Remortgage Houses Answers
my son split with his partner and had to remortgage his house,after paying the usual expences and utilities he?
Q. as PS20.00 left from his wages to live on. can any one tell him if he can get, any social benefit. or any advice that would help him cope with his situation . thank you.happy new year to any readers .
Asked by marlene - Tue Jan 4 09:56:10 2011 - Marriage & Divorce - 2 Answers - Comments
Q. as PS20.00 left from his wages to live on. can any one tell him if he can get, any social benefit. or any advice that would help him cope with his situation . thank you.happy new year to any readers .
Asked by marlene - Tue Jan 4 09:56:10 2011 - Marriage & Divorce - 2 Answers - Comments
Can you remortgage on one home to fund deposit for another?
Q. We have a 50% share in a second house (inherited from parents) it has no outstanding mortgage. Is it possible to remortgage this house to fund a deposit on a bigger house for us and basically apply for two mortgages for two different properties at the same time?
Asked by Ainsley C - Wed Aug 25 17:43:56 2010 - Personal Finance - 2 Answers - Comments
A. Yes. It is quite possible. I'd suggest you get advice from a mortgage broker as there may be more cost-effective ways.
Answered by - Wed Aug 25 18:08:51 2010
Q. We have a 50% share in a second house (inherited from parents) it has no outstanding mortgage. Is it possible to remortgage this house to fund a deposit on a bigger house for us and basically apply for two mortgages for two different properties at the same time?
Asked by Ainsley C - Wed Aug 25 17:43:56 2010 - Personal Finance - 2 Answers - Comments
A. Yes. It is quite possible. I'd suggest you get advice from a mortgage broker as there may be more cost-effective ways.
Answered by - Wed Aug 25 18:08:51 2010
I am trying to remortgage my house the instatution i am going through says fredy is not allowing me to use my?
Q. I am trying to remortgage my house the instatution i am going through says fredy is not allowing me to use my first appraisal .how can i check this & make it work?
Asked by joe kid - Sun Oct 17 17:00:01 2010 - Renting & Real Estate - 2 Answers - Comments
A. Freddie used to allow you to use your original appraisal if you were simply refinancing your existing balance, but too many homes have decreased in value so they no longer allow that. In addition, if you are trying to take cash back on a home you have owned less than one year, they will use the lesser of purchase price or current appraised value even if it appraises for more than you paid for it. At present, there is no way around this with a conventional mortgage. FHA will lend up to 97.75% of current appraised value without cash back, and up to 85% with cash back but those will have monthly PMI if your term is longer than 15 years.
Answered by - Sun Oct 17 18:29:05 2010
Q. I am trying to remortgage my house the instatution i am going through says fredy is not allowing me to use my first appraisal .how can i check this & make it work?
Asked by joe kid - Sun Oct 17 17:00:01 2010 - Renting & Real Estate - 2 Answers - Comments
A. Freddie used to allow you to use your original appraisal if you were simply refinancing your existing balance, but too many homes have decreased in value so they no longer allow that. In addition, if you are trying to take cash back on a home you have owned less than one year, they will use the lesser of purchase price or current appraised value even if it appraises for more than you paid for it. At present, there is no way around this with a conventional mortgage. FHA will lend up to 97.75% of current appraised value without cash back, and up to 85% with cash back but those will have monthly PMI if your term is longer than 15 years.
Answered by - Sun Oct 17 18:29:05 2010
i go on the deeds of the house in replacement of my parents can i apply for a remortgage on the house?
Q. okay i'm 21 and british, my parents have applied for the remortgage but got turned down due to adverse credit status, the house is in need of some serious home improvements and we need around a 30k remortgage to get the whole place renovated, if I went on deeds in place of them and applied myself would this work in getting the money? (they would still handle the repayments) can I do this or do you have any other tips on how to get the money? thanks okay i'm 21 and british, my parents have applied for the remortgage but got turned down due to adverse credit status, the house is in need of some serious home improvements and we need around a 30k remortgage to get the whole place renovated, if I went on deeds in place of them and applied… [cont.]
