Mortgages & Endowments

A question about : Can I switch to a buy to let??

Hi There

I am currently on a consent to let deal with the Halifax, with a tracker deal which is currently set at 6.1%. I have a mortgage of around Ј104,000 and I believe the house valuation to be around 120-125k. Rental income is Ј550, and mortgage payments of Ј520 interest only. Would it be possible for me to switch to a BTL mortgage, I have no money I can put down as a deposit?. if it is possible would it be beneficial for me to switch? Thanks

A question about : Overpaying impact on monthly payments

I own my first house which I bought with a long term partner who then proceeded to fall to bits with the responsibility of home ownership and general grown up life. As a result I bought him out and now have quite a large, although manageable, mortgage with about 5 years of a seven year fix left to run.

A question about : Property value

Hi All,
This post is related to another post I have on the forum. Brief background - I agreed a purchase price of Ј155k for a property. The lender have valued the property at Ј147k.

Does this mean the purchase price on legal paperwork etc would how as Ј147k or Ј155k?

Sorry if this is a silly question - I seem to be getting a lot of conflicting advice.

Thanks

A question about : What information to give IFA?

Hello all,

I'm in the process of securing a new mortgage and have selected an IFA I wish to use. I have given the basic information already and will soon be seeking an AIP.

What sort of information will they require and is there anything I should NOT be telling them? Is it reasonable to want to know bank account numbers and employee/payroll numbers?

Any advice on this next stage of this process would be greatly appreciated.

Many thanks.

A question about : Advice needed please! How to finance a house extension

Hi guys, wondered if you could help with some advice.

We've found a freehold property we'd like to purchase for Ј28k, and we're looking to spend around Ј15k on the property (for renovation and extension/ separate garage etc).

Is it best to take out a mortgage for the property, then look at the cheapest loans for the works, or are there other options?

Many thanks for any help!

A question about : Mortgage application while on probation

Hi my son is in his existing house, but needs to remortgage to remove his partner off the property. The house is worth 150k and the mortgage left on property is 120k.
He can only borrow 114k on his wages, so thought he would bring his sister in on the mortgage to make up the difference.
The problem is that she is 2 months into her probation period which I have heard might be a problem.
Any ideas?

He needs to sort this before the probation period ends!

Cheers

Warden8632

A question about : Waiting to exchange

Everything is done valuation searches, mortgage agreed but is at final checks waiting to be issued to offer. So nervous at the mo....
Anyone know how long it takes to be issued and sent out, BTW it's with the mortgage works.
Thanks

A question about : Is switching bank account going to affect my mortgage application

Hi,

I am thinking of closing my bank account from HSBC and switching to Halifax, as they offer Ј125.00 to switch.

I will be applying for mortgage at the end of this year and was wondering if I switch to Halifax-this will mean that I will be with my new bank for less than a year, does anyone know if this is going to affect my mortgage application?

Many thanks

Tatiana