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Mortgages & endowments

Archives for January 2006

Mortgage Adivice (Deposits)
I have been told that there is something called a 'Vendor Gifted Deposit' for those who can't get a deposit together. How does this work, and is it legal?
Cost of loan
Hi I wonder if any of you can help me. I lent my father £5,000 to buy a car and he is insistent on paying me back plus some interest. I'm not interested in making any money and therefore only want to charge him what this 5k would have cost me on the mortgage (approx 5.05%) over its 5 year duration. He paid me £100 per…
Help!! mortgage advice needed..........
Hi Apologies about the length of the post but can anyone give us some advice on the best way forward please? Our current outstanding mortgage is £66k (£31k repayment, £35k interest only) on a fixed rate of 5.69% (the fix still has 5 years to run), which is due to be repaid in 10.5 years. Current redemption penalty would be…
Missell claim rejected in 2003 but letter received
Can anybody advice why Barclay's have written me a letter telling me they will review their decision in May 2003 not to award compensation. Briefly, in 1985 I took out a £40k Standard Life Endowment sold to me by the Woolwich B Socierty. By 2003 a large shortfall was projected and I applied for compensation. Barclays, who…
brokers & their identity & PMs
A number of " brokers " / advisers/ IFAs now contribute to this site, a lot of the signatures are similiar (I should have copyrighted it!... albeit now altered mine), although some seem to have a greater "sales" slant than others . Perhaps those that are obviously "advisers" shouldbe made to put their homepage link to…
MPPI on Joint Mortgage
Sorry if this has been asked before but I did search and couldn't quite see the answer I wanted! We have just bought our first place and we both work full time earning about the same salary. I want to take out MPPI and have read Martin's article. Can someone tell me: * If there is Joint MPPI available and who is most…
Should I pay my mortgage off early?
Advice/opinions please. I owe 13,665 on my mortgage. I'm paying a hefty 6.59% to the B&B. It's an endowment mortgage with exactly 5 years to run. Repayments currently £109 per month. I'm also saving £50 a month in an ISA to shore up my failing endowment. I have been given a redemption figure of 13,932. We currently have…
Equity Release Repayment Penalty?
I wonder if anyone is able to offer an explanation / advice / suggestion to the following problem I have? In June 2000, we took out an equity release (Fixed Rate Lifetime Mortgage) amount our house, with Norwich Union. We now think that we were badly advised, but that is water under the bridge. The loan was for £41,400…
repayment or interest only and overpay equivalent to repayment?
hi just ahd 2 quotes from bank, £70000 over 15 years repayment £550 per month £70000 over 15 years interest only £321 per month. if i make over payments of £100 per month on interest only, i will have knocked £30000 off the capital at the end of the 15 years. house is cuurently worth £280000, and i intend to downsize &…
Is this endowment worth keeping ?
Company : Legal & General Maturity Date : 07/11/14 It was taken out to repay a £ 60,000.00 mortgage 07/11/89. Monthly premium £ 73.10. From Y/E 2004 Statement Basic Sum Assured - £ 18,360.00 Total Existing Bonuses : £ 9,374.50 Total New 2004 Bonuses : £ 254.90 2004 annual bonus rates on : sum assured ( 0.75% ) on existing…
endowment missell but already cashed in?
silly question probably but - If someone was missold an endowment but has already cashed it in would they be able to claim?
repayment v interest only
can u change your mortgage from repayment to interest only keeping with the same bank? and can this be done within the first year of mortgage being taken? also is this a good way of freeing up cash to pay other debts off early
igroup mortages/adverse credit
I have some adverse credit due to my divorce. 3 defaults. No CCJs or anything. I wish to remortgage to release equity to pay off these and repair my credit record. High Street lenders won't go near me it seems. I have been offered remortgage by igroup. I have never heard of them. I would like to know if anyone can say if…
Endowment compensation
This may seem like a put on but it's a genuine question! I took out a mortgage several years ago with an endowment insurance attached.My insurance company has written to me stating that at maturity it will be insufficient to pay my mortgage off let alone give me some extra cash. However....I have already paid my mortgage…
Endowment shortfall and the advisor no longer trades...........
We took out two endowment policies in 1991 when we moved house. A local financial advisor, affiliated to Legal and General, was recommended to us and we took his advice, which was an endowment would be best for us as we would get a lump sum back in addition to paying off the mortgage..... The Financial Advisor became a…
Mortgage Assurance
Can anyone answer this query please. Do lenders insist on borrowers taking out mortgage assurance cover for repayment mortgages?
Mortgage and student loan
Hi there, I wondered if people could offer any advice. I have a small student loan to pay off - £1085.89. The monthly repayments are £79 and the interest is 3.2%. My boyfriend and I are looking to buy a house this year and I don't think we will have a problem getting a mortgage (I earn £28k and he earns a couple of grand…
FTB in a pickle
This may be a long shot but it would seem that you are a helpful and knowledgeable bunch!! Here's my predicament.... I'm 30 with not a penny in savings. I have an old CC which I defaulted on years ago and am still paying off (had long argument with them about repaying hence the amount of time to pay it off!!!). The balance…
WARNING - Mortgagebundles.com
DO NOT sign up with this bunch of clowns unless you want to be bombarded with spam emails from them. I get emails (the same email) at least once an hour. I've asked them to stop but despite saying they will the emails persist. :mad:
Buy to let?
Hi all, We've outgrown our 2 bedroom maisonette in South London, and want to move to the coast within the next 18 months. The maisonette is worth about £150k and we have £23k left on the mortgage. Our income is about £40kpa. I think we could probably get £700 per month by renting out the maisonette. My question is: Any…

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Mortgages & endowments

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