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Mortgage Application Help
Hi all Newbie here but really looking for some helpful advice… Will be applying for a joint mortgage within next 6 months (ideally High street lender) Joint income is 47k per year, looking at 175k house with a 30k deposit… Partner has perfect credit, no debts, has also got a mortgage (selling properly currently) My credit…
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Mortgage application and credit record
Hi. I'm looking at moving house. If the mortgage was declined because of an issue with the valuation would it leave a mark on my credit record? Even though the issue was not due to my financial status.
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Self published Author Getting a Mortgage?
I'm hoping to be able to apply for a mortgage in mid 2027, so a long way out from now. But I wondered if my work situation might be an issue. I'm a self employed, self published author, which means I earn direct from having books on Amazon, and Amazon pays me. And that's fine, but my income heavily relies upon advertising,…
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Mortgage for extension
We've decided to stay out and look to possibly do an extension so have applied to borrow more against the house. We've submitted our application and documents however the bank have asked for planning permission/plans and builders quote however we have yet to get an architect and draw up plans or apply for planning as we…
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Do you need to set up a Trust when taking out a life assurance policy
My son and his partner are in the process of buying their first home. They have a mortgage in principle and an offer accepted on a property. The sellers are still looking for something to move to. My son just asked me who to add as a trustee for the trust they need to set up for their life assurance policy (advised by…
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Red flag? Mortgage broker trying to rush us into committing before potential BoE interest rate cut
My husband and I are currently arranging tracker mortgages to fill a short term cash flow issue due to money currently being locked away in bonds until the next financial year. Long story short, we need to buy our new home before we sell our existing, which we own outright. Our house is likely to realise a like for like…
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Building Society prematurely ending mortgage
I have a discounted offset mortgage that is due to end in 2031. Our savings almost match our mortgage, but we want to keep that pot for easy access, should it be needed. Last month, we received a letter from our building society telling us that they were withdrawing that product and would switch us to an SVR mortgage with…
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Bank of England meet next Thursday
Bank of England meet next Thursday.The market expects the UK base interest rate to be cut from 4.25% to 4% next week. My mortgage fix term runs out on 31/8. Maybe someone here knows when banks would apply rate changes after the announcement? Ive read somewhere that it happens on the 1st of the following month. Would this…
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Buying property from ex
Joint owners, 3 children together. Not married. I remained in the property with our children and have paid all the mortgage for the last 12 months as he said he couldn’t pay it. He hasn’t paid a penny in child maintenance either and I have now contacted CSA. He is bullying me into putting the house up for sale I have said…
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Lenders you can remortgage with, within 6 months of owning the property
My daughter , First time buyer won a house at Auction .We have lent her some the money so requires to eventually get a mortgage to pay us back.We've read most lenders require you to of owned the property for 6 months plus before they will lend??Ive read Santander will lend before the 6 months but not confirmed this . Are…
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Lifetime Mortgage
Hello! We are considering a Lifetime Mortgage. We have a lovely house in a city which is highly unlikely to ever see significant price drops, but stupidly, due to earnings (low!) we have an IO mortgage. I'm 61 and my husband is 68 and retired and we are worrying about how to manage when I retire - also I want to retire or…
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Joint mortgage and separation - ex has stopped paying
I am currently separated from my husband and we have a joint mortgage. I am in the property with our toddler, he’s somewhere else (wont tell me where) He was giving me 60% towards it but it’s all got nasty after I wouldn’t let him have a phonecall with our son because he’d just told me he’d cheated on me and I needed some…
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New mortgage fix duration
Buying a new house as a first time buyer, and I'm hesitating between a 2-year and 5-year fix. The rate for 2 fix is 3.69% and for 5 fix I could get it for 3.84%. The question is, how should I read the current rates given the bank of England rate of 4.25%. Given the banks need to make some profit, does it mean they assume…
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2nd home in cash, mortgage remains on primary residence. What are the implications?
Good morning! I am in the UK. I own my primary residence with a mortgage of £100,000. I plan to buy a second home in cash, with no mortgage. When my 5 year fixed rate mortgage deal ends on my primary residence, am I forced to get a 'second home' mortgage for it because I have 2 houses, or I can keep getting a 'normal'…
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Commercial or residential mortgage? HELP
Hi all. We are trying to buy a country property that consists of a house with a garden and behind that some land that’s run as a business. The house has a covenant on it saying it’s only to be lived in by the people running the business. Does this make it a residential or commercial? We have been trying both but being…
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Cancel current term or wait till 2026
Hi All i am on a 3 year term at 4.15% via Nationwide started in Dec 2023. i keep seeing deals at 3.15% or lower now and makes me anxious thinking the numbers will only spike up before my renewal. Apparently can renew only up to 4 month in advance meaning round August 2026 Anybody here on same boat? whats ur suggestion…
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Remortgaging (very) early in first term
Due to an potential forthcoming change in circumstances, I'm thinking that we might remortgage our 5 year fix with 26 months to go, (20 months if you consider I'd usually have start the remortgage 6 months early). I want to lock in a 10 year fix from now, which gives me a very long runway. Potential early repayment fees…
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Mortgage application with zero credit card balance
Hi Trying to find answers to the below Me and my partner have a AIP when applying I didn't declare credit card balance as it was at zero however that credit card is also not showing on my credit file when applying for the mortgage will this likely affect the mortgage process the AIP is with West brom the house we have had…
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Product Transfer Halifax
Hi Guys, Newbie here looking for some advice Our current fixed rate of 5 years is due to end 31st December 2025 We are looking to fix again for 2 years but due to a lot of changes that have happened recently, we have decided to do a product transfer and stay with Halifax I have recently started a new job, and only here…
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Leasehold surprise bill for invoice from 2022!
To my shock, residents and i received an invoice for circa £350 for additional costs incurred from 2022-2023 a week ago out of the blue. Being aware of the 18 month rule (section 20b of the landlords and tenants act) and having no prior warning for this, are we legally obliged to pay? Not to mention the company sending out…
