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Mortgages & endowments

Archives for July 2009

Previous missed payments - impact on mortgage application
Ive just checked my credit report with experian and equifax and both rate my credit as good (no defaults, iva's, ccjs or bankruptcy) and all my payments are up to date. Last year i had a spell where we were in financial difficulty and I missed 5 payments on my credit card this was brought up to date in march 2008 and ive…
nationwide, existing borrowers on fixed deals
Last year, I contacted the nationwide to see if there was any better deals than my 5.18% fixed rate mortgage which runs till 2016. I was told I could switch to other deals within the nationwide, and got sent out a form, but I decided against it. This year, I had a look on the website, as I was beginning to wish I had made…
B2L Mortgage necessary for rental?
Hi guys, Following a previous question posted in here I went to a free, all of market mortgage broker for some advice on changing my mortgage. My current fixed rate was about to expire and go to SVR. Its currently and B2L and I looked at going to another B2L fixed for two years. Do I absolutely need a B2L if I'm letting my…
Seperated from wife
i am now seperated from my wife and would like to get my own place, my name is still on the other mortgage. i might be able to raise some deposit. how would i stand on getting a mortgage for myself. Thanks Tony.
Parents as guarantors?
Hi, me and Partner are looking for a first time mortgage but it's just not happening for us as my bad credit rating, the only people who will lend are looking for a 25% deposit, and the houses down in Exeter are an average of £150,000 for a 2 bed terraced. We have a £25k deposit, but nothing here for £100k. My parents are…
confused and dazed
We are in the process of buying a house we have employed a financial adviser to sort out our mortage. he gave us a mortage in principal based on our deposit roughly 60% of £200,000 we have now applied for a mortage of 88,000 with a 130,000 deposit with abbey and have been turned down, owing to an arears mark against my…
Will this be a Catch 22?
4 years ago my business went under, I renegotiated with credit cards etc, communicating every step of the way and agreed to interest free payments of which I have not missed a payment. My house has been up for sale for some time and has been reduced in price substantially. The idea being to buy a cheaper house and settle…
First time buyer
Hi,I wonder if anyone could help me.I am looking for a first time buyer mortgage and have 25% deposit and am in a permanent position that pays £46,000pa but also owe £7,500 as part of a loan. I have £8,500 in my bank account and was just wondering if it was better to use this money to pay off the loan or use the money in…
That old chestnut about endowments
The yearly statement from SL darkened my door again this week. Paid in £693.60 this last year yet the fund value is worth over £1,000 less. Fund Value = £11,942 Surrender Value = £12,354 Monthly payments are £57.80 meaning I will have paid in £17,340 over the 25 year term which is due to end in 8 years time. Lowest…
Mortgage application gone to underwriters, help please!
We applied for a mortgage through Nationwide nearly 4 weeks ago now. They came back last friday, saying we have been approved, however, the total they will lend us is £16k less than we need. This is due to the fact that they wouldn't take my husbands yearly bonus into account... we have given them numerous…
would a new tracker be advisable at present?
coming off a fairly high fixed rate next month - we've been offered by the same lender: 2 yrs fixed 3.59% £199 a/f or 2.49 abr tracker (so 2.99 at present) for 2 years a/f £199 has anyone any thoughts or advice?
2nd home mortgage
Hi First time on any forum ever!! My husband and I own our home (about 15 years of an £80k mortgage left on it) and have approx £75k equity in it. We need to buy a flat for him to live in as he works away during the week.The flat is £75k Is it true that we can only get a 2nd home mortgage from our current lender. This is…
Mortgage help please - LTD Company CVA
Hi I'm just after a bit of info re mortgages. My husband and I sold our house 2yrs ago so that my husband could invest money into his busines and have been renting since. Since we sold our house the business has had some financial troubles and has entered into a CVA with it's creditors. The CVA is due to run to the…
Release date of Martin's revised "Re-mortgage Guide"??
Hi I copied this text from this MSE site, it's in relation to Martin's Guide on re-mortgaging: "STOP PRESS FEBRUARY 2009: Massive changes in remortgage market Since this guide was last fully rewritten, the credit crunch has hit, house prices have plummeted and the UK has hit full blown recession. This has had numerous…
Mortgage Advice - Stressed!
Any advice would be greatly appreciated. I’m currently in the process of buying my ex out of the house. We had a mortgage together of £45,000.00, which I am taking on in my name. He has agreed to accept £15,000.00 as this is all I can afford. We are currently with the Abbey, but I have applied for a Woolwich mortgage…
Avoiding Mortgage Settlement Fees
To pay off your mortgage or when you come to the end of the mortgage term and you are paying your final installment banks and building societies charge anything between £500 and £1000 to close the account and return your property deeds. Here is one way to avoid this scandalous charge. It will only work if you are moving…
Homebuy direct staircasing help :S
Hey guys, Me and my partner are also currently going through the HBD scheme. Today I looked further into the "staircasing" where you can pay back the equity loan. Has anyone else looked into this as I believe I have found the downside "catch" to the HBD scheme if my understanding of it is correct. By the end of 25 years…
C & G Changed Conditions
Just got off the phone to C&G as was trying to arrange an payment break. They have informed that the T&C's changed "late last year" so that you can only have one every 3 years. This is not what i signed up to. I was told when i signed the mortgage that i could have one every 12 months (providing i had paid 12 full months…
Porting Morgage advice Help
Hi,me and the missus are parting,and i am in the process of porting the morgage to a new property.I havent had an offer from them yet due to paperwork etc.there is a chance i may be laid off from work in the next few weeks,so will the chance of getting a morgage be nil then??What if i manage to get another job fairly…
Re-negotiating a mortgage
Hi all, My knowledge isn't 100% up on mortgages, so if it's daft or doesn't make sense, please bear with me. We took out our first mortgage last year with Halifax at a repayment fixed rate of 6.59% for 5 years. At the time it was the best deal available and we could easily afford it. Unfortunately, due to the current…

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MSE News

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Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
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Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
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Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
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Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
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Mortgages & endowments

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