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Advice needed- stick or fix
We currently are with alliance & leicester £120k mortgage on a boe base rate +0.99% (giving current rate 1.49%).With all the fixed rates going up and only a matter of time before boe rate rises do you think we should jump on a fix asap or keep tracker which is good rate? Thanks .......Neil
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Missold endowment
Can anyone give me advise. My Mother paid her mortgage, and her endowment was 13000 shortfall. Even though she paid this and paid her mortgage off about 4yrs ago. Can she still have a claim for missold endowment. Thanks
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Which fixed rate mortgage? 5-year (4.99%) or 7-year (5.39%) - You decide!
I have been mulling this over for a while and keep changing my mind! I come to the end of a tracker (0.16% below base rate) with Abbey in a couple of weeks, at which point I revert to the SVR of 4.24%. I have decicided to fix for the long term, and would prefer it to be 7-10 years. Unfortunately the 4.99% 10-year Abbey…
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Halifax Existing Customer Rate Changes
I am not sure if this has been posted yet but i'm sure there are a lot of us out there who are on their 3.5% SVR http://www.halifax.co.uk/mortgages/existing-customer-fixed-95ltv.asp The rates for existing customer have changed a bit with a 3 year stepped rate being introduced. Looks ok to me actually if you have 95% - 120%…
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Clydesdale 90%ltv and new general advice
Hi, We are currently in the process of buying a house for £490,000 but can only raise a max of 10% deposit. The best deal I seem to be able to find at the moment is a 90%ltv 2 yr fixed with Clydesdale at 5.99%. It doesn't appear very clear what their lending criteria is. Can anyone shed any light? We don't want to apply if…
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Alliance and Leicster fixed rates
Hi,Am currently with the Nationwide with a 2 year fixed tracker which will end in August this year.We will then revert to their base rate which is 2.5%.Have been thinking of fixing as am sure rates will rise at some point and have found some deals on the A&L website:5 Year fixed 4.89% with £299 fees4 year fixed 4.49% with…
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3's a crowd
Hi, I posted this on another board just wanted to see if anyone else had any idea. i own a house outright with my mother but live in it with my husband. we want to take a small mortgage on the house but dont want her being bothered with the hassle of a mortgage. I know we need to put my husbands name on the deeds but my…
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Abbey Fixed Mortgage Rates increasing at midnight
We are going to go with the 4.99 7 year fixed with Abbey with £995 completion and free valuation and legal fees. This is the best we can find with LTV 75%. A broker looking for better deals told us Abbey are increasing their rates from midnight tonight. I have called Abbey who have confirmed this but have said if they have…
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Northern Rock borrower refused further advance
I have been with the Northern Rock since I bought my house in 1998 and have never missed a mortgage payment. I am 55 and my wife is 61. Our house is worth between £300 & £350K with a £120 repayment mortgage which will end on my 65th birthday. We want to build a £130K extension so that my mother can move in with us. She…
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remortgage advice
Hi there Was wondering if anyone could give me some advice. We have mortgage with northern rock that has come to the end of its fixed rate. We applied for a remortage through Halifax but it was declined! Our mortgage is only 67000 and house valued at 140000. When northern rock decide to start there new deals again we want…
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Defaults - definition of??
Is a default where some sort of official notice has been served upon you?? Or is a default simply if you made a late payment or missed a payment but settled quickly?? I have a about 8-10 instances where on a mobile phone contract I was late with payments but simply sorted these out with an advisor and paid them very quickly
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Mortgage Application Declined for new Doctor even with employment letter - HELP!
We are half way through a 10 year fix @ 5.79 with Halifax. LTV is 97% and mortgage is 75k We have been approved with Halifax to borrow a further 120k but at 7.09% for 5 years The LTV is now 90% for both mortgages. Halifax accepted my partners letter of employment as proof of income. She starts as a junior doctor in August.…
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Are all defaults treated as equals?
Hi I have a default on my account from a Barclays account back in 2004 which will drop off of my credit record in October 2010. Fine. I have just checked my records on Experian (been using Equifax) and found one I had forgotten about from 2006, when I was doing an Open University course and dropped out because I couldn't…
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How to become a mortgage broker
I am currently a freelance civil/building engineer and disheartened with the current construction industry. I am keen to train up to be a mortgage broker, any advise for what qualifications are required and the best way to get in to it while having no financial experience.
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Mortgages - Additional Borrowing to buy out house
HI I am looking to buy my husband out of our current property. There is £160k equity in the house, and I would need to give him £80k. There is £34k mortgage outstanding, with Nationwide on SVR. There is also £12k worth of overpayments made. Would the Nationwide lend me the additional money I need on the same SVR, or would…
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Negative equity and two mortgages
Hi all, Just looking for some advice on our situation and to help us plan a solution. Recently married couple We have a house which is rented out, going by recent valuations in the same street is would be in negative equity. £170k interest free mortgage, valuation approx £150k - no longer fixed mortgage Our other property…
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Mortgage advice
Hi, My girlfriend and I are looking into part ownership schemes and have found a place that we think is ideal. For a 25% share we need to get a loan of £57,500, we are both in full time employment with a combined salary of about £45k, in order to secure a loan like this, am I going to need a 10% deposit? What kind of loan…
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Rates for Interest Only vs Repayment
Very simple question, but what is the cost difference between repayment and interest only. For instance, £100k mortgage at 5% interest only over 30 years cost is £5000 per annum on interest only If you then went to a repayment basis, ie £100k 5% - 30 years, then how much would you then have to pay? is there a set…
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Lease length on flat for sale
Hi I'm potentially looking at buying a flat for 120k-ish which has a lease which has 118 years left. Was wondering if anyone (estate agents/flat owners etc) had any experience / knowledge of how much a flat's value will depreciate as the lease gets shorter - plus in your experience is this lease too short to consider the…
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Appointment with Barclays..will they accept?
Hello, Im looking to get a FTB mortgage and I do have an appointment with barclays this week to get a mortgage in principle. But I would like to know if my figures are correct and what my chances are. My situation is as follows...loads of figures. Looking to buy house for £250,000 Deposit of £115,000 so require mortgage of…