Asked by Martyn B - Fri Oct 16 11:58:14 2009 - Other - Business & Finance - 1 Answers - Comments
Q. okay i'm 21 and british, my parents have applied for the remortgage but got turned down due to adverse credit status, the house is in need of some serious home improvements and we need around a 30k remortgage to get the whole place renovated, if I went on deeds in place of them and applied myself would this work in getting the money? (they would still handle the repayments) can I do this or do you have any other tips on how to get the money? thanks okay i'm 21 and british, my parents have applied for the remortgage but got turned down due to adverse credit status, the house is in need of some serious home improvements and we need around a 30k remortgage to get the whole place renovated, if I went on deeds in place of them and applied… [cont.]
Asked by Martyn B - Fri Oct 16 11:58:14 2009 - Other - Business & Finance - 1 Answers - Comments
Can you get a remortgage on an unregistered property without registering the house or charge?
Q. My friend wants to sell her house and I want to buy it. Her husband acquired it in 1978 and deeds to an adjacent property verify his name in relation to my friend's home. He could've given the deeds to my friend when they split up. The actual house is not registered and the land registry told me that it can't have a recent mortgage on it as the property and the charge would be registered. All they have is the plan. My friend swears she has a mortgage on it that she took out recently because she says she cannot sell until after May due to redemption penalties. She is American and the house is in England. Would any lender, including US ones, be prepared to release funds on a house without doing the proper checks and legal work? She says the… [cont.]
Asked by Nikkiw - Sat Jan 6 12:38:22 2007 - Renting & Real Estate - 2 Answers - Comments
A. Since 1998, the creation of a first mortgage on an English house has triggered first registration. However, it is possible to create a second or further charge and not trigger first registration. Maybe a second charge was created, then subsequently the first was paid off and the deeds transferred to the second lender? If the lender has the deeds they may consider that they have enough security and they may be prepared to release funds, but it's unusual to do this without a proper legal charge. If she is preparing to sell, she should ask her lender to provide copies of her deeds to show to the sellers. She may even consider voluntary first registration - it may be easier to sell a registered title. Also, make 100% certain that the house is… [cont.]
Answered by in vino veritas - Sat Jan 6 14:07:01 2007
Q. My friend wants to sell her house and I want to buy it. Her husband acquired it in 1978 and deeds to an adjacent property verify his name in relation to my friend's home. He could've given the deeds to my friend when they split up. The actual house is not registered and the land registry told me that it can't have a recent mortgage on it as the property and the charge would be registered. All they have is the plan. My friend swears she has a mortgage on it that she took out recently because she says she cannot sell until after May due to redemption penalties. She is American and the house is in England. Would any lender, including US ones, be prepared to release funds on a house without doing the proper checks and legal work? She says the… [cont.]
Asked by Nikkiw - Sat Jan 6 12:38:22 2007 - Renting & Real Estate - 2 Answers - Comments
A. Since 1998, the creation of a first mortgage on an English house has triggered first registration. However, it is possible to create a second or further charge and not trigger first registration. Maybe a second charge was created, then subsequently the first was paid off and the deeds transferred to the second lender? If the lender has the deeds they may consider that they have enough security and they may be prepared to release funds, but it's unusual to do this without a proper legal charge. If she is preparing to sell, she should ask her lender to provide copies of her deeds to show to the sellers. She may even consider voluntary first registration - it may be easier to sell a registered title. Also, make 100% certain that the house is… [cont.]
Answered by in vino veritas - Sat Jan 6 14:07:01 2007
Is it possible to remortgage on the the value the house will be worth after work is carried out?
