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RIO Mortgage or other options? Ill health
I'm looking for some advice from anyone in the know about this type of mortgage. I'm currently owing £67k on a house valued at approx. £240k. I'm 59 and working full time, earning £36k. My mortgage has 10 years 6 months to run. I want to look at switching to an RIO mortgage for various reasons - mainly because my health…
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Personal Mortgage issues and business insolvency
Hi, I am seeking some mortgage advice. I am a Director and shareholder of a small company in the South West. There are 2 Directors and the same people own 50% of the shares each. Due to our energy bills being so high due to a long contract we cannot get out of (thousands of pounds more than we should pay each month - a…
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Switching to joint ownership
I currently own my house with around 50% of the value left on the mortgage. My partner is looking to buy but cannot afford anything suitable, I am also looking to extract value from the property to buy some land and start a new business venture (before he moved in I was considering downsizing or let to buy). Is it possible…
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How does porting a mortgage work?
We have listed our property for sale with the intention of porting our mortgage across. I have rung two estate agents to book house viewings and both of them have been very insistent in me sitting with their mortage advisor, even though I have told them we intend to port our mortgage. They kept talking about possibly…
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Moving home- should i pay off debt or have larger deposit
We're currently in the process of upsizing Expected equity is £120,000 Minus moving costs, SDLT etc £20,000 Leaves us with £100,000 deposit for the new home New home is £500,000 I currently have personal loans and credit card debt of £15,000, which im paying off £700 per month What im struggling with, should we pay off the…
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Auction property valuation issues
Hi all,Basically I've paid for my deposit, along with the estate agents fees, to an auctioned property. The issue I'm having is NatWest have come back with the following in regards to their valuation. Please note the first sentence where it doesn't actually state the "Evidence of". Of what exactly?I've been in touch and…
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offset mortgage
I took out an offset mortgage many years ago. This runs alongside a bank account to offset interest etc.I did use the bank account, and it did have a balance, but as I never used it for quite a while the bank shut the account, taking away my option to offset.At the time it was a very lean time and what little money I had…
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Being blocked from Repaying a Equity Release loan on death of parents
Looking for some advice/guidance as I find myself in a slightly frustrating position. My parents took out an equity release on their property about 10 years ago. They have both recently died but there is the slight complication that the 2 executors listed on the will have decided they don't want to perform the role. They…
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Mortgage application stage
Hi ive just had surveyor want to book.mortgagr application for my buyer in our poerty.Does that mean the buyer has passed the other stages so far such as the affordability and credit check with mortgage company it's now just down to whether the property is now worth the mortgage amount? Just trying to get feel of progress
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2nd Mortgae
Hi I am at a loss here. I want to buy a new home but already have one. Once i have the offer accepted i will put the my home up for sale. Can i do this. Hope the above makes sense
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Mortgage Deal ends 1st August - BOE next review is same day
Hi All, My mortgage deal ends on the 1st August, the same day the BoE review interest rates. Concerned if i do a deal now they will drop on the 1st August and i will miss out. If i was to stay with the same supplier can I change same day if i am happy with the house valuation? Also do they change mortgage rates the same…
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Remortgage Choice
Whilst it is crystal ball stuff and everyone has their individual finances to consider I'm curious on what the general consensus moving forward
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NatWest Mortgage
I live with my partner (ex now) in our mortgaged home. We have decided to rent out this property and buy our own individual flats. I have an AIP with NatWest however when I try to continue to apply online, it asks if I’ll be settling any current mortgage and if not I can’t proceed online. Why would this be? I need to call…
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Joint mortgage with brother request
Hi - my brother has been through a protracted, nasty divorce and wants to take over mortgage and remove his now ex-wife. All agreed by court etc. However, bank won't lend him money as he had a period of not-working (during mental health crisis during divorce). Is now stable and on decent money and covers costs each month…
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Redemption statement for only part of a mortgage
Hi there, just wondered if anyone could shed some light on this. I have a mortgage with NatWest. Has anyone ever heard of / been required to receive a redemption statement for only part of their mortgage? Is this a thing? I have scoured Google and everything I find insists a redemption statement is only relevant if paying…
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First time buyer advice
Hey everyone! My partner and I are looking to buy our first property in the next 12 months. We've managed to save what feels like a substantial deposit, although the LTV would still be about 85%. We took out a loan to buy a car at the end of last year. At the time we were in two minds about using some of our deposit to buy…
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Mortgage offer
I have a mortgage offer from TSB and was hoping to switch my current account with them. This is a second account… would this affect my mortgage offer?
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What happens if a bank's new customer mortgage rates are better than its product transfer rates
Let's say you're with Natwest and its time to renew your fixed rate mortgage. The best remortgage deal on the market (for new customers) is from Natwest. Meanwhile its product transfer rate is more expensive. Can you get the new customer rate? And if so, do you have to go through affordability checks or will it be treated…
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Transfer of Part Plan
Hi, I've agreed with my neighbours to purchase part of their garden but I have very little idea what's required so would be grateful for any advice. As I made the offer, I've been trying to arrange and pay for everything that has been required. My solicitors have now told me (weeks in!) that I need a plan for the transfer…
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Mortgage application between jobs
We're mostly in a good position for a mortgage offer of a 380k house - we both have great credit rating, good incomes and a deposit worth half the value of the house, including the proceeds of a sale of my first home. We're looking to borrow 190k, which is far below the ~500k we were being offered as a limit in agreements…
