Thread: Mortgages

Ok, so as you all know I am selling my house. probably bored you all to death about it now, so sorry but another stupid question probably.

Anyway, I was speaking to the mortgage section of my bank today and they have said that they would have to take into consideration our housing costs when calculating our affordability, meaning that we couldn't get anywhere near the mortgage we need. Personally I think this is a bit cr*p considering they will no longer apply if we live out. They said that they might not take the costs into consideration if we could get confirmation from someone that we will no longer pay these costs. Who would do that? I have a feeling that getting a letter from anyone Army to say that we won't pay housing costs (CILOCT, ACCM CHG, Fuel & Light, etc) is going to be as easy as getting hold of rocking horse sh*t. Does anyone have any suggestions?

There other 'helpful' suggestion was to buy a new house before we get back to UK as we have the LOA to bump up Mr Gonzo's salary. I can see the fatality in that though!

Gratefully,

Me xx

Shouldn't be a problem at all. Mr GS got his letter from the UPO (unit personnel office) within days. Can't remember what the Army equivalent is but they should be able to help.

Woooooooooooooooooooooh G_S I wasn't expecting that. That is fabby news. No need to stress after all!

I am beginning to think I should specialise in mortgages for the military when I go self employed.

It's possible that I'm not awake yet but that does sound odd. As you know Gonz, we've just bought a house and they weren't interested in what we are paying for SFA now. I mean, why would they be? It would be like saying to someone who was simply moving from one mortgaged house to another ' well we'll have to take your current mortgage into account', in which case no one would ever be able to afford to buy a house! I expect I've missed the point though! x

You haven't Heli, they're being idiots. It is because it is deducted at source that it is the problem. I don't think (insert high street bank) have many dealing with the armed forces.

We're making plans for a mortgage but my bank First Direct were fab and took no interest in SFA costs as its all taken at source. Only confusing part was explaining school fee funding, but we got there in the end!

Our main obstacle is not enough money offered will be available for the houses we want

i'm scared, when he is out and we buy a house....we'll be doing it in germany...god knows what we can afford

Originally Posted by bootifull

We're making plans for a mortgage but my bank First Direct were fab and took no interest in SFA costs as its all taken at source. Only confusing part was explaining school fee funding, but we got there in the end!

Our main obstacle is not enough money offered will be available for the houses we want

Rubbish isn't it.

We have been very impressed with Nationwide. We didn't know them from Adam and hadn't had any dealings with them before but we trooped along withour paperwork because they are offering the best rate and 10 minutes later we had the amount we wanted agreed and the offer of more if we chose to take it. Calls were answered immediately. Paperwork was turned around quickly - can't recommend them highly enough.

We tried Nationwide they were very helpful but because of our ages they could only offer a 10 yr term, and we can't afford that

Boots - Halifax gave me the salary multiples I wanted, but it came at a price. Then I remortgaged after renovating the cottage and went with Nat West. Both of those may be worth a try. Also, are you settling in your current area as I happen to know of a couple who got a fab deal on a brand spanker of a house.

I'll be totally honest we have no idea where we will go! I want Norwich, kids want Taunton and dear ol' Mr Boots wants Ash, Farnham area!

I do know I want a 4 bed semi or detach, large kitchen/diner, south facing rear garden and 1960's or older.

We've got a budget of 200k including fees and for Norwich or Taunton that's enough but M3 corridor and 200k gets me a flat!
Mr Boots has 100% employment if we stay M3, so a total minefield at the mo'

This behaving like an adult is pants.

Even tho i can't wait for my husband to finish his green career, it is scary leaving the umbrella of the army. No falling back into the nettting if it all goes tits up....on the other hand i can't wait to have the freedo to knock some walls down or rip cupboards out if i want to

Originally Posted by bootifull

but M3 corridor and 200k gets me a flat!
Mr Boots has 100% employment if we stay M3, so a total minefield at the mo'

This behaving like an adult is pants.

I'm looking in the same sort of areas Farnham/Around Basingstoke so I feel your pain on that front..

My old place is at the end of the M3 corridor almost, so I know where you are coming from Boots (I say old it's only been on the market a week). We are also looking at Norwich. Toss up between there and Lincolnshire at the moment. I can go anywhere for work, it is just Mr Gonzo's future we have to consider. I am also looking at 4 bed detached houses with a similar spec. Similar price bracket. Gah

is there a deal to be done between Gonzo and Boots?

Gonzo if you come down naaaaaarich way give us a shout i meet you for a hot beverage

Ooooooooooh padme, if I come down naaaaaaaaaaaaaaaaaaaarich way I most definately will, and even if I don't there is no law to say I can't go shopping in naaaaaaaaaaaaaaaaaaaaaaaaarich

No deal with Boots unfortunately, my place is a 2 bed mid terrace. No good unless you buy 2....lol

FFS dont go to Lincolnshire! Well, as anywhere it depends where abouts. It has changed significantly in the years I have been away.

You may need to check this out but I believe if you buy a new place and are first time buyers then you can get a discount. Something to do with a government incentive.

How about staying M3 with a view to moving to what you want in the future? Having done the leaving the green machine my advice would be that the key thing is his employment. There are additional stresses that rear their heads and making sure they have a job they enjoy would be top of the list. How about near to where you were? I know its a bit further out but you know the area and the good and bad bits?

That said houses are just not shifting at the moment. Mr Dizzy to be has had his place on the market 6 months and has dropped £45k and still cant sell!! It seems that people cant move up and therefore people like his nibs cant move down.

And padders, if you think DHE (or what the ferk they are called now) are bad then wait until you have to deal with building control or planning!

My mortgage is Natwest and they sorted it in a day which was amazing as the previous one my 'mortgage adviser' sorted fell through. Ok I only had 10% deposit so I have a high interest rate and its fixed for 5 years and its a 30 year mortgage but hey it gave me what I needed, its just going to be a little bit of a problem when I want to move in a few months.

Boots - Came across this - v. close to the M3 4 bedroom semi-detached house for sale in Lilac Way, Basingstoke, Hampshire, RG23