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Should I overpay on Fixed Rate Mortgage
HI. Complete novice here so be gentle. I have 1 year to fun on a Fixed Rate Capital & Interest Mortgage @ 5.7% owing 65K, after which it reverts to the lenders rate. Monthly payments at £660.00. I have some cash up and above that which I put away for savings and I am trying to work out if it would be better used making…
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high salary multiples
hi hoping someone can help. Just accepted an offer on our property so now need to find someone new! Currently have fantastic woolwich base rate tracker 0.75% plus BR. Before we put house on market we contacted woolwich and they said they would lend us up to five time our income. This would have meant £93k on current deal…
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Fix deal ending
My 5 year fixed mortgage is coming to an end soon, my house is valued at £160k, I have a mortgage of £121K and a secured loan of £25K. Can I apply to other lenders for a £121K mortage or will I struggle, will they see the secured loan as me having to little equity? If its going to be a big issue can anyone recommend a…
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Valuations, Mortgage LTV & confusion!
:think:I bought my home in December 2007. Originally the house was on offer at £165k. I bought at £150k, as the vendor needed a quick sale as he was in a chain with a new build and risked losing his deposit. My mortgage lender (C&G) have now told me that it is now worth £125K (i understand values have dropped) - basically…
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Rbs Question
I am in the process of getting an RBS mortgage in conjunction with the LIFT scheme. Heard back from them today stating that everything has passed but they need evidence that I have been approved for the lift scheme. Do you think that this basically means once my broker sends them this document they will approve the…
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Capital Returns MIs sold mortgage
Hi there , i have recently been coctacted by Capital Returns Ltd , saying theycan guarentee me 8K cecause i was mis sold a mortgage in 2006 by Black&White mortgage brokers. Has anyone heard of this sort of company etc etc . Regards Karl
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Do you get the full surrender value of an endowment?
I have asked for some quotes to sell my SL endowment. I don't know if they will come back with prices better than my surrender value. If they don't and I settle for the surrender value,is this the full amount I will get or will there be fees to pay? Also how long until I get a reply,i've been waiting almost two weeks…
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new house
Hi all, hope you can help in abit of a pickle as we currently own a house and owe 161k we are looking to move to a house thats worth 190k and sell ours at 200k so we have a 39k deposit minus solicitors as selling private. joint income is £30k off wages and 1k tax credits for the little one. we only want to borrow 153-155k…
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re-mortgage advice please - is this a good offer?
Hi, we're looking to move and HSBC have told us we cannot port our existing mortgage, (0.5% above base rate) so we must get a new one. The offer they have made seems to be their general 'deal', which does not seem to reflect the fact I have banked with them for 10years and we would be returning mortgage customers. ~…
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5% deposit????
Hi, im a first time buyer and in desperate need to move house. Sick of renting. Anyway i have managed to rustle up £5000 for a deposit but was looking for a property in the value of around £95000-£100000. Is there anywhere left at all that will accept a 5% deposit? I have searched and searched but the least i have found is…
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How much could I borrow??
My wife and I own, own home approx. value 215K, our combind income is approx. 19K. We want to a buy a second house and let our house to part fund the morgage. We have no loans or mortgage. We also have 30K savings. Need to need know the max. amount we could get? the second house is 350K but we are hopefully going to be…
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Deposits??
Dear all, Out of interest, due to this whole credit crunch situation, what percentage of the value of a house tends to be the starting point for deposits these days? I'd guess it would be at least 20%? Regards.. Karl
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Joint mortgage with my brother... help!
Hi I have a joint mortgage with my brother, I am planning on moving out and his girlfriend is going to move in. We want the whole mortgage transferring into his name. How do we do this and what costs will be involved? Our mortgage is with Nationwide and unfortunately has an ERC. Does he basically need to take out a new…
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ex wont pay mortgage
hey there, im posting this for a friend with a dilema. he has split from his gf and they have a shared mortgage. so, he's paying for the full mortgage and she is paying nothing, he cant sell house right now because of the whole financial situation right now so he suggested she move out, he takes over mortgage in just his…
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Advice please
Dear all, Myself and my Wife have decided to stop renting and to move in with my parents for two years whilst we save up to have enough money for a deposit on our first house. I am going to check out what the best rates are for savings accounts but my question is, will it matter where we save our money in regards to what…
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Mortgage Advice needed urgently
Hi There I would be so grateful for any advice out there as I am at the end of my tether.... Basically, my boyfriend and I want to buy a house. I have a really bad credit rating as when I was younger I got into trouble with store cards. 2 years ago I began a debt management plan and I have been making a large monthly…
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Mortgage with less than perfect credit rating
Hi I wonder if someone could help me please. After saving like mad for ages, my boyfriend and I are now in the position to start looking for our first house. We have £26,500 saved up and our incomes are as follows: Me £17000 a year (I do some over time aswell, but this isnt included), boyfriend £26,000 (also does a bit of…
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Interest Only Offset
Hi, I am about to apply for a First Direct offset mortgage - I'll be able to make some large overpayments and aim to have the full balance offset in the next 3-5 years. An IFA advised me to go for interest only just to give greater flexibilty. I like the idea of this, but am concerned FD might not be happy about this…
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Has anyone used Exit With-Profits?
Saw this firm mentioned in the Mail on Sunday's personal finance section...they give a supposed free no obligation review on the performance of 'with profits' endowment policies. Has anyone used this firm, what exactly do they provide after you have given them the endowment details, is it worth using them and are there any…
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Stamp Duty - Give with one hand, take with other
During discussions with Persimmon on Saturday we were told that due to the delay in our property being built we would now have to pay Stamp Duty, as it returns to its "normal" state on the 1st January. Slightly annoying but thankfully all budgetted for. However, with a Government Scheme (HBD) still running until end of…
