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Overpayment of mortgage - interest only Vs repayment
I have a mortgage comprising of approx 17K interest only and 63K as a repayment. I have been overpaying the mortgage by £50 per month. I just learned that this is being split equally between both parts of the mortgage. Which is best for me - to overpay the interet only portion? or the repayment portion? Or does it not…
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How Do I Sell an Endowment Policy?
Hello Everyone. After following much advice from this wonderful forum, I am now considering surrendering or selling my seriously underperforming endowment policy. I have received a surrender value from my provider and I would now like to obtain some quotes for selling the policy. Could anyone point me in the right…
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Partner has poor credit rating...?
Partner has poor credit rating, missed CC payments etc and not on electoral roll yet. I am selling the current house and buying another together. I can get the mortgage by myself but we want it as a joint mortgage. Will my partner’s poor credit rating have a negative effect on us getting a mortgage together even though I…
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Accord mortgages
Anyone heard of/hold any opinion on 'Accord' mortgages? I suspect they must be someone else in disguise.
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Paying off the mortgage
OK I'm all set to pay off my mortgage, but ... There's five years left to run, it's a straight repayment mortgage. Total amount outstanding is just over £20k - and payments over the next five years add up to... just over £20k. Does this mean that I have effectively got a £20k interest free loan. Am i better spending the…
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Remortgage failure.
I have been turned down for a remortgage with extra borrowing due to affordability. I have several loans which seem to be a problem. I intended to use some of the extra borrowing to consolidate these loans, would it have made any fifference to their decision if I had told them this? Also, the company was Bristol & West,…
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Investing Endowment Compensation
I have recently found out that a complaint against my endowment provider re. misselling has been upheld :j (although a second has failed :( ) and I have been awarded £4700 in compensation. The question now is: What is the best way of investing this money given that the projection for the endowment forecasts a shortfall of…
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Stung by renovation costs
I took out a 2 year mortgage product with Abbey for 83K which expires mid-Dec. I owe 78K, have a house now worth about 137K+, and have a number of unsecured debts for the renovation costs, which mean I want to add 45K onto the new loan. Trouble is, they aren't looking favourably at all on this additional borrowing and say…
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More money required please
I have my own business, single divorced. My home is worth approx 330K with a 20K mortgage. Not much mortgage I know however I have a business loan and overdraft secured against the property amounting to about another 50K. Unsecured personal and business debt amount to another 20K. I am a sole trader so it all amounts to…
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What is the best time of the month to move?
If you are a first time buyer I think you might have to pay more than the monthly amount of the mortgage in the first month of your occupancy. I am not clear why this is the case. I have been told that if you are redeeming a mortgage and stating a new one with the same lender then there is not any time in the month which…
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Who offers 5X income
After reading a previous post regarding Abbey offering 5 X income. Various people said this wasn't new & many others do the same. Can somebody tell me who these companies are, as you can waste a lot of time talking to a company only to be told they wont even consider you. Thanks.
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Remortgage advice.
Hi, I am attempting to remortgage, can anybody tell me if you are required to disclose your credit card debts in your application. These debts will be cleared within the next few months and I don't want them effecting my chances when applying. Basically my question is; if you do not declare credit card balances, are they…
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Fixed rate interest only mortgage
I only have 4years left to run on my mortgage. I am trying to find a fixed rate, no fee, no penalty for early repayment, interest only mortgage for the remainder of the period but because the outstanding debt is under £50,000 (£44,500) I am having difficulty finding a mortgage lender who is competitive. My current lender's…
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ombudsman delays
I have been waiting over 6 months for the ombudsman to investigate the probs with my endowment, keep getting letters apologising for delay due to number of claims...........fair enough but does anyone know what the waiting time is for them to actually start work on it? Beth xx
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First time buyer - advice
Hi Everyone I'm currently renting with my Fiance and giving thought to what to do in the future. I'm new to all this so would really appreciate some advice. About us: Me: 25 Her: 21 Where: live in Birmingham Debt: about 7k + student loans (8k each) Current outgoings: Rent £800 / mo - Car £200 / mo + utilities etc Income is…
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Advice on Buy-to-Let Mortgage
Sorry if this is a regular question but I'm totally in the dark regarding Buy-to-Let Mortgage. Me and my wife are considering on buying a flat near us to Buy-to-Let and just wondering what kind of figures I'd been looking at(We've already got a mortgage for our house). The flat is on the market at £68,000 and that's all I…
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Cheltenham & Gloucesters taken my money
I went to my local lloyds bank to see about remortgaging & refixing it with the C&G,but the C&G refused the loan of the extra money.We were advised by the bank official that other mortgage providers might be willing to loan the extra money so nothing was agreed or signed at that time.A few days later we receive the papers…
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3 year or 5 year fixed rate?
I've decided to go with Brittania BS but can't decide if to go with 3 year fixed or 5 year fixed. I'd be interested to know what you guys gut instinct is regarding the interst rates that seem to be on the up at the moment - Thanks. :confused:
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is this the best product at this moment?
is this the best product my current mortgage needs to be renewed I have been offered an Abbey 2 yr fixed 4.88% with £799 fee added to loan, £1300 redemption for the 2 yrs pls help thank you
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2 questions....
:hello: Hi! I've got 22 years left on my mortgage which is £70k, equity of £80k, i earn £23k and my current payment is £465 a month, 5.75% SVR (:rolleyes: I know, I know) with the Abbey but am in the process of looking around and re-mortgaging. Would like to buy a new car that I'll need finance for (c. £7.5k). Best to put…
