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Equity Release or is there something better?
Hi, My Mum and Dad need to raise some capital but have no income. They have a mortgage free property so are considering equity release. Is this a good idea or are there any better options? They are 63 & 65 years old respectively. Thanks
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Yorkshire Building Society Application
Hi, We are first time buyers with an accepted offer on a £177500 house with a 15% deposit. We've been having a shop around for mortgages and have been provided with Nationwide 3 year fixed with a repayment of £894 over 30 years and 995 fee. We've found a better offer with Yorkshire for 3 years of 5.29%, 495 fee, and £836…
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Shared equity schemes in Wales?
I've been trying to find out information on mychoicehomebuy and similar schemes, but all the sites I've looked on only seem to cover England. Does anyone know if these schemes cover Wales?
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Can't get 90% mortgage
I've been declined by both C&G and the post office (i.e Bristol and West) for a 90% first time buyer mortgage. All standard criteria has been met....affordability, employment, etc etc etc. My credit report is exemplary and hasn't so much as a late payment showing on it.......yet my credit score (obtained through…
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Advice Please
Can anyone offer advice on this. My father in law has inherited a 2/3 share of a house. He wants to buy out the other third share. He is 62. The third share will cost 130k, the house is worth 400k and will rent for around £1100pm. He has a mortgage free property of his own and intends to rent out the inherited house. Do…
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Overpay Interest Only BTL's or Credit Cards?
Hi, I'd appreciate peoples opinions on this question please: I have two interest-only BTL's (zero headspace in the LTV's). Rental income on each is £ 380 per month, and mortgage payment on each is £160 per month on the latest interest rate (2.75% - Mortgage Express). I could overpay the interest only BTL's to the tune of £…
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Changing Length of Term = Overpaying more
Is it possible to change the length of a mortgage during its fixed term? The idea would be to decrease the term from say 25 years to 15 years, this would increased the monthly payments and therefore one could effectively overpay a substantial amount without incurring any fees? does this sound right or just a pipe dream?
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End of fixed rate with NR
Hi, Im new to this site but am looking for some help. Myself and my partner took out our mortgage with northern rock 18 months ago we have just come to the end of our fixed rate and have gone onto the SVR. We have been quite lucky as we were fixed at 4.9 and the SVR is nw 4.79 we should save about £25 a month, not a huge…
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Portable Mortgage and application fees?
Can anyone help with the following? We are moving and have a portable tracker with thw Woolwich. The mortgage is portable so I know we can keep the rate. We also want to increase our borrowing by about £30k. Questions are this? 1. Assuming we DONT increase the borrowing and borrow the extra money elsewhere, will we get…
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FD Tracker +1.49 or 5 Year Fixed 4.69 ?
I am with YBS and fixed finishes at end of March 2009. I currently owe 160k and house has approximate value of 230k (according to YBS). YBS SVR is 4.99% which is pretty poor compared to some others like Nationwide. I have an offer for both the YBS 5 Year Fix at 4.69 with no fee and FD Tracker at BOE Base + 1.49. My current…
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Could do with advice r/e Standard Life Endowment
20 year policy finishes July 2014 pay in £82 a month last value at July 2007 was £16900 waiting for latest statement which is in post !!!! just rang them up and surrender value is £16,000 should i keep it or sell it? if i sell it i can afford to pay off my £30000 mortgage of which im currently paying off at £226 a month…
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Terminal bonus on Endowment
I had a 30 year with profits endowment policy mature on 1 January 2009. In November 2008 I received the the details of the predicted terminal bonus, however, when the maturity statement arrived the terminal bonus was 30% less than predicted. On questioning the Insurance Co I was advised that they reduced the terminal bonus…
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Cooling off period
Have just remortgaged my house. Was advised to get in on a fixed rate while they are low so i opted for Coventry Building Society offset mortgage @ 4.64% for two years. I got a letter from nationwide to say my rate is now down to 3% that works out at a difference of nearly £100/month between the two mortgages. Trouble is…
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fixed versus variable
I am a first time buyer and have been offered a 3yr variable at 4.14% with a £995 fee or a no fee 3yr fixed rate at 5.79%, which would people advise to go for? considering the current climate.
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advice/help on mortgage
Hi currently own a property with a small amount left on the mortgage which i planned to sell to give myself a large deposit for my next home, due to current climate ive been unable to sell and am now looking at holding onto the property and renting it. This however means i only have a 20k deposit for my next property and…
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Ft buyer, how can I find out how much mortgage?
Can anybody please tell me is there a way of finding out how much of a mortgage we are likely to get based on our income + deposit? Thanks in advance!
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FTB + Ownhome scheme
Hello, I am currently applying to the ownhome scheme for government help in buying a house and I was wondering if I really needed to order my credit in a certain way for a better possibility of acceptance. I have 2 x credit cards. Barclaycard at £500 credit limit of 5850. Virgin at 2500 credit limit of 3900. I also have an…
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Remortgage survey question
We're remortgaging at the moment. With the house price drops, we're not sure when they value our house what it will be worth, and as we're trying to get a 75% ltv mortgage, we need it to be valued well. (we're not talking over the top value, local houses seem to be going for about what we think its worth, we're just…
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FTB Mortgage and Employment
My wife and I have been renting for 6 years, and have through both savings and an inheritance now got pool of money together. Based on estimates it works out as 12% - 15% depoist. She is a teacher who has been with the same employer for over 3 years. I am a student teacher who is currently having interviews for perm jobs…
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thinking of a buy to let
Hello, currently outright home owner no mortgage. Thinking of buying a second house to rent out but I haven't got a clue what kind of mortgage we need to look into getting. Any information or links greatly received!
