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Recently Self-employed Re-mortgage. Good Idea?
I currently have a mortgage with a high street lender, which is at standard variable rate, following a low fixed-rate start. I was made redundant about two years ago and became self-employed six months ago. I want to know if I can get a better deal than I currently have - I'm not planning to move or borrow more money.…
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House valued less than expected
I applied to re-mortgage my house 2 weeks ago and guessed my house would be worth around £120,000 when applying, We were given a fixed rate of 6.39% for 2 years based on the £120,000 I guesstimated. My house was valued at £110,000 today and i was just wondering how big a difference this will have? I've never done this…
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Royal Bank Of Scotland Current Account Mortgage
Hi,Hope someone can help us, we changed our mortgage approx 4 years ago to a current account mortgage with the RBS on advice from a member of there staff who they have now sacked,a couple of months ago they asked us to come in and talk to there mortgage advisor as they were no longer doing this type of mortgage anymore, we…
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Equit Genie - A promise to pay off your mortgage fast????
Hi All, I wonder if anyone ever used Equity Genie? Its a software tool to help work out a means to accelerate paying off your mortgage in a 1/3 of the time. Sounds like a dream, but the claims are also wild. However, the written details about it sounds pretty legitamate, but they charge over £900 for the software!!!! Makes…
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Mortgage Redemption Fees
Hi all, Hope someone can help me. I am selling my house and have to pay an early redemption fee (which I expected) but also have to pay interest on top, is that normal? My mortgage is £127,000 and the redemption fee is £7,600 plus interest of £4,000. Also, I am not buying another house do I have to pay any tax on what…
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6 month reservation
I know most lender will reserve a mortgage for 3 months, but I know there are a few who will reserve for 6 months. Can anyone give me a quick list of who these are as I will be able to start looking at these on 1st November (I have a fixed rate till end of April 2008).
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Need to raise funds
Hi all, i'm new here so please bear with me. I bought my house approx ten years ago with my girlfriend, our mortgage is £46,000, at the moment the house is worth about £150-£165,000, my question is, what is the best way to release the equity in the property? re-mortgage or secured loan? we need to do quite a bit of work to…
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Should we offset?
After much deliberation, we have decided to switch our mortgage from Abbey to Barclays as they offer the offset that we require. We have a 36k mortgage left to run for 10 yrs and have 44k savings. We were told by Abbey that if we offset all the the 36k savings against the 36k mortgage then it is cleared. We don't actually…
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need to find new morgage but have default
Hi I really need to find a new morgage deal. Im currently paying 8.85% interest as my fix rate ended and I was too stupid to sort it out. Im currently with GMAC. I have default payment on a credit card and have been turned down by the Halifax for a morgage yesterday.
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What An Idiot I Am
Just reading through my mortgage papers and would have paid our house in 2010 only took out a remortgage to clear off our debts as we felt we were being snowed in. paid them off and didn't realise that our credit reference for 6 years is crap! looking back now should have paid weekly sums off them but as you all know the…
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Current Best Sort of Mortgage
Simple question really, but trickier answer. With the uncertainty about Interest Rates re the Global Credit Crunch, are Fixed/Capped better value than Variable for the next few (upto 5) years? Or are Interest Rates expected to fall making Variable a better option?
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can I borrow against new extension?
Hi guys I'm looking to build an extension on my hourse at some point but am not sure if we'll be able to borrow enough. repayment affordability isn't an issue, it's just that we've been told that we can only borrow up to 95% of the value of the house (we're already close to that). Does anyone know if lenders will lend…
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should we go for intrest free for a while
hi, we are thinking of getting intrest free for a while because two sons at university plus a couple of loans outstanding and a new kicten to pay for. Our morgage is £93000 and house is worth £300 000 including endowment of £31000 which will only pay £26000. which ends in 2010. About 18 years left on morgage. We have never…
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Mortgage Type?
Hi I have just completed on my property with Northern Rock my mortgage lender. I am looking to live in the property but sub let a couple of rooms, do i have to notify NR of this? if so what penalties i am likely to receive? Thanks
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Sell Phoenix(SA) Endowments ?
Looking for some advice please. I have posted about these endowments some time ago and now have offers for buying the policies. Both are with Phoenix, ex -Sun Alliance policies. Guaranteed sum assured £17,622 Declared bonuses £8,888 Bonus added last year £26.48 Current Surrender value £22,279 Monthly payment £67.86…
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Mortgage and Secured Loan Question
If my property is worth £250k, with outstanding mortgage of £195k, I have £55k of equity, so will easily be able to remortgage in a good deal. If I was to have a £50k secured loan, effectively only £5k would be 'free'. When remortgaging then, would a lender see me as having on £5k deposit, so would need a 100% mortgage, or…
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Endowment with Scottish Provident
Hi all, I'm new to this site and can't believe how good it is. Has anybody had much success with claiming for wrongful selling from Scottish Provident. I am told by a work colleague that there is a cut off date for endowments. Mine was sold to me in September 1988. I was going to go through one of the dreaded claim…
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Early Repayment fee
Hi, I am aware that I need to pay if it I end the mortgage early and that is fine.. However? I am currently selling my house, but this will be about 7 months before I can avoid the EPF. I will be renting instead of buyinga new house and the mortgage would therefore be settled outright. Can anyone advise if it is possible…
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Advise - or directions......
Looking to get a house in July/August next year. Renting currently (£500 p month), and saving a minimum of £200 per month. Girlfriend qualifies as a Mental Health Nurse in August, if lucky will get a job of around £17+k, although not before the date we need the mortgage for. I am on around £15k, topped up with part time…
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How much can we borrow?
Anyone know of any good mortgage affordablilty calulators that tell us how much we could borrow? Or maybe someone on here could help?? OH 18300 Me 11500 Debts: 26500 but 23.5 of that will go when our house gets sold. Thanks
