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Change to endowment policy 'smoothing'
Just received a letter from Clerical Medical to advise me that they intend to reduce the amount of 'Smoothing' they apply to the final bonus of Endowment policies. My policy already has a substantial shortfall (complaint pending with FSA). My policy is due to mature in 6 months, how after 22 years of my funds being used to…
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Impact of Intelligent Finance closing for mortgages??
We have had a letter today from Intelligent Finance to say As from 1st October, 2009 when you move home you'll no longer be able to increase your mortgage with us if you are taking your intelligent finance mortgage with you. If you are considering moving home and want to increase your mortgage loan, we have put in place a…
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In trouble, can I break my deal early to change rate?
Hi I have an interest only fixed rate mortgage on a house we bought on the crest of the credit wave so is in negative equity of about 30k (enough to bancrupt me as I'm sure the bank wouldnt accept that shortfall if we sold - which we dont want to) I am about to be made a single mum and though I earn well I am going to get…
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Private mortgage
Hi I wish to providethe funds for a private interest only mortgage to enable my daughter to trade up her house. What steps do I need to take. Pete
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Tracker or Fixed rate?
Hello, my discount rate on my mortgage has just comn to an end. I was on a tracker playing interest only but now wondering what to switch to and what good ones are around at the moment. I confess to being a bit ignorant on these things and some people are saying that the interest rate might shoot up in the coming years…
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Self Employed Mortgage - Any advice???
My husband has his own business and we are struggling to find a mortgage. We sold 2 years ago and have been renting since, have now found a house to buy, the offer has been accepted and we were offered a mortgage in July. The house had to go through probate which has taken several months, now they are ready to exchange and…
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mortgage advice pls
Any comments or advice would be appreciated . . . My mortgage is fixed (4.99) until June 2010. Based upon the lender's valuation (I phoned and checked their up to date valuation) they say I have an approx 85 LTV. I have some savings and by June 2010 I should be able to reduce that to 75% LTV assuming the bank don't…
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First time buyer 5year fixed - 5.99% can I do better?
I've had an offer accepted on a flat, got myself a great price in a decent area £70,000. I want a fixed rate as my wages aren't expected to go up much for the time being and I need to know whats coming out. As I'm looking to live there 5 years, then get a house I've been looking for 5year fixed. The deal I have found is…
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amber / redstone
Can anyone advise me if we can overpay on an interest only mortgage ? we were originally with Amber Home Loans and then mysteriously were moved to Redstone. I believe they are just an administrater for the collection of the mortgage payments. They cannot offer you any new deals etc so I am wondering if they are just a '…
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halifax homebuy mortgage application taking way too long?
I recentlyapplied to the Halifax via my IFA for a homebuy direct mortgage after alot of problems with the RBS (on a previous thread). The halifax gave me a DIP about FOUR weeks ago i think but ever since then they keep asking for things which my IFA says they dont normally do. eg) last 3 wage slips were submitted as usual,…
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Confused and need help!
Hi, As a result of suddenly losing my step-father, my mother has found herself inheriting his house (they were not married and she had no legal claim to the house - ie. not on the deeds/mortgage/etc). However, he also had a reasonable amount of debt and the rest of his estate went in paying that off. That leaves my mother…
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discounted tracker vs fix?
we have a 290k mortgage on a tracker at 1.25% above base rate ie 1.75% currently. We have been offered a 5 year fix of 4.69% with a 1k booking fee and we would have to pay an ERP of 3k on the tracker. I know none of you have crystal balls, but any ideas or even gut reactions!!! appreciated. Grateful thanks for your time.
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mortgage with rented property
How do mortgage lenders take rental property into consideration when calculating how much you can borrow? I have a property that has been rented for a number of years, there is no mortgage on this property. Do they calculate the amount I can borrow* only on my salary * salary + annual rental income (or % of) * 3.5 (or…
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More mortgage protection
I've read a lot of the threads already started on this subject, but I'm still so confused! Our mortgage broker quoted us a joint life insurance and critical illness cover for the full mortgage amount (220k) over 25yrs .. the cost is £112. I've looked here…
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Deposit Advice - Moving Home
Hi, Looking for some advice on house purchase. Currently mortgage free in an existing purchased house. Looking to move and purchase a property with a mortgage which is roughly a LTV of 60%. Does the equity in the current house count as the deposit or would an upfront deposit still be required?
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Endownment Mortgage
Can anybody help with my query. My husband had an endownment mortgage with his ex wife but has told me that he never signed the policy over to her. My question is this. Is my husband still entitled to his share of the endownment policy?
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please please help
My friend had a mortgage arranged with nationwide as a first time buyer at 85% (father as a gurantor) but the vendor has decided not to move , so they found a repo at good price and tried to move the mortgage across to new property. mortgage advisor said the repayments would go up from 750 to 1300 as a result (even though…
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Mortgage Broker Fraud
We have informed the Financial Ombudsman, FSA and hopfully soon the police.
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Gifted deposit mortgage
I've been told by my broker today that the Halifax is accepting a 5% vendor/builder gifted deposit and you pay the other 5% to make up your 10% deposit. I'm not going for it but thought this may be useful for someone out there.
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1st time buyer mortgage on a conversion and brokers
A member of my family has just learnt that they can't proceed with a 1st time mortgage as the property is a recent conversion and therefore hasn't been lived in for a year so the lender who had agreed in principal to an 85% LTV changes it to a 60%. All the savings made over the last couple of years now need to be doubled.…
