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Mortgage won't approve buyer's mortgage due to 'unsaleable' valuation but already mortgage it!
Hi all, Our house buyer has applied for a mortgage with a certain company (not sure if you're allowed to mention company names!) It is a family member and all went well, affordability etc - until the valuer came out. He is saying that it is unsaleable as it's within a cluster of three homes down a track with farmland all…
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Lenders who will lend to less than perfect applicants
I have a list of companies who will lend to people with adverse credit histories. Am I missing any? Vida Bluestone Aldermore Pepper Kensington Kent Reliance Foundation Home Loans Darlington BS Bath Building Society. Are there any others? Are there any to avoid? Many thanks
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Self employed mortgage issues
Me and my partner are currently applying for a mortgage through the shared ownership scheme, the lender has asked us for multiple different documents back and forth and we have 3 weeks left of our 6 week exchange deadline!! He was the director of a partnership company up until December 2023 when he resigned. He still works…
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Mortgage Early Repayment Charge
Hi All, I just wanted to ask if anyone knows the answer to the below: "Is the early repayment charge calculated from application or commencement?" i.e. if my current deal expires on the 31st of December, and you don't have to pay the ERC if you're within 6 months of that date. but I plan to move so need more mortgage. Does…
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Shared Ownership - Affordability Calculator
Hi, We are currently looking at shared ownership, however my long term partner took out an IVA in 2021 - so the mortgage is just going to be in my name - its a low multiplier as well. When it comes to the government calculator after inputting all my data it comes out with a 48% percentage score which falls between the…
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Santander Hard Credit Check > Valuation
Hello, I have applied to Santander for a mortgage. I got my decision in principle, they did a hard credit check on me and now have arranged a valuation. Am I safe to assume I have passed the credit check part if they have ordered a valuation to be done post hard check? Thanks in advance!
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Nationwide valuation
We bought our house last year and ported a fix from a previous house. This fix is ending in June this year. We bought it for £365k and it was valued the same by Nationwide. In the mortgage tracker house value increased to £372k in March this year. I logged in to Nationwide this morning snd value shows £360k?! Is this…
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Remortgage after fixed rate
Our fixed rate expires on the 2/7/24 smack bang in the middle of interest rates being potentially cut either in June or August. Any advice on what you would do? Is it best to just stay on the current lenders Standard Rate for a month or so (no idea how much this would end up costing us longer term)? Any advice appreciated.…
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Accord mortgage valuers
Hi all. We’re selling our current home and looking to buy another property. We’ve got a DIP with accord mortgages. The valuation was booked on our new home by them, but the valuer said they had the wrong offer price on the house? The valuer cancelled the appointment there and then. Our broker is unsure what happened as the…
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Mortgage Company Profiteering
When we moved house in 2020, I got a really amazing interest rate and decided to pay as much as possible over the shortest term possible. We got a 5 year fixed on 1.43%, so I was paying around £1900/month to keep the term low (14 years). Where I have been able, I've also been making my allowed 10% overpayments. In November…
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Mortgage for "second" home, what are my options?
Hi folks, Appreciate some suggestions and clarifications. Here are my situations. Got property in Bucks, value £330k. Bought in 2001. Moved away because of employment. Later we got consent to rent from lender 2007, and it's now occupied with tenancy by a parent with kids. Got second property in Berks. Bucks property…
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Paying mortgage when retired OAP?
There has been a lot of stories in the news recently about younger people getting mortgages that they will be paying as OAPs. 40 years. Also another story or two, about OAPs in Private rentals being asked to leave as the owners want to sell up. I never earned enough when younger to think about buying a property, I was…
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Overpaying your mortgage- is it worth it ?
So I've been wondering what is the point of overpaying your mortgage. if you're fortunate enough to have spare cash around to put towards clearing what is most likely, the biggest debt most people will ever have, to me it seems pointless and a waste if your home's value is subject to the peaks and troughs of the economic…
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Endowment maturity
Hi we have an endowment which is due to mature soon. This is no longer attached to a mortgage and hasn’t been since 1999. Aviva are asking for proof of no interest from the Nationwide (old mortgage provider). We do not have a record of the mortgage number and Nationwide say they can’t provide proof of no interest without…
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Nationwide mortgage timeframe
I have below the timeline from nationwide: 18/01 DIP was approved, date to speak with MA was set. 20/01 Spoke with the MA and provided all the documents. 24/01 MA asked for some more details regarding the source of the down payment which was provided to them within an hour. 27/01 A call from MA to make an amendment on…
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Overpayments advice please
Hello folks. I wanted some advice on making overpayments on our mortgage please. We have spoken to our lender who advises the following: * If we make an overpayment of £133 per month (from £767 to £900) we will overpay a total of £35,100 during the remainder of the fixed term period which ends 01/10/2027. * That will bring…
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Northern Rock repossessed asset owner?
Will be really grateful for any help or steers to unpicking who the asset holder of a parcel of land now is. The original owner was a company that first went into administration / insolvency in 2005 - the legal charge subsequently passed to Northern Rock and an entity seemingly titled “Diversity Trustee No.1 Ltd” … Would…
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Mortgage affordability calculations
When applying for a mortgage, is it possible to get a lender to consider where you'll be able to reduce your outgoings? Or is it always a case of "You've been spending it for the last X months, so we're going to assume you're going to continue spending it". Reason for asking is that our mortgage is tiny at the moment, so…
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Northern Rock - Tracking down repossessed asset holder
Will be really grateful for any help or steers to unpicking who the asset holder of a parcel of land now is. The original owner was a company that first went into administration / insolvency in 2005 - the legal charge subsequently passed to Northern Rock and an entity seemingly titled “Diversity Trustee No.1 Ltd” … Would…
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IHT and paying off mortgage as guarantor
Hi my husband is a guarantor for my daughter's mortgage. She is on ESA in support group. He has an ISA maturing and plans to use it to pay off her mortgage. Would this be affected by IHT if he were to die within 7 years as he is in effect paying off his potential debt if she were to default?
