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new mortgage question....
a friend of mine is buying a house. they are looking at renting out where they are at the moment. they now want to buy another place. she has a fixed mortgage on the first property and this is quite high but it would pay for itself if it was rented out - though i think mortgage lenders tend to add another 1% if it is…
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Any opinions on interest rates??
Hi Im interested in hearing peoples opinions on what the interest rates will do in the next few years! If people start buying again at these better rates then in 2 years time when they come of the fixed deal and rates have shot up again. Arnt we going to be in trouble again??? Im not sure how it all works but it was just a…
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Remortgaging????? HELP
Hi there, Me and my partner have been living together in an apartment for 3 years with a fixed rate mortgage with Barclays. This fixed rate is due to end in may and we are looking at our options to move house. Some points about are mortgage are: It was a first time buyers mortgage but in may goes on to a tracker mortgage…
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Chances of a mortgage
Hi Folks, I'm after a few pointers as I'm mulling over getting a house (yes i know prices will drop more ...). Given the following what are the chances of getting a mortgage? Value of Mortgage reqd : £125 K Savings : £8 K Parent's loan (0% for 10 years +) : £30 K Number of people requesting a Mortgage : 1 : Salary : £32 K+…
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Bank of Scotland - Renewal Time What to do?
hi My discounted traker is due to come to an end this month. Looking at the state of the mortgage market I really have two choices. 1. Go onto the SVR at a rather high 4.84%. Despite the recent 0.5% reduction Bank of Scotland has not passed across any reductions to their SVR. I will be having words with them. 2. For…
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Low Deposit help
Hello all, My girlfriend and I have £4600 ready to put down on a house. We have found a house we love but its worth £110000. Are they any low deposit mortgages that I can apply for that will accept our saved amount as a deposit. Any advice would be hugely appreciated. Thanks
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Are tracker deals good in this current economical climate?
I'm wondering whether should we go for tracker deals or not. The cheapest I have seen for 40% deposit is 3.29% A&L. 3.39% First Direct and for 25% deposit is 3.39% from First Direct That means 1.75% over BOE base rate. That's horrible. If interest rate goes up then these rates will go up quickly. Couple of months ago I saw…
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Calculate amount left on Mortgage
Is there a tool or a calculator of some sort I can use you calculate what the outstanding amount on my mortgage will be in x number of years? What I want to do is calculate how much I will have left in say 3 or 5 years based on a particular rate of interest and amount borrowed. The sort of illustration that comes with the…
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Mortgage Interest ?
Hi, My interest only mortgage with the Chelsea Building Society (£30,000) is currently calculated yearly. Is there a benefit in changing it to be calculated at a daily rate,considering i have to pay a sum of £75 for that privilege? I intend to pay a lump sum off in July when my current deal ends leaving me around £14,000…
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Interest only mortgages ?? clues please
Hello all, Just asking a general question. If you were a single person and wanted to buy a property but were not particularly interested in owning it outright,it seems to me that you could get an interest only offset mortage for a lengthy period (is the max up to age 75 ??)and then you would just have minimal outlay,have…
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Remortgage Question...
My OH and I think our fixed rate mortgage is up for renewal in June this year (I need to check the date on the paperwork) and I wondered if because the interest rates seem to be dropping if it would be worth us looking for a new deal earlier than June? I thought (but am not sure and by no means clued up on this) that there…
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chance of getting a mortgage
hello, i have a property which will sell for approx £150k (no mortgage). I have £40 k savings , so i have £190k. the house i want to purchase is £250k, leaving me with a shortfall of £60k. i am self employed with two years of books, earnng 24k a year. good credit rating too, i hav'nt been involved with mortages and house…
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Lifetime mortgage - repayment on death question
Hi, My Grandmother passed away a while ago and we're still trying to sort through her estate and apply for probate. She took out a lifetime mortgage on her home which is worth roughly £850,000 (it looks like one lot of £200,000 a few years ago and then another £200,000 a year ago). We weren't aware she'd done this. I was…
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Fixed Rate Mortgage
Currently looking around to remortgage in May. Just wondered if anyone had any recommendations of good fixed rate 2 year offers at the moment? We are currently being offered 4.98% to renew which works out cheaper than halifax (4.49%) cos of the fees.
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Help from Mum
My partner & I are currently saving for a deposit & hope to buy before we get married in summer 2010. My partner's mum said she would act as a guarantor. Is that more likely to help us secure a mortgage? Are there any lenders who specifically offer that type of mortgage? We should have 10% deposit to put down, but thought…
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Do I need to sell my flat to buy a house??
Hi I currently own a flat: Left on my mortgage is = £65,000 Mortgage payment = £330 per month (interest only) If I change to repayment approx £550 per month! Renting out for = £425 per month I want to buy a house which is £130,000. My wages are £30,000. Would I need to sell the flat to get the mortgage for the house or…
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1st time buyer-poor credit
We are currently renting, our landlord `has to sell a few of his properties` & wants us to have first chance to buy our home. We dont have a particularly brilliant credit rating & to complicate matters even more, our house isn`t the usual brick build but an ` Airey style prefab build` we tried 2 years ago 2 find a company…
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A bit of a pickle.
Hi All, I have sale agreed on a property. I had been shopping around for a mortgage and decided to go with the halifax. Survey is being carried out next week so its all moving along. I confirmed to the my halifax mortgage advisor i would go with them. I have not agreed which mortgage product I'm buying. This is were it…
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Urgent advice needed on NR mortgage please
My bf and his ex currently have a mortgage with Northern Rock on a property they rent out. They have been renting it out for over 3 years and never missed a single mortgage payment. They also have a large loan (mortgage 100k, loan 30k) running alongside the mortgage at the same rate. They are on a tracker mortgage which is…
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HELP My mortgage has been sold - what do I do now
Help! I have just been told that my mortgage has been sold to a finance company. I'm panicking and would like to know what happens now. Does this mean I have to sign a new mortgage deed in favour of the new finance company? Does it mean that I have to get a Solicitor to register the mortgage at the Land Registry? If I dont…
