-
Will we EVER have a way out?
We bought a 3 bed semi in 2007 at peak of market here in NI! Paid £179,000 with 100% mortgage with ulster bank. Last June 2009 the 2yr fixed rate ended and we were offered another 2yr fixed at 3.99%. I was v.surprised at this due our negative equity. We paid another few thousand off last Oct after our wedding and statement…
-
Declaring 'gift' for deposit - hidden costs??
Hi I am buying a flat for £190,000 with a £150,000 mortgage. The deposit is made up of £20,000 from savings (£10k from me, £10k from my partner) and the other £20,000 will be a gift from our parents savings (again £10k from each). My solicitor has said that I will need statutory declarations drawn up at a cost of £200…
-
please help this FTB
I am first time buyer , applied for mortgage to Abbey. But they are taking hell lot of time, already 8 weeks and still no hope for rapid decision. I spoke to mortgage advisor and he said there aren't other lenders willing to borrow me mortgage. I am planning to buy one flat which is ex-council and there are 8 floors in the…
-
Mortgage Selft Employed + Bad Credit
Hi, I was wondering if anyone could point me in the right direction of a good company : I am selft employed , but have good accounts , but I defaulted on 2 credit cards 2 years ago ( both have been satisfied ) . Everyone keeps giving me differnet advice but need some sound advie from a company that deals with this…
-
About to pay off mortgage - want to put deeds in one name
Hi, Ive a mortgage with Abbey that I want to pay off soon. For technical reasons (ex Local authority), I had to have mums name on mortgage; although she never lived at property or paid any mortgage. Query is whether to put property into my name BEFORE paying off mortgage or after. Would it make any difference? Think i pay…
-
Is now the time for a fixed rate
Hi Guys I currently have a mortgage with the Abbey and am paying in twice the minimum amount per month so to reduce my mortgage term(by my own choice). Bought the house 3 years ago with a 25year deal and because I have been increasing my monthly payment the loan period is now less than 10 years. My question is, is now the…
-
let to buy concerns
Hi, we need to move house but do not want to sell our current home (I may have to move back and we purchased first house in Oct 07 so likely loose a chunk of money) and would like to ideally buy a cheap second property. I am trying to figure out whether this makes financial sense... Our mortgage is fixed for 10 years and…
-
Paying off my mortgage query
I am about to pay off my mortgage, and rang my solicitor to ask him about holding the deeds for me and he said I should seek independent financial advice before paying off the mortgage in full. He was quite insistent about this and I was wondering why? I just want to to be debt-free and maybe release some equity at a later…
-
fixed rate...just a little question
Firstly, apologies for posting what may well be a daft little question...but it is niggling at me so I figure I might as well ask away to see what you savvy moneysavers think (I think I already know the answer.....but I'd love to be wrong!). We remortgaged our home in 2005 - to try to save money really, and because we'd…
-
mortgage bad advice
hi can any one help 5 years ago we went to mann and co to buy a house we used there mortgage advisor we was bit naive any way we basically had 30 thousand pound to put down on 175 thousand mortgage we was told by the advisor that we could only get an offer from gmac which we went with they had a 12 thousand pound…
-
Help getting a mortgage
Hi, Im wondering if anybody can offer any assistance?? Anyway, both myself and my partner are 24 and both have bad credit. I am currently paying my debt through a debt management plan which has been going on for over a year now, i have never missed a payment and have increased my payments to them to get rid of the debt…
-
Mis-Sold Pension
When I as much younger, on the 6th April 1992 I was sold a Pension believing that my monthly payment would be invested and that I could either use the funds to retire when I was 50 or withdraw the funds early should I so desire. I questioned this many years ago and was told "No - You cannot withdraw the funds". I…
-
Payment Holiday Options
Hi, This is my first post. It is very possible that I may be going to prison for 18months or so in the not too distant future. I have no debts other that a 130k mortgage with the Nationwide, which I am currently paying of in a 5 year fixed 5% repayment only scheme,. This is due to end in 20 months time. What I would like…
-
Best company for Mortgage Life Insurance
Sorry if I've posted in the wrong forum, didn't know if it should be here or under insurance? Basically I need to take out mortgage Life insurance with critical illness cover, decreasing term. It's the insurance to cover a repayment figure on our mortgage and not life insurance. After doing a search, it's a minefield out…
-
Home Information Packs (HIPS) suspended
Home Information Packs suspended. In my view a good thing but what do you think ? http://www.thisismoney.co.uk/mortgages-and-homes/article.html?in_article_id=504859&in_page_id=8&ct=5
-
Can we rent current property and purchase new property?
Good Morning, I am new to this website and was hoping someone could give me some advise. We are currently trying to sell our house after finishing refurbishments. However I would very much like to rent the property out as I have been given figures of around £1100 to £1200 pcm. We have found another property which we want…
-
RBS mortgage decline and no reason why!!
Hi all, I was hoping that someone might be able to help me. I recently applied for a mortgage with RBS over the telephone and was advised that, after doing a full credit check, I had passed and that my application was successful. I then received some paperwork in the post which I needed to check and return confirming all…
-
Releasing equity can anyone help please
Please can anyone suggest ways to deal with my situation I have a house which is worth £285K and the outstanding balanced is £143K. I have gone to my exsiting mortgage company this morning to try to release £25K as my circumtances have changed completely since taking the mortgage out. They have refused the £25K release as…
-
Mortgage Application is in - can I use my credit card again?
Hi all, This'll sound like a bit of a stupid question, but now that I've had my mortgage initial application agreed, and the credit scoring done, will I be ok to put an application for a new credit card in, without it messing up my mortgage application. I've got a couple of things I need to pay for (flights/solicitors…
-
Nationwide affordability criteria changes
Has anyone experienced this? House is up for sale - obtained a mortgage promise from Nationwide at end of Jan 2010 for £142k valid for 3 months. Got buyer for our house and found one we wanted. Put in application about a week before mortgage promise expired but was told that Nationwide have now changed their affordability…