Q. My house is currently worth PS85,000. I am aware it would be worth substantialy more if certain work was done. As the house was in poor condition when I bought it & needed more doing to it than originally anticipated I ended up securing a loan on the property as well as taking out a personal loan to do up the house which I manage perfectly well to pay each month. Even so, there is still alot that needs be done & I have run out of funds. I am considering remortgaging to complete the work but if I was to do this I would think it sensible to clear my outstanding debts at the same time & at my houses current value it wouldnt be possible to do both. Is it possible for me to get a valuation of my property based on what it would be… [cont.]
Asked by Chell - Tue Jul 8 04:47:09 2008 - Renting & Real Estate - 6 Answers - Comments
A. Yes you can However it is normal for the extra value to be retained until the improvement work is carried out. eg if worth 85K now but 100K after improvements then you will find that 15K is retained and only handed over when work satisfactoily completed
Answered by ascoile - Tue Jul 8 04:51:39 2008
Q. My house is currently worth PS85,000. I am aware it would be worth substantialy more if certain work was done. As the house was in poor condition when I bought it & needed more doing to it than originally anticipated I ended up securing a loan on the property as well as taking out a personal loan to do up the house which I manage perfectly well to pay each month. Even so, there is still alot that needs be done & I have run out of funds. I am considering remortgaging to complete the work but if I was to do this I would think it sensible to clear my outstanding debts at the same time & at my houses current value it wouldnt be possible to do both. Is it possible for me to get a valuation of my property based on what it would be… [cont.]
Asked by Chell - Tue Jul 8 04:47:09 2008 - Renting & Real Estate - 6 Answers - Comments
A. Yes you can However it is normal for the extra value to be retained until the improvement work is carried out. eg if worth 85K now but 100K after improvements then you will find that 15K is retained and only handed over when work satisfactoily completed
Answered by ascoile - Tue Jul 8 04:51:39 2008
sell remortgage or rent?/???
Q. have a house which we have completly renovated!had i valued and made48% equity!! the dilema is that things went a little wrong a while ago and now our credit rating is poor although we have a large sum to put down our bank will not give us another mortgage! so we went to a lender specialising in our situation. the apr is high and will still be in debt with a larger mortgage!! would you remortgage your house sell up make profit and rent or sit on it and pay debts of (approx 4yrs left on them owing approx 20,000!!! ahhh!!!
Asked by lubilu82 - Tue Aug 15 17:15:50 2006 - Renting & Real Estate - 9 Answers - Comments
A. I'd sell, pay off the debts, rent for 2 years, save up again, move somewhere cheaper and buy, or buy a fixer in the area you desire and can afford. Right now it is a buyers market, interest will rise more too. Sell, pay off and sit back and watch the market.
Answered by - Tue Aug 15 17:21:10 2006
Q. have a house which we have completly renovated!had i valued and made48% equity!! the dilema is that things went a little wrong a while ago and now our credit rating is poor although we have a large sum to put down our bank will not give us another mortgage! so we went to a lender specialising in our situation. the apr is high and will still be in debt with a larger mortgage!! would you remortgage your house sell up make profit and rent or sit on it and pay debts of (approx 4yrs left on them owing approx 20,000!!! ahhh!!!
Asked by lubilu82 - Tue Aug 15 17:15:50 2006 - Renting & Real Estate - 9 Answers - Comments
A. I'd sell, pay off the debts, rent for 2 years, save up again, move somewhere cheaper and buy, or buy a fixer in the area you desire and can afford. Right now it is a buyers market, interest will rise more too. Sell, pay off and sit back and watch the market.
Answered by - Tue Aug 15 17:21:10 2006
Remortgage help - loan against house?
Q. I want to remortgage my house, i have 2 loans against the house that mean if I sell I have to repay the loans. I have awful credit history but I have never missed a mortgage payment. Will they give a remortgage to me with my awful credit but mortgage on track?
Asked by Jellybabyblue - Tue Jan 20 13:38:04 2009 - Personal Finance - 3 Answers - Comments
A. your house will be at risk if you default...the loan company will notice the loans against the house when you apply...this may stop them from lending to you..they will look at the total amount that you owe and the equity in your house before they make a decision...can you not sell up and move to a smaller house and clear your debts while you're doing it.?
