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People's thoughts on this.....
Sorry to trouble you all but could do with a little advice Was married [now divorced], kept house, bought out ex-wife House was valued @ £245,000, no doubt worth a lot less now. Have 2 mortgages with nationwide 1st [from marriage, now in my name only] Interest only, fixed @ 4.79% for a further 2 yrs then bmr untill 2026,…
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Overpayment rules
If a mortgage says you can overpay by, say, 10% each year without penalty, is this 10% of the original balance, or 10% of the current balance?
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Doing the right thing?
This is my 1st time ever posting on this site so please bear with me! I am generally asking for advice and peoples opinions would be greatly appreciated My partner, two children and i have decided to rent our house out for twelve months and move back in with our parents to try and pay our debts off. our circumstances have…
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Have i made a mistake?
In september 2008 i took out a fixed mortgage of 6% over 2 years, with rates as low as they are at the moment do i try to get a better deal? Its going to cost me £3000 to get out of this mortgage. Ps. Kicking myself for not waiting just another month.
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Britannia Mortgage
Hello all my 5 year fixed rate (5.49%) with britannia ends in June 09. my mortgage is around £48500. i have 12 years left to run Britannia are doing a 10 year fixed at 4.99% without any fees. i've looked at other lenders offers but they all want hundreds of pounds, even thousands to set up / arrange etc. i'm no expert but…
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What are my options now?
Myself and my gf bought our house 2 years ago at 157500. Mortgage was 2 year fixed rate interest only from nationwide at 5.4%. We owe 149000. Since our deal is nearly up we can change deals, we would like to go repayment but not sure what we should be looking at. I think nationwide base rate (bmr) is now 4% - is this the…
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Switch mortgage or Not?
Hi, I am new to this forum. I have a question, and hope that you guys can help me out with your advice. I have a mortgage with A&L - Balance: around £ 116K Property value : around £ 140K Mortgage was a fixed rate with 4.70% at 30 year amortization - monthly pmt £ 625. Mortgage exit penalty is £ 3400. I saw a deal with…
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FTB - Career Considerations etc
Hi, I'm preparing for a career in teaching. The route I am taking provides £9000 tax free bursary and £4000 golden hello. As I understand both are tax free. I am still living with parents (as the house is big enough) and don't mind staying put. I have no living costs are my parents very kindly pay for almost everything.…
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first timer........... URGENT HELP
hello all i would like some advice from you people out there, i have used this site before to read but never post and iam sure someone out there can give some advice for me........... my partner and i are in the process of splitting up (been togethor 11 years) we have a joint mortgage and bank account and one child aged 4,…
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Portable Mortgage / First Direct
Hello I'm currently in a sucker situation of being on a fixed rate higher than Chelsea's SVR. I don't think I have a redemption penalty so I'm going to phone them and ask if I can at least be put onto SVR without incurring any costs. I went on a no penalty deal because I'm trying to move house. I saw that First Direct have…
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only 10% deposit...
Hi there, We only have a 10% deposit and speaking to L&C, she says I should save up for a 15% deposit even though on their website or fool.co.uk, there are plenty of deals for a 10% deposit. Are the mortgages on these comparison websites just there for 'show'? It feels like she was implying those mortgages are like…
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How do I work out how much each 1% drop effects my payments?
Hi I hope someone can help I currently have an offset tracker mortgage at 0.59% above base rate. ~Oustanding amount approx. £87,000 how do I work out what each % drop in base rate effects my payments? Just basic payments not including the 'offset pots'. When I rang the woolwich to lower payments to current rates I was told…
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Endowment help please
I have an endowment with NU that is no longer linked to a mortgage. It matures in Sept 2012. It's nowhere close to it's original target of £19,500 but the last SV I was given was in the region of £10k. I don't wish to surrender it, but I am considering stopping paying into it for a while. My premium is only £27 a month but…
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Advice please
1st time user and I hope this makes sense: We have a 2 year fixed rate mortgage with the Nationwide that ends at the end of this month. We are paying 5.08 with the current deal and we have a LTV rate of 57%. We are overpaying by £100 and hope to continue to do so, it has 17 years to run but hopefully we can reduce that…
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Self Employed Accounts For Mortgage?
Hi When providing accounts to a mortgage lender do they have to run tax year to tax year or can they run from the date I started business? Thanks Stuart
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Partner not on mortgage- is my house safe?
Hi first time on here- I'd appreciate your advice! To cut a long story short, I own a house with a mortgage. It is solely in my name. My partner and I have been together for nearly 4 years (although after a rough patch he lives away but is looking to move back). He has never paid anything towards the mortgage but is on the…
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Lenders who consider maintenance/child tax credit/Carers allowance etc
Hi, Does anyone have any details of which lenders will consider the following as additional income: Maintenance payments, Child tax credits, child benefit, carers allowance and disability living allowance? We need to move house to be nearer to Great Ormond Street hospital for our baby who was born disabled, as a…
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What happens if I pay too much before payment date?
I have a mortgage with mortgage express and its on interest only. My payment date is the 15th of the month. What would happen if say I pay my Jan payment on 15th of the month, then on Feb 14th pay the next payment? I am not sure where the payment from the feb 14th would go? Any ideas? Many thanks
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Tax and repayment of mortgage
My interest only mortgage term of 25 years is coming to an end next month and this does not have an early penalty clause. My mother has offered to help me with a lump sum. Please could you advise me of the best way this can done and the maximum that she can pay me without any of us incurring taxes.
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Good / Bad credit joint mortgage 30K deposit
Hello, My partner and I are looking to move. She currently has a mortgage with the nationwide and we are looking to get a joint mortgage to get a property at approx 110K. If we sell our current property we should have about 30k for a deposit. I would like to get on the mortgage as well and would need to as we wouldn't be…
