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First time remortgage
Hi, I'll try to be as helpful as possible in relation to figures. We are coming up to the end of our 3 year discount tracker mortgage with A & L in September. We took out 95% mortgage on a replayment basis for £45k ish for 20 years and now owe about £40k ish, the house is now worth £85-£90k. We pay £316pcm (at 5.59% having…
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paying tax on endowment compensation
I received a cheque for £1300 in settlement of my complaint. In amongst the complicated calculations was almost £4000 interest. My accountant says I have to pay 20% income tax on this which will mean that my actual compensation will be reduced to around £500. Does this sound right?
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Comparing Interest Rates
I'm just trying to juggle my mortgage with credit cards, savings accounts and overdrafts. I have just noticed I have an overdraft with First Direct that I have never used, which has a rate of 10.9% EAR. Is this directly comparable with APR. I think my Northern Rock APR is 5.99%. How are APR and EAR calculated? In my own…
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Gutted. Remortgage. House valuation too low.
Just spent the last 2 months going through the process of remortgaging for better rate with First Active only to have the house valued at £80000, £3000 less then the outstanding mortgage balance.... a drop in value of £20000 ina little under 2 years.... Is there anything I can do??? First Active have already made an offer…
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Advice for first time buyer?
Hi, I've just had the advice from the mortgage broker and I'm stuck in a catch-22 situaiton. Based on the salary of my wife and I, the absolute max mortgage we can get is £150,000, which isn't really enough, well its right on the border of the prices in our area, we were really hoping for around £170,000. My aunt has…
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Mortgage and job loss
We currently have a large mortgage and my wife is being made redundant at the end of August. Despite her best efforts she has been unable to find herself a job so we spoke to our mortgage company to see if they could help us out. The only help they could provide us with was to make half payments for two months. We have now…
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Mortgage Final Repayment Charges - worth knowing!
Just a word of warning to anyone with a mortgage - I have recently repaid my mortgage with Barclays/Woolwich for which I was charged a Final Repayment Fee of £275 - an increase of over 40% on the £195 listed in the documentation when I took out my mortgage 13 months earlier. Unlike a fee for going overdrawn, for example, I…
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endowmentaction
Well, I eventually decided to heed Martin's words and get my endowment complaint process started. Unfortunately the endowmentaction website is not up at the moment. You get the following message: I've not got a reply back yet - Anybody any idea when it might be working again?
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Advised NOT TO have endowment
Back in 1990 my Independent Financial Advisor arranged my mortgage 'Interest Only'. But advised not to take out an endowment with this mortgage, but instead pay the money into private pension scheme :confused: I was told that this way it would yeild me a better return than in an endowment policy. Okay, took his advise, he…
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Help Endowment Ombudsman complaint in.
I complained about a Mis-sold L&G endowment but was refused by them so have took the case to the ombudsman who have sent me a letter stating it takes 2 months to review the cases. I have now accepted an offer on the flat I have the endowment with but what should I do if it is fully sold before the ombudsman comes back? Am…
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Right to Buy Guarantor Mortgage?
Hi all, I'm a newbie hoping that someone wise might be able to advise me! My mum wants to buy her council house under the Right to Buy scheme (we are in Scotland) but is over 70. We wanted to get a mortgage in her name (it can't be in joint names as I don't live with her) but for me to make the payments. We initially…
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PLEASE HELP - Mortgage app. will I get found out? fraud
Please help! I have split up with my boyfriend who was a big bully and I cant even have a conversation with him anymore. I had a joint mortgage with him and the house is just a mins walk from my parents and so it means alot to me that I keep it. To cut a long stroy short he agreed that I could buy him out and I recently…
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bankruptcy record
I was made bankrupt 10 years ago (debts about 15k)- before i met my wife (she doesn't know). We have had a joint mortgage with abbey for 4 years. When I applied over the phone - I told the advisor about the bankruptcy, she did a search & said there was no record of it & that I should just tick the 'no' box on the paperwork…
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Question re cashing-in Standard Life Endowment
Dear Money Savers, I'm looking to cash-in my Std Life Endowment policy. It was started in 1998 as is made up of: 50% Managed Fund 50% Life With Profits Fund I have found a few web sites that deal in the second hand market (TEP) but they only deal in policies that are 100% With Profits. Can anyone tell me if it is possible…
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Pre 1988 mis-sold endowments
Help please! I was sold a Standard Life policy to cover my mortgage in 1983 which pays out in 2008. As it is pre 1988 it is not covered by the current FSA legislation, but as far as I am concerned it was due to pay out in the region of £30,000, but it will be £11,000 if I am lucky. Also the maturity date is when I am 64…
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Re-mortgaging Stress!!!!
Hi Guys Wonder if you can give me any advice. I have tried to download the free re-mortgaging guide but it isn't working. Our current 2yr fixed rate has just come to an end with the abbey. I have seen a mortgage adviser and he suggested a 2yr fixed with the Nationwide on 4.85% The most important thing for us is to keep our…
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Urgent - Need Ex To Buy Me Out
Hi, this is pretty urgent. I bought a house with my partner (now ex) last year using the equity from a house I already had. I left him 6 months ago due to his bullying nature and now he is refusing/stalling on buying me out. I am totally broke as I am continuing to pay half the mortgage on that property plus my existing…
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Recently qualified Graduate needs mortgage now before starting work end Sept 2006
Hi Recently graduated and have a job commencing at the end of Sept 2006 on £22k. Would like to buy a home NOW i.e. before starting work. Will anyone lend before starting work on the strength of an accepted job offer? Job is with a PLC, non-probationary and on a Graduate Accelerated Programme. What income multiple might be…
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Tracker Mortgage
Hi, Myself & my wife are currently looking at remortgaging as our existing deal is about to come to an end in August. We have been with the abbey on a 5-year fixed mortgage of 5.75 % originally borrowing £64,500. Although we knew what our monthly payments were for this mortgage which made it easier to budget, I know that…
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"Unknown filled ground" - Are A&L likely to pull the plug?
I'm hoping to complete my first property purchase within the next couple of weeks. It's a small semi-detached studio bungalow situated in a decent area of Leicester. The mortgage will be with Alliance & Leicester and I'm paying a 5% deposit. The land search was carried out nearly a month ago which highlighted "unknown…
