http://www.moneysupermarket.com/community/forums/mortgages-5.aspxenCommunityServer 2.1 (Debug Build: 0.5)http://www.moneysupermarket.com/community/forums/t/short-term-mortgage-loan-lt-2-years-39881.aspxTue, 24 Nov 2009 12:53:25 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169554Expat-in-Germany2http://www.moneysupermarket.com/community/forums/t/short-term-mortgage-loan-lt-2-years-39881.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169554 I live and work in Germany and am just 2 years away from Retirement. I have a healthy amount of capital (approx. 110k) but this is a little limited to buy a suitable home in the UK in which to retire. I have 4 B2L properties (all currently rented) and I still have some equity in these at even today's prices. I would like to sell these but my Estate Agent is advising me to wait until at least May/June and it may then still take a while. I do have other lump sums I am due from my employer, either on my retirement or before, and I currently earn a six figure salary. I would like to buy a retirement property in the UK in the next 6 months so that I can start to phase my return to the UK but my advice, so far, has been that a mortgage of less than 3 years is not possible - and, of course, my salary will cease before then. (Actually, it is possible I could be retained on a separate contract after that but this is not certain). Is there any way of borrowing up to 40% of the cost of a house for a very short period without paying extortionate interest rates and/or excessive arrangement fees. http://www.moneysupermarket.com/community/forums/t/nationwide-mortgage-39880.aspxTue, 24 Nov 2009 11:20:39 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169542kwo843http://www.moneysupermarket.com/community/forums/t/nationwide-mortgage-39880.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169542 Hi, Just wondering if anyone had any experience of getting a Nationwide Mortgage with not so good credit. Back in August I was declined for a mortgage with Woolwich due to something "detrimental" on my credit file. I looked at my file and found a default from o2 for £26. This was queried with o2 and removed. Since August I have paid off most of my outstanding credit accounts and my credit score has gone from 563 to 999 I have a 6 late payments in the last year and I am not currently on the Electoral Roll at my address (council's fault!) I have been with Nationwide for the last 7 years and we would like to stay with them for a Mortgage. Anyone else had any problems getting a mortgage with Nationwide? Thanks http://www.moneysupermarket.com/community/forums/t/bridging-loans-37084.aspxTue, 28 Jul 2009 11:59:32 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:158073soha311http://www.moneysupermarket.com/community/forums/t/bridging-loans-37084.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=158073I have £110,000 in cash to pay to a new property which is priced at £180,000.I also have my property which I think will sell for £120,000 but still have to put on market.I need a loan of £60,000 if my property does not sell in timescale as I do not want a mortgage.Can you advise on best loan type and Bank charges available?. http://www.moneysupermarket.com/community/forums/t/shared-equity-mortgage-38442.aspxTue, 22 Sep 2009 13:05:26 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:163860DAN2004771http://www.moneysupermarket.com/community/forums/t/shared-equity-mortgage-38442.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=163860 Hi, I am currently renting a property in Scotland. We would like to buy the property, however we do not have a deposit saved. The owner of the property would be willing to take a shared equity in the house to enable us to make the purchase, is that possible. So the value is £500,000, and we will buy 70% of the property for £350,000. The current owner (Private not a contractor) will retain 30% equity until we sell the property. Is this legal? and if so can i get a mortgage on that basis? Thanks Dan http://www.moneysupermarket.com/community/forums/t/short-term-remortgage-38440.aspxTue, 22 Sep 2009 12:41:51 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:163858curius1http://www.moneysupermarket.com/community/forums/t/short-term-remortgage-38440.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=163858Trying to downsize in flat market without much success and have seen a property I would like to buy, dont want to lose it so is it worth remorgaging present property to fund new purchase and repay quickly - I am 59 years old with joint income of £41000 and would need to borrow £135000 (against current value of £180000) at max repayment of say £1,100 per month with full repayment after say one year ?????http://www.moneysupermarket.com/community/forums/t/ftb-foreign-national-85-ltv-offer-accepted-39812.aspxFri, 20 Nov 2009 01:15:34 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169169algin82http://www.moneysupermarket.com/community/forums/t/ftb-foreign-national-85-ltv-offer-accepted-39812.