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Kent reliance Shared ownership Mortgage with defaults
Hello. We have applied to buy Shared ownership newbuild , which will be built next July. We have some adverse credit history , couple of late British gas payments and 2 silly defaults ( didn’t pay for 2 months and then paid everythjng off in one go, that was 1 year ago , me and my husband got 1 each). It was hard to get…
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Anyone had successful appeal over underwriters decision?
We have been refused offer after 4 weeks waiting for it, all our circumstances were disclosed at the DIP stage. Only were refused because of "poor banking", as we had 1 DD returned in October, this didn't cause a late payment and we had thousands in savings on another account, we have around 6 accounts, so it's just a…
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Mortgage SVR higher than personal loan rate
Maybe I'm just behind the times, but is it normal that the SVR on mortgages would be higher than the unsecured personal loan rate for the same provider? Example Nationwide - they just sent me a marketing email offering me a personal loan at 6.1%, but their current Mortgage SMR is 7.74% - seems a bit strange that you pay a…
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Two addresses and electoral roll
For ten years I flipped between two different addresses in two different counties but was with the same employer. One of those addresses is my parents house where my bank accounts and credit information is held. The other is linked only to my previous job I.e wage slips/p60. I then moved officially to a new address in 2022…
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Expiring Mortgage Offer - Risky Re-Valuation - Please Help!
Hi there - sorry in advance for the length, it's a bit complex -- I've been buying a house with a single-skin brick extension housing the whole kitchen; the extension is the reason a lot of valuers will not recommend for lending. Some lenders such as Accord (who I had an offer in hand for another property from, received…
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Mortgage query? Two part mortgage - pay off one in full?
Hello, I am hoping someone can reassure me that I am making the right choice. We are very fortunate in that we are about to inherit approx 80k. We have two mortgages on one property. Part 1 is £123,209.56 at 1.59% interest until April 2025 with 20 years and 8 months remaining 5% early repayment charge and allowed to…
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Moving into partners house
Hi, My boyfriend and I have been together for a year and a half now and are ready to move in together. I have absolutely no idea about mortgages or properties or anything like that as I've always privately rented. I need to know if the information my boyfriend is giving me is correct. My boyfriend wants us to go 50/50 on…
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Best thing to do with life insurance - ERC
Hi all I'm after some advice please as I am not sure what would be best to do with a lump sum. I'd love to be mortgage free asap but I am obviously keen to avoid paying the bank more than I have to! I currently have a two part mortgage. Part 1: approx £240k, fixed rate 3.78% ERC 4% until December then drops to 3% (then 2%…
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Mortgage with DMP - but defaults have dropped off
Hi, firstly thanks for any help or advice offered. In 2017 I got into some financial trouble and ended up in a DMP (managed by stepchange). The 6 debts were all defaulted in the same year. This DMP is still ongoing (I’m still paying and haven’t missed a payment in 7 years) however all associated defaults dropped off my…
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Mortgages for the retired
My wife and I are looking to purchase our final and forever home. We are both recently retired with a guaranteed income from state and private pensions (index-linked)of £55,000. We have an interest only mortgage at present of £68,000 and the t equity in our current home is £200,000. Our plan was to purchase the property,…
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Considering Halifax fixed rate switch offers
Hi all, Our current 5 year fixed rate mortgage of 2.44% with Halifax ends on 30th September. If we do nothing then we'll automatically move on to their variable rate, which is currently 7.74% and we obviously have no intention of doing this. As we're within 6 months of our current deal ending (it was 3 months until quite…
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Concessionary Mortgage question
Hi, I am a tenant and the house I am living in is up for sale. Am I able to ask the landlord for a concessionary mortgage, as long as they recognized it to be a gifted mortgage. Also, my landlord has just passed away, so I'll phrase the question again. Am I able to ask a beneficiary solicitor for a concessionary mortgage,…
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Protections
If you already have income protection (half your salary for 2 years and a lump sum ant the end of the 2 years of three times your salary) and life assurance from your employer, what protections should one consider for a mortgage? Would it just be buildings and contents insurance?
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Electoral roll - check my file
According to check my file. The three credit ref agencies have different dates of electoral roll registration for my current address (Rented accommodation) I didn't update electoral roll straight away. I didn't register to vote here until this year's general election.. Equifax - registered from 2023. Added to rolling…
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P60 for mortgage lenders
Hi, im so worried. Me and my partner just applied for a mortgage and I have been employment since I was 16 and in a permanent job so my P60 was fine but my partners most recent P60 was from a part time job last year and he’s worried that it shows gaps in his employment as he was caring for his mother at the time who sadly…
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Nationwide Process Advice
Hi All, just looking for some advice in hope to remove some stress back ground applied for mortgage with Nationwide 04/04/2024 directly Approved and offer received 11/04 14 Aug contacted them for a revised offer due to interest rate reduction, all done and complete on the call with revised offer emailed to me before call…
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Overpayments on mortgage
Hi all, I moved into a shared ownership home with my partner in February this year - We have a mortgage for 25% which is £89,605. I am thinking to the future, in 4/5 years we are hopeful that we can move on and buy 100% of another property so it gets us out of shared ownership. is it worth overpaying on the mortgage? We…
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My Mortgage Application declined by 4 lenders after positive DIPs
I am really confused and worried now. I had an offer accepted on a property and had 25% deposit, I am self-employed, sole trader and also in an employment which i started in March 24, so quite recent. At first my application gets approved and moves straight where DIP/AIP gets granted then down the line i get the no from…
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Need advice- Residential mortgage application- how to deal with repayment commitment?
I'm aiming to secure an offer in the range of £215,000 to £220,000. My salary is £44,263, and without considering the rental income, my affordability is approximately £200k -220K, depending on whether the lender uses a 4.5x or 5x salary multiple. So to achieve the range of 215-220K, I need a lender than can accept 5x…
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Should I fix today for 5 years?
Hi. Current 3yr fix Mortgage with Nationwide ends next month. Can do a straight 5yr fix now at 4.2% for 15% more per month than paying at moment. No fees. 15yr left on Mortgage. Can't see any dramatic fall in rates in coming years so for peace of mind it looks a fair deal. Any advice appreciated.