Answered by Lily B Talus - Tue Jan 20 17:28:32 2009
Q. I want to remortgage my house, i have 2 loans against the house that mean if I sell I have to repay the loans. I have awful credit history but I have never missed a mortgage payment. Will they give a remortgage to me with my awful credit but mortgage on track?
Asked by Jellybabyblue - Tue Jan 20 13:38:04 2009 - Personal Finance - 3 Answers - Comments
A. your house will be at risk if you default...the loan company will notice the loans against the house when you apply...this may stop them from lending to you..they will look at the total amount that you owe and the equity in your house before they make a decision...can you not sell up and move to a smaller house and clear your debts while you're doing it.?
Answered by Lily B Talus - Tue Jan 20 17:28:32 2009
Remortgaging Bought a house valued at 95000 for 7000 and would like to remortgage it , have a 25% deposit?
Q. Bought a house valued at 95000 for 7000 and would like to remortgage it , have a 25% deposit on it and its a interest only mortgage. If remortgaged what would the case be? what happens to the difference of 25k? do i get the cash ? how does it work?
Asked by tazz - Mon Oct 31 02:58:19 2011 - Renting & Real Estate - 2 Answers - Comments
A. Your question is not very clear, so I will first say what I think you are asking. If I'm wrong please edit your question to clarify - and send me a message to come back and check. I think you are saying that at some time in the past you paid PS70,000 for a house. You provided a PS17,500 contribution (aka "deposit") and took out an interest only mortgage (of PS52,500) to cover the rest. The house is now worth PS95,000 and you want to remortgage it. In which case my answer is: Remortgages are covered by exactly the same rules and criteria as when you buy/mortgage for the first time. EG, the lender will only lend up to a certain percentage of the value, leaving you to provide the rest (the "deposit"). Lets assume they will… [cont.]
Answered by SimonC - Mon Oct 31 04:44:45 2011
Q. Bought a house valued at 95000 for 7000 and would like to remortgage it , have a 25% deposit on it and its a interest only mortgage. If remortgaged what would the case be? what happens to the difference of 25k? do i get the cash ? how does it work?
Asked by tazz - Mon Oct 31 02:58:19 2011 - Renting & Real Estate - 2 Answers - Comments
A. Your question is not very clear, so I will first say what I think you are asking. If I'm wrong please edit your question to clarify - and send me a message to come back and check. I think you are saying that at some time in the past you paid PS70,000 for a house. You provided a PS17,500 contribution (aka "deposit") and took out an interest only mortgage (of PS52,500) to cover the rest. The house is now worth PS95,000 and you want to remortgage it. In which case my answer is: Remortgages are covered by exactly the same rules and criteria as when you buy/mortgage for the first time. EG, the lender will only lend up to a certain percentage of the value, leaving you to provide the rest (the "deposit"). Lets assume they will… [cont.]
Answered by SimonC - Mon Oct 31 04:44:45 2011
Can i remortgage my existing property for a deposit for a buy to let mortgage?
Q. I am looking at getting a second property to rent. Is is ok to remortgage my current property to get together a deposit for a second house on a buy to let mortgage?
Asked by mdarks1d3 - Mon Dec 20 08:22:12 2010 - Renting & Real Estate - 1 Answers - Comments
A. if you have the equity in the current home, sure.
Answered by - Mon Dec 20 09:36:34 2010
Q. I am looking at getting a second property to rent. Is is ok to remortgage my current property to get together a deposit for a second house on a buy to let mortgage?
Asked by mdarks1d3 - Mon Dec 20 08:22:12 2010 - Renting & Real Estate - 1 Answers - Comments
A. if you have the equity in the current home, sure.
Answered by - Mon Dec 20 09:36:34 2010
Can i still sell my house if i have recently remortgaged?
