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Shared Ownership - do 100% morgages exist
Hi All We have just been approved on the shared ownership scheme. The next step is a morgage and this is were we are slightly lost! do 100% morgages still exist? we dont have a large deposit to put down and we were hopeing the shared owenship option was a way on the property lader. We will need a morgage of around 68,000,…
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How much does overpaying actually reduce the minimum monthly payments?
Hi all We're just about to get a new mortgage to buy a house. It is an interest-only mortgage but we are allowed to pay off the capital by paying more than the minimum monthly payment. There is no limit on how much we are allowed to overpay. According to First Direct's mortgage calculator, if we take this mortgage for 25…
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nationwide loyalty mortgages
Ive just had a look on the nationwide website and it gives you the option of whether your a new customer, im thinking of moving and had a look at the so called loyalty offers, they state this Existing customer - mortgages for buying a home If you're moving home, we can help you every step of the way, from working out what…
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Offsetting vs repaying the capital
Hi all We're about to get a First Direct offset mortgage. It's very flexible and allows us to overpay/offset as much as we like. As we do not earn interest on the offset amount, nor do we get charged interest on the corresponding amount on the mortgage, am I right in thinking we are better off offsetting any overpayments…
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Fix for 2 or 5 years?
Having a real dilemma! Am a ftb and tempted to fix for 5 years. My IFA says she never recommends fixing for more than 2 years. Do you think this is still sound advice in the current climate? Do any other IFAs reading this give that same advice? Thank you.
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Deposit
Hi, We are buying a house from a memeber of family later on this year. The house is worth £150k but they are VERY kindly agreeing to sell it to us for 70K!! We are fist time buyers and have been saving for a deposit and were wondering how much deposit we would need in these circumstances? Is the deposit based on the amount…
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Declined mortgage by existing lender..?
Hi all First post here so be gentle....:o Just coming to the end of a 2 yr deal with current lender (IF) - and have applied to change mortgages onto another deal (a 3yr tracker) - and convert the mortgage to a repayment (was int only). Just got in from work to find we've been declined... and am confused. Both wife and I…
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Buy to let disaster - is my own home at risk
Like a lot of people I suppose i was lulles into the buy to let market buy a developer who promised the world, rent would easily clear the mortgage yadda yadda. Im not looking for sympathy as its my own damn fault im in this mess. What i want to know is. if worst came to worse and i couldnt afford to keep both my place of…
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Changing a name on a mortgage
Hi I am currently splitting up from my wife and I want to know if it is possible for her new boyfriend to replace me on the mortgage. If so, does anybody know what the process is? Thanks
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Fast Track - not so fast A & L
Hi- currently moving house - and went to a broker - Due to various reasons he advised a fast track mortgage. We have a good deposit and was 26/74 % LTV. (wanted interest only for first 3 years as the house needs doing up) Where I worked until 3 months ago recently went bust and it transpires they were not paying the NI and…
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Self Cert Mortgages
Hi My husband is self employed, and as the housing prices have dropped we can afford to buy. But being newly self employed, high streets dont want to know. Can anyone advise a self cert mortgage company? Thanks:confused:
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Is My Mortgage Repayment Correct ??
I've recently received my mortgage statement from Abbey along with my new interest rate from January....thought I'd check it using several online calculators & the spreadsheet written by Locoblade. Try as I might I can't seem to get my monthly repayment figures to equate to those sent by Abbey (the letter states I'll be…
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worried about rejection!
Hi, Just after some advice.... Me and my partner are at the stage that we want to buy a house. We are currently renting and have a deposit to put down. The only thing that is for concern is my credit rating. I have poor credit due to a previous relationship in 2006, which my ex left me in debt and didn't bother to pay his…
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Re-mortgage advice -fixed or SVR?
This is the first time I am posting and I would be grateful for some advice. My 2 year fixed rate mortgage deal comes to an end this April. I am looking for a £97.500 mortgage and the value of the house is £130.000. Initially, I was thinking about a 5 year fixed rate as the interest rates are currently low so I thought it…
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Mortgage Advice Needed - Relationship Breakdown
Hi everyone, I am after some advice please. Anything will be much appreciated. I split with my girlfriend about 4 months ago and we have a joint mortgage on a house. For the past 4 months she has been living in the house and paying the mortgage. I have been paying the credit card debts and 2 other personal loans we had and…
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Too good to be true?
Hi all, Heard lots of good things about this site so I'm hoping someone can help with info about claiming back money that just sounds too good to be true. I was contacted by my financial advisor today and told about a process by which you can claim back money from credit cards, loans and mortgages taken out before April…
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Standard Life endowment
Been to see IFA about Standard Life policy relating to mortgage - advice was to keep hold but would like some feedback because still not sure. Policy details as follows: Homeplan fund name - Life With Profits Fund Start date - 6.5.1992 Maturity date - 6.5.2012 Value 6.5.07 - £16533.87 Value 6.5.08 - £18559.27(fund value…
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Average charges/costs new mortgage
Hi can anyone advise me of the average charges/costs for a mortgage with a new lender when the end of a fixed rate has been reached? Thanks
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Barclays - been on hold for 1 hour!!!
Hi I'm concerned I've called the wrong number. I'm trying to call Barclays to discuss my current mortgage but I've been on hold for 1 hour, I phoned 0800 022 4022. Have they changed their number or are the shut for the evening?
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in the middle of mortgage process, question?
hi, i am getting my new mortgage with britannia. they are now at the stage where they say they will assess my application and payslips. what do they actually check? im sure the application would have been checked at the start?
