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Mortgages & endowments

Archives for December 2008

Parents splitting
Hello, My parents are currently going through a divorce. My Dad and I still live in the family home.(worth £105,000) He doesn't want to lose the family home and is looking for a little advice on what to do. Hes 66 and brings in currently just under 1000,with the main income coming from benefits. Hes currently looking to…
Halifax won't supply an up to date redemption statement
Hello all First time poster long time lurker! I'm in the pocess of switching my mortgage from Halifax to First Direct (managed to secure the BOE +0.49% deal). This was all agreed back in November, and FirstDirect (FD) applied to Halifax for a redemption figure for 2nd January when the early redemption charges will no…
Help with a couple of calculations
If we had a 21 year repayment mortgage of £75,000 at, say, 5%. How much capital would we still owe (approx) when we have 7 years left? If we had a 21 year mortgage of £75,000 at, say 5%, and £50,000 is covered by an on target endowment so interest only so repayment only needs to be £25,000. How much capital would we still…
Rate reduction on a fixed rate mortgage?!
I have a 2 year fixed rate mortgage with Halifax, ending April 2010, and I am considering asking them to help me by reducing the rate I pay to avoid any future problems with my being able to meet the monthly charges. Any one done something similar or have any advice on this matter?
Changing mortgage product advise please
My 1.4% below base rate mortgage is coming to an end and i have today been offered a couple of new products. Because of the current climate i am unsure as to which would be better. I apologise if this is somewhere else, please point me in that direction if the same question is discussed. Thanks. The products are a tracker…
Any 85% LTV Buy To Let Mortgage deals out there?
Does anyone know of any Buy To Let mortgage deals around that a deposit of 15% or less? I have been looking around and contacted a few brokers but still awaiting some to get back to me due to holiday season. Would be grateful for any leads that anyone has.
The Leeds building society have put rates up!
I've seen it all now. In a market of falling rates the leeds have decided to put their rates UP with effect from 2nd Jan. I'm speechless. Hope I complete before Feb so I can be on the old rate.
Should i cash in my endowment
Hi All, Kind of new to this and have a new years resolution to get my finances in order so help would be appreciated. My mortgage is in a poor situation due to poor advice by the same financial advisor. A mortgage for £35k was arranged with and endowment that currently has a shortfall, when additional money was raised to…
Mortgage quandary - advice needed - help!
Hello all I need some advice. I have a 2-year fixed rate deal at 5.25% with First Direct - due to end June 2010. It is £110,000 on a property I think is worth about £250,000, though it's hard to tell with house prices dropping all the time. The problem is that although I am currently on a salary of just over £30,000, over…
HELP! What is the definition of a defaulted mortgage payment?
Hi, Sorry if this is really obvious, I have tried to Google it and search this site for it before posting here. What is the definition of a defaulted mortgage payment? I am going to be 1 day late in paying my mortgage basically because I need to pay in some money to my mortgage account today but the stupid bank was closed.…
When to leave SVR for fixed rate?
Hi We bought our place 2 years ago for 150k with 15% deposit. Our fixed rate comes to an end in Jan with Abbey so we will go onto their SVR at 4.94% (almost identical to our fixed rate). What I am worried about is that house prices will go down and when interest rates start to rise (as they surely will at some point) we…
Fixed Mortgage to Tracker...
I have a mortgage with the Halifax and in Feb 2007 got most of it on a five year fixed at 5.59%, though I also have a small part on a Tracker...rate plus 1.39%. I must admit to feeling quite good about it for most of the time I've had it until the rates started tumbling down. Now it doesn't look so good. Obviously there…
paying an endowment up
would it be worth paying an endowment up now,i have seven years to pay at 37 pounds a month surrender value is about 11k 9375 sum assured ? at work so maybe a little out have a repayment mortgage now 21k to pay 13 years to go on this endowment which was with the house was for 26k surrender value 4995 start date 22/11/96…
our mortgage has been on variable up until now...
but the deal will need to be renewed by June. i think rates will come down further and then i wonder whether we should fix . what are your thoughts on fixing against variable and we may rent out our house for a bit too. also what are the differences in rates if you are self employed or employed. it looks like most variable…
where can i check a list of mortgage rates
depending on how much we put down...? thanks in advance.
What is my best option?Urgent help please
Hi, Our mortgage is up at the end of February 2009.We are on a 2 year fixed rate interest only with the Halifax at 4.99% and then it switchs to SVR of 7.25%.Our house is worth 138000 and with savings etc... our mortgage now will be for 103000.What is my best option?Stay interest only and overpay?Go to a full…
Northern Rock Together Mortgage in breach of "duty of care"?
I fell on this interesting article (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3885595/Watchdog-warns-banks-to-treat-customers-fairly.html) which stipulates that Northern Rock Together Mortgage might be in breach of the bank "duty of care". Here is an excerpt of the relevant article:
Buying Ex out of Mortgage
Hi all, My boyfriend and I bought a house back in April but unfortunately things haven't been working out too well and I'm in the process of building up the courage to ask him to leave. Basically, we got a 100% mortgage for £83,000 and as my income (especially given the current economical environment) isn't enough for me…
Short term credit on mortgage?
We need to raise £4000 quickly for an unavoidable expense. We have a Nationwide tracker (mortgage 50% value of house) with the option to raise new finance. Having seen our repayments drop by £175 per month, and with other incomes due to increase, it should be possible to make enough overpayments. Are there any implications…
Is it possible to get a mortgage with earnings of £24k & little depposit?
We currently live in a council house paying rent of £240/month, & would really like to be able to buy a larger house. We are now living in a 2 bedroom house with a 14 year old & a 20 month old. We have one income of 24 k but also get 5 k in child tax credit. We know we could easily afford £500/month on a mortgage but we…

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