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LTV - What is the Value based on
To keep it brief - I am currently on Standard Life's SVR +0.20% (so 5.54%). Not great compared to other lenders. Whilst it makes good sense for most people on SVR's to stick with them, I think mine is high enough to consider moving to a Fixed Rate to protect against potential interest rate rises. Unfortunately Standard…
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Mortgage or Re-mortgage
I have a property that I own outright worth £200K and I am looking to extend the property which we believe will cost around £50K. What is the best option to fund this? A first time buyers mortgage, a re-mortgage or a loan? We have looked in to loans and we still think a form of mortgage is the best option. If anyone has…
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want to move mortgage with northern rock to another property but negative equity
Hi there we had a together mortgage with nortern rock just over 4 yrs ago. house was 200k we had motgage of 190k and 30k loan with them.we then had a child and wife went part time, 12 months later we had a 30k secured loan with northern rock. when deal finished after 3 years payments shot up by 100s of pounds, was same…
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Renew with currect provider or change?
I have been with Principality BS for 10 years on various fixed rates, mainly because they have always offered me good deals. My fixed rate is up for renewal at the end of Feb and I'm really really unsure of what to do. I have whittled down to the following choices: Principality: 3 yr fixed 4.49% £399 fee 2 yr tracker 3.49%…
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Repayment mortage question
Hi I am new to mortgages and I wanted to ask about repayment mortgages. I've had a mortgage for a few years and I've paid out a fortune but hardly paid off any of the actual loan as my repayments seem to be eaten up by interest charges. I am a bit confused by a comment made by my mortgage broker who said that in the early…
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Moving House: Port existing mortgage or look for a new product?
Hello Folks, I am hoping for some initial advice on whether I should 'port' my existing mortgage to a new property, or pay early termination charges and get a new one. I currently have £92,746 left to pay on a fixed rate (5.94% until Jan 2012) for my Shared Ownership flat. I am selling my share for £112,000. I am buying a…
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Can I value house higher?
We bought a new house late last year (offer accepted Sept, completed Dec). Basically it was a new development by a local builder of 8 very high quality houses. None of the houses had sold and the builder had basically run out of money, so accepted around 20% off the listed price for our house. To buy the house, we ported…
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Offset mortgages
Hi there all, Have been looking at taking out a First Direct Offset Tracker, but not sure if it will actually save me money compared to a normal mortgage. Details are: Home value: £180,000 Current mortgage: £36,000 Would also like to borrow £10,000 for car purchase Current mortgage interest rate: Nationwide SVR 2.5% Term…
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repayment or interest only at 58
We are a couple in our fifties. We owe £19000 on our present home but wish to move. We only need to borrow 40/50k as we have enough equity to put down a good deposit on our new home. We want to pay off the mortgage when my husband retires in about 8 years time. He has a 6 figure final salary pension fund. What we want to…
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time to get mortgage
Hi, i am looking to get a mortgage for a first home, but i confused about timescales. The estate agent has recommended a broker who has recommended an abbey mortgage. I pointed out to him that a HSBC one was cheaper that the one suggested. His answer was that the HSBC would take longer to set up. Is this true? or is this…
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Mortgage Express trackers
Having seen the Skipton and now Nationwide breaking there interest rate guarantee it appears whether they can do this depends on the wording in your original mortgage documents. Does anyone know if Mortgage express trackers have a similar possibility. I currently have 3 mortgages on tracker rates of 0.49% above but at the…
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Remortgage - from Single to joint ownership
Our home is currently mortgaged only under my name (bought it before I met and married my wife) and my wife has a house mortgaged only in her name which she uses as a rental propety. We are wondering what would need to be done to remortgage my propety as a joint application and therefore have joint ownership of our home.…
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Lenders Increasing SVRs
Hi all, I'm a little confused. How can lenders just, willy nilly, change the SVR offered to existing customers? Don't all (or most) mortgages have information about the rate onto which customers will switch at the end of a fixed term? How can the lenders possible just switch what's written in black and white? I've got a…
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Fixed rate ended...what to do?!?
Howdy money savers, I have a little dilemma that I wanted some money saving help with. I am coming to the end of my fixed rate mortgage period. It was at 5.15% for three years and I now have a £139k mortgage remaining on a house worth about £160k. My monthly payment is dropping from £804 to £588 as Nationwide are putting…
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change of mortgage but have IVA?
hi im after changing my mortgage to a pay weekly or a one account style mortgage basically to get the years off it. i taken out a 3 year fixed 100% mortgage in march 2008 its an interest only so im not paying no capital and its over 40 years!! i taken it just to get on the ladder basically. the mortgage was £84000 app fees…
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Second Mortgage
Have asked this question before but thread died without a proper answer so asking you knowledgeable lot for advise:- Have a house worth about £130k (£150k 2 years ago) with £99k mortgage @ 1% above base lifetime tracker with 17 years to go with Intelligent Finance (who no longer does new mortgages) Have been gifted my…
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mortgage arears payments
hi i am making reduced payments on a mortgage plus which consists of a secured and unsecured loan the company is taking full payment on the unsecured loan and only a partial payment on my mortgage is this allowed as i am led to believe that my mortgage is a priority debt
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Remove a party from a buy to let
I wonder if anyone has some advice. I have a joint mortgage with my brother on a buy to let property and have had it for over 8 years. Our mortgage is with the Bank of Scotland at present after remortgaging a few years ago. The monthly payment comes from my account where the rental income is paid in by the tennant. In 8…
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Skipton SVR
After quickly reading about Skipton BS rasing its SVR is it likely that other banks will follow suit? I am currently with Lloyds SVR of 2.5% should I be worrried that the rate will rise. If the banks make state they will never be more than 2 or 3 percent above B.O.E. base rate can they just decide to change their mind?…
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Rooftop borrowers offered golden goodbyes
Rooftop borrowers offered golden goodbyes Any body come across this?Rooftop Mortgages has become the latest sub-prime lender to offer clients large discounts to help them remortgage with another lender. Although I have accepted the offer to redeem my mortgage, rooftop has set a date (31st January 10) to close the account.…
