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Early redemption charge?
I have a 5% early redemption charge on a £100k interest only loan at 1.29% until 8/2026, we are in the lucky position to be able to clear it.To me, in the current climate, it would make sense for the lender to wave that charge.Has anyone heard of lenders doing this? (I'm with Santander)
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38 Y O First Time Buyer
Partner and I have combined annual income of around 75k before tax, myself 27.5k he 47.5k. Our LISAs have 42k combined that we're planning to use on our first home purchase In our chosen areas we're looking at a 200-230k sort of price bracket for 2.5 (3 if lucky) bed My question: when we make our mortgage application in 2…
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Moving house - old debt advise.
Hi we are currently thinking of moving house but we have some old debts that we are still paying off. They are no longer in our credit files but we are still paying them by DD each month. I just wondered if this will go against us on our new mortgage application. Would they want to know how much we owe on each one and…
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Offer on house and future mortgage rates
My current one went upto £412 but I offered on a house so it may rise to £830. That’s a large jump but bigger house but my thinking is take a two year deal pay £40 a month more as that could drop to £650 by say 2 years time. Is that a good idea? I usually take a 5 year deal but I feel they say 5 rate drops possible is that…
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Joint-Borrower-Sole-Proprietor Mortgage
My son's landlord is intending to sell the property and he would like to buy it. My son is single and self employed. I'm wondering if we would be eligible for a Joint-Borrower-Sole-Proprietor Mortgage. My own earnings are enough to obtain a mortgage myself, but I would prefer not to be on the title deeds for capital gains…
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Sanity, check please
Hello , so I currently own two properties one is with Santander valued at 8 8, 000 with 4 4, 000 left on the Mortgage. The Mortgage is at 4.2% and fixed for the next 4 1/2 years. Currently my daughter lives in the property and it’s on a consent to let. She will finish university in June at which point the house becomes…
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Property with Solar Panels - Borrowing with Barclays
A colleague has had an offer accepted on a property and has now got a mortgage offer pending going through. One thing that she has questioned now is that the property has solar panels and has heard some lenders do not lend on properties with leased Solar Panels. Does anyone know if Barclays who she is pending with are one…
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HELP - at risk of mortgage offer withdrawal
Can anyone help?? Halifax offer at risk of withdrawal Hi all, I’m new here, but would appreciate some advice at what is a stressful and anxious time. My husband and I applied for a mortgage with Halifax and received our AIP 25th jan, full app went in on 5th Feb and full mortgage offer received 8th Feb (record time!). We’re…
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late service charge
Hi there, I understand the service charge for my flat is going to be late for a month, would you know if this is going to have a huge impact on the flat?
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How important is being on the electoral roll for a long time when applying for a mortgage?
I have an excellent credit score, but when I check my score using the tool provided by my bank, the only negative thing on my credit rating is that I haven't been living at my current address very long. My husband died last year while serving in the Armed Forces. We moved frequently while he was alive due to his job, in…
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Is Mortgage valuation linked to LTV?
Hi All, I want to know if Mortgage Valuation done by the bank is by any how linked to LTV. i.e. if your LTV is high, the bank will value the house leniently as compared to if your LTV is low. I recently applied for a mortgage from two different lenders and both of them value the house exactly my offered price. One of them…
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What do you understand/know now, that you didn't when younger?
Only in the last few years have I started to understand the 'admin' of money better. I suspect (or hope..) I'm not the only one... Whether pensions, savings, tax or mortgages there are some things I wish I understood better when younger. Hacks if you will. My experience has come at a price of lack of knowledge, laziness or…
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Lifetime Isa fees for over 450K property
Hi all, I wonder if anyone could kindly shed some light for me. We're first time buyers and have some of our deposit saved in Lifetime ISA. It is my understanding that we can only use our isa deposit only for properties below 450K otherwise we get charge and loose certain bonuses. We've seen a property of 500K that we…
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Santander Remortgage Rate
I’ve had my current mortgage with Santander for a couple of years if a rate of 2.16% (85% LTV). My product is due to expire in September and the new rate is currently available at 5.59% (80% LTV). Do we think the rates are going to reduce before September? Or should I just secure the current rate now? Appreciate your…
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MORTGAGE PRISONER COMPENSATION - NORTHERN ROCK
I have received a letter from the Financial Claims Office stating that Northern Rock had involuntarily made me into a Mortgage Prisoner following the bank's nationalisation in 2008. They contacted me by letter to state they could assist me with a review of my previous Northern Rock mortgage in order to recover any…
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Mortgage in two parts - options when fixed rate ends on one part?
I have a mortgage in two parts:Part 1 is £150k at a rate of 1.19% fixed until April 2024 (this was ported from my old property)Part 2 is £400k at a rate of 2.19% fixed until August 2027 I've been holding off on getting a new deal on Part 1 hoping the BoE would annouce a rate drop last month but here we are. The best deals…
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Commercial Mortgage Help please
How can I buy a commercial property with as little money down as possible. The building is currently used as an office. Annual rental income of £30,000. Last valuation was for £380,000 in 2022. Planning permission for changing to a residential property is currently going through (and might not happen). Similar resi on the…
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MSE guide: Interest-only mortgages
This is the discussion thread for the Interest-only mortgages guide. The guide tackles topics such as: - How interest-only mortgages work - Who can get one - How much they cost - How to reduce the cost of an interest-only mortgage - What to do if you can't repay an interest-only mortgage If you haven't already, join the…
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Overdraft limit and getting mortgage
I currently have a £5000 overdraft on my longest standing account. I never use this and don’t need it but I’ve not removed it due to the fact that I read that it can show badly on my credit file like the bank has removed it. I just want to ask if it really is seen like this? Also I am planning to apply for a mortgage in…
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Halifax mortgage offers - valuation booked
Hello 🙂 First timer poster but i follow these groups and always find the info really helpful so here goes… My partner and I put in our joint mortgage application last wednesday with halifax via a broker, all checked done and valuation was booked in on friday, for tomorrow 20th march How soon after valuation can we expect…
