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Switched product with existing lender charged £295 - can i claim any back?
The product i was on had come to an end and the interest rate was going back up to the SVR so we wanted to switch to a product with a lower interest rate. The mortgage payments would have increased by £100 a month if we hadn't. Thinking that switching with our existing lender would be simpler/cheaper it still cost us £295…
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Bypassing the interest on your mortgage?
This may be a stupid question, but is there any way of exploiting the 0% rate on transfers for some credit cards to get around paying interest on some of your mortgage? For example, you get a new CC with a 0% rate on transfers with a credit limit of £5k. Effectively, this CC is lending you £5k interest free, typically for…
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Repaying lump sum when remortgaging with existing lender
Please pardon my ignorance, this is my first mortgage. I am currently a few months into a 25yr Nationwide mortgage on a 2yr fixed rate (repayment mortgage). I am paying the standard monthly repayment and putting as much spare cash as possible into an ISA and a Regular Saver, both of which are currently outperforming the…
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Advice please - mortgage rate is now 7.3%, is this very high?
I have posed this question before but without confirmations of what the new rate was going to be. Mum got a letter this morning to say that her new mortgage rate is going to be 7.3% from next month. She has around 24k left and 2 years ago done one of the 2 year special deals which has come to an end and from the figures…
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C & G Problem
Hi, I would like some advice on behalf of my parents in dealing with a problem with Cheltenham and Gloucester (C&G). My parents' mortgage payment for March unfortunately bounced and consequently they received a letter from Lloyds TSB stating they would be charged £35 for the unpaid direct debit. They also received a letter…
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Mortgage Adviser Trainee - Magazines?
Are there any Mortgage Magazines/Publications that I should be reading?
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mortgage trap - please help
i have just accepted an offer on my house of £187000 and wish to purchase a house for £165000. I have just got divorced and the house is mine in the settlement. i am currently not working and am downsizing and will reduce my £114000 mortgage to around £100000 on completion. the dss are helping with remortgage payments at…
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Fixed Rates
If you have a fixed rate mortgage, but are worried about what the rates are going to be at the end of it (ours is April 2008), is there a way to get out of the current fixed rate and refix it with the same company at the current rate? I know this sounds daft, but I'm just testing the water. We have a fixed rate mortgage…
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everything extra to do with FTB mortgages please?
Hi All. What fees/charges etc are involved in everything to do with a FTB mortgage? Some of them I've considered (with questions) are below. Have I missed any out? 1. The mortgage advisors fee (if not using fee free MA). This can be payable upfront, or payable once you take out a mortgage through them.But if the latter's…
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fixed rate deal changes
How quickly after a BOE rate rise will the fixed rate deals run out/change at the banks? (northern rock I guess in particular). Am I right in thinking you don't have the rate advertised until your mortgage application is actually approved?? To flesh it out we are looking at a longer term fixed rate (maybe 10yrs) but if…
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Sad !
I just want to write this to clear things up 1stly using a mortgage broker i have found this most unhelpful, i knew nothing about 2nd incomes and the % deducted by NR nor did i know about odd jobs to be declared until i came on here, which has opened my eyes. Any suggestions what i say to my broker ?? I mnot a bloody fraud…
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Sole or Joint mortgage???
My girlfriend earns £10.600 has excellent credit. I earn £10.000 have had a ccj (outstanding 3K) since Jan 04. (only found out this month) We want to borrow 55K We have a deposit of 10K Is there a lender that will lend the 55k just to my girlfriend? and Which highstreet lender is more likely to lend the 55k as a joint…
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Abbey Advice
my discounted deal at the abbey has finished I have asked for a new one, they will only give me 6.46% even though if i was a new customer they would give me 5.7% i have challenged them for the last few days but they won't budge!:confused: how do i get them to lower the rate or do i give up and re mortgage.
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How does the interest on a mortgage work?
Hi, Sorry to keep asking simple questions but this is something i dont understand. If we borrow say £230k at 4.99%, is that 4.99% of the whole balance over 30 years? (highly unlikely i think?) or is it 4.99% a year? Which seems like alot! I dont understand how its worked out and how we can work out what we will ultimately…
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Financial Advisor Girlfriend!! arrgghhh
I am so stressed at all this im biting my hands off !! Please some one clarify this for me so i can finally have a nice decent nights kip! So BASIC SALARY £19198 GUARENTEED BONUS OF £7280 Divide by 2 cos Northern rock only take into acciount 50% of bonuses £3640 Salary of 22838 Purchase price is 116.750 but have asked for…
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Commercial Mortgage Fees
I have just organised a £150 business loan with Nat West via first commercial loans. We have been offered a rate of 1.25% above base rate which we were very pleased with. However, the Broker fee was £1500 (1%) of the loan. Nat West are charging a 2% arrangement fee of £3000 plus other admin fees of £470 and the bank…
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What is a default?
Hi Can someone explain to me what a default is? I am ordering our credit reports from experian tomorrow, and i feel really nervous and worried for some reason! What is a default, i keep reading it on this site. The only thing we have is a few late payments on credit cards and things, how much is this going to affect our…
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Help!!
If i need some one to say im earning extra income to boost up my income for my mortgage application, but thisisnt exactly gospel, do they check withthe tax office when the employer ref is completed ?? HELP XX
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Re-mortgage - Credit File and Joint Name Query
Hi I am about to re-mortgage my house as my current offer is about to finish and have 2 questions that i am hoping someone will be able to answer 1) Is it easy enough to add my partner to the mortgage, we will be remortgaging with a different company so is it just a change of name on the deeds thats involved? Do i just…
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maturing endowment.
Hi, I have a 24yr endowment maturing on the 1st May. This endowment is assigned to the Coventry Building Society. Firstly, when should I expect to hear something from the endowment co.? Secondly, I have been overpaying the mortgage, there will only be about £200 debt outstanding after the May payment - will endowment funds…
