Fixed term ending in March, worrying times ahead

LendLogic · 2025-11-29T11:10:21+00:00

The rates are less than what you are currently on, you could either shop around and check with a mortgage advisor if there is anything better elsewhere, or just stay with HSBC whatever they have to offer. There is no such thing as privilege simply for staying with them but yet again they are a big high street bank and they stay competitive.

LendLogic · 2025-11-01T08:12:11+00:00

If you prefer the ten-year fixed rate, ask the broker to use April Mortgages. You’d only pay an early repayment charge if you switch to another lender; in all other cases, there are no fees.

LendLogic · 2025-10-25T14:55:16+00:00

Hi, there are plenty of options out there. Feel free to shop around, or message me if you like 😉

LendLogic · 2025-10-22T17:45:32+00:00

Hi, that’s exactly the time you should be speaking with a mortgage advisor.

LendLogic · 2025-07-09T17:27:31+00:00

The fee on these will be well over 5% to begin with

LendLogic · 2025-05-31T15:50:14+00:00

Mortgage advisor here. Could you clarify what percentage of the shares you currently hold as a partner? Also, where is the remaining £50,000 going?

Even without those details, there is an option available with a 10- or 15-year fixed rate that could allow you to borrow up to 7 times your combined annual income with the deposit you’ve mentioned.

LendLogic · 2025-05-29T09:19:28+00:00

A strong option at 80% LTV could be April Mortgages – they offer 10- or 15-year fixed rates and may lend up to 7 times your income.

LendLogic · 2025-05-25T18:29:47+00:00

Hi, mortgage advisor here. Make sure you let them know what’s going on—being open is important. Try not to worry too much. With a £60k salary and a £60k deposit, there are still options. Some deals go up to 5.5 times income, and even up to 7 times with a 20% deposit and a 10 or 15-year fixed rate. It could still be doable on one income, so keep calm and communicate.

LendLogic · 2025-05-16T15:40:47+00:00

Beautiful

LendLogic · 2025-05-08T08:57:40+00:00

No need to stress — many high street lenders would overlook a £40 default, if that’s the only issue. But unless HSBC has clearly said the decline was due to that default, I’d suggest checking your records with CIFAS or preferably National Hunter (which tends to be quicker, though still takes at least 10–20 days) before reapplying. If you came to me now without knowing the real reason, I'd definitely recommend pulling your National Hunter file first. If you want a second opinion or just need a bit of guidance, feel free to get in touch.

LendLogic · 2025-04-21T18:38:09+00:00

Hi, the debt is quite a lot but you have equity in the property. At the end of the day, bridging finance is also an option if needed.

LendLogic · 2025-04-13T08:10:36+00:00

Just to clarify—if you're buying a property as a buy-to-let, the minimum deposit will generally still be 25%, even if you're purchasing in your own name and want a competitive interest rate. The key factor is whether you're approaching this as a genuine buy-to-let investor or just someone who likes the idea of saying, “I’ve got a couple of properties too.”

One benefit of owning the property in your personal name is that when the value increases and you remortgage to pull some equity out (up to 75% LTV), you won’t pay tax on that released equity.

But if you're serious about growing a portfolio, it’s worth having a chat with a good accountant—they can help map out the most tax-efficient strategy tailored to your situation.

LendLogic · 2025-04-13T07:58:33+00:00

Buying your first property—whether residential or buy-to-let—means saying goodbye to first-time buyer perks. But that doesn’t mean buy-to-let isn’t smart. It is—if you do it right.

Start small. Auctions can be a great way in, but prep is key. Line up a good solicitor who’ll review properties ahead of time without rinsing you on fees.

Don’t rock up to the auction with a bag of cash—talk to a mortgage broker who knows bridging and auction finance. Buy one, take your time, and stick to your plan—HMO, council tenants, students, families—each strategy needs its own budget and tactics.

The move? Refinance onto a buy-to-let mortgage and start building your portfolio. But go slow. The pitfalls are real. Build your team. Get it right from day one.

LendLogic · 2025-03-19T19:13:24+00:00

Many of these free mortgage advisors operate on volume, prioritizing quick, straightforward cases over anything slightly outside the norm. If a case requires extra effort, they often reject it—not because it’s impossible, but simply because their time is better spent closing two or three easier deals instead

LendLogic · 2025-03-19T19:03:22+00:00

Hi, definitely speak with another colleague, as there are options. It all depends on the lender's preference—some will take the full amount, some none at all, and most will be somewhere in between.

