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Any more room for fixed rate mortgages to fall?
I have an application in for a Skipton 10 year fixed at 4.75% I think this is historically brilliant and I don't think lenders will drop much further. If I get their offer I might wait a couple of weeks to sign on the dotted line (if the rate is assured) in case they drop more but at the end of the day I'll be content to…
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Nationwide Trackers
So with the base rate reduced today to 0.5% will the tracker collar be revised? On my mortgage key facts it states a collar of 2.75% however my broker advised me at the beginning of the year that as goodwill this has been reduced to 2% this is good but my current offer is BOE +1.34 = 3.34%. BUT on the Nationwide website it…
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Mortgage for auction property between extended family!
Hello! Lots of questions, and far to complex for me! We are looking to buy an auction property for £350,000 , to develop and have four houses on the site for my family, my parents, my brother and his family, and sister and her family - I know it sounds like a commune but it would be seperate houses! First of all the…
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Help, Please Help....... :(
http://forums.moneysavingexpert.com/showthread.html?p=19440797#post19440797 Please read the thread above and please help my sister resolve this. This situation is extraordinary and I'm hoping one of you lovely people will uncover a loophole or two to put this matter to bed. Thank you in advance. A worried Brother.
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Can someone fully explain this.
I work with a guy, who is Australian, his wife is South African with dual UK citizenship. October 2008 Nationwide gave him an "Agreement in Principal for a mortgage based on a 95% LTV. OK now if you are a full UK citizen, then you have citizenship and where you were born is irrelevant - but at the time of offer he wasn't a…
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Savings v Offset Mortgage
Hi, looking for advice on managing offset mortgages.... I've got a flexible lifetime tracker with Abbey set @ 0.49% above BOE base rate, so after today will be on rate of 0.99% :-) Mortgage outstanding is c£90k and I've got £30k savings offset against this; I still pay interest on whole amount, but overpayments (ie…
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High fixed rate mortgage - help required
I'm currently on an unattractive 2 year fixed rate mortgage of 6.58% on an interest only basis. LTV at the time of taking out the mortgage in October 2008 was 85% so I suspect we would now be closer to 90%. Annoying as it is to see interest rates drop through the floor in recent months, I took the decision to fix as we…
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daft question LTV
I have read alot here and on various bank/BS sites about LTV and many people seem to quote figures like 90% LTV or 85% LTV 75% LTV and 60% LTV. Now I understand that the bigger your deposit the lower your LTV, the lower your LTV the better the rates you get and the more chance you have of being accepted for a mortgage. In…
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End of fixed mortgage & Negative Equity
Hi All just looking for some adivce regarding the below: I was a first time buyer just over 2 years ago and took out a 100% 3yr fixed mortgage. I understand that whe my current fixed rate end this october i will go onto the lenders Standard Variable Rate. My house is also probably worth around 10k less that what i paid for…
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Overpayments on a NR Together Mortgage
We have a 100% NR Together Mortgage, 10% of which is an unsecured loan. We have just reverted to the SVR following the end of our 3 year fixed term, and have decided to make as many overpayments as possible to try to minimise any negiative equity. We called to make an overpayment today, and NR asked whether we would like…
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Help Please. FD Mortgage Problems due to construction
Hello, We are applying for a remortgage with First Direct. They have said that they will survey the property at a cost of £180 but there is no guarentee that they will give us a mortgage due to the construction of the property. The property is timber framed and is part of 300 properties on the same estate, most of which…
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Mortgage rates
Can someone tell me why my mortgage rate is 5.5% (0.5% higher than the fixed rate I had 5 years ago), when the Bank of England has cut the rates to the lowest ever? Is my lender just pocketing the difference??? :confused:
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buy to let mortgage collar
Hello new on here but have a question concerning my chesham buy to let mortgage. On my mortgage offer there was no mention of the collar but it was included on the completion letter. I have queried this and the final response said I would have been told verbally about it on the phone and it was on the completion letter,…
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Endowment Mortgage Dilema - Help!
Hi, Currently have a split Endowment/Repayment Mortgage. Mortgage is about £50,000 of which £37,000 is done with an endowment policy (1 x £30,000 & 1 x £7000) both ending in 9 years time. Policies are with Standard Life and are not expected to cover the cost of my endowment part of my mortgage. My current fixed rate with…
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Inactive Financial Advisors
I wonder if someone can help me. I am not totally sure if it is Money-Saving, but I would appreciate any advice. I have been approached by my old Financial advisor, (who is a genuinely nice guy), however I found out via another friend that this advisor is registered on the Financial Services Authority website as being…
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First Time Buying
Hello all, First post here, so go easy on me. I'm not sure if this should live in the buying/selling forum or the mortgage one, so feel free to move it if needs be. Long story short i'm tiring of renting, 24, with a steady job, currently earn £21k (expect around 10% increase in this annually for the next few years at…
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Help! advice needed
Hi We took out an endowment for £28.5k in 1987 with co-op insurance and in 1998 we stupidly took out another one also for £28.5k but to run over the same period. My mortgage is due to end in 2012 when both endowments mature. My actual mortgage is with Abbey National and is based on the current interest rate. The second…
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First Time Buyer Query
Hi just wondering if anyone can offer some advice, myself and my partner wish to buy a property (2 bed apartment) was valued at 81k offer of 75k made we can raise 15% (£11250) deposit, We are being told at present by anyone we have queried with that we can get fixed rate mortgages varying from 5.9 - 6.5, which is…
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hello, advice required please
Hello. This is my first post on these forums, and I would really appreciate a bit of advice. I am on a fixed rate capital repayment mortgage with the nationwide till 2016 at 5.18%. The property is a leasehold with about 65 years or so left on it. Dunno how much its worth, probs about eighty or seventy five. I know you can…
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First Direct Trackers - Drat and Double Drat
A few days ago I was going to apply for a FD Tracker mortgage, but due to work commitments put it off. This afternoon phone them up, and in light of today's cut in BoE base rates (which I'd forgotten were scheduled), they've put all their trackers up by 0.5%. So their BoE+1.89% becomes a slightly less attractive BoE+2.39%…