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169169 Hi everyone I am a FTB/self employed/higher rate taxpayer whose offer has been accepted for a property under 250K. I can arrange 15-18% deposit and am making a joint mortgage appl with my wife (non-taxpayer/gets basic pay £6k/yr frm admin work in my business). we are foreign/non EU nationals and wont get permanent resident status until feb 2011 so many lenders wont consider us. However we hav good credit history & the following lenders have agreed to lend us a mortgage: (i am only after tracker rates) 1. hsbc lifetime tracker , 90% LTV, 4.89%, £999 arr fee, 192 val fee, unlimited overpayments allowed, can switch to other deals/providers anytime(no tie-in) 2. halifax purchase 2 yrs tracker, 85% LTV, (4.44% 1st yr + 4.94% 2nd yr), £995 arr fee, £430 val fee, £245 mortgage acc fee, 10% overpayments allowed, tie-in for 2 yrs 3. Nationwide flex acc tracker, 90% LTV, 4.63%, £896 resrv fee, val fee £??, £500/month overpay allowed, tie-in 2yrs and must transfer present current acc to nationwide! we are thinking to go for hsbc lifetracker as it offers unlimited overpays and also there are no tie-ins (esp.relevant for us as we can switch to a better deal available once we get perm resident status early 2011). Kindly help/advice if we are taking the rigth steps or does any1 know of any other better deals out there, considering our circumstances! Your help will be much appreciated. http://www.moneysupermarket.com/community/forums/t/combining-2-flats-and-2-mortgages-39851.aspxSun, 22 Nov 2009 21:54:10 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169365weekermit1http://www.moneysupermarket.com/community/forums/t/combining-2-flats-and-2-mortgages-39851.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169365 My fiance and I both have our own flats in Scotland and therefore our own mortgages. At present we are trying to let out his flat but no joy so far. We are getting married next year and are moving into Army accomodation and we don't know the best thing to do with the mortgages. Should we both get put on each other's mortgage? Or does this cause problems with 2nd home legislation/tax? Should we sell his flat at a loss and get him put on my mortgage. It is all so complicated and adding to the wedding stress! Any advice? http://www.moneysupermarket.com/community/forums/t/open-market-equity-scheme-scotland-39567.aspxTue, 10 Nov 2009 11:59:29 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168252jeannieb7http://www.moneysupermarket.com/community/forums/t/open-market-equity-scheme-scotland-39567.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168252 My husband and I are pensioners,and live in a high rise flat which we bought with our savings . The flats were to be refurbished,and we were happy to have this done as there are problems with water penetration There are a lot of other elderly residents in the block who have lived here for years. The council however,have decided that the way forward is demolition,and building new flats,of which we will be able to purchase an equity depending on the valuation they put on our flats. At the moment they are talking figures of £30K .The demolition/rebuilding will take up to 10 years to complete,as there are 12 blocks in total in the area. We dont know whether we will be first or last,but do know that there will be a lot of stress,as we will be decanted out,other tenants will be decanted in etc,depending on where we come in the scheme.We have some savings which we could use to buy a house,but as we cant get a mortgage,we cannot find anything suitable,as we don't have enough.. If we used our savings to buy a property using the open market equity scheme,would they take the proposed value of the flats in to consideration? It would mean we have no nest egg or savings if they did this.No one seems to know the answer I have asked the local estate agent but they just said it was means tested and they take everything in to consideration Another one told us that as we would be eligible for an equity share in the new build flats,then this should apply to a property on the open market as well,and as long as we could pay the equity share then they wouldnt take the sale of the flat in to consideration.Our total pensions come to £1300 a month,so we cant afford to lose the money from the flat .We have applied for Council housing,but until there is an actual demolition order on this block of flats,then we don't have enough points for anything decent. Hope someone can advise us. Thanks Jean http://www.moneysupermarket.com/community/forums/t/consolidating-2-mortgages-39807.aspxThu, 19 Nov 2009 21:01:30 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169152seasider723http://www.moneysupermarket.com/community/forums/t/consolidating-2-mortgages-39807.