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paying off mortgage using savings and endowment
Hi, I need advice. I have been overpaying on my £32500 mortgage for a few years now due to being missold on the endowment and being told the endowments wouldn't cover the mortgage at full term. I currently have just over £20000 left to pay and my mortgage is due to finish in 3 years and 7 months. I have £10000 in savings…
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Renting advice and negative equity
Hi, I have a mortgage plus a secured loan which together put me in negative equity by about £7K. I really want to sell the house, but realise that this just isn't possible. It's currently sitting empty - I need to do something but feel trapped. I doubt whether I'll be able to switch to a buy-to-let mortgage seeing as I'm…
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Should I stay or should I go?
I was considering moving jobs shortly. I've been with my current employer since leaving Uni 10 years ago, and have had no problems with obtaining credit. My main home is coming up for remortgage shortly. Will it be an issue in obtaining credit if I have moved jobs 2 or 3 months beforehand? Thanks in advance
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A little help needed on mortgages!
Hi there, i was wondering if someone might be able to help me. I'm 23, and i've worked for the past two years but not i'm back at university doing a PGCE. I've got a job for September, so i'll be in a permanant position as a primary school teacher (starting on £21,500 salary). Basically, i'm currently living with friends…
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Getting a mortgage looks doubtful - anyone have any suggestions?
Hi there To cut a long story short, been trying to get a mortgage through a broker and not having much success. Tried various lenders, Nationwide (who we had a mortgage with previously) Abbey, C&G and Yorkshire Bank and all have declined us an AIP on the basis we have a low credit score. Our credit is not brilliant, we…
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help please ?? advise on interest only deal.
We are currently paying our mortgage to redstone. We have been out of our deal since last October. Due to previous credit history there are not many lenders out there willing to lend. Last default falls off in September and two small ccjs under 250 satisfied 2007. I asked redstone if we could overpay each month and they…
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Electoral roll (non citizen) + company name query for mortgage
Hi all Hoping someone can offer advice (or hopefully reassurance!) on the 2 questions below - any feedback appreciated... The situation is that I would ideally like to buy somewhere as a FTB, we have been renting for the last 9 yrs and would like to own somewhere finally! 1. Electoral roll - I keep hearing that for a good…
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First-time buyer - mortgage advice
Hi, My partner and I are about to buy for the first time in North London. We have offered 305,000 and have a 15% deposit - therefore are looking at a 85% LTV mortgage over 30 years. The more brokers I talk to and the more I try and look at all the figures, coupled with uncertainty in the economy in general, the more…
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High Mortgage Fees
In February I applied for a mortgage with Alliance and Leicester via a mortgage broker. Everything was approved in principle but has taken until today for the final offer to come through. This was due in equal parts to an inefficient broker and very poor customer service from A&L (lost copies of documents etc). When I…
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Is it worth leaving NR for new lender ?
Hi all, I have 36K outstanding mortgage with Northern Rock, even though the property is worth 250K I got stock with the asset management (bad bank), which I thought was odd, anyway, my fixed term ends in six weeks time, so I was wondering if I should move to another lender, to get away from NR asset management. I will…
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Will We Get a Mortgage ?
Ok. We currently have a 224,000 mortgage. With approx 27k in loans and Credit card. ( No arrears, no probs paying) Thinking about selling up and moving. Problem is we have no equity so therefore no deposit. Was thinking about trying to get a 90% morgage and raising a 10% deposit. Looking to get smaller morgage. Question is…
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Feel like giving up saving for a deposit
Me and my partner are currently saving for a deposit for a house. We have £4000 at the moment and will need to have £13,000 plus money for fees (this would only be a 10% deposit). We spend most of the week at mine and a few days a week at his but we are really feeling down at the moment. We hardly ever get to see each…
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Consent to let given - How easy is to buy again?
Basically, Nationwide have given me a 'permission to let' on my current flat. My current interest only mortgage payment is about £300. The rental value of the flat is £650. I want to purchase a house and move up the 'food chain' as it were. I can probably get a mortgage of £200k and have a 10% deposit - this is assuming i…
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Follow-on rate as stated in original mortgage offer - is it binding?
My 5 year fixed rate mortgage is due to end shortly and I'm looking at my options. In my original mortgage offer it states that at the end of my fixed rate period "the rate will revert to a variable rate which is 0.69% above Bank of England's base rate". In the current environment, that sounds like a pretty good deal - my…
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Overpayments or not?
Hello, I know no- one can tell me THE right answer to this but I don't really have anyone to ask in real life so was interested in your opinions. I am wondering whether to begin to overpay on our mortgage. Some background info: We bought our first house in Nov 09. We are on a 3yr fixed rate of 4.78% repayment mort. and our…
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Relationship end, mortgage advice.
ok i M27 years old she is F30 years old. we have a house in joint names with mortgage, owe 93K house value is about 115K We have 2 children one 3 years old and the other 13 which is step daughter. We are not married. She is in bad debt with letters from debt companys every other day, she had her bank account withdrawn and…
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Shorten Mortgage term to overpay for products that dont allow OP
Hi, I'm looking at re mortgaging as currently I pay about 4% and can probably get a cheaper deal. I've used a broker but wasn't impressed (I may have just got a bad one!) Looking myself there seem to be a few deals at 2% after discount for two years (Discounted from their VR) These products generally don't allow OP during…
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Mortgage Advisor put the wrong dob in ?
my application ! I have applied for a mortgage via homebuy thru the Halifax , now I know very little about the process and stages of this as such but it would appear after the advisor left our house he has applied for a mortgage ? And he has incorrectly put my dob in the application form , I can tell this as the life cover…
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increasing a mortgage
Hi, I recently saw that you could increase your mortgage mid-term. Our bank's website doesn't have much information on it so was wondering if anyone here knew a bit more about it. We've a decent portion of equity in our home and would like to increase our mortgage from £83k to £108k. I don't know the exact value of our…
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Mortgage scam?
Ok. I’ve got a bit of a long and drawn out saga so please bear with me on this… I have a mortgage with Abbey/Santander. I moved to a bigger house 2 years ago and had to borrow additional funds. I already had what they call a “product”, which was due to expire June 2010. If I was to cancel this product and get a new higher…
