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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…
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Mortgage without partner
I own a property (mortgaged) in my sole name, which I live in with my partner and our 2 kids. Partner contributes a set monthly amount of “rent” which he transfers to me cover his share of bills and expenses. We do not share finances and are not financially linked. I am looking to move house. Partner has poor credit and…
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Mortgage overpayment
We are in the process of moving house Our new mortgage will be approximately (haven't secured a deal with a lender yet) £1,200 per month - £210k borrowed, 4.3% This is affordable for us and eventually we will pay it off early. However in the short term I have been considering whether the first few overpayments could be…
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Child Maintenance & Mortgage
Am getting different answers from mortgage brokers re: whether or not child maintenance is included as part of income / affordability calculations for mortgage. Any insight here? Kids are under 5. Maintenance agreement is informal, kids dad transfers me £500 per month, but no court order or CSA. Evidenced by bank…
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Mortgage overpayment logic
Today I confused Natwest with my questions about mortgage overpayments :smiley: They have two overpayment modes: - Up to 999, the monthly payment stays the same - 1000 or more, they recalculate the monthly payment I don't want to have my monthly payment reduced, so I asked them: "What counts as an overpayment?". If I were…
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Mortgage additional borrowing
I've just applied for additional borrowing on my mortgage. I have already supplied my payslips for my 2 jobs. They are now requesting for my p60. I have a p60 from 1 job only. It doesnt reflect the income of both jobs as I started the other after the tax year. Now a bit worried. Applying direcly to mortgage lender. What do…
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I think I am in a predicament!
Hi everyone, I think I am up the creek without paddle but here goes. I struggled to get a mortgage on my own, due to being self employed and my dream house came up. My best friend offered to take out the mortgage with me as that is the only way I could get the house. The verbal agreement (witnessed) was that she would be…
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Remortgage on house already paid for
I currently own my house outright and do not have a mortgage on it. I need to borrow some money and want to understand if it is a good idea to re-mortgage my property? I am also looking into equity release but re-mortgaging seems to be a viable option. Can anyone please advise? The property is currently worth about…
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NatWest mortgage OP not showing
Earlier today (2pm) I made my first overpayment which was the max overpayment of 20% of the balance to an IO sub-account. The site said that the overpayment would be registered in a couple of hours, but it still isn't showing. Thr money has left my account so it looks like it's gone through. Can anyone speak from…
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Mortgage & Separation
Hi, I hope someone can advise.... My ex partner and I split 13 years ago due to DV. We have two children together, 14 & 16. We remained civil for the sake of the children even though I still received intimidation and threats during that time. 18 months ago, after receiving threats on my doorstep, we ceased communication…
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Mortgage Best Buys tool: cashback and "green" conditions
Hello MSE I was using the MSE Mortgage Best Buys tool to get some figures for a Re-Mortgage (deal is coming to an end come January), and then spoke to a broker and I'm now confused. I'm looking at a the 60% LTV bracket. There's a 3.90% HSBC (999 fee, 1250 cashback) entry that looks good, but my broker told me the…
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Mortgage refused due to fixed term contract
Hi, I am seeking some advice please regarding porting of our old mortgage deal to a new, more expensive property. We sold in September and had originally planned to do a non-simultaneous port of our mortage with Nationwide, meaning we could hopefully recoup our ERCs and continue our old rate on the new property, although…
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Shared Appreciation Mortgage
I have just found out that the house my mother was living in before she died had a Shared Appreciation Mortgage for £16,000 on it. and Royal Bank of Scotland want a payment of £176,000!! That is 11 times the original amount borrowed. I have seen that RBS is in court this month as some customers have decided to sue. There…
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Can I use a Lisa with a bridging loan?
FTB, found a property that needs some work doing before I could get a normal residential mortgage against it. Looking at a bridging loan until the work is done. Can I use the funds (and bonus) in my LISA in conjunction with a purchase on bridging finance?
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Repay/Pay Off Shared Appreciation Mortgage (SAM mortgage) loan?
I have been looking but I cannot find much information on this: My partners father (reluctantly) took out a SAM back in the 90s with Royal Bank of Scotland. He never liked having this loan over his head and has always wanted to pay it off. He has come into some money recently from another investment and wants to use it to…