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169152 I currently have two mortgages with the same mortgage lender, for two seperate properties. The 1st property is the house I currently live in and has 5 years left on a mortgage with an outstanding value of £65,000. The current house value is ~ £400,000. The 2nd property is one I purchased last year and has a 25 year mortgage with an oustanding value of £102,000. My intention was to knock down the 2nd property (as it is in a very dilapidated state) and perform a self build, which would cost around £350,000. The mortgage lender in question knew of this when I took the 2nd mortgage out on the house, but have now turned round and said I cannot knock the building down until I repay the full £102,000 mortgage on it, and, they no longer offer a self build mortgage so I cannot transfer to that with them. My dilema is therefore do I sell my first house to pay off both mortgages, so that I can fund the self build myself or do I remortgage the 1st house and take some equity out of it to pay off the mortgage in full on the 2nd house and then take out another mortgage for the self build? What are my best options? I would prefer to keep my 1st house if possible as an investment for the future. Thanks http://www.moneysupermarket.com/community/forums/t/mortgage-vs-credit-score-39810.aspxThu, 19 Nov 2009 22:57:23 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169160Dav31http://www.moneysupermarket.com/community/forums/t/mortgage-vs-credit-score-39810.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169160 Good Evening Everyone, I would like some advice about credit score with mortgage applications. In Feburary this year i applied for a mortgage but unfortunately got turned down. My Experian credit score was at 650 and i have two default accounts. However i have just checked my score and its reading 792 (woohoo). I was wondering if anyone was able to get a mortgage on this score with defaults. My defaults clear in April 2011. Many Thanks Dave http://www.moneysupermarket.com/community/forums/t/leasing-house-with-mortgage-39534.aspxMon, 09 Nov 2009 07:34:57 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168118Pocky8http://www.moneysupermarket.com/community/forums/t/leasing-house-with-mortgage-39534.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168118 Last year about this time, I lost my job after having just renewed my mortgage. However, not being able to find a job in the UK, I went overseas and rented my place out. A year later I'm still overseas and it doesn't look like I'll be coming back anytime soon. Unfortunately, it never occurred to me that this was something I had to tell my bank about. I have since found out that I should have told my bank, although they don't know about it yet. Now I'm worried that if I do tell them, they will withdraw the mortgage as this particular bank doesn't do "buy to let", although this isn't actually what I planned to do. I do intend to return to the UK at some point, but for now all I can do is rent it out to pay the bills. Any advice on what I should do? The stress is starting to get to me. http://www.moneysupermarket.com/community/forums/t/ftb-joint-mortgage-or-not-39768.aspxWed, 18 Nov 2009 12:42:04 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168991Nazli5http://www.moneysupermarket.com/community/forums/t/ftb-joint-mortgage-or-not-39768.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168991Hi all, I am a first time buyer and thus I don’t know much about mortgage market. My husband and I want to buy our first house within the next one or two months. We have two different strategies and we don’t know which one works better. Our aim is to buy a property to live in and buy another one as an investment property after a year or so. Our first option is to buy our house based on my husband income only and put an individual mortgage application in and then we can buy a “buy to let” property based on my income in the next year or so. The second strategy is to buy our house based on both incomes and then apply again together for another mortgage after one year or so for a buy to let property. My concerns are: 1. Which option is better in terms of mortgage application, would it be easier to apply for BTL mortgage if I don’t have any mortgage or if I do have liabilities for our residential mortgage 2. Is any of these options better in terms of taxes? Many thanks in advance for your help Kind regards Nazli http://www.moneysupermarket.com/community/forums/t/ftb-offer-has-been-acceptedltv-36-39683.aspxSat, 14 Nov 2009 11:17:11 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168678Clarence16http://www.moneysupermarket.com/community/forums/t/ftb-offer-has-been-acceptedltv-36-39683.