r/Mortgageadviceuk

Hi I can't stop stressing about this situation.

I have had an offer accepted on a property & will be using proceeds of sale from my property as the deposit.

My bank statements show ~£3000 income from kraken a month ago after I cashed out BTC for stability in preparation for the move. My cost basis was around £4000 in deposits so I sold at a loss but can evidence the deposits in transactions to different exchanges. I did use cold storage for a period before sending back to the exchange.

I think my mortgage will be fine as they only requested payslips but will this cause problems for my conveyencor even though it's not being used towards deposit.

I'm driving myself crazy thinking about it all. Thanks

Hi folks!

Thinking about buying a house soon but have a pretty bad credit score as I bought a £500 item as a student 4 years ago which I could afford to pay off, so my account was defaulted. Other than that have not even taken out any debt and stated using credit cards just a few months ago, and have been on top of payments.

This is my 2nd year working full time and I’m earning just shy of 70k, and have very few expenses.

How will this affect my mortgage application? Anything I can do to still secure a decent mortgage?

My wife and I are trying to purchase a property and have been working with a broker who is using nationwide. All paperwork sent and went to underwriters as of Wednesday, received a phone call from broker yesterday (Friday) to where nationwide is looking at my payslips and has said my basic pay is only 660 gross so will only offer us a max of 305k where we need at least 330.

They have stated one of my payslips shows my basic at 660 due to holiday/s I have taken (not sure which payslip they have used to get this figure) my basic is 19.65 x 36.17 (710) the have asked for a copy of my contract to say that my basic is this which I will provide but I don’t understand how this will increase the max lend to the 330 min we require as it only equates to 2600 a year? I have an additional allowance per week (76) for my role and have done upwards of 16 hours plus overtime per week in all provided payslips and have now provided my p60 for the last two years which shows consistent earnings of over 58k per year with this financial years payslips showing I’m on track to earn nearer 70k.

How have they came to this figure and why would it be that big of an impact on the max lend? Any help is greatly appreciated.

Hi all, I’m looking for some reassurance and advice really.

Myself and my Wife put an offer in on a property (250k) and it got accepted, Solicitor was sorted out as well as Mortgage Broker.

Mortgage Application went in on Sunday to Nationwide, on the 21st May the lender sent their valuation people out to the property. Today I heard back from the Mortgage Broker that Nationwides Value people have only valued the house at £230k.

The mortgage broker has said for us to challenge that amount, we are also putting in ANOTHER mortgage application with another lender to see how they compare. How likely is it that another lender will value it at £250k if one lender has already valued it 20k under value?

Thank You

Unsure as to how this all works as I am due to (remortgage/product transfer) the house I have quite a few loan payments monthly will this affect me?

We're moving house (and need additional borrowing), with a completion due in September.

I had naively assumed that our five year fix would be up then (bought in September 2021) but I now realise it runs until November.

I don't want to risk the chain by extending the dates.

I see that you can avoid early repayment charges by porting your mortgage, but would this mean having to pay new product fees for just two months worth of mortgage?

I'd really appreciate any ideas on how to approach this.

Good day folks,

My partner has recently found that an old CCJ (2 years old, £300 parking fine) has effected her credit score. It is still over 900 but is flagged on Experian. (The fine was paid as soon as the debt collectors sent a letter, she missed the previous correspondence due to not updating V5 form).

We collectively earn £100k and would be looking to buy a house over the next few years. It's now got us stressed as we've had mixed messages regarding its impact, interest rates etc.

Has anyone had previous experience of this and could shed some light. Thanks in advance.

TO CLARIFY BECAUSE SOME PEOPLE MISREAD THIS:

I’m looking for an action plan and advice.

I am well aware I am not in a situation for a mortgage right now, especially with debts I need to clear up and no work history for my partner.

Also : I am not looking for £250k (this is a theoretical maximum via calculator and our actual budget is £180k-220k)

Hello everyone,

Me and my partner is planning to buy a house in Essex after living in our parents wing for quite a long time in the same place - I’m 24 and he’s 22.

My income is permanent zero hour with really varied income - I get paid weekly and it is not consistent, I have been doing this since December 2022. My last P60 shows that I’ve earned £24,300.

I spend most of (like 80 percent) of my salary paying off CC debit as I splurged out on a lot on stuff and holidays before I met him, at the time buying a house was not realistic at all in my area so I wasn’t thinking about it and since I’d might as well enjoy life in my early 20s. I managed to demolish that credit to ~£1500 within a year and I am on track to completely wipe it out by the end of the year (however I spend £400 on normal credit cards for cash back.) I always use 0% cards and finance schemes and for my non 0% (I.e my normal cards) I always pay in full (being paid weekly means I pay weekly amounts to all my credit accounts)

My partners income is well not yet established, good news is that he started a new job at the NHS in what is a permanent position getting Band 2 rates (currently £25,272), however he only started that job this month, he was long term unemployed for 6 months before that. He also receives PIP from the government as he is deaf. He has no credit cards or anything like that at all.

