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Writing off a secured loan????????
I have secured loan for £35,000 i am struggling to pay, i have arrears and they charge me over £50 a month as i cant pay the arears off yet. I read that if your loan was made before April 2007 it may not be worth the paper its written on. Mine was June 2007 but i feel i was pushed into it and made to believe that it would…
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Mortgage choices - Tapping the knowledge
Ello, Long time lurker first time poster. Felt like I had a good handle on all things financial until I came to this forum – I’d like to tap some of the knowledge out there. Our mortgage is coming to an end in March next year and after doing some research thought I would pose my thoughts to see if I haven`t overlooked some…
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Advice please - new fixed rate deal or stay on SVR?
Our 5.14% deal ends at end Feb 09 and SVR with Birmingham Midshires is currently 5.44%, with a 1.5% cut to come from the recent cut, and a 0.25% cut to come from the latest 1% BoE cut. We have been offered a 4.99% 3-yr fix with a £995 arrangement fee and £995 broker fee. I am not keen on paying £2k to fix when the rate…
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Mortgage Express Changing my deal
Hi have been with ME for 2 years now and my fixed rate of 5.25% is coming to an end in December. I called 3 months ago to see what it would be going up to and this was before the two big cuts in the base of england rate. Looked like I was going to pay about £220 extra per month. Anyway after the massive cuts I phoned back…
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Two secured loans and remortgaging
Hello I have a mortgage of with a balance of £126K (the big one) and a few years back we took out extra borrowing and this has a balance of £14k (the small one). House is valued at a realistic £220000 The big ones deal (4.9% for 5yrs) is up in May 2009 and the small one (4.7% for 5yrs) is up in Dec 2010. I was looking to…
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URGENT! Barclays tracker mortgage holders! You Have to REQUEST drop in mortgage!
:mad: We have a Barclays tracher mortgage that follows the BofE rate. We have been trying to get through for two days to find out how much our mortgage payments would drop to. Eventually got through to be told "no change"...why? Because we hadn't formally rung up to request that our rate drop!!!!!! :mad: Am I wrong in…
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Advice on endowment please - to surrender or not?
Any advice on the following endowment plan would be welcomed. I suspect it is seriously underperforming. Provider/Plan: Standard Life/Minimum Cost Plan 25 year policy Sum assured: £13,500 Current surrender value: £4,541.30 Minimum payable at maturity: £6,598.50 Monthly premium: £18.42 Maturity Date: Nov. 2015 Growth…
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Buy to Let Mortgage?
Hello, looking for a bit of advice on mortgages as a relatively new landlord. We own a property which we currently let out. Before letting it out we lived in the property for 6 years and now let it out because we were unable to sell it at the beginning of the year. Our current mortage deal on this propery ends in March of…
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Help with my Norwich Union WP Endowment Policy
Maybe dunstonh or edinvestor could help me understand this or advise on how robust this policy is for me please. Conventional NULAP WP policy. Guaranteed sum assured 14,104 Declared bonuses so far 8,494 monthly premium 52.86 Maturity date june 2013,25yr policy Originally should cover 41k but the latest forecast is…
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Overpay or save for deposit on new home?
I am in a bit of a quandary. I have a tracker mortgage of about £250000 with Natwest and slipping rapidly towards negative equity. Not a problem in itself. We are looking at moving to a larger/more expensive property in 2-3 years and will have to increase the mortgage considerably. I have considerable amounts of disposable…
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Consent to let query HSBC?
I asked HSBC what would happen if I let my property out as I might end up doing locums anywhere in UK come next year as I am the end of my training post in hospital + would probably like to buy a smaller house wherever I move, they said they will forward my query to tenancy team and come back to me. They will give consent…
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First Direct Offset mortgage usage... help required!
I've just opened an offset tracker with FD, linked to my current account and savings account. Once I move my money out of my ISAs and into my FD savings, I'll be using it to (what I believe is) it's best. However, is there any value in changing my direct debit dates? I am paid on the 27th of each month, and my 'interest…
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Repay Mortgage With Endowmentes Now
Hello Newby Here I Have 2 Endowments One Sarted In 91 With Surender Value Of10500 And Another Wich Was With The Mortgage Started In 96 Surender Value 4950,mortgage Changed 5 Years Ago To Repayment Now With 21k Left To Pay Over 13 More Years With A 175 Early Payment Penalty,do I Surrender Or Sell Both Endowments And Put Up…
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salary ratio vs ltv???
hiya, having been out of the mortgage market for the past 18 months or so I've sort of lost touch. my current deal expires in july 09 so i'm starting to look into things. i hear a lot of "loan to value" whereas before the amount of mortgage i could get was 3-4 x my wage. i've got no idea how much my fflat is worth…
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Got tracker mortgage, repayments not reducing as much as expected?
I've got a Woolwich repayment tracker that's 0.74% above base rate, no collar, just under £190k outstanding balance. So in recent months, our interest rate has gone from 5.24% to 2.74%. My simplistic workings show the monthly interest part of the payment should drop from about £830/month to £430/month - a saving of just…
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Tracker rip-off!!!
I was feeling quite pleased with myself - I have a tracker mortgage with Halifax B.S. and received a letter with my new rate at 3.59%. :j . Then, 10 days later I get a letter saying my tracker ends end Dec and new variable rate is 5% :( . So I contact Halifax - please can I continue with tracker as is, no change, rate at…
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Offered 5.24% 7 Year Fixed Rate
I am currently on SVR an since the Bank of England rate cut will receive 2.5% cut on SVR in January. However, despite this cut I have been looking at getting another fixed rate as I feel when things start picking up it will be difficult getting a good competative fixed rate deal. I have been offered a 7year 5.24% fixed…
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Buying out of mortgage
Hello. If anyone could help/lend advice it would be much appreciated. Situation: my girlfriend and I bought a house a few months ago, valued at £180K. Using equity from previous property (£27K) she put into new property so owns £103,500, and I own the remainder of £76,500. Unfortunately our relationship is no more. Her…
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Change from fixed rate or bend over and take it?
Hi Writing this will probably be enough for me to answer my questions myself, but always welcome other opinions.. I have a mortgage with RBS which is in 2 parts (due to historical time of move, increasing mortgage etc). Part 1 is just under 85k and is on SVR (currently 4.44%). It therefore has no tie-ins. Part 2 is just…
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New 3.99% fixed rate offer
I just came across this announcement http://news.hotproperty.co.uk/Lender_launches_new_mortgage_rates_18926679.html I know it's only for 60% LTV but still shows the rates are becoming more competitive. :D
