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Maintenance being treated as gross income when it is net
I have just spent 3 years fighting to keep my home only to now be told by my bank that they will not treat my maintenance as net and so will not give me enough to cover the mortgage on the house. They are insisting that they will treat what I receive as gross even though it is subject to a court order and I do not have to…
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Credit card or overpay mortgage?
This is my first post on MSE (although I've been hanging around for a while), so apologies if it seems like an obvious one! If your fixed rate was coming to an end and your mortgage payments were due to drop by around a third as you moved onto your lender's SVR, would you a) immediately start to overpay on your mortgage,…
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Interest only mortgage - Help
Evening all Can anyone help please? I have an self cert mortgage for £93K (not much equity left) and cards loan etc up for £15K, Everything is in my name although OH contributes quite substantually. My OH has just been made redundant, although he doesnt intend to be out of work for long - I am a panicer. What I would like…
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am i mad??
I want to capital raise on my residential property and then rent it out for one year before I move back in. Would the mortgage company force me to take out a buy to let mortgage or let me take out a normal remortgage in such an instance.
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5 Times my income
Basically me and my partner are ready to get a house and now need a mortgage. However we can only get a mortgage in my name at the moment as my partner only have a fixed term contract with work. Now we can afford to pay back the mortgage amount which we require and we are quite financially safe. Because of this we are…
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How long is a piece of string? Another mortgage question!
I'm not the most financially savvy person and I'm not sure what to do. I just thought I'd ask you good people what you think having skimmed a few threads and seen how helpful people are!! My 2 year fixed deal (5.79%) comes to and end next April (yes, I know things could be very different then!)....how I wish I'd taken out…
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5yr Fix 4.99% Northern Rock 70% LTV
Looks Like the 5 year fixes are coming down. Lets hope we see 10 year Fixes less than 5% soon. Any guesses?
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Voluntary repossession compensation
Hello. This is my first post on this site. I don't think it has been covered. I posted it on another site but haven't received any advice to date. Anyway, here goes with the story - My wife went bankrupt in 2005. Her business failed, and due to her being a silly billy most of her borrowings were in her name and not the…
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ERC - From 'fixed' to SVR?
Hi folks, I'm about to enter the 3rd year of my 3-year fixed rate (5.75%:confused: ) mortgage with Britannia. Does anyone know if they wound allow me to pay the final year Early Repayment Charge of 1% which equates to about £1400, in order for me to move to their SVR which is currently 4.2%:rolleyes:. If they allowed me to…
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need help - which rate is better or are they the same?
Hi there, some advice needed off a knowledgeble person, Have a ucb £70k btl mortgage moving onto variable rate of 4.99 this month ( 23 years). am allowed to overpay without penalty rental income is currently £450 a month Am weighing up two options 1) paying £75 fee to ucb and making it 85% repayment and 15% interest only,…
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Mortgage Retention Question!
Hi all, I'm buying a house that needs various essential works completed on it. Our mortgage provider (Abbey) have imposed a £10,000 retention. I anticipated this and it's a fair amount. My question is; are my repayments based on the amount I initially borrow, or on the total amount I will be borrowing once the work is done…
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Ftb with debt!!
Just wondered if someone who knows their stuff could help me out. i am a first time buyer with debt. when i say debt i dont mean CCJ's or anything like that, basically just over 16k of Credit Card debt with minimum repayments of around £300 a month. what i want to know, as this will be a joint application, how would my…
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Mortgage arrears
hi can any one help me please ihave a morgage with g.e.money and i am in arrears with a suspeneded possesion order i pay my monthly payment plus £60 of the arrears but 6 months ago i requested to go on interest only and they said yes but for only six months which is now at an end so am back on capital and interest.…
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Mortgage Application from NatWest is REALLY SLOW!!
Hi all, I just want to express my frustration with NatWest recently. I went to my branch to apply for a mortgage 3 weeks ago. They said they will give me a decision to lend within 5 days. After 5 days time, I call back to my natwest personal mortgage advisor to see if there's any update. Guess what, the mortgage advisor…
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mortgage portability
I took out a mortgage i believed to be portable with an excellent rate. My offer letter clearly states the mortgage is portable. Now I have come to sell the property they are saying no. I have ben to the ombudsman and they have sided with the society saying mortgages are never really portable as each one is a new contract.…
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2 part time jobs equals one full time for a mortgages?
This is a bit of a complicated issue so pelase bear with me. I am currently employed on a full time contract by an associate college of a nearby university. I am undertaking a part time PhD (0.6WTE) with this university and have won an award to support my studies which covers my salary costs. In order to administer the…
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LTV Remortgage query
Hello, My fixed mortgage deal came to an end a couple of months ago so I am now on the SVR. I rang my lender at the time (alliance and leicester) who said they could not offer us another deal as our currrent LTV was about 98% based on their forcasts of how much the property was valued at when we transferred our mortgage to…
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Buy to Let mortgage - is this deal a no brainer??
We're currently planning to move to a bigger house and rent out our existing home rather than sell in the current downturn. We need a buy to let mortgage on our current place to raise a deposit for the new one. Our existing lender (One Account) has said they can do both mortgages as one big pot, at their going interest…
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Fixed rate mortgage - seven years to run - any wriggle room?
Hi! I've got a fixed rate offset mortgage with First Direct. It's for £80000 and I'm currently borrowing around £79000 on it. The rate is 5.29% and it's got seven years left to run. I'm paying on average £340 per month interest only. The house is worth at least £150000. As I understand it I'm committed to borrowing at…
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Questioning Capital
The girlfriend is sorting out her property share with her ex through some solicitors, and whilst I understand most of it the capital payments are a little confusing. 2 Years ago she owed 94k on the mortgage (obviously some of these figures will be rounded). Today she owes 91k Now as part of splitting the equity in the…