Q. I remortgaged my house a few months ago but now i want to sell it. I have been told by friends that i have to wait a year, is this true?
Asked by madscientist - Sun Apr 8 17:12:31 2007 - Renting & Real Estate - 6 Answers - Comments
A. The only thing that could stop you is a pre-pay pentalty on your loan. And even that doesn't STOP you, it just means you have to pay a penalty if you repay the new loan you just took out within a certain time frame.
Answered by CJ - Sun Apr 8 18:39:38 2007
Q. I remortgaged my house a few months ago but now i want to sell it. I have been told by friends that i have to wait a year, is this true?
Asked by madscientist - Sun Apr 8 17:12:31 2007 - Renting & Real Estate - 6 Answers - Comments
A. The only thing that could stop you is a pre-pay pentalty on your loan. And even that doesn't STOP you, it just means you have to pay a penalty if you repay the new loan you just took out within a certain time frame.
Answered by CJ - Sun Apr 8 18:39:38 2007
Can I remortgage my house for more than its worth?
Q. My flat is worth about PS55,000, it can't be improved, it's perfect. I currently owe about PS45,000 on my current mortgage. But I want to remortgage my flat in order to get into property developing. Is it possible to remortgage my house for say PS100,000? And if not, how can i get my hands on PS100,000? I didn't mean can i pay double for my house, i meant can I secure a loan on my house if it's more than my flats worth. I wasn't just going to jump into borrowing PS100,000, I've done all the research in the world, I'm not about to stupidly risk my home, don't just assume I'm some idiot that wants to be rich!!
Asked by racheypie - Thu Jul 30 06:17:22 2009 - Renting & Real Estate - 7 Answers - Comments
A. If you are earning a salary which would make repaying, in effect, PS145,000 fairly easy, then you might get a lender to look at your project but at the moment I wouldn't get into property development as prices have further to fall. Don't be fooled by the latest housing data, the upswing is caused mainly by distressed sales and with people who have cash to buy. As more and more people get made redundant forced sales, repossessions will increase and prices will fall.
Answered by Mogseye - Thu Jul 30 06:32:39 2009
Q. My flat is worth about PS55,000, it can't be improved, it's perfect. I currently owe about PS45,000 on my current mortgage. But I want to remortgage my flat in order to get into property developing. Is it possible to remortgage my house for say PS100,000? And if not, how can i get my hands on PS100,000? I didn't mean can i pay double for my house, i meant can I secure a loan on my house if it's more than my flats worth. I wasn't just going to jump into borrowing PS100,000, I've done all the research in the world, I'm not about to stupidly risk my home, don't just assume I'm some idiot that wants to be rich!!
Asked by racheypie - Thu Jul 30 06:17:22 2009 - Renting & Real Estate - 7 Answers - Comments
A. If you are earning a salary which would make repaying, in effect, PS145,000 fairly easy, then you might get a lender to look at your project but at the moment I wouldn't get into property development as prices have further to fall. Don't be fooled by the latest housing data, the upswing is caused mainly by distressed sales and with people who have cash to buy. As more and more people get made redundant forced sales, repossessions will increase and prices will fall.
Answered by Mogseye - Thu Jul 30 06:32:39 2009
If i remortgage my house for more than its worth, and then leave the country with the money, will they find me
Q.
Asked by Fraudster - Fri Jul 7 08:31:25 2006 - Personal Finance - 13 Answers - Comments
A. I tried that and they never forget. In the end they sent a cybanetic life form back from the future to hunt me down like a wild dog. He persued me cross country leaving a trial of destruction and death behind him. In the end he cornered me in factory where, handily, they had left a large vat of molten metal on over night. After a long struggle I untied his shoe laces, he tripped over them and he fell into the said vat. I think its safe to do it now as they'd never send another one of those things back
Answered by Zecca - Fri Jul 7 08:46:22 2006
Q.
