-
Lenders - Poor Credit Rating
Hi all - does anyone have any recommendations/experience of who to contact for a mortgage when we have a poor credit rating? We do have a mortgage at the moment with Accord, but have accepted an offer on our house this weekend. Halifax turned us down yesterday. Should we talk to an IFA in the first instance? Many thanks
-
Bank of England Rate and Trackers
I have a mortgage with IF that says it tracks 1.7% above BOE but I am still paying 4.7% on this. That means that they have not passed the rates on yet and this 3.00% was the interest rate back in November, 2008. Is this how these work? Do they usually take this long (been one 4th december down to 2% - still not passed, 8th…
-
Ovepay or save?
Quick bit of advice please. Moving next week, FTB, mortgage of £119,000 on a £140,000 house (85% LTV), monthly payments of £673, 5 year fix Is is better to overpay the mortgage by a yearly lump sum of £1200 (minimum), reducing the term. OR, save the money, in preparation for moving onto the SVR and possible high interest…
-
How long Survey to Completion
Hi - the people buying our house have used a Broker and a legal panel and have got a mortgage with the Abbey, the survey was paid for over three weeks ago and they have only just booked with us to come and do it on Tuesday - apparently this is the way Abbey do things, everything else in order then the survey ?? Our buyer…
-
Advice on consolidation/salary
Hi I currently have a soon to end fixed rate on a 97k mortgage on a property which would sell for circa £240k. I have a secured loan from First Plus for approx 60k and maxed out extortionate rate credit cards resulting in total monthly outgoings of approx 2.2k. I have never missed payments on anything but have some…
-
Which lenders are the most generous?
Me and my husband are both working part time as we have three pre school children and currently our joint income is £26,000. We are both fortunate in that we can both easily increase our hours and earn a lot more (around £50,000/£60,000 if we are both working full time) but we'd rather not do this for a year or so. We're…
-
Mortgage Payment Protection Question
I have always had Paymentcare from Abbey for my Abbey Mortagage, but recently I got a letter saying they are putting up my monthly payments by £10 a month which got me thinking am I being ripped off. The Paymentcare is £51.20 a month to cover my Monthly mortgage payment of £659 with Accident, Sickness and Unemplayment for…
-
question re Northern Rock mortgage
Have fixed rate mortgage with Northern Rock - 5 year fixed rate ends feb 2010 rate was about 4.35% mortgage was 102000k to start with but we managed (with the help of shares my husband sold pay bring mortgage down to 18k) so that was great. However Husband walked out a year ago - unknown to me he borrowed back 45k from the…
-
FTB mortgage advice
Hi two questions for advice. 1. I am a first time buyer and interested in purchasing a property. Q. Do I need to secure a mortgage before putting offers in or do I put an offer in, then if accepted, approach a mortgage lender? sorry this may seem odd but I still remember many, many years ago when you only sought a mortgage…
-
How long should I fix my mortgage for?
My fixed-rate mortgage deal ends at the end of June. Although the SVR is less than what I'm paying at the moment, I've heard warnings that rates go up after a recesion and heard horror stories of rates going over 10% etc. Therefore, I'm looking at some fixed rate mortgages. At the moment I'm leaning towards fixing for 4…
-
Can we get a mortgage
Hi, we are currently thinking of buying a bigger house, and would like some info if this might be possible we would need to borrow about £110,000, and we earn about £30,000 between us. our house is worth about 160,000, and after selling this we would have about 82000 deposit for another house. the problem is i have…
-
Can you give away your house?
Hey there. My Grandfather is a pensioner with a fully paid off mortgage in a house he's lived in for 50 years. He plans on leaving me the house in his will. We were talking recently how the house it pretty run down and how he would like double glazing put in and stuff like that.. But he would need to get a loan to do it as…
-
Natwest 2 yr fixed vs 5yr fixed
I am buying a property with a 15% deposit and deciding whether to opt for Natwest's 2yr fixed at 5.29% or 5 year FTB rate of 5.99% I'm torn - I think that in 2 years, I'll still be able to get a competitive rate and fix for longer then if need be without having to pay over the odds over the next 2 years. Thoughts please…
-
What should I do? ( mortgage or loan)
Until very recently I had a mortgage on a property that needs a lot of work doing to it. As the mortgage rate was so high,I decided to redeem the mortgage as soon as I was allowed to. Sadly it's looking as though work needs to be started much sooner than I anticipated. Is it possible to take out a small short term mortgage…
-
Mortgage endowment options help ????
I currently have a low cost mortgage plan which is been running for about 18 years Over the years i have had three letters telling me that the endowment is below track and requires more money. This i have done to keep them on track. Apparently in the last five years of the plans lifetime the endowment company gradually…
-
Selling private mortgages
Does anyone know how you would go about selling a private mortgage? I sold a business recently and gave my buyers a private mortgage of 185,00 which they are repaying at 2000 per month for 8 years and 10 months. They will repay over 210,000. I would like to sell this note but have looked on the internet and there are lots…
-
Bridging Loan
Hi, Are Bridging Loans used much in residential property transactions in the UK? If so, when would this form of financing be used? Thanks
-
Mortgage Deposite Help (LTV)
We are looking to move out as soon as possible as we cant stay where we are any longer. We have found somewhere we want to live, but its up for 150k. We havent put in an offer yet, but based on that value, we have just under 20k deposit, so would we be able to get a mortgage anywhere? I have looked online but can only see…
-
help with mortgage deposit please
Hi, my offer has been accepted yesterday. Mortgage application is in process. i need another 5000 pounds for my deposit ( i need to pay 25% as deposit) in addition to my savings. i wont get personal loan as i have already got one from HSBC. my credit card limit is 3000 pounds and my debit card overdraft limit is 1000…
-
Abbey rates for current customers
I'm currently on a 2 year tracker at 0.1% below the BR with Abbey and this ends in October. Although I haven't done much research yet, I suspect I will need to stay with them as I only had 20% equity back in 2007. Ideally I'd like a 3 or 5 year fix, does anyone know what the rates Abbey are offering for their current…
