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Mortgage/remortgage unsure need advice
Hello I need a little advice for my parents. They currently outright own there own property and have never had a mortgage. Over a year ago my mother and her brother and sister inherited there fathers property and my mother moved into this property believing she would be able to sell her own but due to the recession we have…
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When to remortgage
No longer applicable. Thanks
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Want to remorgage but no equity after recession
I bought a house for 260K in Oct 07, and I had a 10% deposit. My mortgage was 235K, fixed until Oct 09. Now the house has depreciated to about 245K and therefore I have less than 5% equity in the house now. I want to get another fixed rate and so have tried various mortgage brokers and have also approached lenders direct -…
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Re-mortgage advice needed
We currently have two interest only mortgages, both fixed rate, one at 7% and one at 5%, totalling c.£190,000. Our house is valued at c.£250,000 and we'd like to remortgage (a) to find the lowest rate possible and (b) to free up c.£20,000 of the equity so taking the total mortgage to £210,000. In approx. 10 years time we…
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Mortgage Lending Criteria
I've just come across this website, while looking for Woolwich lending criteria: http://www.mortgages-direct-uk.com/mortgage_lenders.htm Quite indepth, but does anyone know how accurate or up to date it is? marlasinger
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FTB Need advice Please
Good day, I am a first time buyer looking at buying a house. I am looking at a 85% mortgage and have been offered a tracker at 3.99 above base rate for 2 years or a fixed rate for 3 years at 5.69%. The difference in the payments between the two options comes to about 200 pounds a month. I can afford to make payments till…
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Reduce Mortgage or Fixed Rate Bond?
I know this seems obvious which is why I am posting here so if there is a down side someone will point it out to me! Should I put £10000 in the post office fixed rate 1 year bond at 3.3% which will earn me £330 interest or pay off £10000 of my mortgage which will reduce my payments by approx £60 per month so saving £720…
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deposit;poor credit rating
i was wondering if anyone could clarify a friendly debate with someone. I'm currently working on my savings, and was thinking about a mortgage sometime in the future, but unfortunately i'm 'recovering' barely from poor credit rating. My friend reckons that with a 20% deposit I could walk into a mortgage lender and they…
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FTB - Deposit advice
Hi All, Would be grateful for some advice on our current situation. I appreciate it's probably something some of you have heard time and time again but any advice would be appreciated. My partner and I both earn £27,500 each, looking to buy a property valued in region of £110,000 (hoping to knock it down to £100,000).…
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Desperate for advice
Hello. I am desperate for some advice and i am hoping somebody can help me. Around 5 weeks ago me and my fiance were approved for a mortgage on our first house. Our deposit is due in two weeks. The problem is a family member has let me down in a big way, therefore i am 3k short of my deposit. My only option is to take out…
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Advice please on changing my mortgage.
I have a joint mortgage with my ex partner, i want to change my mortgage to get a better deal can i do this with his name on the mortgage. I dont see him and have no contact.
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Is a parent responsible for their son's debt
Hi, Here's the scenario: Single Mother owns her own house and pays mortgage. Eldest son (27) lives there rent free. Grand Parents die leaving Mother a property. Mother agrees to sell property to Eldest Son at a knock down price. Eldest son takes out mortgage on property. Eldest son starts to strip out property for…
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Late Mothers House
My daughter wishes to buy my late mothers house. This is valued at £80,000 to be split between myself, my brother and my sister.The question I have is what is the best way to go about this, unfortunately at this moment she does not have a deposit, she cant rent it as my brother and sister want it to be sold. As I only have…
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Self employed ftb
Hi I was wandering if it would be possible to get some help in relation to buying a house. My fiancee and I are deciding whether to buy a house or rent. I am a self employed driving instructor with an average 3 year accounts of 16k. ( However the accounts arent audited yet). I could earn more if I need to. My partner will…
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Remortgaging Advice Desperately Needed!!
[FONT="]I'm desperatly in need of some advice here![/FONT] [FONT="]Bascially, myself and my partner seperated in December 2009. She moved out of the flat which we had bought just over a year earlier. I gave her £3000 and she agreed that she wanted no further interest or share in the property.[/FONT]…
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Woolwich Mortgate Reserve Account
Hi, I took out a Woolwich Openplan mortgage via Barclays a few years ago and received a Mortgage Reserve of around £70,000. I've used it over the years and although my mortgage is now about a third of what it originally started out at, I've used £20,000 of the reserve. Both the outstanding mortgage balance and the £20,000…
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Mortgage help
Hi, just wondered if anyone could give me some advice. Through no fault of our own (just a lovely ex-wfe) my husband was defaulted in 2006 for £1061, we found out in 2007 and promptly paid £1200 after finding out we'd legally have to. The loan company has been chasing for the interest added of £650 which we were trying to…
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Miss sold endowment
I was sold a Commercial Union endowment policy back in May 1995 by a financial advisor/mortgage broker who also arranged a mortgage through Abbey National. I never actually met the person only spoke on the phone and recieved letters. Now many years on and constant changes of ownership of the policy, CGU, Norwich Union, now…
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Will my girlfriend's job stop us getting a mortgage?
Hi My girlfriend and I are thinking about buying our 1st house and there are a number of issues I reckon I need to know about before we can do so. My first concern is my girlfriends job. She works in the creative industry and is currently a dresser in the West End. This job is for a fair while but it is not a yearly…
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Abbey Flexible Mortgage
As the title suggests, I have a flexible mortgage with Abbey. One element of the facility which continues to confuse me, is what is termed 'overpayment (1) and overpayment (2) in my savings pot. Each month, I make deposits into the savings pot, which is reflected on line. However, every month 'overpayment (1) and…