Asked by Fraudster - Fri Jul 7 08:31:25 2006 - Personal Finance - 13 Answers - Comments
A. I tried that and they never forget. In the end they sent a cybanetic life form back from the future to hunt me down like a wild dog. He persued me cross country leaving a trial of destruction and death behind him. In the end he cornered me in factory where, handily, they had left a large vat of molten metal on over night. After a long struggle I untied his shoe laces, he tripped over them and he fell into the said vat. I think its safe to do it now as they'd never send another one of those things back
Answered by Zecca - Fri Jul 7 08:46:22 2006
Do surveyors come to the house if someone wants to re-mortgage?
Q. At the moment i'm living in rented accomodation but we had a surveyor come to the house and I was worried that the landlord has intentions to sell, but I was told it was because he wants to remortgage the house. Is that correct?
Asked by - Tue Jan 10 11:27:00 2012 - Renting & Real Estate - 5 Answers - Comments
Q. At the moment i'm living in rented accomodation but we had a surveyor come to the house and I was worried that the landlord has intentions to sell, but I was told it was because he wants to remortgage the house. Is that correct?
Asked by - Tue Jan 10 11:27:00 2012 - Renting & Real Estate - 5 Answers - Comments
What should my friend do with a house they have? To do with selling / remortgaging.?
Q. My friend brought a 2 bed house about 7 years ago for about PS35k and is now to the value of about PS130-PS140k down her road. She doesn't actually live there anymore and just rents it out. She earns about PS100 a month after paying off the mortgage. I'm of the opinion she should sell the house and get a place that she likes more. She only earns about PS15k a year before tax, so she wouldn't be able to borrow much. I'm thinking 4.5 times what she earns max? But as she will have such a massive deposit her repayments are going to be affordable to her. I'm also of the opinion that she could carry on living at her parents for a few more years if she cashed in on her house by selling/remortgaging and put the money on 2-3 deposits on other… [cont.]
Asked by timmy2take - Mon Mar 12 16:13:37 2007 - Renting & Real Estate - 2 Answers - Comments
A. Hmmm, difficult one. House prices can't keep increasing as they are so now is probably not the time to invest, bargains are rarely found now anyhow. Maybe she should remortgage the house she currently has to fund a deposit for a new one, that way she can pay the mortgage and have the PS100 profit left over to pay her own mortgage. That's what we did - Let to buy. We are now in the process of selling as house prices in the area are at the ceiling and I want an extension on my new house! Good luck to her, great position to be in.
Answered by Paula W - Mon Mar 12 16:20:45 2007
Q. My friend brought a 2 bed house about 7 years ago for about PS35k and is now to the value of about PS130-PS140k down her road. She doesn't actually live there anymore and just rents it out. She earns about PS100 a month after paying off the mortgage. I'm of the opinion she should sell the house and get a place that she likes more. She only earns about PS15k a year before tax, so she wouldn't be able to borrow much. I'm thinking 4.5 times what she earns max? But as she will have such a massive deposit her repayments are going to be affordable to her. I'm also of the opinion that she could carry on living at her parents for a few more years if she cashed in on her house by selling/remortgaging and put the money on 2-3 deposits on other… [cont.]
Asked by timmy2take - Mon Mar 12 16:13:37 2007 - Renting & Real Estate - 2 Answers - Comments
A. Hmmm, difficult one. House prices can't keep increasing as they are so now is probably not the time to invest, bargains are rarely found now anyhow. Maybe she should remortgage the house she currently has to fund a deposit for a new one, that way she can pay the mortgage and have the PS100 profit left over to pay her own mortgage. That's what we did - Let to buy. We are now in the process of selling as house prices in the area are at the ceiling and I want an extension on my new house! Good luck to her, great position to be in.
Answered by Paula W - Mon Mar 12 16:20:45 2007
Do you need a cosigner to remortgage your house?
