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interest only mortgage is this high ?
Hi there, I am not sure if my mortgage is a rip off and wondered if you could give me some advice. My mortgage was over 25 years on a repayment method. That was in Oct 2005. In February 2007 I had to change my mortgage to interest only due to a separation. My mortgage is Mortgage agency services No 2 in Plymouth. They sent…
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Alliance & Leicester - 90 days to call & get additional borrowing on same rate
Good Morning All. I've never posted on here but am an avvid reader so thanks in advance to all those that contribute. I've searched long and hard but can't find anyone with the same issue as me, so am posting in the hope someone can offer a little advice. I remortgaged with Alliance & Leicester two years ago, £50ishk on a…
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mortgages for business
hi all i received an email from mortgages for business recently offering me a 5yr fixed rate at 4.29% and i must admit to being a little tempted. Anyone have any pearls of wisdom as to the legitimacy of this company, or what i should check out before i speak to them? many thanks
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FSA Rules : Mortgages from Banks
I am trying to get a remortgage with LTV at max 25%, not essential but I want to do some work on the house whilst tradesmen are available. I have been told by a bank that it is now an FSA requirement for banks to evidence affordability on mortgage repayments through income. I have been self employed for 30 years and never…
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Agricultural tie to property for Mortgage
I am in the process of building a house but it has an Agricultural Tie on it and i am struggling to find a company that will give me a mortgage. Has anyone come accross one or has anyone got any usefull advice please? :confused: Many thanks
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broker says the banks won't go lower on fixed mortgages!
Hi, I am just about to come out of a fixed 6.4% deal to go on a 4.19% fixed deal I have done all the sums and its well worth my while as the saving is over £11,000 and my penalty is low. I have been offered a 4.19% 3 year fixed with northern rock, I asked my broker if this deal reflected the latest interest cut and he said…
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Overpayment on a Repayment/Interest only mortgage
Hello, I have read the tips on the MSE site explaining all the benefits of over paying a mortgage, and would like to start saving interest and reducing the duration of the agreement. But I have a combination mortgage with the Abbey consisting of repayment £17,055.25 and Interest only £31,200 with 10 years left. There are…
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What is a standard interest rate for a endowment key features
Sorry if the title is a bit wordy. Am looking at going interest only, on a £120k C&G mortgage as I am concerned about being on a repayment of £700pm if I lose my job etc whereas for as long as I work then I can make significant overpayments or an investment to reduce the capital. So what I am trying to calculate is what I…
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C&G Fixed v SVR??
Hi, fixed rate with C&G is coming to an end - been offered fixed rates of 4.59 for 2 years with no fee, or 4.39 for 3 years with £895 fee. The SVR is 3% at the moment. Do I go for a fixed rate with or without the fee, or do I go onto the SVR for now and look at fixed rates again when the rates start to rise. Or do I go…
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About to remortgage interest only - seeking advice
Our 2 year interest only mortgage expires soon, it is the first mortgage taken out on a house (£155,000 on a £185,000) property at 5.18%. I'm looking for some general re-mortgaging advice. We're not going to be in a position to be on a repayment deal until Sep 2010 (one of us is a student!). 1) We have some savings (<5k),…
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Time for Mortgage Renwel But My Credit Rating Has Got Worse
I have my mortgage with the Halifax. When I took it out 5 years ago my credit rating was fair but my wages where poor so my dad went on my mortgage as a guarantor. My wages are now good and using a mortgage calculator myself and my new fiancee would easily be able to cover the new mortgage amount without my dad as…
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woolwich interest only mortgage
My mate has a woolwich mortgage .He wants to go interest only as he is not working but has some saving . Woolwich said the interest only option is now closed .does this sound correct .
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First time buyer - finalising mortgages
Hi there Me and my fiancee are have agreed to buy a property and have a 5 year deal mortgage arranged with C and G at 6.09%. Paying the arrangement fee of £99. We're in the middle of going through the conveyacing stage and what I wanted to know is when we come to finalise the mortgage do we still get the 6.09% when we…
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What to do with endowments
Hopefully I'll explain this correctly with all the info needed.. My mortgage is with C&G and I'm on the svr I have 4 endowments, 2 with standard life and 2 with hsbc, 1st standard life matures 15th july 2012, monthly payment £17.19 .Current value as of today is £6,718. This time last year it was worth £7,186. Target amount…
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Transferring deeds after a death
HI, Not sure if this is the right forum but here goes. My father died in 2005 and my mother became executor of his estate. The only thing in this was his house. The house is still in his name and my mother wants to have it changed into her name in order to remortgage (it still have a 9,500 mortgage on it but is worth…
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What would you do?
Here's the scenario Repayment mortgage on main house £140k on tracker @ 2.89 BTL £123k on int only 4.79% On the tracker we only have to pay the interest, with the option of setting up a standing order to pay the capital part. We are considering making capital repayments on the btl as its the higher int rate but it unnerves…
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Abbey Life Endowment MortgageMaster...What to do?
Hello, I have the aforementioned endowment since about 1997. A few years later I moved house and remortgaged to a captial/interest one. I thought it would be a good idea to keep the endowment going as it could be a nest egg type thing in the future.... I pay about £74 per month for a £42k endowment. Of course I get letters…
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Advice on First Direct Offset tracker mortgage
After some extensive (and quite frightening!) research I've noticed that First Direct appear to have a great deal. Offset Tracker (Base + 1.89%) with no tie ins and £799 fee. Over the course of 2 years (my normal comparison timescale) the savings over most other products are £5000! This appears to be too good to be true -…
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Homebuyers or full structural??
We are ftbs buying a 195os ex council semi. I thought of going for a full structural survey but mortgage broker has talked me into a homebuyer instead saying that a house this age doesn't warrant the full str. survey. What is your opinion please/ I have no experience in this area! If the surveyor doing the huyer survey…
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Selling a house and keeping the mortgage
Just met the vendors of the house we want to offer on. They say that they're going to move in with parents, so are chain free. They then said that their mortgage deal finishes in July, and that they have 6 months before they need to apply it to their next house. They told us that everyone has this clause in their mortgage…
