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Iwhat happens if a mortgage lender goes bust to the mortgage deal you have?
Wondering generally what happens if i have a deal with a company that goes bust like Northern Rock neaerly did would my mortgage deal be taken away from me
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change of name on joint mortgage and capital gains tax
hi all . daughter and partner have split up after buying a house six months ago daughter would like to carry on living in house and i would take on ex,s half of mortgage which i could afford and ex is happy to sign over, now the house needs some work rewireing, new boiler ext. and we would sell in a year or two hopefully…
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tracker mortgages are they favourable over an ordinary repayment vairalbe rate mortga
I am considering a couple of deals but have been advised that tracker mortgages are the thing to go for at the moment does anyone have any views on them please
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Is Northern Rock a good lender?
Currently considering remortgage and have been advised of a good deal with Northern Rock should I be wary of them still these days are they still a bit risky?
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Endowment - Unemployed - Advice?
I have recently become unemployed as I am in the house building industry and now I have spare time I want to sort through my finances. I was hoping someone could make some suggestions about my endowment policy. My flexi mortgage is £57,000. Split £15K repayment and £42K I/O. I have a with-profits endowment running to pay…
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is it bad time to be considering a career in mortgage or financial advice?
So much doom and gloom is going around in this forum which have led me to wonder....is it such a bad career choice to be considering becoming a mortgage or financial advisor? Is it due to current economic climate? would the situation get worse? I have heard that housing market will improve and there will be a demand for…
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Historical question: mortgage restrictions 30 years ago
We bought our first house in March 1979. We borrowed £15,000 from the Halifax and scraped together a £2000 deposit saved with the Halifax. Now £15,000 was the maximum Halifax would allow us under any crcumstances, regardless of our joint income at the time, which was £10,000 pa. Also a 25 year mortgage was not allowed if…
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I need a mortgage - tricky situation
Hi, Ive found a place im really after. My situation is this... Im 24, i do own half a house with my mum but she is living in there. I want to move out on my own now. I have a 10-12% deposit (i cant get to 15% in time for the house im after). Ive applied to RBS who seem to want blood. I sent in 10 months pay slips to…
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Fixed Rate coming to an end
My fixed rate is coming to an end. I phoned up HSBC expecting them to offer me a new product, and then show my chooses on here for your thoughts but it wasn't to be. I bought my flat for 97k, fixed for 3 years on an Interest Only but overpaid so owe 93'500k. Apparently my flat is now worth 77K :eek: according to them and…
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No deposit mortgage?
Is there any way to get a mortgage without a huge deposit? My boyfriend is 39 and earns £21,000 a year but is currently living in (fairly cheap) rented accomodation and has no savings. Is there any way he can get on the housing ladder or is he doomed to renting forever?! His thoughts on the situation are either a) taking…
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Co-owning on separate mortgages?
Hello, desperately looking for some advice! I am buying a house with my mum and am days away from exchanging. I am raising a mortgage for my half (all sorted) and she is funding her half partly by remortgaging her house (all sorted) and partly with cash savings. I had a phonecall from my solicitor today telling me that we…
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Self Cert Accord Fixed Due To End
Hi My Accord 2 Year fixed of 5.33% is due to end in January. This was a self cert repayment. The House is worth about £160K and the outstanding loan is 87K. I am self employed and last years accounts show a profit of 17K ( the year before was 10K) My Wife earns 6K We get tax credits for two kids. I have just been to a…
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Good Lenders for Minor credit issues
Hi, My partner and I are about to apply for a new mortgage - I have a pristine credit record, however over 5 years ago she has a default on her file, but has been clean ever since. Does anyone have any idea which lenders are likely to be most lenient in this regard? We've tried with Abbey, but they have a cast-iron policy…
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Speculative enquiry to Mortgage Company to Increase Equity ?
I have a mortgage with SPML whose fixed rate ended earlier this year and I am now on the libor rate. As SPML is no longer offering new products due to the Lehman Problems, would it be worth me giving them the incentive for me to move away by requesting a discount on the amount owed thus increasing the equity/LTV ? Please…
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Change in circumstances?
Should you inform a mortgage lender of a change in circumstances if it doesn't affect your ability to pay? i.e. salary decrease? Can a mortgage company revoke a mortgage? Reason I ask: I took a self-cert mortgage over 5 years ago as recommended by my broker. Obviously my salary was rather 'inflated' to say the least. :o…
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Deposit gift from parents?
Me and my partner are looking to buy a house for £85k. We are FTBs. My parents have offered to lend us £25k so we can offer a 25% deposit on the house and have some left over to pay fees. We also have £5k in savings which can go towards fees. There is no formal agreement to pay back the money or payment schedule, the…
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Interest only vs repayment
Hi...I'm at present on interest only mortgage, and have a quote from mortgage company to switch to repayment. The difference is about £500 (plus admin fee). Would it be better to overpay this amount per month and leave it as it is on interest only, or switch to the repayment? Would this make a difference to length, total…
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direct to lender or through a broker
I'm applying for a mortgage and I'm not sure if I should go directly to the lender or through a broker.. I'm looking to capital raise on my property which is 100% equity no mortgage, capital raise of about 30% LTV. My situation is such that: my salary is 35k, credit card debt of £700, overdraft of £1,500 missed my first…
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Ditch Nationwide fix? Help me crunch the numbers.
We're on a Nationwide fixed-rate mortgage, fixed in November 2008 for five years at 5.78% (yes, with hindsight I do regret this!). Outstanding balance about £106,000 on a house worth around £180,000. Basic payment £772 per month and we're currently overpaying the maximum £500/month. We can currently afford to do this, but…
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Mortgage change of terms and conditions
I took out an offset mortgage with Intellegent Finance on a 5 year deal. Before I signed up I made sure it was portable as we would like to move house before the 5 years is up. This was agreed in writing. They have now written to me with a change in Terms and Conditions. The mortgage is no longer portable. If I want to…
