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Adding son as joint owner in a property and him taking on remainder of mortgage
Son is currently renting. We were thinking of a way to try and help him out by helping him get onto the mortgage ladder. Hubby and I own a house that we own jointly and let out and we have £55k left on the mortgage, the house is worth about £130,000. The house is currently on a buy to let mortgage with tenants living…
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Providing a Private Mortgage to our son to buy a property
Our son will be going to Uni in just over a year. We had considered buying a property for him to live in but the Land & Building Tax in Scotland on second homes makes that very expensive. A £300K property would cost us £22,600 in LBT, whereas if our so bought it, it would be £4,000. To get around this, we are considering…
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Removing the ex
HI, 16 years ago when I got divorced the court order stated he had to remove his name from the mortgage, he never bothered so for the last 15 years I have been trying to do so but they say they cannot remove him as they do not have the policy or process in place. Surely a court order shoule mean they have too remove him?
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RNPFN retirement savings plan
I took out an RNPFN retirement savings plan (endowment assurance) November 1994. When I started self employment I was advised that I didn't need to pay tax on my monthly contributions. Is this correct? I am concerned now that I should have been paying tax. The plan came to maturity October 2023. I understand it was a…
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Jbsp mortgage
Hi please if anybody can help me my brother has me if I would help him with his earnings with jbsp mortgage I'd love to be able to help but after hours of searching I can't find the one answer I'm looking for wich is I'm 26 will helping my brother with this mortgage will it affect me in the future if I wanted to buy my…
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Open Banking and Mortgages
I saw an interesting article and thought I’d share it https://www.mortgagesolutions.co.uk/better-business/2022/11/16/why-open-banking-is-the-key-to-revitalising-the-mortgage-sector-nordigen/ I think it is a good concept. Do any banks currently use this automated process?
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Deposit, Stamp Duty and Tax
Our situation is that my mother will be selling her house, and we will be using the proceeds of that sale as a deposit for a house that my partner and I will be paying the mortgage on. My mother will be living with us. My mother’s house is worth approximately £340,000 and we will be buying a property worth approximately…
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Anyone know a website where I can compare multiple mortgage advisers?
I am currently a first time buyer and me and my partner are feeling overwhelmed! We're finding it difficult to compare deals from different mortgage advisers. Anyone got any recommendations where I can compare advisers easily?
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Will Skipton BC lower my rate before completion?
Hi all, FTB and first-time poster so please treat me with kid gloves as I'm feeling waaaay out of my depth. We've got a mortgage offer for a 2-year fix with Skipton, due to complete early September. However rates have dropped since we got the offer to the extent that now we could be paying £500 less a month if it was on…
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Someone who is behind with the rent
Someone who is behind with the rent but not with the mortgage part, Can they try to repossess even though it is part ownership?
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Help to buy - To take on Equity or Not?
TIA for reading my post! I currently have a H2B mortgage that is due to expire in 3 months after a 5 year fix. Having spoken to a broker, we were informed of new processes when remortgaging that include a application to H2B, an admin fee, solicitors required etc, letting us know that the only difference in process when…
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New rate reduction, how long are you waiting?
Got a text saying after reduction of BOE interest rates (I'm on a tracker rate currently thanks to Lizzie's budget disaster) they are reviewing rates and new rates will apply from 25th August. I think over 2 weeks to enact a 0.25% reduction is a bit long isn't it? What have your experiences been?
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Porting mortgage with current lender with repo
Hello, Currently on a fixed term joint mortgage with Barclays - my husband had a sole mortgage on a property that was repossessed in Jan 2020 as detailed on credit report. We are looking to move property and have found a mortgage broker that has been able to get us a mortgage with a specialised lender. My question is,…
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Gifted Deposit
My Sister and I are buying a house with a NatWest Mortgage. Her long term partner of 20+ years is 'gifting' a deposit of £55k. He will live in the home, but doesn't want to own it. He is much older than my sister and doesn't have enough working years left for a mortgage - we are all very mature adults lol My sister and I…
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Mortgage & renovations question
Is it possible to buy an an unmortgageable doer-upper property for cash. And then six months later, obtain a residential mortgage for around £75k to fund the needed renovations? Or is there a similar type of loan that could be paid back slowly and at a competitive rate? Would the vendors of such a property want to see…
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I can’t wrap my head around this, help!
Back in April I locked in to a new 5 year rate of 4.24% on a mortgage of approx 45k to run over the next 20 years. All sounds pretty straight forward. In the last month of the previous term I paid 15k off, avoiding the ERC from Nationwide and the aim being to get 30k left to pay off within the 5 years and clear it with…
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Can a mortgage offer be amended if Rates fall
Hello all, I am a first time buyer and in process of securing a property. I am getting close to contract exchange, about a week back after discussing with my mortgage advisor (who works for the same bank that is the lender), I've had renewed my mortgage offer. However, upon checking today, I've come to know that the rates…
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Mortgage company error
Hi there, Hoping someone can set my mind at rest over the weekend. So I have 2 months mortgage arrears (just paid off 1 month was 3) and have agreed a payment plan for three months.. Sept, Oct, Nov and then another chat.. im happy with that and feel I can meet the payments. They’ve told me the next stage would a final…
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Help needed with Mortgage Application
Hi everyone We are presently going through a full application with Kensington Mortgages, however hit a hurdle today…! Throughout the week I’ve been supplying them with various documents. One request they had was for an employment reference from the ‘company accountant’. I am employed in my parents business and we only have…
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Renovations Query
Based in Scotland and have begun the process of a velux loft conversion being done. We have informed insurance and Building Warrant was approved by local authority with all regs being adhered to, however we hadn’t informed our mortgage provider (Nationwide) through no reason other than we hadn’t thought to. Is this a…
