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BTL current house, release equity and buy new house?
I'm not clued up on buy to lets but can you tell me if this is feasible? I own a house, which has recently been valued at £160-£170k. I have a £68k mortgage on it. 2 houses down (exactly same house) has just been put up for rent at £795 pcm. 4 bedroom detatched 3 storey, garage, and would rent mine furnished so imagine…
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Mortgage options for a freelancer
Hi, I'm looking at a mortgage for the first time, i'm 29 and lived with my partner for 7 years until recently. Although I paid half of everything the mortgage was in her name so this is the first time i've had a mortgage myself. I'm a freelance software developer with a limited company, i've been trading since March this…
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First time mortgage...
I'll keep this as short as I can! About 5 years ago I moved from Cumbria where I grew up, to Leeds for a job. Between then and now I lived at 5 or 6 different addresses, all rented. I ran up a large amount of debt on various credit cards and loans which, due to an inheritance, I managed to pay off about 2 years ago. These…
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Is it too late mis sold endowment, HELP PLEASE
We took out our endowment policy in 1987 to cover our mortgage of 21,000 I have just received a letter to say it is to mature in December this year and will make 18,785. I complained to the firm who sold it in May 2006 who wrote back saying they are not responsible as this took place before April 1988 when financial…
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interest only mortgages
does anyone here have interest only mortgages, which you only pay back the interest payments? if so how long is it over? ta
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Mortgage and divorce settlement?
Has anybody gone through or knows of the process of house selling post divorce? A female friend of mine is looking for some advice. Her and her husband took out a joint mortgage on a property about seven years ago. After 4 years they split, and she stayed in the house with the four children and continued to pay the…
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Fixed Rate Mortgages - Potentially Stupid Questions (Scenario Spreadsheet Available?)
I hope someone may be able to assist as I am having a stupid moment. I have just signed up for a 5 year fixed rate mortgage (5.63%) on a repayment basis - I understand that by the end of the mortgage term, all that I have borrowed will be paid off. My understanding is that the interest is calculated daily, and if you make…
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Mortgage Rates Coming Down Next Year (error fixing rate now?)
A number of newspapers have been reporting that interest rates are likely to fall early next year, by as much as .75% (3 drops predicted). See: http://business.timesonline.co.uk/tol/business/economics/article2872853.ece As I only signed up to a five year fix repayment at 5.63% earlier this week (7.24% SVR) on over…
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To consolidate or not??
Hello all, some good stuff here - am usually lurking on DFW! Would appreciate any advice on whether to consolidate loans into a mortgage, my partner and I are First Time Buyers with good credit ratings and decent incomes We are looking to buy a house for £120,000 - we have about £8000 deposit/fees but around £22,000 worth…
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Surrender / sale of endowment
Is it usual for buyer to request original policy before sale is completed? What assurances are in place to prevent policy dissapearing and no money being received by seller? even if a contract has been signed by both parties. Would it be better to have a solicitor acting as intermediary to recieve sale proceeds and then…
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Halifax remortgage - Abbey saga
Hi all, Have recently remortgage with Halifax and a very smooth process with them. Today finally resolved a problem which solely relates to Abbey and wondering if I have a valid complaint. My settlement figure with Abbey was £91k and I spoke to them a month ago advising to place me on the standard variable rate. I spoke to…
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Mortgage Question
I've been remortgaging my house recently and have signed up for a 5 year deal from the Westbromwich Building Society. We are possibly thinking of moving house within this period, but was wondering if we would be tied into only getting mortgages from the Westbromwich, or could we look at other companies for the amount above…
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Help me remortgage...
Hi, I need to remortgage our house. Looking to get a £250,000 against house value of £200,000, this will clear first and second mortgage and most of our debts. Yes it is 125%. Where to go, don't want to pay a fee either. Have the income to support the £250k. Anyone out there done this before? Thanks
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Abbey National/ Chase de Vere/ AWD/ The wrong person has info about me!
In the Eighties I took out a series of mortgages with Abbey National against Standard Life Endowments (both were then mutuals!) On advice of maturity Standard life tell me that a firm I never heard of AWD are or were my financial adviser. On querying they tell me they suspect that when I approached Abbey National although…
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Finance Showing (not arrears) - would this adversely affect mortgage application?
Posted this to the loans forum, but might be more appropriate here, apologies for the dual / amended post - Quick Question if I may, hope this is in the right forum. A friend of mine took some finance out for a computer system they bought over a year ago - they were accepted for the finance and all went through - the rate…
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Barclays Offset -How Safe now?
I raised a query on another Thread which has left me with a dilemma. If I have offset all my savings against my mortgage (36k) I wondered if I would be covered if this Bank went down the Northern Rock route as everyone seems to be scaremongering this at the moment. Someone has stated that only the net amount is covered and…
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Co-Ownership
I've tried to do a search on both the main Site and the forums for links on Co-Ownership. Can anyone point me in the right direction? Please feel free to list the advantages and disadvantages of co-ownership!! Thanks in advance for your hlep and advice!
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Change of Job- Notify Mortage Lender / Life Insurance?
Just a quick question.... I assume I need to notify Mortage Lender & Life Insurance Company that I have changed job? It also includes a slight increase of income... Thanks for all your help
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Mortgage Review Fee
I am in the process a arranging a new deal with my current lender (A&L) and they are charging me a £250 Mortgage Review Fee, which can be paid upfront or added to the mortgage. £250! :eek: Do other lenders charge that much?
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Got my FSCS Compensation letter today
After much going back and forth I've finally received my FSCS Compensation letter today. An absolute lifeline as the company that advised me is in receivership. Just wanted to say a big thanks to everyone who has answered my questions along the way (some months ago now) especially to dunstonh who has put up with and…
