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Moving house, suddenly unemployed . . . HELP!
We put our house on the market in May to downsize and realise some equity (and clear some debts). Due to complete our sale next week, but main bread winner was made redundant on 30 July, so we are finding it impossible to source a new mortgage for our new house (approximately 60% of total). We have a good credit rating…
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Advice re mortgage endowment complaint
Hi folks, I have been on the consumer website where it writes an automated letter for you. However, I have put down the following: The reasons I am complaining are as follows: • The endowment was not suitable for me. The adviser did not explain there was a risk the endowment would not meet the target amount. The adviser…
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Foreign Mortgages on Uk Property?!
Hey all I just wanted to clear something up following a chat with a work colleague. We were discussing mortgages and she mentioned she had read something that in Japan (?! dont quote me on that) mortgage companies were bringing down costs by taking into allowance what the person borrowing was going to inherit. Firstly -…
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Car Loan Affecting Mortgage Amount?
Hi All, This is my first proper post here so go easy on me ;) How much does extra expenditure affect the mortgage amount a lender is willing to offer? I'm looking to move house next year and get a joint mortgage with my girlfriend (currently we live in my property with my sole mortgage). My current car has no finance…
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So confused
Hi, I am so confused by all this mis seling thing. I am struggling to recall much about my policy, we bought in about 1990 I think, it was with Norwich Union, and I think it was mis sold in as much as I recieved little or no advice about it at all, just remember it being the only offer on the table. I think the broker (or…
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Help! I need a mortgage for a 2nd property
I live in a flat for which I have now paid off the mortgage. I'm looking to buy a 2nd property which I intend to move into. I will then draw a second income by renting out my flat. I recently gave up my job to go freelance which I have been doing successfully since January and here lies my problem.... I can't find anyone…
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Fixed v's Variable
As a FTB what would people say is best? (im now getting quotes for repayment as oposed to IO, due to advice given) Co-operative bank do 100%, varible rate 5.39% which per mth for me would £430. The fixed rate comes out Mon for them at 5.94% per mth would be £468. Im thinking fixed rate is better as FTB to know exactly what…
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Can a CCJ be revoked a year later?
Hi all I might be needing a BTL mortgage (hopefully not - read my other thread in Mortgage Free Wanabee) and I have only a few options as I have a CCJ recorded against me from a year ago. I've been digging to find out what it is and have finally heard back from the Courts. It's for £100 and was registered in July 2005 to…
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End of fixed rate
In the next 6 months my fixed rate mortgage will end, thus moving me on to a higher rate. Can I go back to the same lender and apply for a new fixed rate mortgage ? Or do I have to move to another lender ?
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remortgaging confused
I though t I had this all straight in my head but a mortgage adviser phoned today and left me totally bamboozled. The situation is my partner and I do not have a good credit rating. We currently have a mortgage for 159000 with Platform at 6.29% £1288 per month 17 years left to pay and a secured loan with London Mortgage…
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paid off mortgage, should i keep endowment?
I have an endowment plan with Abbey National. Thanks to an inheritance, I was lucky enough to completely pay off my mortgage but would like to know whether it's worth keeping up the endowment payments or cash the plan in to pay debts or start a pension. I currently pay £64 per month. I've actually paid £7111 to date (since…
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Redemption Fees
Hi, Does anyone know if theres a wayout or reducing redemption fees? Basically I got into a bad deal where I was tied in for 3 years and if I leave early I would have to pay 6% early settlement which works out to be about 15k-16k this as you can imagine hurts! to give someone 16k of MY equity for no reason? Was just hoping…
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Help! Complete novice first time buyer!!
My story: I'm 29 and have been living at home with my elderly mother up until 2 months ago, at which time I recently moved into a flat with my girlfriend paying £325 a month in rent. My mother has just been offered sheltered housing accomodation and so is going to sell her house. I'm interested in buying it off her, and…
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Need mortgage advice
Hi Guys I want to buy the property of 244K and I m going to give the deposit of 30K- so I need the morgage of 214K but my salary is only 40K? can anyone tell me who will be able to borrow me the amount and whats the best way to get the mortgage done? Also will the mortgage company charge me more interest because i m…
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Advice/comeback
It's said a few (many?) times on the board that by completing through a broker who gives advice, rather than going direct or via eg Mortgage Genie, you have more "comeback". Comeback on what exactly? Some as yet unknown mis-selling scenario?
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Buying at auction
How does it usually work if you need a mortgage for some of the costs of buying a house at auction? If you have to pay within 24 hours, the mortgage co. won't deliver within 24 hours will they? Obviously you will need an agreement before sale, will they require a survey report? How much will one cost these days? We are…
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Housing Association Property - Fixed Equity - Mortgage Advice PLEASE!!!!
Hey I posted earlier and got a great response from Mortgage Mamma (thanks again!) regarding shared ownership properties and mortgage lenders. However.....I have just been informed that the housing association property we are going for is actually a FIXED EQUITY option at a purchase of 60% only....no chance to staircase but…
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Does making capital repayments pay off
Dear all Could anyone out there please advise, we were in our opinion mis-sold an endowment in April 1990 the policy with Standard Life was taken out through a mortgage of £28000 from the now Northern Rock building society. On the 17 May 2003 we submitted a claim to the Northern Rock on the grounds of mis-selling having…
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Valuation for remortgage
I'm wondering what valuation of our house to use for a re-mortgage application. Houses of the same design as our 1970 semi are on the market locally for £145k-£150k. However ours is a particularly unimproved example - we have the original 1970 kitchen and back boiler fired central heating, half the (original) doors and…
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one account queries..
hi all i hope someone can help me with these queries on the one account. 1. Why do they say that people in your house who are not dependancies need to take legal advise before you get this account? 2. I'm trying to get my head around the 'facility' bit. We would be looking for a mortgage of £35k with 15k savings (over 9…
