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Offset Mortgage and Money Protection
We have just taken out an offset mortgage. Collectively my wife and I can offset just over £100k of the £150k mortgage. The mortgage is with First Direct. Are we safe offsetting over £100k (ie putting it in a account that is linked to the mortgage) ? Ie with only £50k being 100% protected do we need to split the money so…
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Offset Mortgage and Money Protection
We have just taken out an offset mortgage. Collectively my wife and I can offset just over £100k of the £150k mortgage. The mortgage is with First Direct. Are we safe offsetting over £100k (ie putting it in a account that is linked to the mortgage) ? Ie with only £50k being 100% protected do we need to split the money so…
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Remortgage Problem
We are doing a remortgage on a property and have had all the paperwork come through to us from Abbey as well as the appointed solictiros. However, there are some complications. The property is actually in my mums name at the Land Registry. However, the new mortgage is in joint name of my parents and abbey would like the…
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15%-20% Deposit For 2nd home but im on another mortgage
hi all, me and my girlfriend have decided to buy a house together but i am still on the mortgage at my current property (half of the mortgage which is £60,000) now ive found a house that i like its worth £110,000 and i have a dposit of about 15%-20% is this enough i currently earn about £25,000 and my girlfriend earns…
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With Profits Regular Premium Endowment Policy
Hi Looking for some advice please! In summary I purchased a small endowment policy 10 years ago (not for a mortgage) and it's just reached maturity. The upshot is the final value is less than I paid in over the 10 years. At this time of purchase I was adverse to risk, I was shown illustrations of how my policy may grow...…
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Can someone confirm my thoughts please?
Hi, Me and my Partner are comming to the end of a 2 Year fixed with Nationwide interest only. From what I have read on here it seems by far the best thing to do is to let it come to an end and drop on to the BMR, thereby reducing our payments quite drastically. We should then be in a position to overpay / clear debts etc.…
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Transfer of equity costs - help
:confused: Am new to this site so not sure how it all works. I am selling my share of a property to the other co-owners boyfriend, they are currently reapplying for the same mortgage. We are debating who is to pay the costs of the transfer of equity. Should this be equally split or is one of us liable for the costs?. Any…
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whether to pay off debts with savings for deposit?
Hello there all. Thanks for stopping to read this. I am currently saving for my deposit for my first house. I have saved approximately £10,000 so far (aiming for £20,000) but I have debts of £5,000 currently sitting on an interest free credit card (0% for the next 12 months). Now, my question is, would I be better leaving…
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Secured loans preventing remortgaging
Hi all, I am new to this and not very money minded, just need some advice. My mum and dad are struggling at the moment with loads of debt, they are just about making all the monthly repayments. The main debts they have are their mortgage and a secured loan on the house. There is just about enough equity in the house to pay…
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Mortgage question...
I'm going to look at a house later. Its on the market for £115,000, hopefully if I like it they might drop the price by a bit. Anyway I have saved up £70,000 which I am going to use as a deposit, if I cannot get them to drop the price and I have to pay asking price I will need a mortgage of £45,000. Some info about me....I…
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Birmingham Midshires Over-payments: Too Good to be True?
I'm trying to pay off my mortgage with Birmingham Midshires early. I have a variable rate buy-to-let mortgage at 1.95% above the BoE base rate. I've had the mortgage for exactly three years and have £81,096 outstanding and currently pay £398 a month. I phoned BM and asked about over-payments. Their response was that if I…
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Undervalued by e.surv
We've just got back a valuation report from e.surv (who were instructed by Woolwich) which values our house 20k lower than we were expecting at £300k. This will push us into a lower % of ownership banding and make the Woolwich's suggested offering pretty unattractive. Right before starting the application we had 3 local…
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any thoughts?
This is my first post. I have an endowment policy which I would like to surrender, (value in august 09 was 10000 pounds. I want to give this to my three adult children, one has just got married, one has a new baby and one has student loans etc. However, I have debts which I am paying off monthly. What problems am I likely…
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Remortgage appeal advice
Applied for an extra £22k £13 debt consolidation, £9k home improvements (long term house project finishing off). Current loan £102000 House value £240000 New loan £124000 (52%ltv) Abbey have on application earnings as £1424 (hubby net income based on £20k basic annual an £6.5k overtime/2nd job plus my £860 net income based…
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Remortgage Help
I am about to remortgage next March. Not sure what is the best option for me? My property is 162000, i need borrow 135000. Lots of people said the low interest will stay until the end of the next year. Should I choose discount varible or track mortgage? The fix rate is very high now. What is the future prediction?
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Do mortgage offers take into account ones assets?
do mortgage offers take into account ones assets? so i go into the bank looking for a new deal based on these facts 131000 mortgage loan (for the home were i live) currently costs 650 per month also have a house that i own out right worth 50 k that brings in 500 rent per month my wages, self employed 800 per month my out…
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Woolwich and/or broker being far too slow. Any advice?
Hi there, This message is quite long, so I'll summarise it to start with then go into full details. In Summary: Hoping for your advice as our lender (Woolwich) are taking far too long (over 6 weeks so far) to issue an offer (we are now just 4 days away from the original completion deadline), and our broker (London &…
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How will I ever get a mortgage??
Hi there, My fiance and I had a mortgage agreed back in April 2008. However the house we loved ended up falling through. Now we are struggling to get another mortgage. We have been refused once and I am scared about enquiring again. I have a excellent credit rating however my other halfs is not very good at all. We have…
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100% Mortgages
Good morning. I am in a situation where my wife and I have been renting for a few years and now need to buy. We have no deposit but really need to get out of the rent situation before the house prices rocket. I know that before recession set in, 100% mortgages were available. Are they back? If so, where do you recommend we…
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Remortgage to go travelling- possible?
Hi, I am currently unemployed. I am getting fed up with the search for work and I am bored with the UK anyway. I am now considering going travelling for eighteen months or so, which I have done before. I have no money for this, obviously a bit of a problem, but I own a house outright worth about 150k, which would rent very…
