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About to apply for a mortgage after defaults dropped off in early April
Hi all Just at the time where I'm ready to apply for a mortgage. After falling into bad debts in 2018 as a result of government changes to IR35 in 2017 (I lost a third of my monthly income), I've managed to rebuild my finance stronger than ever. Recently, 4 defaulted accounts dropped off my credit file in early April but…
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Equity release
Hello my house is worth at least £350,000it would seem I could release ££140,000 in the next 3 monthsif I were to release £140.000can you advise how much I would owe in 5 yrs time , in 10yrs time, in 15 yrs time and in 20 years time based on current interest rates which I am aware are subject to fluctuations. I don’t…
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Mortgage interest for the day prior to completion
Hello My remortgage completes tomorrow but I've noticed that the mortgage provider has released the funds to the conveyancer today and charged me a day's interest already (around £85). I appreciate the benefits of the money being ready early to ensure that completion happens smoothly tomorrow, but I can't find this early…
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Leasehold extension problem
Hi This is my first time posting, apologies if this is in the wrong section. We have owned our flat since 2006 and are in the process of extending the lease as it is nearing the 80 year mark. We have had a leasehold valuation carried out to calculate how much it will cost. During the valuation the valuer has found a…
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Equity in my house and Repaying Help To Buy before 5 years ends
Good afternoon, I am looking for some advice please. I have approx. 18 months left on my current mortgage deal with a rate at 2.04%. However, I took out the Help to Buy Equity Loan (20%) to allow me to get the mortgage deal initially. I believe that the value of my property has increased, I am getting a couple of free…
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Strategy for remortgage with LTD
Hi, I just took a mortgage on a fixed rate for 5 years. I took it as a self employed and now changed to limited company. I own 100% of shares and I am director. I believe during remortage banks will see me as a self employed anyway. Now I am wondering how I should act with gained profits. I am thinking to pay myself only…
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Advice - make this make sense for me pls
I've always believed that within our banking system more information is collected about an individual. I've got my mortgage with a high street bank, my current outstanding amount is under 63k, my house current valued at 220k. Recently approached my mortgage company about borrowing more, 45k to be precise to do a loft…
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Does no lender now offer competitive rates for offset, or even offset at all? First Direct?
I cannot find any. It seems scottish widdows and first direct no longer do... In addition, is there any point in First Direct, every product they offer is really not competitive at all.
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Barclays mortgage valuations... which company?
Does anyone know what company Barclays use for their property valuations, and whether I (as the customer) would have any say in who goes out? The reason, I'm buying a new build and the developer won't allow Connells on site (because of their reputation to downvalue - which I understand). I've had a mortgage application in…
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What counts as PDL to lenders
Hi folks Applying for a mortgage with Skipton, who don’t take anyone with a Payday Loan in the last two years. But a lot of back and forth online as to what classes as a PDL to lenders - products like Drafty, Finio, Pave etc… Any informed thoughts/experiences welcome.
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Credit card balances and DIP
My partner has a small credit card balance which is to be paid once we sell our property. When applying for a DIP/AIP with lenders do I put the balance as 0 or the balance as it is now? We are not buying and selling at the same time so when we apply for the full mortgage offer it will be zero. Looking to maximise borrowing…
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PCP & Remortgaging
Hi all, Our remortgage is due on the 1st July, and we’re looking at going through a new lender via a broker. However, we also need to change our car on pcp and I’m wondering if getting this done now will cause issues with our remortgage? we haven’t applied for anything (remortgage wise) just yet, but expect to start the…
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Almost finished house purchase - new credit card?
Purchasing first house. Due to pick up the keys 7th May. The obvious answer is 7th May, but I thought I'd ask anyway. At what point do mortgage companies stop checking credit records? To be honest we've comfortably passed the criteria for the mortgage (I didn't even need to send statements for spending etc., or other…
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Credit cards and mortgages
Would it be a problem to apply for a mortgage when at the same time you have a credit card to pay off? The card has been maxed out with paying off the minimum each month - been like this for the last 6 months or so Wondering how this affects mortgage applications. Thanks D
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2 applications at the same time
Can you apply for 2 mortgages at the same time? My property has an offer accepted and I’ve put an offer on a property that’s been accepted. I have a DIP from Mansfield BS on their credit repair product, I’m happy with due to my IVA still showing on credit file (paid off awaiting completion cert) full application will be…
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Best way to overpay?
When I bought my house I took a 2 year fix and during those 2 years I made some overpayments. When that came to an end I took a 5 year fix. As the new paperwork did not show any difference in my remaining term, I rang them to ask what difference the overpayments had made to the term. They stated that I could work it out by…
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Alerts for mortgage rate
I have a deal locked in for a remortgage on the 30th June, but would like to keep an eye on any better deals between now and then. Is there some kind of App, or website that will alert you to decreases of increases between now and then? Thanks for any insight here.
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After mortgage offer
I have my mortgage offer (HSBC) and am hoping to complete within the next few weeks. I am relocating and a parent is coming with me. They rent. Their income is from pensions (LGPS and state) and they have found a place to rent near my new property. The estate agent has asked them for a guarantor and that would be me. I…
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FTB: possible to switch mortgage deal with same lender?
Hello everyone, I'm a first-time buyer in the process of buying a property, and I have a quick question about mortgage rates. At the end of March I applied for the mortgage through a broker, who found me a 5-year fix at 4.74%. The mortgage offer came through last week, but I haven't yet concluded the missives (buying in…
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Self Build-do we need building warranty?
we we have recently completed a self build and have applied for a small mortgage (45k on property value 650k) to complete garage and landscaping. We have been told that we cannot get a mortgage without a building warranty. The property has passed building regulations and has all relevant certificates. Is this correct? Is…
