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10 years of interest,no statements= nasty shock!
10 years ago my partner needed money urgently to finish building a house, he took a loan on our endowment; he borrowed £4,000 aprox. believing that the loan would be added onto the endowment in a similar way as releasing equity in a mortgage. We have discovered recently that the loan has been being charged at 12% per year…
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Change of partner on Mortgage
I bought my house with my sister in Nov 2006. I now wish to transfer my sisters share of the mortgage and house to my partner. Can someone please advise me if this is straight forward? I have the feeling there will be many fees involved and want it to be as straight forward as possible. My mortgage is currently fixed with…
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Mortgage on tax credits?
Anyone know which mortgage lenders take tax credits into consideration? I get a small amount of tax credits to help pay for my childcare and top-up my income (I work part-time) but firstdirect and Abbey have both told me they will not count is part of my income. I do already have a mortgage and its abot 55% of house value…
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Leaving current mortgage: exit fee & interest charge
Hi all, I am in the following position. Before moving my mortgage I did request (telephone) confirmation about the leaving charges. They told me none applied after the end of my 2 year tracker. Also I did review my mortgage offer and the "exit fee" does not appear anywhere. Right before completion my new-to-be-lender…
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Early Repayment on Mortgage
I had a fixed rate mortgage with Northern Rock, we sold our property after 1 year so we had to pay an early repayment fee. We didn't buy a new property straight away but were told as long as we wrote to them they would keep our mortgage open and once we purchased a new property we'd get back the early repayment fee. After…
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Getting a Mortgage. . .
Hi, My boyfriend and I are looking to buy a house together in the early part of 2008. My worry is that I have a default on my credit file from a personal loan. I have just paid this off this month but the default was for a very high amount (approx £7K) The default is dated July 2004. I used to be quite bad with my money…
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Woolwich/Barclays merging
I received some documents trough the post today regarding the merging of the Woolwich with Barclays. We have an Open Plan Flexible mortgage with associated savings accounts, but it would appear from the documentation sent today that the savings accounts will no longer be able to be used to offset the mortgage! I don't know…
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Worried incase cant get a mortgage
Hello There, We've just put our house on the market, and have contacted our existing lender (A&L) to see how much money they would allow us to borrow. They said they would lend us £180,000, but, we really need £190,000. Husband is self employed, they said they would need to see books for the last 12 months, but, he cant…
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Consolidate existing debts into Mortgage?
I am currently spending a fortune renting in London, so am interested in getting on the property ladder in the next year or so, going in jointly with my girlfriend. Problem is we each have personal debts of about £10k. These are gradually clearing but will take us both a few years yet. What I was wondering was is there a…
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Endowment misselling sour success
I tried myself to contact my IFA due to being missold an Endowment but could not find him so I contacted FSCS who said he was not in default so they could not help me so as a last resort I employed a firm of Solicitors at 30% commission to try and get me compensation,they said they were unable to get me compensation also…
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ISA charges
Hi - wondering if someone can advise me? I have had a Legal and General ISA where I pay in about 160 per month, which is set to mature in a good few years to pay off the capital side of an IO mortgage. Of this I pay approx 268 per annum in charges direct to L&G. I do not feel these charges were not explained in full to me…
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If you are self employed?
Hi For the first time ever I am going self employed. Altough I will be earning at least 10K more than when I was employed I am worried on how this will impact me if I ever want to re-mortgage my house or even buy a second property. What do mortgage lenders require when dealing with self employed individuals? I am thinking…
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Selling endowment
Hi All I have a standard life endowment, which matures 2011. However, it seems to me a better idea to sell the endowment as the amount it increases by, is far lower than the amount of interest i am paying on the mortgage, so i think it would be a better idea to sell it and pay the lump sum straight off the mortgage. We are…
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Proof of identity/address
Hi, Preparing to go and see mortgage advisor next week and hopefully come away with an AIP at the follow up appointment. I'm just trying to foresee any problems and I was thinking, when you apply for the AIP or the actual mortgage, what sort of proof of identity/ address do you need, or does it depend on the lender? I…
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Opinions on Interest Only for the First Few Years......
Ok, here goes, we rent at the moment for a fairly reasonable £525 for a 2 bed duplex flat in the town centre which is just about right for the area. However, that is about the maximum we can afford at this point in time due to paying off previous debts etc, so the is virtually no disposable income left at the end of the…
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Can you reclaim mortgage charges
if you defult on a mortgage payment and they charge you like 50 pounds can you reclaim it the same way you reclaim bank charges for none payment of dd's
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Seller pays stamp duty
We are considering placing an offer to buy a property that has been on the market for ~ 6 months. We were considering asking the seller to pay stamp duty as part of our offer. However, it seems that, surprisingly, this isn't a very common practice. Is there any reason why this is the case? Are there any implications to…
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Capital Gains Tax
need some advice on capital gains tax. My hubby & I are already home owners and we have recently taken out a further buy to let mortgage on a property which we paid £85K for. It has had around £10,000 spent on it and is now worth approx £120K. If we decide to sell the BTL mortgage has no penalty fees for early surrender…
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mortgage set up fees
With all the recent talk of mortgage exit fees, i am interested what people's advice is on the excessive set up fees that mortgage lenders now have. I just recently transferred to a new product, with no exit fee but a very large set up fee of £799. I can not fathom how setting up a new mortgage costs £799 given that it is…
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Miscalculation of monthly repayment
Hello everybody, I need some help please!! I started an interest only mortgage in 2004 (for a sum of approx £240000) but by the end of 2005 I realised my mistake and converted to repayment mortgage. Then again I found out by the begining of this year that the bank was still deducting interest only and my capital has not…
