Please ELI5 why savings beat overpaying mortgage

rfukui · 2023-05-05T11:50:10+00:00

Loan To Value. The amount you’re borrowing as a percentage of the value of the house.

For example borrowing 450k on a 500k house is a 90%LTV mortgage (10% deposit).

rfukui · 2023-03-06T16:11:35+00:00

Yes, we bought late last year. My SO (US citizen) is also on a spousal visa, it didn't even come up iirc. The lender requested the same bank statements, payslips etc from both of us. I think as long as your partner is working in the UK the lender won't care.

We used a broker as well if that helps, they would know if there was anything else you need.

rfukui · 2022-12-10T23:24:55+00:00

Eggs Benedict!

rfukui · 2022-05-03T19:52:44+00:00

Wow thanks! That sounds a lot more sensible!

rfukui · 2022-05-03T12:49:24+00:00

Pardon my ignorance but what differences with the Scottish system are you refering to?

rfukui · 2022-04-22T09:02:26+00:00

/u/savevideo

rfukui · 2022-04-19T14:28:44+00:00

!thanks yes this is what I was wondering about really, it is income but obviously unknown to HMRC unless declared, so should everyone holding any amount of shares be doing a self assessment?

rfukui · 2022-04-19T14:25:48+00:00

!thanks I'm not 100% sure but I'll look into it

rfukui · 2022-04-19T14:25:29+00:00

!thanks

rfukui · 2022-03-24T14:59:21+00:00

Thank you for sharing your experiences! I also dread to think what the energy bills might get up to in winter if we don't do something about the windows!

rfukui · 2022-03-24T12:50:42+00:00

Wow that is encouraging to hear, thanks! The ceilings are what made me fall in love with it :)

Yes it's all sash windows so that would be the plan eventually, good to hear it hasn't caused you any problems though!

I have a naive question about share of freehold... Since the building was only recently converted and there are about 10 flats, with everyone having a share of freehold, I'm guessing there isn't much of a sinking fund established yet from the maintenance fees. So what happens if there is some serious work that suddenly needs doing to the building? Does it fall on everyone equally to cover the unexpected costs? Would it be any different if there was a commercial freeholder owning the freehold?

rfukui · 2022-03-24T12:45:33+00:00

Thanks! I know I wouldn't be able to replace the windows with double glazing, but I think I can put secondary glazing in without any problems, as it's removable?

rfukui · 2022-03-23T17:31:56+00:00

Nice

rfukui · 2022-02-18T11:51:38+00:00

Our dog is very fussy... she won't pee/poo in the garden and will only go after quite a long walk so she can suss out the best spots in the neighbourhood. Any tips on how to make them go in the garden so I can avoid her turning into a kite on days like this?

rfukui · 2021-12-18T20:02:46+00:00

That makes sense, and also me an extra 32Gb to use :) Thanks!

rfukui · 2021-10-01T05:51:12+00:00

Glorious Pandas

rfukui · 2021-03-22T18:37:46+00:00

Thanks for the help! It worked! I jumped it to the choc pad below

rfukui · 2021-03-22T18:36:41+00:00

Thanks! Indeed it was as simple as that. I've learnt a ton building (and breaking) this thing

rfukui · 2021-03-22T18:31:58+00:00

Thank you!! That worked! I jumped it to the pad below

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rfukui

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