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Converting a residential mortgage to a Buy to Let
As selling is becoming more and more difficult, my mate is thinking of moving out of his home and renting it out while he himself rents a smaller property to live in. He will need to convert his current residential mortgage to a BTL which is on a SVR with NR. The numbers seem to add up (in his area) and he gets to keep the…
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Help
Hi all Im a first timer so be gentle. I have a problem, i bought my house with my partner last october after selling my own property i had 15'000 of my own cash to put in as a deposit and done this without question. We are now going through a break up and i want out of the house, mortgage and life. How do i go about…
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remortgage advice pls?!
HI, I was wondering first of all if anyone can recommend an IFA/Mortgage broker in the north devon area. Secondly I;m after a little bit of general advice..... I am looking to remortgage and add to build a much needed extention (2 kids sharing a bedroom!!). MY figures are roughly - £73k current mortgage (SVR) 18yr term (I…
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The dreaded R word
Hi all, After a meeting with my boss on Wednesday i have been informed that there is a relatively high chance i am going to be mede redundant. I find out for definate Monday week. Other than being absolutely beside myself at the fact i could possibly no longer be doing the job i love with the people i love but my main…
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Banks delaying on the interest drops
Hi I am with a certain mortgage company on a standard variable rate paying 7% even though rate is now 3%. That's 233% profit for the good old bank (thieves & robbers). They seem to be very very slow at passing on the reduction for example the rate reduced by 0.5% from 5% to 4.5% at the start of October. My bank stated that…
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Can someone just explain this bit for me
I'm a FTB (or will be)and have been looking into buying a house (don't worry not just yet) Have been doing lots of research etc have been visiting EA and doing a couple of veiwings (on repo's before people have a go, as not to get sellers hopes up) just so i can get a feel of how EA work (some really do make me giggle) I…
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Another ERC Query .....
I hope someone can give me some sound advice - me and my husband took out a self cert remortgage about 20 months ago - we are now seperating and i need to get a new mortgage, i have asked for a redemption statement and i have to pay a redemption fee of £125 and and erc of £5,800. I don't remember them saying that the erc…
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Dodgy redemption fees
Okay im moving house or trying to and i know im closing my mortgage early but this is my problem on the 20th nov i requested a redemption statement it quoted Balance 82287.92 Interest till 20th nov 4316.23 Early repayment charge 3352.50 Fee 195.00 Sub Total 93151.68 Minus repayments made this year 5528.30 = total 87715.55…
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Appeal to Fellow Mortgage Brokers
This is my first post ( & probably last)here but I have been reading other posts for some time. Can I urge fellow brokers to stop posting 'advice' on this site whilst there remains the culture of denigrating brokers for their expertise & experience ? This tone comes from the top with suggestions that posters use a…
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Auction mortgages
Does anyone have any links to or info on auction mortgage rates please?
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Tied by her Debt
Here's the situation. My girlfriend still has a mortgage with her ex. Her ex still lives in the property. She still pays her half of the mortgage but doesn't live there. She has to pay rent elsewhere at the moment. She intends to decide in a year what they will do with it. Whether he will buy her out. What I think could…
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Buy to let mortgage
Guys, can anyone help please, I'm looking to buy a house to then rent out. I have found the house and then approached a couple of different Mortgage advisers to find a mortgage, but they are giving contradicting advise.:confused: Mortgage Adviser 1, advised me to raise the 75% ( i have the 25% deposit already) against the…
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How can I move house?
Ideas please. My little family is fast outgrowing our 3 bed terrace (~115k)and we want to move to a semi on the same estate (~145k). A few months back this was perfectly possible, I had an agreement in principle from our current lender to lend upto £135k and upto 90% LTV. Since then the world has gone mad and it seems that…
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Returning my policy docs - why?
I've just had a letter from my mortgage company (Birmingham Midhsires), telling me that they are 'releasing' my policy documents. The policy has six years still to run. Why would they do this?
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Credit check for new mortgage
Out of curiosity I did a credit check on myself through experian. I came out with a good rating (just creeped in :) but at the start of the year missed a number of credit card payments (mostly through just being useless). Ive passed the initial credit score with Halifax, but will the missed credit card payments at the…
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117% Ltv
I had a call from Halifax last night to arrange going onto one of their new deals and was going to say no and that I wanted to go onto the SVR for a while as my mortgage is split into 2 parts and I wanted to join them together (in 6 months). I thought that this would be the best time to do it as the rates are so low and…
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Virgin Dropping Rates as RBS are ?
I heard that RBS agreed to the rate drop of 1.5% is that true and if so does that mean Virgin will have to do the same? Anybody know..
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Barclays/Woolwich 3.99% fixed?
Was paying in a cheque this lunchtime and saw a big handwritten note on all the tellers' windows saying something like "Mortgage - new fixed rate - 3.99% - ask for details". After I'd paid the cheque she said that today was 'mortgage day' and when was the last time I'd had a review.. As I value my lunchtime I made my…
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Am I missing something with my maths ?
I have been playing with a mortgage calculator on the repayment section of our mortgage. We owe £36,300 over a ten year period, 3.38% HSBC lifetime tracker, = £356.92 per month If I take one hundred pounds English pounds and paid it off my mortgage, we owe £36200.00 over a ten year period, 3.38% HSBC lifetime tracker, =…
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Don't understand............?
Dear Forum, After speaking to my lender (RBS) I am still confused about the recent rate drops so i'm hoping someone here might enlighten me. Firstly there are 2 elements to my mortgage. The most recent figures I have are for october. Loan account 1......capital & interest. outstanding amount £19,859......... 6 years & 9…