Q. We had a cosigner for the original mortgage. We are great with our payments, we have good credit. What do you think? We live in canada. (I still don't know how to reply to thank the 'answerer' or reply to their questions!) important: When I got the original mortgage I had a 9-5 job and now I am more self-employed, and currently working less. Sorry for not mentioning it earlier!
Asked by Blue - Thu Feb 26 23:26:42 2009 - Personal Finance - 2 Answers - Comments
A. You probably will not need a cosigner. The fact that you have made your payments on-time is the best predictor of whether you will make the payments on the new loan. Go ahead and apply..
Answered by Ed Atun - Fri Feb 27 11:15:41 2009
Q. We had a cosigner for the original mortgage. We are great with our payments, we have good credit. What do you think? We live in canada. (I still don't know how to reply to thank the 'answerer' or reply to their questions!) important: When I got the original mortgage I had a 9-5 job and now I am more self-employed, and currently working less. Sorry for not mentioning it earlier!
Asked by Blue - Thu Feb 26 23:26:42 2009 - Personal Finance - 2 Answers - Comments
A. You probably will not need a cosigner. The fact that you have made your payments on-time is the best predictor of whether you will make the payments on the new loan. Go ahead and apply..
Answered by Ed Atun - Fri Feb 27 11:15:41 2009
Should I remortgage my house to pay of my credit card debt? My adviser says I should..?
Q. My house is worth approximately PS200,000 pounds and I have a small mortgage for PS30,000 I recently became self employed and needed to borrow to finance a car and some business premises, plus I have to pay the bills. Hence the credit cards have started to creep up. i.e. I owe PS30,000 to c.card companies and bank loans. What should I do my income hasn't really taken off and my advicer says that's ok I can do a projection and he can sort a mortgage out for me. Can you help?
Asked by mortgage4u - Fri May 5 05:33:34 2006 - Personal Finance - 8 Answers - Comments
A. When you owe money, creditors get good at collecting. It my take a while, but they will come after it. Having said that, if mortgaging your house means you will have lower monthly payments to allow you the breathing room you currently need for your new business - it MAY make sense. Understand, lower monthly payments, just means lower payments, not lower overall cost. With a mortgage, the total dollar figure can be quite large - especially when you factor in fees. If you can get an alternative loan, at a reasonable rate, consider that - it is a good idea to keep your business affairs separate from you personal. Good Luck!
Answered by SimpleMoneyGuy - Fri May 5 23:15:01 2006
Q. My house is worth approximately PS200,000 pounds and I have a small mortgage for PS30,000 I recently became self employed and needed to borrow to finance a car and some business premises, plus I have to pay the bills. Hence the credit cards have started to creep up. i.e. I owe PS30,000 to c.card companies and bank loans. What should I do my income hasn't really taken off and my advicer says that's ok I can do a projection and he can sort a mortgage out for me. Can you help?
Asked by mortgage4u - Fri May 5 05:33:34 2006 - Personal Finance - 8 Answers - Comments
A. When you owe money, creditors get good at collecting. It my take a while, but they will come after it. Having said that, if mortgaging your house means you will have lower monthly payments to allow you the breathing room you currently need for your new business - it MAY make sense. Understand, lower monthly payments, just means lower payments, not lower overall cost. With a mortgage, the total dollar figure can be quite large - especially when you factor in fees. If you can get an alternative loan, at a reasonable rate, consider that - it is a good idea to keep your business affairs separate from you personal. Good Luck!
Answered by SimpleMoneyGuy - Fri May 5 23:15:01 2006
Remortgage (Ireland)?
Q. We have a house worth EU 190,000. Our original mortgage was for EU 101,000 through the County Council. We have around EU 85,000 left to pay. We want to remortgage our house through the Permanent TSB bank to pay off the original County Council mortgage and a few other debts. We want around EU 110,000 altogether. What are our chances of getting this?
Asked by Lauren - Thu Feb 28 17:11:47 2008 - Renting & Real Estate - 1 Answers - Comments
A. Not to be cheeky, but why not ask the bank instead of us? They would presumably be able to tell you about their own loan programs!
