-
Endowment Shortfall Nightmare
We have a "Endowment Morgage" with Northern Rock which is going to have a short fall the Morgage was taking out 1986 and was 25 year interest only morgage The morgage ends in May 2011 and there will be a short fall of between £4000-6500 We were not told at the time of taking up the morgage that taking out this type of…
-
Mortgage too high!
I'm hoping there is someone out there that can suggest a good way out of my situation. I am sure that I am in the same boat as many others. I have a fixed rate mortgage at a rate of 6.34% that doesn't run out until October 2009. At the time I took this out it was an ok deal but obviously now this isn't competitive. My…
-
How much can you borrow nowadays
What are the lenders going for generally, few years back it was 3-5 times your salary, what sort of figures are they willing to go for in these hard times. Are any lenders better than others for getting the 'yes' answer and are there ones who are happy to lend even if you have an existing mortgage and don't intend to pay…
-
2yr Fixed almost up...what to do?
My Mortgage is coming to the end of a 2yr fixed rate at the end of july 2009. Natwest Made me an offer of 3.5% fixed for 2yrs if i take it now. Im currently paying 6.25%, My early repayment fee is £1500. My partner and I Borrowed £143k which was a 100% Mortgage What should i do? Should i stay where i am and wait and hope…
-
Nationwide Fixed rate mortgages - increasing
I just had reason to call the NW with a query about borrowing on my mortgage, and was informed that they are putting their Fixed Rate mortgages up by almost half a percent...so tomorrow thei 2yr FR will be 4.48% instead of 4.09% I thought the fix rates might come down a little further yet? I gues if NW are doing this, then…
-
A bit confused
Hi, I am 25 and bought my first house in 2007 off a family member for £100 000, although it had been valued by the mortgage company as £115 000 at the time. My mortgage is due for renewal in December this year. I currently pay £500 interest only at 6% with an mortgage lender that are no longer lending to new customers. I…
-
Extra Borrowing on a Nationwide Mortgage
Hope I have posted this in the correct section...this is about a mortgage and loan! I just called the Nationwide to make some enquiries about possibly borrowing a £3000 on my mortgage. My current mortgage is 2 years into a 3 yr fix, and my rate is 4.98% I may seem completely naive, but I was suprised to learn that it is…
-
Do I want a tracker or a fixed rate?
I have absolutely no idea if I want a tracker or a fixed rate. Our mortgage will be through the co-op and I initially said a tracker and was offered two different ones: 5 year tracker which has fee and is +2.29% above bank of England base rate. Or 3 year tracker current account special (needs co-op current account with 5…
-
Is this mortgage legal?
Back in the 1980's my mum and dad took out a mortgage with the Woolwich, which meant that when they died the house would belong to the Woolwich. My mum is in her last hours, and we have only recently discovered this. My dad died some 14 years ago. The bank have advised that she owes £175k, but in the current climate and…
-
Mortgage Advice
Hello, First post here! I'm very lucky as in all my finances are all fine. The only things i have is a car loan and a mortgage and both are being paid off no problem and a small balance on a credit card. Thing is my brother has taken on a house build and has run into some difficulty and is unable to get any money to move…
-
Pay off loan and cards before getting a mortgage?
Hi all, Looking to start getting quotes for mortgages later this year. I currently have a personal loan outstanding as well as a (nominal) outstanding balance on a credit card (from a 0% balance transfer). Is it advisable to pay off these debts before trying to obtain a mortgage, or will it not make too much difference?…
-
Help, Standard Variable Rate Has Increased?
Have just received a letter from Kensington, advising my three year fixed mortgage has now gone onto Standard variable rate of 7.5% they quoted their SVR at 7.25 three years ago. What can we do, we would not get the same size of mortgage anywhere else now as property prices have fallen. Any advice would be appreciated as…
-
Relationship between property values and rates
Does anyone know if historically there is a relationship between the health of the property market and interest rates. IE. if the market is buoyant is there a tendency for interest rates to rise, and if depressed (like now) for interest rates to fall? I'm thinking about buying, and worried about negative equity - but I'm…
-
Joint Mortgage: Employed & Self Employed
Hi, my partner and I are currently saving for a deposit. We hope to have around 35k by the end of the year. We are hoping to buy a property for circa 250k. Currently my partner earns cirka 20k and I earn circa 60k, so we think getting a normal mortage should not be a problem (ven though we both got in a little trouble over…
-
Turning inflation into wealth
This was posted on the fool, thought I'd share it here. Of course all the govt talk at the moment is for deflation, but there are powerful reasons to beleive we'll see big inflation in the not too distant future. Posted here as mortgages are at the heart of the sceanario I thought it was an interesting article and…
-
Will I be able to remortgage with another provider?
Hi guys Hope someone here might be able to offer some quick advice. Currently have a £150k mortgage with Abbey. Has about £135k left over 20 years and fixed rate of 5.19% runs out in May. Was going to look into different mortgage options shortly but wondering if we would get accepted as our circumstances have changed. I…
-
break ups and morgages
Just wanted a bit of advice. I bought a property with my partner 2 years ago for £136,000. We have now split and it has been revalued at only £120,000. My partner has now moved out and refuses to contribute towards the morgage. My questions are: 1/ Legally should he still be contributing to the morgage even though he has…
-
The Unbelievable Chelsea BS
I received a reply from the Chelsea BS today re a letter - from myself -complaining about their high SVR of 5.79%. Rather cooly/snootily their reply included the unbelievable remark: "I am unaware of what rates other companies are currently offering"....if you believe that folks then I could sell you 20,000 shares in…
-
UK Swap Rates headed down...
so, it appears that UK Swap Rates have taken a pretty big dip in the last couple of days – so do we think that will be reflected in a new range of fixed rate deals available any time soon? or are the banks just going to keep 'stashing the cash'?
-
HIPs - whose responsibility?
Hey folks, My friend is currently buying a house, approaching exchange, but his conveyancer has pointed out that the local searches within the HIP are out of date, so need to be brought up to date. He's contacted the estate agent who has told him that local searches are the responsibility of the buyer to arrange, and also…