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168678 Hello I'm a ftb and an offer I made has been accepted. The offer is £109,750, I'll have a deposit of £70,000 which will give me a ltv of 36%. I was given an aip of £40,000 a few months ago when I first started searching for a house, I could of got more but I didn't want to over stretch myself. Anyway I am looking for a good mortgage offer, I'm thinking a fixed rate of 5 yrs - I'm hoping to pay the mortgage off within 8-10yrs. My monthly net income is £1800. Could anyone please advise me on what are the best offers for ftb's with such a small ltv, also including that I want to pay the mortgage off with the next few years. Thanks http://www.moneysupermarket.com/community/forums/t/fixed-ratetracker-39781.aspxWed, 18 Nov 2009 16:53:11 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169039twinmum1http://www.moneysupermarket.com/community/forums/t/fixed-ratetracker-39781.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169039 Hey all! We are looking to move and increase our mortgage and the best deals we can get, as we only have a 15% deposit, are 6.19% for a two year fixed rate or 4.79% for a two year tracker? Obviously the tracker looks the best deal and the repayments are £300/£400 cheaper per month (at the moment). My query is what do people think about tracker deals now, do you think the interest rate is likely to increase over the next two years? I know I'm expecting people to have a crystal ball :-) but I'm just interested in general opinion. Thanks twinmum http://www.moneysupermarket.com/community/forums/t/best-way-to-sort-out-2-mortgages-39778.aspxWed, 18 Nov 2009 14:48:14 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:169018audrey81http://www.moneysupermarket.com/community/forums/t/best-way-to-sort-out-2-mortgages-39778.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=169018 I am currently stayin in a rented property from my sister. She is looking to sell the property I am in but would prefer me to buy it. Is she able to re-mortgage and supply me with deposit for her then to sell or is there an easier way of doing this? http://www.moneysupermarket.com/community/forums/t/first-time-buyer-advice-please-39765.aspxWed, 18 Nov 2009 11:43:46 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168984knowlittle2http://www.moneysupermarket.com/community/forums/t/first-time-buyer-advice-please-39765.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168984Hi all, I'm a first time buyer, basically a mortgage novice! I have decided with my girlfriend that we should step on the ladder and any advice would be appreciated. We have a good lump sum we can use as a deposit and with the help of our families we should be able to aim at a 70% mortgage. Given the current rates, I think it'd be a shot in the foot to go for a fixed rate mortgage (let's say 5%). I don't think interest rates will go up significantly in a couple of years and after that fixed mortgage products will convert to a variable rate anyway. I am considering the Barclays Woolwich lifetracker product: Barclays basic rate + 2.27%, currently 2.77%. Although I am planning to apply for a 15 year mortgage, I think we can significantly lower the outstanding balance after the early repayment charge period 31/01/2012. I have checked with Barclays and there's no charge nor limit to overpayment after 31/01/2012. I know my guess on interest rates is good as anyone's but, sticking to it for a second, I would be able to benefit from the low rates for the next 2 years and avoid nasty surprises by making a free big overpayment in case the rates hit the roof in the future. I know I need to get independent mortgage advice but I was wondering whether the forum can add something I am not considering perhaps. We have permanent jobs, clean credit history and deposit. Is the lifetracker the best option? Thanks for any advice. Khttp://www.moneysupermarket.com/community/forums/t/mortgage-direct-debit-has-been-altered-39734.aspxMon, 16 Nov 2009 17:28:08 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168838Bristolred2http://www.moneysupermarket.com/community/forums/t/mortgage-direct-debit-has-been-altered-39734.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168838 Hi, Please excuse my lack of knowledge when it comes to mortgages but I did think I understood how a tracker worked. Basically I took out a smallish tracker 2 years ago for £10,000. I've been paying £70.47 a month ever since. When the base rate was higher part of the £70.47 was paid off from the total and the rest interest? In the first year only £200 odd quid frm £700 odd paid was actually paid off the total. Last year with the base rate rock bottom nearly all the money we paid came of the total and the interest they got was virtually nothing. So why is it then, that my Direct Debit without warning has been dropped down to £47 this month? I'm confused as I would have thought paying the £70 odd would be more benificial at the moment i.e. more off the total when the base rate is low? Anyone got any idea? Thanks in advance. http://www.moneysupermarket.com/community/forums/t/equity-release-loan-noncommercial-family-arrangem-39735.aspxMon, 16 Nov 2009 20:18:29 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168851Mike G4http://www.moneysupermarket.com/community/forums/t/equity-release-loan-noncommercial-family-arrangem-39735.