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Mortgage related questions for first time buyer
hey Me and my partner are currently in the process of purchasing a house but have yet to agree a mortgage. Would like a bit of help on what would be the best type of morgage to go for; fixed or tracker etc? We have a 20% deposit on a house worth 245,000. When i search for mortgages on moneysupermarket.com site the results…
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Is this the best I can get?
The best deal I can find is on Moneysupermarket and is for a 5 year fixed rate at 3.99% with A&L. My mortgage is for £47000 with 19 years left. My house is worth about £85000 so I'm below 60% LTV. The mortgage is portable which i want but i'm not sure if I can do overpayments. It costs £251 on the valuation fee and £40 on…
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Missold endowment help
Hi I have recentlely complained about a mis-sold endowment. I took the policy in 1992, I was only 21yrs and a bit naive. I was told it would pay off the mortgage in full and give me a lump sum, although it looks set to have a shortfall of at least 15k. In 2002 the bank in question contacted me and said through their fault…
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Student Mortgage
Hey guys A little about me quickly. 21 years old, living with parents, final year of my degree graduating this year. One years teacher training - PGCE starting september 2009. £15000 House deposit saved. Part time Job early morning cleaner in somerfield earning around £400 a month, have been there nearly 4 years. With the…
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Help Needed With Mortgage
Hi hoping somebody will be able to help me with my situation. Me and my wife bought house two year ago on a prime mortgage as I dont have a great credit rating we were paying a higher rate. This was for 2 years fixed of 6.6 percent, on a 95% mortgage. I took this on interest only hoping that after 2 year it would then go…
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remortgage nightmare need HELP!!!!!!!!!
my fixed rate term is coming to an end and am faced with a problem my mortgage, i currently hold my mortgage with an ex partner we have agreed a small fee for me to buy her out of the mortgage 5k, but my advisor has said that my interest only mortgage was at 95% but says i aint going to be able to get another 95 and 85% is…
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Can anybody help me?
I bought a house just over 2 years ago on a fixed 2 year interest only deal with GE Money. This expired in October and they offered me a new deal, fixed for a year (this was after the first Bank of England rate reduction) I accepted even though it meant I was paying an extra £66 a month. Two weeks later I received a letter…
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Should I anticipate any problems with my mortgage?
I am applying for a FTB mortgage with Halifax through a broker. It is on a 40 year term for around £80,000, and my income after tax is around £1300 per month. The mortgage payments would be around £360 a month. They agreed me in principal several weeks ago, my broker met me just over 2 weeks ago and put the full…
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Better to overpay on SVR or get a new fixed rate?
My fixed rate term with First Active is due to end in 2 months. I have been fixed at 4.95%. I will drop onto the SVR at 1.6% (assuming the rate stays the same for 2 months). Payments will drop from £677 to £492. Am I better to overpay by £200 a month for as long as the lower SVR lasts, or to get a fixed 5yr for 3.75% (deal…
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Re-Mortgaging or name changes with Negative Equity
We took out a mortgage on our first home 2 years ago, my partner had not qualified for her job so her father came on the mortgage with us to help us get it. He now wants to be off of our mortgage despiratly. I have tried to get this change made but Abbey - who our mortgage is with, have said that it is not possible as our…
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Buy to Let to SVR
Hi Im after a little advice. A couple of weeks ago I spoke to Halifax regarding my g/f 's Buy-to-Let Mortgage. I asked them what would happen at the end of her current fixed rate deal. They told me quite clearly that she would move over to their Standard Variable Rate (and not some special BTL SVR, as I suggested) I then…
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Business Mortgage/Loan
Hi, Just begining to do some investigation in this area and I wondered if anyone can point me in the direction of business mortgages or loans that allow a deferred period at the start, to help get the business off the ground? As I said, at this stage we are just looking at options. Many Thanks.
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Someone I know pays only £26.10 a month on thier mortage!!...
Can someone explain how that works? Does it have to be an interest only one or something? I know the interest rates are low but that is crazy!
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Joint Mortgage after split
Hi I have currently just split from my partner and we hold a joint mortgage. I wish to sell the property but have been advised that we will lose about £30k on the property if we sell in this current climate. I know I can rent it out but how do I go about doing this and is it the best option??? My mortgage is due for…
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overpaying mortgage
We are allowed tp overpay our mortgage by £500 per month without penalty and our interest rate is currently 4.95% We could continue, as we have done this past year, to keep the £5000 we want to use to overpay the mortgage in a savings account - but now the interest rates are so low I am thinking we will be better off…
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Tax relief on res. mortgage
My first post here. I am looking to remortgage my PPR (at present I have no mortgage) to buy a BTL as an investment. All the money raised on the remortgage will go towards the BTL. When calculating the Tax Position on the BTL, can I claim the mortgage interest against the rental income?
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Mortgage rate calculation?
How do I work out what my repayments will be once I get of the fixed rate deal which ends in a couple of months. I'm paying 5.89% fixed which providing things stay the same,I'll be going on a variable of 3.5% . Dunno if its just a case of dividing my monthly payment by 5.89,then multiplying by 3.5?:confused: Thanx in…
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Chelsea announce early repayment charge (ERC) amnesty until May 31st
Just saw this on a buy to let blog - doesn't effect me but may be a help to some of you out there, particularly as Chelsea have been one of the worst when it comes to passing on base rate cuts http://forums.moneysavingexpert.com/showthread.html?t=1468503: Chelsea announces Early Repayment Charge (ERC) Amnesty until 31 May…
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Quick question about borrowing for an extension when you have a mortgage in place
Jsut applying for a mortgage with A&L i have the option of borrowing more when applyign for an extension or is this something that could be done 6 months down the line. Would that cause me problems if i already have a fixed rate with A&L in place and then want to borrow more 6 months down the line.
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Do it now while we are young
Hi. Is this a good idea?? At present we have a mortgage of £85000, house is worth £150000 with around 18 years left on it. I live with my wife and dont have any children and due to complications have no intention of having any. Dont want to sound morbid in anyway and this next line is not meant in the way its written. Im…
