-
Permanent Mortgage - ever heard of it?
Hi everyone, Hope this is an appropriate post! We're having a problem with a major lender and are getting stumped at every turn, so thought I might ask here as the advice is always superb. Brief snapshot of the saga: Parents home, mortgage in Dad's name. Dad dies, leaving everything to Mum with a small mortgage. More than…
-
Advice please on taking mis-selling case the teh Ombudsman
We were sold an endowment policy on 30th April 1988 (one day after the Financial Services Act came into play) to pay off a £75k mortgage. AT the time my fiancee (now my husband) and I both had endowment policies which had been running for about a year and were told to cancel them as it would be better to buy a shiny new…
-
advice sought - 1st time buyer
first time buyers (1 with a poor credit history) with a guarantor seeking a 100% mortgage... who should they go to?
-
Endownment compensation offered - please help!
Hi I hope someone will be able to help me. My mum was sold an endownment mortgage to buy her council flat in 1997. The policy was for 10 years and £15000. She has since sold that flat and taken a new mortgage for £10000 but still has the policy for £15000. She received the shortfall letter (£1800 shortfall) and we did a…
-
Floatation of Norwich Union
I have joint life mortgage endowment policy with the Norwich Union which was taken out in 1988. It came with a Woolwich Mortgage. I have been told that NU issued shares to policyholders in around 1996 when they floated. Can anyone enlighten me as to if I should have been informed of any entitlement.
-
Tax on Mis-selling Settlement
Hi, I have been offered a settlement on an Endowment mis-selling, whereby the Insurer will refund all my premiums plus interest, but void the Policy. However the interest they have offered in subject to Tax at 20%, despite the policy running for over 10 Years. I phoned the Inland Revenue and queried with their Guidnce…
-
buy to lets - mutliple house buy funding?
Was wondering if anyone could help. I want to buy a few properties in the north of england which are cheapest at the moment. I am finding it difficult to borrow for a house worth less than 50k. I would like to have funds availabe to be able to buy a few at auction. I can pay 15% deposit, any ideas on who can help? thanks
-
Buy To Lets - Multiple House Funding?
Was wondering if anyone could help. I want to buy a few properties in the north of england which are cheapest at the moment. I am finding it difficult to borrow for a house worth less than 50k. I would like to have funds availabe to be able to buy a few at auction. I can pay 15% deposit, any ideas on who can help? thanks
-
Making over payments or so we thought?
We moved some 14 months ago and continued with Nationwide as our mortgage provider and took out a 5 year fixed term with them. We decided we were in a position to increase our over payments from £100 to £200 a month and thought this would be a good idea with the interest being calculated on a daily basis. However, stupid…
-
standard life refund?
I have been told by an IFA that Standard life have offered to pay upto £350 per policy for financial advice that has been taken regarding endowment policies. Does anyone else know about this? I can't find any reference to it on the paperwork I have received.
-
Employed + Self Employed (Mortgage query)
I think I'm right in saying that normally if a working couple apply for a joint mortgage, it will be decided on a specific formula of so many times the main wage plus so many times the second. What happens if the main earner is employed and the partner is classed as self-employed (small income). No business as such, no…
-
long Term Fixed rate (a good idea?)
Hello My current fixed rate mortgage (with the Nationwide) is due to end in the next few weeks and I have been looking around for the next deal. I have discovered Northern Rock are advertising a 15 years fixed rate at 4.99% (though they have pretty enormous setting up fees). Surety of payments is an important factor to me,…
-
Paying off Mortgage early
I have read that paying off your mortgage early isn't a good way to create wealth.... the book was 'The truth about money' by Ric Edelman. His idea off keep the Mortgage because it is the cheapest money you'll ever borrow and instead put extra money into a higher interest account but he is an American FA writing about…
-
Islmaic Mortage for a non believer?
I'm sure most people are aware of the Sharia-compliant muslim mortgages, where instead of paying interest, the building-society buys the house and rents it to you at a profit for 25 years and then gives it to you. I am told that the people who have these mortgages often find themselves unemployed at which point they get…
-
Wether to borrow or take out mortgage?
Have just put my bungalow on the market and hope to buy one weve seen. We dont have a mortgage but Halifax have our deeds in deedstore, the problem is that there is a difference of £40000 gap on the property we want and we can cover half of that with savings, next May 2006 I have a flexibond maturing which will cover the…
-
Cancel Endowment?
My son bought his first house about 10 years ago with an endowment mortgage. Then a few years ago, he sold and bought another house, this time setting up a repayment mortgage on the new house, but kept the endowment as a kind of savings plan. Like many others he has now received the bad news that his expecting £45,000 will…
-
Pension mortgage
Nearly 20 years ago, I was sold a pension mortgage which matures in 3 years. As it is not an endowment we have not received warnings from the mortgage company. The Scottish Amicable fund has not performed well and to pay the mortgage we will have to add cash as 25% allowed from the pension pot is not enough. Does anybody…
-
Overpayments
Can anyone tell me please if it is better to make monthly overpayments or to save the money and make a one off capital repaynent each year on 70k at 5.75% with 19 years to go.
-
my mortage problem
I have a big problem i need a mortage but have adverse credit and in accordance to the experian report and financial advisor this is not because i have debt but because i sold my house and cleared my debt after a period of non payment though illness and the loss of my business (business was a ltd company and no charges…
-
How long does it take to remortgage?
Hello, I began a 25 yr mortgage last April, fixed for 2 years. When the fixed bit ends, I expect I will be moved to the SVR. So, I expect that I will want to remortgage in 14 months. It's a fair way off yet I know - but when should I ask my lender what they can offer me after April 06, and start seriously checking out…