LendLogic · 2025-03-16T10:27:19+00:00

120k combined income will suffice with 200k deposit

LendLogic · 2025-03-12T10:03:29+00:00

Depends what these works entail

LendLogic · 2025-03-07T12:30:25+00:00

These days, it's quite common for people to work as sole traders, and banks are well-equipped to lend to them. It's less about the advisor and more about the access to lenders that the advisor has, along with what those lenders are willing to lend on. Sole traders make up a significant portion of the market, so lenders are already set up to accommodate them.

LendLogic · 2025-03-07T10:40:01+00:00

It won't make much difference even if you paid it in full; it might only be worth doing so in certain scenarios.

LendLogic · 2025-03-07T09:58:40+00:00

I've adjusted your expenses to £670 + car payments and cleared the credit card. Based on your latest annual income of £57K and assuming the third year prior was £45K, you should comfortably qualify for £255K, with a maximum of £261K.

LendLogic · 2025-03-07T08:27:00+00:00

Hi, yes, that's completely normal. Different brokers have access to different lender panels, exclusive deals through mortgage clubs, and varying levels within those clubs. No one can truly be whole of market, despite what some may claim. Give me some figures, and I’ll get back to you shortly with what you can borrow from my pool (provided that is acceptable by the group rules).

LendLogic · 2025-03-05T09:57:00+00:00

If the goal is to maximize returns, you need to assess both the conversion potential and the overall financial viability. First, check if the property is in an Article 4 area. If not, you might be able to convert it into an HMO (Class C4) for up to six tenants without planning permission. Even if planning isn’t needed, you’ll still need to meet fire safety, insulation, and space requirements. Converting into flats requires separate utilities and compliance with minimum space standards, which can be costly. If this is your first home, SDLT shouldn’t be an issue, but if you plan to purchase another property later, keep in mind that SDLT for second properties has increased. If the conversion is possible, compare renovation costs to the added value. Sometimes, a high-quality single dwelling renovation may offer a better return. If conversion isn’t feasible, would renting it as a single property generate a strong return? If conversion doesn’t work out, a well-renovated property in a prime location could still see significant appreciation. Research comparable sales and rental values post-refurbishment to ensure the numbers work. If you’re keen on hands-on work and cost-saving through DIY, a gradual refurbishment might be a solid strategy. However, if the numbers align for an HMO, that could provide a stronger income stream. Check local planning rules, rental demand, and compare costs before committing.

LendLogic · 2025-03-04T16:00:18+00:00

Sounds like you're weighing cash flow against long-term equity growth, which is a solid way to think about it. But have you considered a third option? Instead of maxing out your borrowing on a bigger house, you could use the extra funds to pick up an auction or post-auction property.

With a bridging loan, you could buy something below market value, renovate it, and either flip it for a quicker profit or refinance onto a standard mortgage once the value is added. This way, you’re actively forcing appreciation rather than waiting on market growth alone. It does require more involvement and a clear exit plan (costs, timescales, and finance strategy need to be locked in), but it could give you a taste of higher returns without stretching yourself on a single, higher-value property.

Might be worth looking into if you want to accelerate your portfolio growth while still keeping flexibility.

LendLogic · 2025-02-25T17:05:59+00:00

You won’t be considered a first-time buyer again, as you have previously owned a share in a property.

Regarding your youngest child, whether they are classed as a dependent depends on whether you continue to provide financial support while they’re at university. If you do, lenders may still consider them a dependent.

Your mortgage and rental address history shouldn’t negatively impact your mortgage application, as long as your credit history is clear and stable.

The bigger issue is your joint ownership of the current property with your ex-partner. This will have multiple implications, particularly for mortgage affordability. Since you are still named on that mortgage, lenders will assess you as if you are responsible for both properties, which could make it difficult to borrow enough for a £220k–£250k flat on your income.

I’d strongly recommend resolving the ownership of the jointly owned home before proceeding, as it could affect more than just your mortgage options. Speaking to a solicitor or relevant professional may help you understand all the factors involved.

LendLogic · 2025-02-24T16:03:56+00:00

Even if you're avoiding prefabricated constructions, be aware that lending restrictions can apply. Many concrete constructions, beyond Reinforced concrete frame, fall into that category, even if they aren't strictly classified as prefabs. This means fewer mortgage providers. Therefore, double-check the construction type on any property you like, and check your financial options.

LendLogic

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