyone out there have any experience of equity release on an all wood house? Mine is a kit log construction house from Finland, there is no masonry skin so every company I've approached has turned me down! Plus I don't have a builders or architects warranty as I built it myself with help from sons-in-law…
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Foreign income and mortgage affordability check
I am retired and a substantial part of my pension benefits is in euros. When I speak to mortgage brokers/bank etc. I get different answers to the question if my pension benefits in euros is taken into account to determine the affordability of a mortgage. Some yes (albeit sometimes partial) other say no. Has anyone any…
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RTB and mortgage
Hi guys My neighbour wanted to know, he's about 62 yrs old . He doesn't work. But wanted to know if he exercised his right to buy and gor a discount of 40 percent as he's lived there for some time. (Before the government changes take place). Can he have a friend to take a mortgage out. Would a lender allow that. His friend…
