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What do I do with the endowment money?
Hi, A while back policies I had all started showing red or amber alerts. I decided to change alot of my morgage to repayment and maintain a piece on interest only that could be paid by the reduced endowment values at maturity. I have just had a notice that one endowment is due to terminate. My question is what to do with…
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Advice needed please!
Hi,i bought my first house for 118,000 last year on a two year interest only deal(several private reasons led to this),i borrowed 103,000. My deal runs out in august and id love to get on a capital deal and start paying the house off.Problem is i dont want to be paying £700+ a month which RBS quoted me at the time of…
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mortage credit search
Hi, is it correct that all mortgage searches in 14 days count as 1 search? Also do mortgage companines always get upto date credit reports? Having some troubles as mistakes were on my credit file. These have now been removed but when i tried to reapply the mortgage company said mistakes still there but there report was…
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off set mortgage
I'm new but have been a fan of this site for ages Anyway, I wonder if anyone can help me or give me advise please, a few years ago we wanted to remortgage our house,and our bank RBS advised us to have an offset mortgage, dont know why we dont have that much savings to offset it against. We now owe £65,000 and it has 11…
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Mortgage with bad credit?
Hi, This is my current situation Household income - £31,000 Debts - £350/month about 4-5k to pay off I have one default from 2005 for £90 which is settled and a few missed payments, partner has nothing, maybe one late payment thats it. We are looking to get a house between 70-100k and have been looking at this deal from…
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Borrowing money for a extension - help?
After much milling over my husband and i have decided to stay put and extend our house. We have builder that we're going with, so now we just need to sort out the money. The house is worth about £130-140,000 and our remaining mortgage is £65,000 with a 21 year term left. The extension will cost us £30,000 and we will need…
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Fixed rate help
Hello there I hope someone can help. This is quite a saga, so I’ll try to shorten it as much as I can. We have a mortgage with Abbey/Santander which went from fixed to variable last year. It’s not made much of a difference yet because the rates haven’t changed in so long, but with the inevitable rises that are bound to…
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Remortgage Question.
Hey Folks, I am hoping you can help me out. This is the situation. I bought, in my name, my house about 7 months ago. My parents took out a loan of about 84k, and bought the house for me. I pay the interest on that loan but the house is in my name. The plan is that i will effectively remortgage and give them their loan…
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Overpayment options on Nationwide BMR mortgage
Coming to the end of my 2 year fixed deal with Nationwide and intent to simply stay on the BMR which until the BoE raises interest rates will leave me on 2.5%. Nationwide tell me that my monthly payment will change automatically, but I want to (1) pay off a big lump sum the day after my fix deal ends and (2) start making…
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Buying a house for less than its value?????
Hi I have a quick question. If I am a first time buyer buying a house for approx 83k (the owner needs a double quick sale) that is valued at 102k do I still need a deposit? Thanks in advance
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Husband on sick - will I get a mortgage?
Hi Wondered if anyone could help? Just accepted an offer on our house after 10 months on the market and ready to increase our mortgage to put towards the cost of the property we want. My husband has torn a tendon (December) and not able to work at present but due back hopefully in approx 4 weeks, unfortunately he also got…
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Whats our chances?
Hi All We have a bit of a problem that we feel our past has finally caught up with us. When we got our remortgage 2yrs ago things were a lot easier for us to obtain a mortgage. We now feel we have out grown our house and need an extra bedroom. Our current provider is Accord. The new deal we require is a 75% LTV a £69,000…
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Mortgage choice - advice please!
Hello we are buying our first home and I'm wondering which is the best option that we've been offered. The house is £120,000 we have a 10% deposit leaving £108,000 to borrow: Lender__________Type________________Rate __________SMR__________Fee Lloyds__________Fixed________________6.99___________2.5__________795…
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Remortgage to buy new property advice
Hi Guys I hope someone can help me as i'm a first time buyer who knows very little about mortgages etc! I currently live with my parents, we have made an offer on a house (160k) with a deposit of 24k, I have already been accepted by nationwide for a mortgage of 136k on that house. Now heres the slight complication, my…
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Mortgage Help Please
Hello All, As usual I hope I can count on you for some good advice. Well I had a bit of a kick in the goolies this week regarding my tracker mortgage, now call me a bit naive to which it seems fairly obvious, but I thought this tracker mortgage I had since I bought my house 2 years ago was my mortgage full stop. :( It did…
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First time buyer buying house off parents at discounted rate
Hi, Me and my partner are currently living rent free in a house owned by her parents. The house was purchased for £135k and is now worth approx £140k. We are going to buy the house off them next year at a discounted rate of £120k. As this is less than the value of the house could we get a mortgage for £120k and say the…
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CIFAS warning when applying for mortgage
Hello All, Me and my partner applied for a mortgage with the nationwide on Wednesday but the decision got refered because of a CIFAS on one of our credit ratings. Now i'm quite worried we are going to get rejected because of this.... I've checked my credit rating as I have 0 CIFAS warnings so this must be on the partners,…
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Not too clued up on mortgages, any advice
My 2 year fixed 6.01% finished in january and we have dropped onto Nationwides 4.4% variable rate, Our house is worth approx £120k, we`ve owned for 4 years and it`s our first house. The balance is down to £94k due to having a good couple of years overtime and making lots of overpayments, but not exceeding the £500/month…
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Repayment to interest payments
Hi all, My 1st post! I have a fixed rate repayment mortgage ending 30th April 2010 and it would automatically switch to the lenders SVR in May. However, I would like to switch to Interest Payment only on it's SVR and was wondering if it is possible or would the lender require it to stay on repayment at SVR rates? For your…
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Re-mortgage advice!
Hello, Our fixed rate is due to end in may, we will have £77,000 against a value of 150,000, 18 years left to pay. We are currently paying 5.25% and would go down to SV of 3.69%. We have been looking at fixed rates as we are expecting twins and realy would like to know our outgoings each month. However, is this the best…
