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Eligibility for Retirement Home for Live In Parents
My fiance and I are finally looking to buy a new home but are restricted in London because of our salaries. We've looked at different options such as renting somewhere else which is larger...share ownership...what we can buy.... We've always wanted to have our own home so buying is our ideal route. I've seen properties on…
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Benefits and getting a Mortgage
My sister and I want to buy a house (currently renting) she earns £37,099p/a with a full time job she has been in for 20+ years. I am on long term (10+ years) Employment and Support Allowance I receive £8,270p/a. What banks would accept benefits and is it best to go through a Mortgage Advisor? I've had debts written off in…
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Previous Debts and Mortgage Lender
What is the chance of securing a mortgage with a lender that you have ever had a debt management plan with? My mortgage advisor has found us a mortgage with Natwest, but for the life of me, I can't remember if I had an IVA, with them included, about 10-20 years ago.
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Auction property mortgage downvalued options
First time buyer here. I've just had my mortgage declined due to a downvalued valuation as the loan to value exceeds the product I originally selected. I have already paid a £5,500 deposit on a £110,000 auction that has now been downvalued to £106,000. I'm just wonder what my options could be going forward as I have a…
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Mortgage LTV bands and getting cheaper rates?
Next year I will be renewing my mortgage as my first 5 year term comes to an end.... I have a LTV of 24%.... Do LTV's work in increments of 5%? So in theory would I need to get this 24% down to 20% to trigger the next best mortgage rate? Curious to know so I can decide what overpayments to make before my current term ends.
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Endowment Policy Advice/guidance
Hi All, Just looking for some advice/guidance regarding a Endowment policy that is due to mature in 2 years (April 2025) The policy was set up to cover an old mortgage of £31k and set up with Allied Dunbar (Now Zurich and called a Homeowner Plan) and the policy is on track to mature at approximately £32k. The current…
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Aip taking over a month?
Hi everyone I’m wondering if someone can tell me if this is normal I’ve been speaking to a mortgage broker regarding a joint borrower sole proprietor mortgage, they have my details and the other borrowers details It’s been a month now and I’m still waiting on affordability/agreement in principle being sent over, is this…
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Should I re-mortgage now when rates should start to fall?
Whilst my standard variable rate is unbearable and costing an extra £500 per month, I'm just wondering if maybe seeing to out till the 1st of August to see if there is a rate drop.
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Mortgage payments reduced (Halifax)
Halifax have annoyed me. For the last few years while interest rates have been low I've been making overpayments on my mortgage. I was allowed to overpay by 10% of the balance at the start of year without starting to incur ERC, and I maxed that out. But this meant that once I'd put the 10% sum in, I was technically…
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Mortgage broker major error
My broker advised a new mortgage with a new provider 4 months before my mortgage was due to renew. It was a 2 year fixed. However, a few weeks later they said that it would be a better deal to renew with my existing provider. I agreed fir them to arrange this. I have subsequently discovered that they have accidently moved…
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First Timer Buyer Rule Clarification
Hi all, Always appreciate your input :) If I own a home but it was deed of gifted (at a lot of cost to me) does this count as me buying my first home? Am I no longer a first time buyer? So, I'm trying to help my sister out buying her own place which she cannot afford at all but I didn't actually buy a home myself, are both…
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Aldermore DIP first time
Hi all- new to all this! Me & my partner have applied for a mortgage with Aldermore via a broker. DIP was approx 6th June - full mortgage offer went in 12th June. Valuation has been instructed on their side - there’s been some queries since EG asking about things on bank statements etc - also more wage slips. Anyone got…
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Valuer Issue
Hi, I'm in the process of purchasing my first property, but have come across something unusual. The mortgage provider had sent a valuer out to the property to confirm its suitability to be mortgaged. (they used countrywide) the valuer noted a problem with rising damp (by the use of a damp meter, bear in mind this is a…
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Does wiping out debts through Appealing affect my chances at getting a Mortgage?
I have 3 depts: HMRC late filing fees (I do not owe any taxes, and I have now completed my self assessments) Energy bill Student loan I stand a reasonable chance to clear my HMRC late filing fees, and potentially reduce the amount I owe to the energy company who has sold the case to a dept agency. The student loan…
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NatWest Milestones
Hi all, I've just checked my online tracker for NatWest and can see that the Assessment has been marked as Completed. Does anyone know if this is NatWest willing to give me the mortgage? I only ask because they've only asked for payslips and no bank statements.
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Sell or rent only home
I'm planning to move in with my partner who has her own place like myself. I have 3.5 years left on my fixed mortgage and am already on the 40% tax bracket. In time, perhaps in the next 2 years, we would look to buy a house together. My question is what should I do with my property. I imagine I'll have to pay 40% on any…
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Self employed mortgage 1 year accounts
I am self employed 3 years, first year profit 16000 second year profit 20000 third year profit 410000. I want to get a mortgage for 180000. Is this going to be possible or will I need to have two years at 41000?
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Mortgage Broker concerns
About 16 months ago my son and his partner wished to buy a home together. My son had no debts but she had £23,500 worth of debts in her name. Her father is a mortgage broker and said he couldn’t get a mortgage for them because of her bad credit history. He said if my son took out a loan and paid off her debts then he could…
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Conveyancing - different solicitors for ID verification?
Me and my partner are currently going through the process of remortgaging so I can go on the deeds of her house and both our names will be on the mortgage. We have a conveyancing solicitor, same one as she originally used. But they've said that I'll need to use a different solicitors for ID verification. It seems a strange…
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Damp and Timber Report Quotation
Hi all. I'm currently in the process of applying for a mortgage via NatWest for an auction property. It is up to the valuation stage and they requested a damp and timber report. I got the report yesterday with "The presence of rising dampness to accessible structural ground floor walls" along with a quotation of £3,000 to…
