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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.
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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?