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168851 I guess in this current economic environment, my parents can't have been the first people to look at equity release as the value of their savings and investments drops dramatically. Downsizing with the current property market as it is does not seem a sensible option. When they told me about this and the best rate and flexibility they could get from a commercial organisation it occured to me that I could lend them the money and it would be financially advantageous to both of us. According to the salesman of the scheme they were considering, it is quite common for this to happen. These are the issues that I need to resolve to get the arrangement in place. Would anyone like to comment on any of the points or anything I have missed? Both my parents and I are keen that the arrangement is on a fair and business-like footing to avoid any future problems. o Interest rate - to be fixed annually on a set date based on the best available savings rate on MoneySupermarket.com. Need to find suitable wording to express how the interest rate is applied. o Repayment clause - on the sale of their family home (either when they move or on death) o Contract - I am still looking for a suitable template to buy. Most relate to a lump sum loan. Not such a scheme where I lend a monthly sum and a lumpsum with no repayment until the house is sold. o Type of loan - fixed monthly allowance (plus 2% annual increase) plus option to borrow one lumpsum during the period. All interest and capital to be accrued o Tax implications - the contract will be between my wife (currently a non-tax payer - all of our savings are in her name) and my mother. When the loan is repaid it is likely that there would be a tax liability for her. To minimise this we are considering whether to look a repayment over 3 tax years to minimise likely impact. The interest earned over the 10 years is ~ Thoughts very welcome here!! o Avoiding family disputes - My sister is aware of my parents intentions to set up a scheme (and its impact on her/our inheritance) but we will only tell her that it is me lending the money once all the arrangements are made. Explaining that this arrangement benefits her because a greater inheritance will be left than using a commercial organisation. Other information (if necessary): o They only have a small mortgage (less than 10% LTV). We expect the arrangement to last no longer than 10 years (my parents are 75 and expect to downsize by then) and the combination of the monthly loan plus a lumpsum in year two to repay the mortgage would represent ~20% of the current LTV of the property. o I see the loan as part of a long term savings plan for my 2 daughters (3 & 5) for university, weddings and housing deposits. As well as for my older sons but I will probably need to set up additional arrangements for their needs as they are 11 & 9 and I may need access to the savings within the 10 years. o The loan is affordable for me ( less than 15% of what I save each year) plus the lumpsum is ~20% of my expected cash savings (bonds etc) that I will have in 2 years time. However we have (verbally agreed - and to be written into the contract) that I can cease payments at anytime and they can then revert to looking at a commercial organisation or downsizing if my financial circumstances deteriorate. Thanks very much in advance, Michael http://www.moneysupermarket.com/community/forums/t/how-long-to-repair-credit-history-for-ftb-39716.aspxSun, 15 Nov 2009 23:55:56 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168773terialc1http://www.moneysupermarket.com/community/forums/t/how-long-to-repair-credit-history-for-ftb-39716.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168773 Hi, Ive been at uni for the last five years and accrued in that time about 10k of debt. The main problem was I often paid bills and loan payments late which I know ruined my credit rating. Whilst I didnt get any defaults or CCJ's, on a number of occassions I got refused further credit. I qualified in June and since then have cleared most of my debt and paid everything perfectly, even managing to save quite a considerble sum which I would like to use as a deposit for a house. My question is how long do I need to repair my credit history before I apply for a mortgage? I appreciate this might be a 'how long is a piece of string question' but I have had a number of different answers and dont want to apply only to get refused and thus making things worse. Many thanks http://www.moneysupermarket.com/community/forums/t/mortgage-at-my-age-39678.aspxFri, 13 Nov 2009 19:12:49 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168644redwine3http://www.moneysupermarket.com/community/forums/t/mortgage-at-my-age-39678.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168644 I own an old house, no mortgage. I would like to buy a lovely new home I am 56 and male. can I get a mortgage at my age i have 40000 dept. http://www.moneysupermarket.com/community/forums/t/flats-conversion-to-house-32971.aspxMon, 16 Mar 2009 21:47:42 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:142649Jim_Buster3http://www.moneysupermarket.com/community/forums/t/flats-conversion-to-house-32971.