Answered by ananamas - Thu Feb 28 17:35:31 2008
Q. We have a house worth EU 190,000. Our original mortgage was for EU 101,000 through the County Council. We have around EU 85,000 left to pay. We want to remortgage our house through the Permanent TSB bank to pay off the original County Council mortgage and a few other debts. We want around EU 110,000 altogether. What are our chances of getting this?
Asked by Lauren - Thu Feb 28 17:11:47 2008 - Renting & Real Estate - 1 Answers - Comments
A. Not to be cheeky, but why not ask the bank instead of us? They would presumably be able to tell you about their own loan programs!
Answered by ananamas - Thu Feb 28 17:35:31 2008
How long does a remortgage take?
Q. We are currently going through a remortgage, first time we have done this since we bought our house. We have had everything accepted, survey completed etc. The solicitors have a copy of our buildings and contetnts insurance and I gave them the account details for our existing mortgage on Friday. How much longer will it roughly take before our current mortgage is cleard and we have the new mortgage and funds? Eager to start extending the bathroom! We are in Scotland, don't know if that makes a difference. SJ
Asked by SJC - Mon Aug 27 14:56:49 2007 - Renting & Real Estate - 4 Answers - Comments
A. Took me four or five weeks five years ago
Answered by baby_face_paris - Mon Aug 27 15:01:34 2007
Q. We are currently going through a remortgage, first time we have done this since we bought our house. We have had everything accepted, survey completed etc. The solicitors have a copy of our buildings and contetnts insurance and I gave them the account details for our existing mortgage on Friday. How much longer will it roughly take before our current mortgage is cleard and we have the new mortgage and funds? Eager to start extending the bathroom! We are in Scotland, don't know if that makes a difference. SJ
Asked by SJC - Mon Aug 27 14:56:49 2007 - Renting & Real Estate - 4 Answers - Comments
A. Took me four or five weeks five years ago
Answered by baby_face_paris - Mon Aug 27 15:01:34 2007
bad credit lender remortgage?
Q. I have had bad credit for the last 4 years and I needed to remortgage my house, I found a website called who recommended me a company on there who have been excellent to deal with and very good rates and the best company to deal with by far (in my opinion) I wanted to know if I could possibly ask for an additional amount and tell a bit of a porky by saying it is for something else so I can have some spare cash for myself. Has anyone else done this ? and if you have done it, what did you say the money was for ?
Asked by john w - Mon May 14 06:38:46 2007 - Personal Finance - 2 Answers - Comments
A. Say it's for home improvements. They usually don't check unless it is for a huge thing like an extension or granny flat, etc.
Answered by katewearsconran - Thu May 17 11:37:01 2007
Q. I have had bad credit for the last 4 years and I needed to remortgage my house, I found a website called who recommended me a company on there who have been excellent to deal with and very good rates and the best company to deal with by far (in my opinion) I wanted to know if I could possibly ask for an additional amount and tell a bit of a porky by saying it is for something else so I can have some spare cash for myself. Has anyone else done this ? and if you have done it, what did you say the money was for ?
Asked by john w - Mon May 14 06:38:46 2007 - Personal Finance - 2 Answers - Comments
A. Say it's for home improvements. They usually don't check unless it is for a huge thing like an extension or granny flat, etc.
Answered by katewearsconran - Thu May 17 11:37:01 2007
From Yahoo Answer Search: 'remortgage houses'
Sun Jan 15 15:29:16 2012
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moneyquest.co.uk
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Mortgage Approvals Up Again in October Although total mortgage lending is reported by the British Bankers Association to have remained the same last month house purchase approvals rose
Mortgage Strategy
Mon, 27 Jun 2011 09:21:02 -0700
To give first-time buyers houses to buy there needs to be first-time sellers. If we can move first-time sellers up the ladder that can move the market. Remortgaging can be a form of creating activity in the purchase market. ...
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