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Mortgage - how does it work?
Long story but basically I've got no savings and am about to start a new job with a 1 year contract to have no chance of getting a mortgage. However a house has come up for sale rediculously cheaply near me and my parents are talking about helping me out. They would be able to get a mortgage (only talking about £35k) but…
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Problem getting BTL mortgage
Hi, I have contacted charcol today to find out what mortgage options are available. They told me that I cannot get a BTL mortgage through them because the lender will require customer to be a home owner. Is that true? I have seen a property for 107k - can put down 45k. I earn 21k this includes CTC/CB. Currently living with…
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Advice: Mortgage vs Pension?
I'm new to posting here so apologies if its in the wrong place and I would appreciate any advice. Our situation: we are looking to buy (1st time) the house we currently rent from family for around £110,000. We have £14,000 saved and we want to save up to £27,500 for a 25% deposit. We are currently paying around £250 per…
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Underleases- UrgentInfo wanted
Hi, We are in the process of remortgaing as our fixed deal came to an end. We bought the house 5 years ago as freehold. Had a blip with the initial solicitor as she failed to pay the stamp duty and we had to remind her that she had taken the cash for it and she should pay the fine as it was part of the service we procured.…
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Mortgage Payments - confussion
Hi Guys Need some advice. Due to me wanting to pay off my o/d with RBS, I wrote and asked my current mortgage lender Yorkshire Building Society, to allow me to suspend my mortgage payments for 2 months, what I wanted was a payment holiday for 2 months. An Advisor called me and said this would be fine and that everything…
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Pay off an extra 500 a month
Hi I am on a 3 year fixed rate morgage due to end next year and I have some savings that I want to use to get the morgage down. We are paying 6% and getting lalot less than that in my Isa. I can pay up to £500 extra a month but if I pay more I will be charged. Does the extra £500 come of the total amount (19years left) or…
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Electoral roll address not matching our address
Wondering if anyone knows if it is possible to apply to get your electoral roll address changed? We have had dreadful trouble getting our remortgage sorted, because we are coming back as unknown on their checks - so are endlessly sending proof of address to all and sundry, in spite of having lived here for 20 years. I know…
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Overpay on SVR Vs Save up for new deposit????
We have pretty much got stuck in our new build apartment until house prices have pretty much settled. I am resigned to this (unfortunately!!). We have just moved to our SVR @ 4.99% with A&L only slighter better than when we fixed @ 5.49% 2 years ago. Based on the Nationwide index our property has fallen from £177k to £140k…
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Remortgage with a charging order???
Just a quick question if anyone has the answer, I have an appearance soon egarding finalising a Charging Order on my home, and our mortgage deal is due for renewal in November. The debt is wholly in my name, mortgage in joint names with my DW and payments from her bank account solely. Will the CO (if it is finalised)…
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yorkshire bank
does anyone have any experience with yorkshire banks lending criteria i.e how strict they are with credit history
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Woolwich permission to let debacle
About 6 months ago I arranged a residential mortgage with Woolwich (I got in just before the 2% rate fall). At the time, I knew we had illness in the wife's family (who live abroad), so I checked whether they would give permission to let if we needed to do so. The broker told us we just needed to pay £100 per year and it…
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second mortgage or bite the bullet.
I took out a loan with Northern Rock in 2005 for 160000 at 10 year fixed rate of 4.99%. According to various websites the current value of my home is 295000. I would now like to borrow a further 20000 for home improvements and some debt consolidation. The early repayment fee however is approximatley 8500. What would be my…
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Critical Illness / non disclosure
Hi Guys My wife currently has a critical illness claim going through Friends Proident as she has breast cancer. We found out in the past couple of weeks that her aunt (from her fathers side) also had brast cancer about 30 years ago. As we were not aware of this when we took the policy out, does any one know if it will…
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To cash an endowment and pay off mortgage - or not?
Hi new to this - but need to know I'm not wide off the mark! My FP endowment is now red alert, supposed to get to 70k but projected to be 44k at 4% estimate. My FR mortgage to sept 2011 is at 5.29% If I pay the surrender value off the mortgage (£17k) and overpay the £115 pm also off the interest only mortgage (plus a bit…
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Mortgage for Over 60 year person
My partner and I are trying to get a mortgage to purchase a home. Target price is £175,000. He is self employeed, average salary (supported by accountant) is £23,000 per year. He is 63 years old. he plans to retire at age 70. The best we have been able to do is £56,000. He owns commercial property worth £125,000 with a…
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Paying off mortgage early redemption fee
Hi i have 37k left to pay on mortgage with barclays. i will have to pay 3% fee £1110 if pay off now. However if i leave it till sept 09 no fee to pay. my thoughts are would i be better off paying the fee offset against the monthly interest i am paying. my payments are £583 per month. I have spoke to barclays but they wont…
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Fixed rate mortgage - can I re-negotiate
I'm not sure if there is a precedent for this, or if its even worth asking, but here's the situation. I changed to a fixed rate deal at the end of last year, after the end of my previous deal with Northern Rock expired and I was encouraged to move lenders. This rate was higher than it had been (6.5%) but seemed the best I…
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Lloyd's TSB 'Lend a Hand' - New FTB 95% mortgage product
I just read about this in the Metro and it seems quite an interesting product: http://www.metro.co.uk/money/article.html?First-time_buyers_have_95%25_mortgage_with_conditions&in_article_id=667978&in_page_id=36 http://www.lloydstsb.com/mortgages/lend_a_hand.asp Basically FTB's can get a 3-year fix at 4.39% with only 5%…
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Reducing the term of the mortgage
Hi all, again.. Two years ago I took out a 27 year mortgage for £78k - for a £150k property. I now want to consolidate my other debts on to this as there is plenty equity. Is it advisable to reduce the term of the mortgage ASSUMING I can afford it.. I was going to take out a 5-year fixed rate, and was thinking of lowering…
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Re-Mortgage vs. Additional Borrowing
Hi all, The end of my two year fixed rate is nigh.. :j I currently owe £76k on a £150k property.. would like to increase this to £88k to pay off debt and make improvements. Phoned up my current suppliers, RBS, and asked about this. They keep on trying to put me through a credit check, which I'm not keen on doing quite yet…