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=142649 Hi, We're looking at buying a Victorian house which is currently in the form of 2 flats and converting it back into a house. An initial discussion with a mortgage provider seemed to indicate that getting a mortgage may be difficult - the view was that by converting the flats back to a house the value may decrease and therefore certain providers may be unwilling to lend. The house is leasehold with 999 yrs. We have a 25% deposit. The flats have separate title deeds. The provider indicated that if the house had a single title deed a mortgage could be lent. Can you recommend a provider who could lend under such circumstances? Also, if we are able to buy both flats and each is under £175k will we still be exempt from stamp duty even if it is our intention to convert them back into a house? Many thanks http://www.moneysupermarket.com/community/forums/t/20-deposit-for-2nd-home-but-im-on-another-mortgag-39548.aspxMon, 09 Nov 2009 13:10:45 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168161jamescolder2http://www.moneysupermarket.com/community/forums/t/20-deposit-for-2nd-home-but-im-on-another-mortgag-39548.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168161 hi all, me and my girlfriend have decided to buy a house together but i am still on the mortgage at my current property (half of the mortgage which is £60,000) now ive found a house that i like its worth £110,000 and i have a dposit of 20% is this enough i currently earn about £25,000 and my girlfriend earns £13,000 but she is a first time buyer we are both 23 so still got a long time to pay mortgage off and also i have a private pension where when i retire ill recieve £60,000 lump sum plus a private pension do mortgage providers take this into account? Thanks James http://www.moneysupermarket.com/community/forums/t/process-of-first-move-of-mortgage-39606.aspxWed, 11 Nov 2009 17:03:13 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168425House_Hunter4http://www.moneysupermarket.com/community/forums/t/process-of-first-move-of-mortgage-39606.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168425 Hi all after a bit of an explanation really, We recently bought our first house and got a mortgage on a fixed term deal for 3 years. Now the house is a renovation project and we are expecting therefore to have added value to the house by the time we come off the fixed rate period. How does the process then work if we say want to move our mortgage to a new lender and a new deal? Do they just look at the "old" price we paid for the property and the amount outstanding - or is there a completely separate valuation process performed? The reason I ask is that we are currently planning to begin regular overpayments, and I am trying to calculate (using our mortgage amortization schedule) how much we need to overpay in order to make sure we reach the next LTV bracket by the time out fixed rate ends to get a better deal... Before the comments come flooding in - obviously I understand that prices may fall/rise and hence there is a market environment overprint to this discussion as well... Hope that makes sense!! http://www.moneysupermarket.com/community/forums/t/age-limit-on-mortgage-39647.aspxThu, 12 Nov 2009 20:26:31 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168569jeff_uk4http://www.moneysupermarket.com/community/forums/t/age-limit-on-mortgage-39647.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168569 Hi I am in my mid-forties and have always rented all my life (crazy I know). Earlier this year I separated from my partner as we both used to rent a place. I now would like to try and get a mortgage, something I sincerely wished I'd done years ago. Is this a crazy idea for someone my age? I just wondered what the general consensus on this was. Regards, Jeff http://www.moneysupermarket.com/community/forums/t/second-property-39602.aspxWed, 11 Nov 2009 14:21:35 GMTd60303e3-0d44-49ad-b329-9875dfa2f932:168414ElaineMarie1http://www.moneysupermarket.com/community/forums/t/second-property-39602.aspxhttp://www.moneysupermarket.com/community/forums/commentrss.aspx?SectionID=5&PostID=168414 Wondered if anyone had any advice on this predicament. Got a house worth £140K which can't sell at present. Starter home. Reasonable condition. Own outright. Would like to buy a property at £260. Without money from starter home will have a 10% deposit only and have to get a mortgage to cover the rest. Would rent out the starter home approx rental £500 pm after tax etc. My question is, what sort of mortgage would we be able to get based on renting out the starter home until we can sell it, would we get a preferential one based on the fact that we already own a property which we could use to secure a mortgage? I have no idea if this is feasible, I think the mortgage would cost too much but appreciate any ideas. Elaine