-
Short term overpayments
I have just taken out a remortgage with the option of making overpayments of upto £500 per month. I am well aware of the huge savings I can make by overpaying but all of the posts I've read in various forums and articles relate to making consistent overpayments over the course of the mortgage term (in my case it would be…
-
credit report with equifax?
mine is back at 407 with a yellow warning due to 2 late payments on bank of scotland credit card in 0ct & dec last year both were bank errors not my fault and balance is now nil hubby's is back at 377 with a red danger circle saying very poor in the credit agreement section to do with 3 payments in oct 2004 we were having…
-
Complex Mortgage Question
Hi, My girlfriend and I are thinking about buying a house together in the next few months. We both have flats that we are going to sell. My girlfriend has 30k tied into her flat and when I sell mine I should have about 10k profit. We want to use her money for the deposit of the new house and the money from my flat to pay…
-
Cemap Exams, 1 or 3?
Hi there everyone, just writing for a little advice if possible i took cemap1 couple weeks ago but failed unit2. i've now passed cemap 2 and have planned to take cemap 3 next week. would it be better for me to take my resit for cemap1 unit2 first, or should i take cemap 3 first? does cemap 3 consist of the knowledge of…
-
The Truth about ISA Mortgages
If a person using an ISA to repay their Mortgage was to become Unemployed or off work due to Sickness or Accident they would NOT be entitled to Means Tested State Benefits if the value of the ISA was over £16,000. The reason for this is the DWP treat the ISA as Accessible Savings. The FSA being the Governments financial…
-
Interest rate Prediction!!
I know this question might be like asking someone to predict the lottery results, but here goes: What do you think the flow of interest rates is going to be like from now until 2 years time?? I’m keen on a couple of tracker mortgages and I’m estimating in the short term i.e. in the next 3-4 months we would have gone down…
-
offset mortgage
Can anyone advise. If I have an offset mortgage connected to current account, should I set it so any direct debits come out at the end of the month, would there be more balance to offset against the mortgage interest. And is there a best time for the mortgage to come out, or have I got this all wrong. Thanks
-
My Mortgage Offer
Been offered this: Value £155,000 Mortgage £147,250 over 25 years Lender 1: -Fix 6.44% for 2 years -Arrangement fee £1999* can be added to loan -Mortgage Indemnity Premium FREE -Valuation fee £305 upfront -You pay your own solicitors -Redemptions: 5% in fixed period, 10% per annum overpayments allowed without penalty…
-
How to identify Prime & Sub-Prime lenders?
How do you know if a lender is prime or sub prime? Is it just by the rate that they will offer or is it to do with something else?
-
mortgage help needed
my broker has applied to halifax for a mortgage but im scared we will be declined as bm our existing lender has declined us. we only require £78000 which is less than 75%ltv but i have a default on a personal loan although i have started a new payment arrangement with them. i am panicking has everyone else in the chain is…
-
Adding to mortgage to pay off debts and free up capital??
Havent posted before but have been an MSE covert for some months now - Martin should get a knighthood for materminding this website!! I have used the website advice for reducing costs in a number of areas, mobile phone, broadband, car insurance which have been a help however if I could ask for advice on the following…
-
Overpayment question
Hi all, I have a question about overpaying on a fixed rate mortgage. With some mortgages you are allowed to overpay by 10% annually with no penalties. Does anyone know if: Interest is calculated on a daily basis? If the payments are adjusted every month, for example if the monthly payments decrease if a lump sum of say…
-
Information to be provided by self-emp for remortgage
We are currently in the process of applying for a remortgage (5 year fixed). My husband is a self-employed barrister. (Most barristers are). We are applying for a regular mortgage, i.e. not a self cert. In addition to 3 months' business bank accounts (which we can provide no problem) we have been asked to provide: most…
-
help needed Northern Rock out.. first direct??
i want to remortgage from my current lender Northern Rock, i did see on here the offset mortgage from first direct fixed for 5 years at 4.99% which i applied for, i had reserved this deal but not paid the £299 booking fee as i was never asked for it. I was told by the advisor at the time that the deal had been reserved for…
-
totally being messed around now - Help!!!
This is a very long winded situation: i will try to give you the basics: I have applied for a mortgage with my partner. We both had new jobs and pay rises within our current job roles.... so could afford a mortgage. Mortgage Company gave us the green light and gave us agreement in principal. It comes to the final details…
-
mortgage payment protection
Can anybody tell me if when you switch to a new product with your mortgage company,is the mortgage protection insurance policy for the old product still valid or do you need to cancel and change to a new policy.Thanks.
-
Mortgages:over paying or reduce term?
Hi everyone! Does anyone know if you save more money by over paying (i.e. an extra £100 per month) or to reduce the term (i.e. 25yrs to say 20yrs)?
-
halifax tracker
Hi I was wondering if anyone knew whether the Halifax 5.99% tracker is a good deal? We have just been advised it by our broker. We are buying at 130k with 10% deposit, and have combined income of 50k with no dependents/no debt (apart from student loan which I don't have to start paying back for a year and then is a fixed…
-
selling endowment
hi all back in 1993 we took out an endowment with a company called Colonial Mutual, who have been bought out by Winterthur Life this is under achieving massively and i want to sell/surrender i have sought quotes from a few companies that buy policies but no body seems to be interested and i cannot get a quote could anyone…
-
How much can i borrow
OK my partner and I earn about 30-40k (can't be precise as I work for myself and it varies.) We have around 30k in savings. We're first time buyers BUT it's difficult to find property (of anything reasonable) for much less than 250-300k where we need to be located :eek: Is there any way we can get our hands on that kind of…
