-
mortgage virgin...Please help!
I recently purchased a new build home with my girlfriend (my first home) though Barratt homes. The purchase price was £200,000 and took a deal in June this year where you borrow £30,000 for a deposit interest free to be paid back in ten years. Therefore I have a mortgage for £170,000. We had a financial advisor visit us in…
-
Bad credit history, but potentially large deposit, what mortgage options available?
Had around 5 or 6 defaults from credit cards and loans, most of which are due to expire from my credit file after the 6 year period very soon. Unfortunately one default was gained a year ago, so will stay on my credit file for the next five years. In the meantime managed to turn my financial situation around completely and…
-
What are we thinking about trackers at the moment?
Ok, currently in year 2 of a 3 year fix at 6.4% with a 2% get out. Tracker deals currently sit at 2.29%+base, with a booking fee of about a grand, on a 3 year tie in. The 2% penalty plus booking fee would in theory be recouped by month 10 if the rate stays where it is, plus the new product has much better overpayment…
-
Can they still repossess me?
Hello All, I have been looking around this site and there's some very knowledgeable people on here so I'm wondering if you could give me some advice please? I have a mortgage with Redstone and fell into arrears as I was unemployed for a few months. I missed four payments (approx £1600.00) but did keep in contact with…
-
Surrendering endowment - tax implications?
I am thinking of surrendering a unit-linked endowment plan that is 11 years through a 25 year term. I would be putting half towards the mortgage, and half would remain invested by placing it in various S&S ISAs and pension funds. I am aware that there is no tax to pay on endowments when they mature, but are there any tax…
-
100% Owned property now want to do BTL on it
Hi, We have a house that we own outright, and until yesterday had a sale on it, that should have exchanged this week. We are now considering letting the property out, but would like to release as much capital out of the property as possible. House had agreed and surveyed sale price of £240k. Rental estimate is £1000pcm.…
-
MSE News: FSA plans self-cert mortgage ban
This is the discussion thread for the following MSE News Story: "The City watchdog announced proposals today to ban self-certification mortgages and ensure all borrowers prove their ability to repay in advance ..." Read the full story: FSA plans self-cert mortgage ban also see: FSA Mortgage Crackdown: how it affects you…
-
Remortgaging - trackers incl offset
My current tracker mortgage with YBS ends in Dec this year and will go onto their SVR which is 4.99%. So I have been searching and thinking what best to do next. Historically I have chosen 2 or 3 year deals, discounts or trackers. My gut feeling is to go for something similar and the best one I found is Smile 3yr Tracker…
-
Are We Too Late ???
We are 5 years off paying off our endowment mortgage are we too late to try and get some help for the shortfall. ? It is going to be in the region of £8,000 and as i am unemployed at the moment and my husband is on a 3 day week its a problem trying to keep enough cash back to pay it. Could anyone give me some advice please.
-
Mortgage help greatly received
Good afternoon. I wondered if someone could help me out here with some figures as i'm very poor with calculations - especially mortgages. I am currently on a fixed rate 5.79% mortgage with Norwich and peterborough (Until April 2011) when I will have 16 years left. I am in the process of moving home and would like to borrow…
-
Returning from abroad.
My first post on this forum.:eek: I have just returned to the UK after living in the Netherlands for the last 15 years. I am presently searching for a new job and my wife has just found a job. She starts next week. We have both been in regular employment for the majority of the past 15 years, but in the Netherlands. My…
-
Help with BTL mortgage
Hi Looking for some help. BM Solutions pulled my mortgage offer 4 days before completion because they found out the vendor had only owned the property since 23 July 2009. They stated the vendor must have owned property for 6 months before they will lend. After some frantic research I contacted The Mortgage Works, Northern…
-
Should I tell the mortgage company?
I have recently given up work to bring up my family. My husband is continuing to work and we are able to cover the mortgage repayments ok. Do I need to tell anyone that I am no longer working. Will it affect our mortgage life assurance policy at all? I don't want to get caught on a technicality in the future.
-
Property Purchase & Conveyancing Advice
Good Morning I have recently had my offer accepted on my first property. i have my mortgage all sorted and the paper work is currently on its way to me. My next step would be to hire a solicitor or Conveyancer to act on my behalf. I am currently receiving quotes around the £800 mark for the complete service, which is:…
-
Negative Equity
Im after some advice. Just over 2 years ago I bought a house and now am roughly £25k in negative equity. Id like to move to a bigger house now but is there any way that I can transfer my negative equity across to the new house?
-
Are my next of kin liable for my debt?
I have just had to sort out my mortgage as it came to the end of its fixed period. I have been told by an advisor at the Halifax to cancel my Life Insurance with Legal and General as I am a single man of 35 with no dependants, and take out Mortgage Protection instead. This I did, but when I went back to sign some…
-
Bridging loans or 2 mortgages????
Hi, Wondered if anyone can advise me, (i currently know absolutely nothing about morgages). Bought our 1st and current home in 1997. House worth approx £150k and owe £43,109.92 on it. Seen a lovely house bigger than ours, but would say needs a lot of renovation? (bathroom, kitchen etc..) it does have double glazing and…
-
Endowment Advice - I've been really stupid!
This is the current information regarding an endowment policy we took out in 1988. Problem is, we took out two loans on this policy and didn't realise that compounding interest was being added. I never used to open the envelopes - just filed them. But opened recent policy statement and realise we now owe more than it's…
-
Importance of LTV
Up in Scotland but outwith Edinburgh, 300K can you a beautiful semi detached stone buillt 4 bedroom property with a nice big drive and an even bigger back garden in a nice area of your town. Nowadays you see places for as little as £220K because they need a bit of work done and the markets taken a hit. My question though…
-
Does arrangement fee count towards LTV ratio?
The reason I ask the above questions is because I've been offered a deal at 4.99% but that was based on my house being valued at £105K. It's actually been valued at £135K :D so I'm now wondering if I'll qualify for a lower interest rate becasue my LTV ratio has changed. The amount outstanding on my loan is £79,424.93 which…