We currently have £11k in savings, of course we will want to grow that amount and once I cleared off my debts then I want to maximise saving instead of spending! Living with parents makes our situation a lot easier and saving a lot more faster and we’re fortunate to be in that position. We have looked in several mortgage calculators and with £15k deposit and our combined incomes we can afford a house that is up to £250k-£260k which is quite reasonable for our area (we are not interested in flats or any cluster housing at all (terraced, semi detached etc. is what we’re interested in))

What advice if any is anyone able to give, also is it still way too early to speak to a broker or even take this seriously, of course my partners job history is going to be a problem and we want to save up more as well, if someone is able to give a timeframe or general advice that is very much appreciated! Thanks!

EDIT- Yes I am 100 percent aware that I’m not ready for a mortgage NOW. I never said that, I am looking for an action plan - I want to clear my debts and my partner to have work history. I am just looking if it is worth speaking to an advisor and if there is any goals in mind. Of course I’m not going to apply for a mortgage with debt!

Our broker submitted our application on Tuesday afternoon, yesterday around 3pm she calls me and says Kensingtons underwriters are querying a default on my credit file from September 2025, this had all been explained to the broker previously but they’d forgotten about it.

Essentially it was with a utilities company who had agreed to remove all my status 6s in April following a complaint id made, they emailed confirming they would do so but it looks like they missed this one month.

I contacted said utilities company again yesterday who have emailed me to confirm the marker is a mistake and that I have NEVER defaulted with them. They said on the phone it can take 28 days for them to make the correction meaning that won’t be removed immediately.

Couple of questions really, 1 - why are Kensington using the word default when it’s a missed payment?

2 - Will the email I got from the supplier confirming it’s a mistake their end confirming I have no missed payments or defaults allow Kensington to override / ignore it?

All info was sent over to them yesterday but we’ve not heard anything yet and we’re just very anxious with it hanging over us over the bank holiday weekend 😞

I always paid everything on time had a 900+ credit rating for 20+ years but ny dad killed hinself a year ago and I am.strugglinf to find the will to live let alone remember to pay things.

I have the money I just forget.

Im absolutely petrified. Husband is very much aboht buying house and his mortgage is the most important thing. What will happen. Im so so so scared

I do not have a finance brain, so please explain like I'm a child.

My partner helped me with my deposit (we own separate properties). He said I can pay him some back each time I remortgage. I don't mind that in principle but I don't really understand. My total mortgage length is 29 years. Current mortgage deal is 2 years, by which time I'll have paid like 50p (well, OK, £4k) off my capital. I don't see why the bank would lend me more when the house won't be worth much more, I won't have paid much off, so I wont have much capital to release or however it works. He says my loan to value will be better because I'll have more of a deposit. I still don't see how I'll have more than a few hundred quid difference. I think I'm more likely to be able to leave him a lump sum when I die in a determined but ill-thought-through DIY project...

He earns a lot more than me and had a huge deposit for his current house, so I feel like he's forgotten how little capital is paid off in 2 years. Also I think the last time he actually needed to remortgage to pay for something was when banks had a very different view on things like that. Is he right? If so can anyone explain to me why?

For the record I have no problem paying him back and as he is well off, it's more principle than need so he's not asking for it, it was the general agreement we reached. He also knows my car is on its last legs and that the kitchen desperately needs replacing (ex rental, say no more) and is happy for me to pay for those beforehand, which again he says can be done at remortgaging point. And again I don't see how.

Just a quick question. Halifax pushed remortage through even though we declined, took phoned up complained. After about 2 weeks they came back to us and reversed it and gave us £150 for the trouble, is this how its supposed to be done or are they trying to avoid fines/larger payment to us? any help would be greatly appreciated. quick edit: signed the papers, got the offer through the mail, said cancel by x date if you dont want, we told them that we didn't want it, and i guess they forgot to stop the mortage.

Redditors - bit of an odd one this, about three years ago my wife at the time and I decided to separate. I was the main earner by some distance but after agreeing to divorce things became a little tricky. We had the odd financial hiccup here and there, nothing serious (no CCJ, though I had one default about 10 years ago) mainly due to my work industry being volatile, and her struggling to do more than part time. Towards the end, with the house up for sale, it was a real struggle so back in 2024 I had to apply (with an offer on my house) for deferred payments; this was wholly agreed with the lender, I have the documentation, although has been marked as “missed payments”. Fast forward to now, looking to buy with my partner, with combined income of over £250k, we cannot get a mortgage at 90% LTV for the house we want. The rules seem absurd, we’ve been paying £3.5k rent every month for nearly 2 years but flexible lenders stop with 90% at £750k, other lenders are hung up on payment arrangements even though those debts are completely settled.

I get this post isn’t going to change UK regs but it is just so frustrating that we get hit with “computer says no” at almost every turn. 100% LTV i could maybe understand but we have £100k equity, have set aside the £40k for stamp duty and solicitors so why is it so absurdly hard? Has anyone got any experience, or advice, as we stand to lose our dream home if there’s no solution. Thanks for reading, and appreciate any help.

Hey everyone,

I'm in a bit of a tricky situation and could really use some advice. I have bipolar disorder, and during some manic episodes in the past, I ended up racking up debt on two credit cards. I’ve since worked things out with the banks and I’m on a solid repayment plan—never miss a payment.

