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mortgages: the numbers?
morning all i'm in a lucky position to be but i need some numbers help please.... we've accepted an offer on our property which when all told should yield us about £95k profit. we have £15k savings and an outstanding mortgage balance of £57k with a 3% e.r.charge. right thats the simple stuff out of the way, next. we have…
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Advice Needed - 60 yrs old wanting mortgage
Hi all I am posting this on behalf of my parents who want to do the following :- Borrow £35k to buy a new car and pay of some existing credit card debts My mother is 61 and in full time employment and my farther is 64 and retired. They own their home which is worth approx £145k (taking into account down turn) and have an…
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my story so far, thoughts please
Hello all this is my first post and a sad one at that but let me no what you think. Age: 27 Inome: £24000 (plus me fiddle work as a bonus) Job: Joiner Credit History: Not good I bought my first home two years ago (22nd june 07) at a price of £83000. ive never been good with money so went to a broker and the only deal out…
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Help! Which deal to go for.
I have been offered the following with my existing mortgage provider: - 2 year fixed at 3.29 + £199 fee - 3 year fixed at 3.34 + £699 fee - 5 year fixed at 3.99 + £99 fee - 10 year fixed at 4.69 + £99 fee I have £67,000 left to pay on an 18 year mortgage. Any advice would be much appreciated as to which might be the better…
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Mortgage - Part Buy / Part Rent
I am a first time buyer interested in the various part buy / part rent schemes available with local housing associations. So i have found a property worth £135000 with a 50% share for £67500. If i was to apply for a mortgage £67500 on the 50% share would i be applying for 50% LTV as i am getting a 50% share or 100% LTV as…
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How much can I realistically afford to borrow?
I'm 41, earning a tad over 53K and looking to buy my first property. I've been saving for a long time and am finally fed up of renting a cheap room. I expect house prices to carry on falling this year, probably by 10% and I'll factor that into any offer I make. What I want to know is how much can I realistically afford to…
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Mortgage where you pledge shares as additional collateral?
Hi Does anyone know if there's a mortgage product where in addition to the house, you can also pledge additional assets (shares, gilts, etc) to get a better rate on the mortgage? The scenario I'm thinking is something like: 10% deposit 90% mortgage but then pledge shares worth 30% of the house as well. If the lender…
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concerns about broker
We have gone through a broker/financial advisor to get a mortgage as we are using the homebuy scheme to help us buy. we chose one we would have to pay once the sale has gone through so we knew (so we thought) we would be getting the best advice and everything should be done ok. We have been waiting over a month for the…
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Mortgage Broker lied to us
My husband and I are both in the forces. We bought our house Jan last year and we currently have a 3 year fixed rate mortgage with Birmingham Midshires. Both my husband and I are posted roughy every 2 years. We were told by our broker we would be able to temporarily rent our house on our current mortgage and would only…
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Offset mortgage - save or pay off?
Hi, We have an offset mortgage with the Britannia and quite an amount in savings (> 30k), some of which is in ISAs and some in the offset account. Is it better to retain this as mixture of fluid cash and offset or is it best to pay off a big chunk of the mortgage ? thanks DNK
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Porting and Alliance and Leicester mortgage
Hi all, My other half has a mortgage with the Alliance and Leicester which she is looking to port to her hew house. She wants to do this mainly to avoid the £4000 fee for redeeming within her fixed rate period which would mean she could not afford to move. However when she called, they made her go through a new customer…
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cheaper mortgage or maximum we can afford?
We are looking to buy a flat in a few months and have £25,000 deposit, possibly a few thousand extra. I am just wondering if anyone could give me advice on whether to get a mortgage around £100,000 or go to our maximum £160,000 not including the deposit? which ever we decide we would like a flexi mortgage so that we can…
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Deed of Consent
We are currently buying a flat to rent out. There is no mortgage. Our solicitor has requested a Deed of Consent from the seller, our solicitor has been told by the flat's managing agents that the Deed is with the previous managing agent or with the Deeds of the flat and it is very unlikely that we will ever get it. Should…
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Mortgage for married couple but in only one name
Hello everyone We are looking to buy a house. We have a deposit of £20,500 (currently) and are looking to purchase a property for no more than £140,000 so that our LTV would be approx. 85% (assuming that we actually paid £140k and bumped another £500 into the savings). My OH (husband) has a spotless credit rating; loans,…
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can I get a mortgage with CCJ
Hi just a couple of things bothering me - we had to remortgage in 2006 due to miss sell of endowment mortgage 18 years ago, we also had a couple of debts and had people chasing us for money. We had loan we couldn’t pay (with the nationwide BS) We tried hard to pay everything back. We had a mortgage for £10:000, to pay…
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FTB mortgage - did we get it?
Hi, Hope I'm not being too naive here but we got a letter from A&L (who we applied to for a mortgage) yesterday asking for last month's payslip from me. The letter said if I return it within 7 days "our mortgage offer would be issued without delay". I faxed the payslip through immediately in joyful optimism that we have…
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save for extension or overpay then reborrow?
Hia, We've just started saving for an extension, it's going to take 3-4 years to get the 20k together if all goes to budget but I'm concerned I may be taking the wrong route. I'm planning to save the 20k (using mine & my GF's ISA's) get the extension built before my 5 year fixed runs out in 5 years time then get my house…
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getting a mortgage whilst taking unpaid sabbatical
I'm hoping someone knowledgeable can give some advice. My dh and I sold to rent two years ago are now in the same position as first time buyers and have a 20% deposit. I am a teacher but am currently taking a one year unpaid sabbatical to study for a Masters degree. My job is being held open for me (I have this in writing…
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Which mortgage to pay off?
I have two mortgages on my property with £69k and £79k outstanding. Both are repayment with an interest rate of 5.83%. I play a little poker and do OK, so I have decided to use some of my profits (£100) each month to reduce the debt. I was just wondering if it mattered which of the two balances I overpaid on? Would there…
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Mortgage with partner-how it works?
Hello everyone Can anyone explain to me how this scenario works? Myself and partner get a 30yr mortgage on a property of which we intend to own 50/50. She puts down 75% of the deposit, and we both make equal monthly repayments. If she has invested more on Day 1, then surely the interest due on her half of the mortgage is…
