-
Daily interest calculation?
I have a fixed rate mortgage with the Nationwide, and for the last year have kept a daily interest spreadsheet to see how much my overpayment has saved me in the long run. However, from January 1st, despite there being no change in the amount owed or interest rate, the payment went up by 4.5p per day - not a huge amount in…
-
Variable rate and Libor rate
I wonder if anyone can help. Our fixed rate finished on 4 December and we have switched to a variable as our house is on the market. Our new rate is libor plus 3.35% which is fine but i had questioned the mortgage company because when I looked at the libor rate it said 4.04 but they stated it was 4.05. When i questioned…
-
First Time Buyers Advice
Me and the OH have been renting for 2/3 years and have recently started saving for a deposit on a house. We are realistic and know what we need to save a lot than you would have to a few years ago & we both work fulltime and have the potential to save a fair bit in time to buy in 2010/2011. The only problem is, I have a…
-
Should I Cash In My Home Plan Now?
I have decided that i need to cash in my halifax home plan which ive paid into for twelve years [the price has already dropped alot because of the economy from last year] because i need to do home improvements before i try to sell my house later this year. I have rung halifax and they have told me that today it is valued…
-
What should I do?
Dear all first of all, Happy New Year! i wondering if you could give me your view on my mortgage situation? in December 2007 I remortage my cottage at a 5yrs fixed rate with the cooperative bank. since then the interest rates have dropped and dropped. in August 2008 i sold my cottage and moved to a smaller and cheaper…
-
Is it time to jump?
Well I've been sitting patiently waiting to see what the market does but I'm now starting to wonder if it's time to jump. My 5.29% fixed rate with Britannia ends on 4/1/09. I will then drop down to their current 4.99% SVR which will save me a bit of money. I currently have two options - Britannia themselves are offering…
-
Fixed versus Tracker Mortgage - Help!!!
I am coming to the end of a 2 year fixed term with the Nationwide on a £72000 mortgage, with 18 years remaining. My house is worth around £160000. I want to stay with Nationwide and can not choose between 2 offers from them: a 2 year fixed rate of 4.98% with monthly payment of £505.52 or a 2 year tracker of 4.49% with…
-
Fixed or variable.
My 2 yr fixed rate is up in May, and I'm thinking of remortgaging with the same BS (Chelsea). My current deal is fixed at 5.39%, Chelsea are offering existing customers a new 5yr fixed rate of 5.49% with no fees, or a vaiable rate of 4.99% for 2 yrs before returning to the SVR of 5.79%. I personally cannot see the SVR…
-
Paying Up An Endoment
if you pay an endowment up do you still have to wait for its maturity date
-
Nationwide statement on trackers - no more rate cuts - HBOS next?
http://www.ft.com/cms/s/0/a3919ada-d8a2-11dd-ab5f-000077b07658.html I'd bet that the other trackers which didn't use their collar last time (e.g. HBOS) will follow suit. The thing is, immediately after the last rate cut Nationwide said they'd be enforcing the 2.75% floor/collar, then the FSA pointed out that if it wasn't…
-
Nationwide to enforce floor / collar at 2%
Nationwide, Britain's biggest building society, will not pass on any further cuts to the Bank of England base rate to customers with tracker mortgages, The Times has learnt. The lender plans to invoke a rule in its mortgage contracts allowing it to freeze tracker rates when the base rate falls below 2 per cent, affecting…
-
can i reclaim fees
I am with the abbey for my mortgage. After 2 years I remortgaged costing in fees approx £240, and again when I took out a further mortgage. In total I have paid out approx £400 in fees. My question is, can I reclaim these costs now with the reclaiming bank fees? Thanks
-
How likely will we be able to get a new mortgage?
Our fixed rate ends in june 2010 and when we remortgage i shant have an income ( will be home with our small children) so we will only have DH's income of £26 before Tax + NI and we will need approx £105K how likely are we to get it , also we used to have an IVA which will go off the records in august 2010 i think so will…
-
Both self employed will it be harder to get a mortgage?
Hi people, hubby and I are about to re-mortgage as our fixed-rate is coming to an end. We are both self employed. He has a Ltd company and the required 3 years of accounts. I've only been self employed for 12 months, but have 3 months bank statements. We have about 50% equity in our house and are looking at a £340k loan,…
-
Interest only mortages
my son in law is only paying the interest on his mortgage. He has a wife and 2 small children. He is about to be off work for posibly a few months as he has a bad hernia and he is waiting for an operation. He is a self employed builder and the building trade is not good anyway at present so his income is reduced. He think…
-
I'd like to give thanks....
to all the people on here especially the mortgage advisors who give up their time to answer our (my) questions for free. Thank you for all your help in 2008 and may 2009 be a better year for all of us.
-
End of Fixed Rate Mortgage
Hi I have a Birmingham Midshires fixed interest only mortgage, the rate is 5.95% untill 1/4/2009 My paperwork says the mortgage will be charged at a variable rate which is 1.99% above Bank of England base rate, Currently 5.25% (this is in March 2007) for the remaining term of the loan, to give a current rate payable of…
-
'getting back' mortgage overpayments?
I have 5 years to run on a 25 year SVR mortgage, but due to £8,000 in overpayments it's been down to a nominal £1 for a couple of year now, so the BS safely hold the deeds. I'd like to 'get back' the overpayments to fund a home improvement, paying back the sum over the remaining 5 years of the mortgage. Anyone done this? I…
-
Mortgage overpayment
Hi all I made a mortgage overpayment on 16th Dec 2008. Do I need to wait until 16th Jan 2009 now? or anytime onwards from 1st Jan 2009?. I ask this as i made the maximum overpayment allowed per month. Just not sure how they define a month? As i want to go and make another maximum overpayment tomorrow. I did this last time…
-
WoM IFA search
guys i have had a search on the forum, but cant find the info i need. im trying to find a WoM ifa, to sort a new mortgage out. the few local advisors i have found dont state upfront if they are WoM. i live near to liverpool, so if anyone can recommend someone, or maybe a useful website, that would be great. thanks in…