My husband has a good job, a strong credit history, and a nice deposit saved up for our first home. I’m just worried about how my past credit issues might affect our chances of getting approved for a mortgage.

Does anyone have experience with this? How much do you think my credit history will play into the mortgage process? Do we still have a shot at getting approved?

Hi All,

Has anyone remortgaged in the last few weeks.

My mortgage is due to renew 30/09, have a meeting with a broker next week to look at mortgages.

The best fixed rate I’m seeing myself is 4.64% my LTV is 58%.

Has anyone else got a better deal with a broker?

Also what is the difference with a paid broker and a free one?

NatWest are sending Countrywide Surveying Services to value the property we are purchasing next week and after scrolling through google reviews about how much they undervalue I’m panicking! Has anyone had a positive experience with them with a house that needs a little work?

The house is functional but dated, and needs some repairs such as a ceiling needing patching after a repaired bathroom leak, a gutter bracket needing replacing to fix the split, and a few loose roof tiles/flashing causing damp in an upstairs bedroom.

The agreed sale price was already £25k lower than the Zoopla estimate and £10k lower than estate agent valuations of the condition so unlikely to be any wiggle room in negotiations.

Is it likely the above repairs make the house unmortgageable or impact valuation significantly? Had quotes already and repairing is unlikely to cost that much but appreciate someone who doesn’t know the extent may go to town on how big and issue it is.

I'm a first-time buyer, currently based in London but looking to relocate to Sheffield. I viewed a Victorian terrace on Monday and honestly, I haven't stopped thinking about it. I had no plans on viewing any properties before the end of the year but I came across it just after it was posted on Rightmove and it grabbed me so much that I felt compelled to go for a viewing even though I only have a 5% deposit in place.

The owners have clearly put their heart into it - bespoke kitchen, original flooring, a loft conversion with an en-suite, and the most beautiful attention to detail (the kitchen is amongst the best I've seen) I work in property, so I've seen a lot of renovations, and this one genuinely stood out. It felt like a home, not just a house.

I've offered £335k (which is 10k over the top of guide but honestly the lower end seemed like a bit of a trick to entice people and it was clear from the outset that interest was very high). I'm chain-free, mortgage in principle ready, and I've submitted all my paperwork - bank statements, gifted deposit letter etc to the agent immediately when requested and told the sellers wife who actually did the viewing themselves that I work in property so knew how to progress quickly as the seller is chain free also. I even wrote the seller a handwritten letter which I dropped through the letterbox not long after viewing, no sob stories just outlined my strong position and willingness to act quickly.

The estate agent has been professional but vague. They say there are multiple offers, including another at £335k, which could well not be true but it's hard to judge as the property is special. They say that the seller will decide at the "end of next week" after all viewings are tied up.

For those who have been through this - how did you cope with the wait? Did you chase the agent, or just sit on your hands? And when you finally got the call, how did you handle it - whether it was good news or bad?

I won't lie. I never thought I'd get to own a house so I've never really read up on it, but recently my father decided to gift me 5k for a deposit on a flat so £95,000 £5000 down 94.74% LTV. I haven't received it yet but we've had an offer accepted for the property.

Spoke with Halifax who said they'll only accept a 5k mortgage if it's not gifted but that if I had the full 10% or saved the £5000 myself then they'd let me borrow far more than I'd need. We're going to Skipton building society next and it sounds more plausible with them as their website states they'd take a fully gifted deposit but now I'm a bit worried.

I'm wondering if anyone has managed to buy a property with a fully gifted deposit that's less that 10%? Who would be a good lender and if there's anything I need to know/do to just get this done? I'd appreciate any advice at this point. This is up in Scotland.

I am on a 2 year fix. It is ending in September. I have spoken to my bank and have locked in a 2 year fix to commence when the current one ends in September. I got a better rate than I am currently on.

I am moving home in November. I am porting my mortgage. Mortgage adviser has told me they can't start the mortgage application until I move onto the next two year fix in September. I am fine with this as I am not looking to move until November or later.

Mortgage adviser advised me to move onto a tracker mortgage now and then apply to port the mortgage now. They said the pros are that I will pay slightly less per month and I won't have to pay an early repayment fee.

I don't quite understand. A tracker may get me a cheaper deal initially, but if the bank of England base rate rises, my monthly payments will increase. I understand it is an unpredictable time at the moment due to the war, so unsure why the mortgage adviser would recommend this. Plus this will only be until I port so it is very short term.

I am unsure why they are threatening an early repayment fee. Why would I have to pay an early repayment fee? I am porting.

Are they just trying to switch me so they can get their commission or am I missing something? I don't feel they have my best interests at heart.

Both the solicitor and the estate agent requested ID for the purchase.

Solicitor had no questions, the estate agent (whose been notoriously difficult so far) came back with a long list of names to ask if I knew (knew, not just had a connection to) and when I asked why they said they couldn’t tell me but they just had to ask.

I hadn’t heard of any of them and I’m not involved in anything shady but I’m so curious why an estate agent will real out a list of ‘do you know bob smith of Dubai’ questions. Any normal explanation?