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Mortgages & endowments

Archives for January 2005

borrowing for a house
I am currently looking to buy and do up a house but I need to borrow the deposit which will be around £12000. I will then have the mortgage and the loan to pay off which I will be able to do if everything goes to plan. I have built in a bit of contigency funding for any unforseen costs. Does this sound feasable? I'm a bit…
10 yr fixed rate
I've got 10 years to go on a repayment mortgage and i'm thinking about a 10 yr fixed rate mortgage of 5.24% including all fees. What do you think about a 10 yr fixed rate?
Abbey offset mortgage - arrangement fees
Folks :- I currently have a first direct offset mortgage which I was very happy with due to it's flexibility. When I tried adding my fiance onto the account it got refused as she's got a poor credit rating. (We know - it's all getting paid off, but the time frame is something like 3 years before everyone is happy. I have…
Should I Keep Paying Into My Endowment
We started paying in to a mortgage endowment in June 1998 and after viewing my latest statement it mentions that we may not hit the targets set to pay off the debt when the mortgage finishes. The current mortgage is split between repayment and endowment and the tie in to the better rate runs out in July this year so we're…
Endowment extending into Retirement
My partner and I were sold an endowment policy 8 years ago - it was supposed to give us £110,000 in 25 years time (to cover the mortgage). I have had the red letter stating that the policy is under performing etc. My partner is 11 years older than me and she will expect to retire at 60 (in 10 years time). The endowment…
Endowment Missold
Following investigation of the sale of my endowment policy. Halifax informs me they sold their shares in HTC and with this sale went their legal obligation and liabilities for this Company. Our complaint has been upheld and it was felt that an endowment was not the most appropriate method for us to replay our mortgage.…
Endowment payment
I am currantly claiming to the FSA for 2 miss sold policy,s 1988&1992 My qustion is that have just recieved a letter from ALBA LIFE for the policy taken out in 1988 stating that my lowcost endowment the monthly payments where to low(when the policy was sold 1988) and we should have been paying £5 extra per mth. They are…
Longest Possible Mortgages for Over 50's
Hi I suspect this is a common problem for those of us who have to start again after the age of 50 (I've just had a brush with my 53rd birthday) with only limited funds for house purchase and not currently owning one! My last house - bought only in 1999 was less than £50k - and so I was able to obtain a 15 year mortgage…
Foreign Currency Loans - Where? How?
Hi All, The Title probably says it all. I have a foreign European (German) Mortgage for a property here in the UK currently valued at approx 750-850k. But I'm trying to get the mortgage interest rate down. I know that there are Japanese currency loans at between 0.75-2.5%, and My friend has a 2.5% euro mortgage for his…
Help On Remortgaging
Pls I Need Help On How To Get A Good Deal On Remoertaging. I Have A Rental Property Nad Need Money Urgently For Some Purpose And Want To Re Mortgage. Pls Where And How Do I Get A Good Deal Thanks Dambuwa
getting many mortgage agreements impairs credit ratings is this true?
I am trying to buy my first house. I was told by a mortgage advisor attached to an estate agent that each time you ask companies to give an agreement-in-principle for a mortgage this leaves a "footprint" on your credit score which is viewed negatively by any subsequent companies that you ask - is this really true? If so,…
First Direct Offset Mortgage
Does anyone have any experience of this mortgage, we are being offered one by L&C at preferential rates and it seems to suit us as we have a fair portion of savings to offset. Just wondered if anyone had any thoughts/experiences - good or bad?
thanks for the mortguage book martin
thanks for the mortguage book martin got mine today top reading thanks anyone else manage to receive theres
Remortgaging after Only 7 Months
I hope someone can help with my query. My partner and I took out our first mortgage back in June. I went with Co-operative Bank because of the lack of a redemption fee (apart from a deed release fee of £85). I have just found out the fee has now been raised to £195. I have trundled through various websites looking for…
Remortgage query
We took our first mortgage in 1983 and every time we moved we still aimed for our mortgage to finish in 2008. This resulted in quite expensive endowments and ISA'S. Our current 2 year deal ends in June and I'm just looking for advice for the next 3 yrs. Our outstanding amount is £93,000, £83,000 interest only and £10,000…
Traded Endowment Policies (TEPS)
Has anyone experience of these. I have seen a seminar on paying school fees by a plan backed with TEPS. It sounded to good to be true, so probably is.
Interest only vs Capital and interest with an offset mortgage
I have received some advice recently that it would be better to have an interest only mortgage than a capital and interest one when it is an offset mortgage. The reasons I was given are as follows: If I choose interest only, but overpay to the sum that I would have paid had it been a capital and interest, I will pay less…
calling mortgage brokers...help!
Any suggestions from mortgage brokers welcomed. I want to purchase a 3-bed freehold property in north London for around £262k. The refurb work is around £43k and there are £20k for transactions costs and interest. The refurb work consists of renovation (new kitchen, bathroom, electrics, plumbing, windows, decorating and…
Will any lenders lend us what we can AFFORD?
My partner and I are self employed. Our combined annual income is around £30,000. We currently have a business loan which is being repaid at £1200 per month. We are paying residential rent of £550 pcm. In a few months time the business loan will be paid off and we would comfortably be able to afford £1500 per month in…
Endowments, fit for purpose?
The previous posting appears to have disappeared in the recent upgrade, so I'll post it again: Hi, I've ploughed through some of the earlier posts regarding endowments and fitness for purpose, I thought I'd add this: Should endowments be fit for purpose? I've written to my MP regarding endowments and fitness for purpose,…

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Mortgages & endowments

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