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Fixed Rate Mortgage Advice
Hi all! I've been a member of the MSE email for a while, but this is my first forum post. So i hope someone can help! In December last year i bought my first house... At the top of the market....:mad: At the time, when nobody knew what interest rates were going to do, i wanted a fixed rate mortgage so i knew what my…
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!!!! Info for First Direct SVR customers !!!
I have just called FD to enquire what their approach is on the latest 1% drop , the reply ; " We are dropping the full 1% on our SVR from January 2nd 2009 sir, making a SVR of 3.69% " Ok its a month delay!! but I believe this is one of the , if not the best current SVR rates in the UK !!! Hope that info helps some ;)
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Mortgage overpay or save?
With the recent cuts, my tracker mortgage is thankfully getting cheaper, up to now I’ve been increasing overpayments so that my monthly payments remain the same. This is to reduce the term of the repayment portion and cut back on some of the capital on the interest only portion. However with such a big difference in saving…
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Barclays Bank Base rate - Change of Definition
Hi, I've noticed that the description of the BBBR has changed - http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=popup1group&value=15396 Overnight, they've introduced the word "typically", and said that it's not guaranteed to follow the BoE. Are they just being cautious? To what rate do you think…
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Pondering... and need a steer please?
Hi All I need a bit of advice. I took a re-start mortgage with HSBC 18 months ago, fixed at 5.79% for 3 years. This was originally interest only, and I have converted part of it to repayment and either over pay by 20% on the rest or add this to savings depending what suits at the time. This arrangement suited circumstances…
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Intelligent Finance Will Rates ever Drop?
Hi All, I am with Intelligent Finance on a tracker rate mortgage. 'IF' still have not passed on the 2% from early November, although they say they will in Jan/Feb 09. Can anyone tell me if I have a mortgage linked to the base rate how can they not change it immediately if the base rate changes? I mean when the base rate…
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First Plus
I have had a secured loan with First Plus since 2001. The interest rates were ok to start with. But during the last 4 years have risen steadily. I am now being charged a massive 12%. There has been no reductions following the recent lowering of the base rate. Is there anyone who can advise me of what steps to take to find…
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Abbey tracker - latest BofE rate reduction may not be such good news
What is it they say, if it sounds too good to be true, it probably is. Prompted by press reports that banks "may" reduce their tracker rates, when I thought they had no choice, I checked my mortgage documents (Abbey Flexible Plus 2003 0.5% above base rate tracker). Lo and behold there is small print which seems to say…
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What to do
My discounted rate interest only mortgage ends 31.12.08. I have two endowments due to mature 1. £17000 (well that was orig. target) Sept. 2010 2. £18000 (again orig. target) August 2011 Currently my outstanding balance on mortgage is £35000 but intend to pay £10000 off at end of December (penalty if I do so before).…
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Remorgage if house in negative equity
Hi I bought a house coming up to two yrs ago and put down a 5% deposit. The loan was £167K plus 3K higher leading fee from Abbey. I am now in the process of remorgaging, the house I think will be worth 160K on the open market and I am now concerned about being able to broker a descent deal. I have got about 20K in savings…
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Equity release scheme- help!
Does anyone know about how to get out of an equity release scheme or is there an online calculator anywhere determining how much may be owing over a certain number of years? My grandfather recently passed away leaving my gran horrified to find out how their orginal 60K equity release has increased over the past 5 years.…
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Fixed Rate Mortgage - Shall I Change Now?
I'm on a Abbey fixed rate 2 year repayment mortgage. The rate is 5.14% Becuase of the rates keep dropping, should I pay the Early Repayment charge and move it now. The repayment charge is £1929.45 & admin fee of £225. The tie in period ends on 02/07/09. Would I save this much money in the 7 months left? Thanks.
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Anomoly when you remortgage
Has anyone met this before? When I remortgaged, this was arranged by a solicitor chosen by the new lender. Things started to go wrong when the solicitor made a mistake in the initial transfer and were very slow to sort this out. When I complained about the service I received from the solicitors, the Legal Complaints…
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Do Not Do A Vendor Gifted Deposit With Rbs
Just a bit of advice to other home buyers. me and my wife are FTB and have banked with RBS for years. we ve been saving in a RBS First Home Starter account with RBS for 2 years (crap interest rate but get 1k towards mort if 10k in for 6months). found out 2 weeks after getting an AIP that we wouldnt be able to get a…
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Lloyds TSB collar/floor?
I am in the process of taking out a new tracker with Lloyds TSB. It is a 0.99% above BOE base rate. I have had the offer for a while and it expires on the 19th. I have had a look at the paperwork and can't see any mention of a collar/floor. Does anyone know if they have one? Thanks
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Nationwide pass on the full 1% for trackers (i.e No Collar)
Excellent news http://www.teletext.co.uk/news/national/01a3197ed7cc2b78f2f490279f829ba7/Nationwide+passes+on+rate+cut.aspx
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anyone recomend a sub prime mortgage company???
title says it all really cheers in advance
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Come on Kensington
Have any Kensington customers been informed of any potential rate cuts? Libor has dropped nearly 3% in the last quarter and this so called mortgage company is still not passing on the benefits to its customers. Why ow why did I sign on that dotted line!!
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Overpay or reduce term???
I am after some advice. I am on a SVR at the moment with nationwide. I am probably going to move to the tracker. I currently over pay my mortgage by around £300 a month. Which I like doing as i am in control. I suppose my real question is does it make any difference with the term. I currently have 20 years left but…
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Nottingham Building Society FVR mortgages
I am pleased to say that the NBS have finally decided to pass on part of the BOE interest rate cuts to Flexible Variable Rate Mortgage holders. About time too!
