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Does a 10 year mortgage cost the same as a 2 year fixed five times?
For simplicity let's assume that the interest rate will stay at 5% for the next 10 years and no charges are incurred. Will a mortgage of £100,000 over 10 years cost the same overall (including interest) as taking a 2 year fixed mortgage and renewing for another 2 year fixed mortgage and so on 5 times over 10 years? So say…
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Another unjustifiable rip off charge
Took a mortage out via broker on 14th Nov, the arrangement fee then was £99. Wind forward 3 weeks and not get told arrangement fee is £599. I now have to pay that or dont get it, I am commited now so have no choice. Well it now appears on my mortgage offer 9. INSURANCE Insurnace you must take out through xxxx mortgage…
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Mortgages!!!
Hi there, I am newon here so please be nice:eek: I am looking to get a mortgage for a house worth £220000 and have £120000 to put down as deposit, first time buyer and very good credit history but i am totally baffled by all the mortgages available!!!! Ideally would like a fixed rate for 5 years and to pay it off over…
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Mortgage Promise
Ok - Easy one for you - how long on average does a Mortgage promise last?
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Right to buy, first time mortgage, sounds very expensive?
Hello MSE'rs. I've recently been offered the chance to buy my council home under the Right to buy scheme. Basically for the time that we've been living here we can have a £60k 2 bedroom flat for £18,000. It's too good a chance to pass up to get onto the property ladder. At this kind of cost, does anyone think it would be…
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remortgages
:confused: just bought a house need alot of work doing too it i want too mortgage it. it needs new kitchin ,bathroom,heating, the lot so i wont too borrow on it the house is worth £80000 i want too let say borrow £70000 what the cheapest way too do this if possible interest only loan please advise i own the house outright…
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Remortgage Advice
Hi I dont know if anyone can help but I'm trying to establish what the best thing to do is..... Our fixed rate deal runs out on the 31/3/07. We have been on a fixed rate deal for 2yrs(5.29%) Our mortgage is with GMAC, who have been great the whole time, but as you are probably aware they are for higher risk clients. The…
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Endowment compensation offer query
I have been offered compensation of £2745 by RBS (formerly Natwest) for missold endowments totalling £42500 (two with Norwich Union , 1 with Scottish Amicable). However, RBS have not accepted the main strand of my complaint, that when we were sold our first policy the adviser offered bad advise by persuading us to take out…
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Advice please
Hi Just a bit of a query, my bf and i are going to start the dreaded mortgage process, he has just been left £25,000 by his nan and we have a further £15-£20,000 in savings etc, we want to put down £27,000 for deposit and keep the rest as savings, fees furniture etc, only problem is we only earn between us £28,000 plus…
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tennants in common & remortaging?
Can anyone help? Just been left my mothers house, joint tennants in common with my brother, I'm going to stay in property with my wife as brother isn't bothered about his share for a good while. Is it possible to remortgage my share for home improvments? If so would my brother have to be part of the mortgage agreement even…
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£150K House Purchase - Advice
Hi, I have just had an offer accepted on my new house. I am fortunate enough to be putting down around £115K in cash and will then need to mortgage the remaining 35K. Now being a typical tight Yorkshireman I hate owing people money and especially hate paying interest on mortgage's - as everyone does!! I am trying to look…
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NR Together package alternative
Hi all. My wife and myself have a NR together mortgage. Outstanding info is as follows: Secured Mortgage: +- £150000 Unsecured Loan: +- £30100 Property value: +- £165000 Amazing how the loan was for £30000 and after a year of paying, we still owe £31000... dam those fees! We went for the NR together plan as it suited our…
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Mortgage payment doesn't match the calculator??
Hi I'm confused! We completed on the purchase of our house last week. Got a mortgage for 230,000k at 4.89% (fixed for 2 yrs) for 25 years. Our building society has said monthly payments will be £1344. However when I use the egg mortgage calculator ( or any other mortgage calculators) and punch in the above statistics, they…
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Mortgage excessive fees (bank charges)
Hi guys, I applied to take a mortgage out on 14th November 2006 via a broker. I got the keyfacts which stated charges etc. Last Monday I was chasing up the mortgage offer to see when it will arrive, having committed monies buildings insurance (via broker), life cover (via broker), valuation, searches. I was informed…
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we have a virgin one account but think we need to change any advice?
Hi all we currently have a virgin one account mortgage with £75k outstanding, in march next year we will get about £25-27K from an old endowment we had and we also have about another £10k also in endowments that mature by 2014. I really want to remortgage in March when we get the endowmwnt payout and think that as we only…
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Joint tenants or tenants in common?
We're remortgaging our house Can anybody tell me the difference between joint tenancy and tenants in common and what is the best for a married couple with adult children who do not live at home. Thanks
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Nationwide error-any help please?
Hi I am posting this query on behalf of my mother as she is constantly worrying about it and now i have discovered this site thought that someone may know if she can do anything about it! About 10 years ago my parents moved to Blackpool and shortly after my Dad received a cheque from Nationwide for £32,000 which he was…
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Endowment Claims Warning
In May 2005 I filled in an online questionaire with Brunel Franklin & Co Ltd regarding my endowment. This said that I may be entitled to some compensation. Later on they sent me some forms to complete with the details of my endowment. I had read on the Internet that if you wish to apply for compensation on your endowment…
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Interest Rates
Hi, First post, have been reading with interest over the last couple of days, this is a great site and packed with information so thanks already to everyones contributions!!! To my question, I am currently in the process of moving home, deciding on what mortgage to go for. I am toying with the idea of the woolwich 10 year…
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Anyone dealt with First National?
Hi everyone We are currently awaiting our mortgage offer from First National, has anyone used these before? Also we are hoping to get a 3 year fixed rate of 5.49% - any thoughts? I think this is a little high to reflect our credit history. Thanks Charlotte
