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Standard Life Endowment - Surrender?
Just wondering if anyone can dispense a little advice re surrendering a Standard Life (with profits) endowment policy. I live with my GF, with no dependants and the mortgage is paid off. Premium: £90pm Maturing April 2020 (25 years - value £45100) Current Surrender Value £16666 Having recently being made redundant I have…
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Overpay a lump sum on the interest only part or the repayment part?
Apologies if this question has already been answered. We have roughly a £17,000 mortgage interest only and £22,000 repayment. They both have 9 years left to run. We are in a position to overpay about £8,000 but are unsure whether it makes any difference to overpay the interest only part or the repayment part? Any help or…
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Best tracker for short term
My current fixed with YBS of 4.99% ends on 28th Feb(goes onto their svr of 4.99% after this) and i'm looking at going onto a tracker rate. FirstDirect seem to be the best option- No fees (they refund legal costs up to £400-i'm told by my paralegal sister-in-law this should be sufficient) Rate of BOE+2.49% for term. Most…
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Would I have to get a first-time buyer mortgage?
Strictly we are not first -time buyers. We had a mortgage for 2 years and sold our property in 2007 to move to London (this was our first mortgage). Now we are ready to buy again, would we have to take out a first-time buyer mortgage or could we get one of the cheaper 2-year fixed rates? This might sound like a stupid…
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Mortgage/limited company query
Hi Not sure which board this should be on so please feel free to tell me to move it. We currently have a non-portable mortgage & are looking to move house. My husband & I are each employed by a different limited company which we own & we're paid £100 per week. If we increased our salary, say to £15,000 each,we could access…
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So Confused About Mortgage
I have an outstanding mortgage of roughly £64,000, a secure loan of £20,000 and around £5,000 of debt on credit etc. My mortgage rate ends the beginning of March and now that my wage has been increased to over £20,000 (single income), I am wondering when I should be looking to get a new mortgage deal... what's the best…
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Probably a silly question to some people
Hi, I am due to finish a 2 year fix in June 2010. If I choose to revert to SVR for an unknown length of time do you know if I will have to be reassessed and credit searched for a new fixed deal with the same lender later in time? In other words if I allow my current mortgage go onto the SVR for, say by way of example, 18…
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combing 2 mortgages
Myself and my partner both have our own mortgages on separat houses and are considering our options for the future. I owe approx £100,000 on a house worth around £125k and my partner owes around 70k on 130k house. We are unsure as to what would be better to do long term. do we move in together whilst renting my house out…
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Endownment policy with stanrd life and abbey mortage
Hi Guys am new to this wonderful forum I have a question about my father mortgage, he has a endownment policy with stanrd life that will expire the same time as the mortgage expires what is the situation regarding this will they pay a lump sum to the mortage for the loan after this. please can somebody explain what happens…
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switching to interest only mortgage
was wondering whats involved in this, we have a repayment loan with Nationwide and have around 77k outstanding on a 180k+ home. we are planing on selling up and moving out of town to a rural village and down grading to clear debts. im thinking it maybe an idea to go interest only for a 1yr or 2 why the rates are so low and…
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MSE News: Repossession loophole to be closed by Government
This is the discussion thread for the following MSE News Story: "Lenders will no longer be able to repossess people's homes without going to court, under plans unveiled today ..." Read the full story: Repossession loophole to be closed by Government
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First Time buyer needs a little help.
Hello All, Hope you have all had a very merry christmas. My husband and I are FTB and have applied for a mortgage through RBS. I have spoken to them today and they have said it is "all agreed subject to valuation". Could someone please explain exactly what this means. I don't want to get our hopes up just in case but does…
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Getting a mortgage First Time Buyer
I would like to know how you can get a mortgage for a property with no deposit, but then use the equity from buying a house 25% below market value? Then getting mortgage for the 75%? Is it just a scheme to get cash from innocent first time buyers or is it genuine? I want to buy a terrace house or flat buy for 25% less than…
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how can i re-mortgage with bad credit?
Hi, I am new to this site and would really like to ask for some advice please? My husband and I have almost completed a renovation of a steading, (barn in England We have an interest only mortgage, to keep the payments down whlew e complete our project. However, we are struggling with completing as we now have no savings…
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Advice on first mortgage
Good Day, I am a 21 year old, recently graduated from university and am currently living at home with my parents. Obviously i want to start looking to find my own place and am currently working full time in a mediocre job. I want to find a flat locally but don't want to rent as its basically just a waste of money.…
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Woolwich nightmare - what steps to take
Hi, My husband & I were trying to arrange a mortgage in July with the woolwich (Dh was an existing mortgage customer) however despite taking the mortgage arrangment fee and survey fee they have not completed the mortgage. We had an offer in principle but they have just failed to get to a formal offer. We eventually lost…
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Advice re mortgage
Hi, i am looking to get a mortgage later on this year and am after some advise re deposits and length of self employment. I am a licenced london black taxi driver so am self employed have been in this job for 1 year now and have a years books from my accountant. At the moment i have a 10% deposit saved. I was wondering if…
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Do I have adverse credit?
Hi, I'm looking to be added to my partner's mortgage (we've lived together in his house for a couple of years now) but not sure what my chances are of being accepted, so was hoping for some opinions before we put in an application! I had a few (5!) late payments on one of my cards a couple of years ago due to not having a…
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Mortgage on incapacity benefit
Hi, i want to buy my council flat on the right to buy scheme. I am on long term incapacity benefit £360 + pension £125 = £485 per month what are my chances of getting a mortgage as there will be £25,ooo equity with my discount. I will never work again because of my illness which is not terminal. I am 44 and have a house in…
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Info re: Fixed Term Mortgage ending
Hi all, Quick question really. We're new(ish) homeowners and are due to come to the end of our Abbey 2 fixed term mortgage deal at the beginning of June 2010. It's a 100% mortgage and it's interest only, but we've made payments off the capital seperately. The current rate is 7.4% ( i think) and I'm just wondering what…
