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Anyone up for a challenging financial question?!
When my business closed a year ago I was left with a £34,000 commercial debt owing to Natwest. They have a charge over my property. I have negotiated a full and final settlement with them of £15,000. My credit rating is not good since the closure of my business, so I can’t get an unsecured loan for the £15,000, and I can’t…
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Name spelt wrongly on mortgage offer
My OH & I have just received our joint mortgage offer from HSBC. Now, my first name is legally spelt Martin, but I normally and informally spell it Martyn. I must have filled in the mortgage application as Martyn in error as that's how it appears on the offer letter. My solicitor has now pointed it out and says she has to…
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Thinking about buying (in the next 1 - 2 years) with partner: how best to split it?
Hello, In the next 6 - 18 months (probably towards the end of this year, to be honest), my girlfriend and I would like to move home to somewhere a bit bigger, as our current place is just too small for the both of us. It's her property at present - she has the mortgage solely in her name and gets a really good deal through…
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Broker question
Hi, We've just had an offer on a house accepted and need to arrange a mortgage. A friend recommended a broker to do this:- http://www.imcfs.co.uk/index.htm Is this a good idea? Are they reputable? Or is it best to get a best deal from the internet search enginges direct from the bank/building society? WM
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Profiting from property - or really a myth?
I had a bit of a heated discussion with a friend of mine and would be interested to hear others' thoughts. My friend bought a property for £218k in 2004. He took out a mortgage for £205k and provided the rest through his deposit. He's now thinking of selling, and - ignoring for a moment the fact this is a pretty bad market…
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Transfer of equity due to separation
Hi I have just signed up as a member, and would be really grateful for any advice regarding the situation I find myself in. I have recently separated from my husband and plan to keep the family home so that my 2 children have some stability. I applied to my current lender (Nationwide) for a transfer of equity into my sole…
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new mortgage with bad credit history
i have had a mortgage for five years with northern rock and me and my wife would like to buy a bigger house and keep our current home to rent out. we have a 20% deposit on a house that is up for 125000 our joint income is £51k per annum but i have some defaults on my credit file which are all payed off our record with…
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Remortgage or sell up?
Me and my partner recently purchased a repossessed property, which still needs some work carrying out (a complete kitchen being the largest piece of work). My partner supplied 25% deposit (£21k), and we had an agreement wrote up so that in the event of us separating, she could have her money back (but not until at least 12…
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Two mortages, one divorce and an ex-husband who could be going to prison!
Hi all, I have an extremely difficult problem that I wonder if someone might be able to assist me with? My ex-husband and I separated in May 2008 and I have a very strong feeling that he is going to be sent to prison later this year. The problem is that we currently have two flats together (both of which are in negative…
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Morgage - transfer of one name on a joint account
Happy New Year everyone! Hi there, I currently have a HSBC joint morgage with my girlfriend. Does anyone know if it is possible to transfer my half of the morgage into my fathers/mothers name? Olly
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Concerns about 37 year term
Hi, I've just read MSE's book "The three most important lessons...." and he talks about the fact that you pay more the longer the term of your loan is. Just a bit concerned as my mortgage is 37 years, although i am getting quite a good rate at the moment (3.5%) standard variable. As i'm single, i felt i needed low monthly…
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Fixed Rate Period Calculation
Hi, I am currently on a 2 year fixed rate mortgage with Nationwide, which commenced on 4 January 2008. I plan to revert to the SVR mortgage after this which will be notably cheaper. I would have expected a 2 year fixed rate to end on 3 January 2010, but in fact I'm told my first payment on the new SVR rate will be on 1…
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Rising rates????
i have a strong feeling that rates are going to rise in the next few months (also my brother is an ex city banker/accountant and he feels the same) - and i would really appreciate some guidnace through the mortgage maze from an independant advisor. my dilema is this i am a single mum and 50/50 self employed and employed by…
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Remortgage home - Grandson acting as guarantor??
Hi All, I'm looking to buy my first home with my girlfriend, we want a house which we can spend the next 10 years in and start a family so we're not after the typical 1 bedroom flat (we're also both 31, leaving it late I know!). We're trying to get £30k together for a 10% deposit on a house. My grandmother owns her home…
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Advice on mortgage plus extra cash
Hi All, I am a mortgage newbie and need some advice on the below question: I am currently living in rented accomaodation owned by my patners father. We get a good deal on the weekly rent (£100 p/w for a 3 bed house in a nice area). The house is worth around £180k, but my partners father will generously sell it to us for…
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Buy to Let - 2nd property
Hi all, I'm new to the site so please go easy on me! I need some help with regards to purchasing a 2nd property. I currently own a house/mortgage with my brother which is split 50/50. The value of the property has increased by 100k. I currently do not live in this house but my brother and his wife do. I'm still paying the…
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Making a decision -remortgaging
Hi everyone I have an A&L mortgage which when I come to the end of my current 2 year fixed deal (5.79%) I will owe approx 95k on a house worth approx 150k (looking at recent house sales on my road etc.). Deal ends end of April. I have had 2 x2 year fixes having owned my house for 4 years. At the time I wanted a fixed deal…
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Is there anything we can do??
In august 2008 we took out a mortgage with abbey national for 90,000.However since then and just recently my wifes illness and her giving up her job have made it difficult to pay the mortgage.so she applied to the local authority for housing on medical grounds for a suitable house due to her health,we now have been offerd…
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Unusual Mortgage
Hi there, I recently inhereted several properties all of which are commercial in nature. They are all curently let out some on leases of 15 years or more. I want to use the cash flows from there properties to fund a mortgage for a residential property. So if I use the cash flows from the rental of the comercial properties…
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Prudential Endowment Policies
Hello, I have 2 policies purchased directly from the Pru to cover a £63000 mortgage due to end Feb2011(£10000 of which has been converted to repayment) According to the latest plan update from the Pru my policies at 6% are now worth Policy 1) Originally to cover £53000 worth £40100 Policy 2 Originally to cover £10000 worth…
