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Is lender trying to get me to move off low rate tracker for more expensive deal????
I have a low rate tracker with A&L for the rest of the term on my mortgage (£155k). It is portable & I wish to port it to a new property with a new mortgage for an additional £35k. I have 15% deposit. I have a new mortgage lined up on my existing property which will redeem the A&L mortgage. I am renting out the existing…
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First Time Buyer in Scotland
We are currently looking for a mortgage to buy our first house in Scotland. We have a 10% deposit and the best rates we can see at this level are 5.99% for a 5 year fix with the Post Office and 4.49% with the HSBC lifetime tracker. I fancy the Tracker but my girlfriend wants the security of a fix. I'm not sure how the…
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re-mortgage pickling my head :)
Hi new here and looking to see if anyone can help me unravel this remortgage conundrum. Currently I am on 4.0% SVR. I have 2 options both of which are 2 year tracker deals; 1. Staying with current lender Mortgage £50k over 14yrs Add. borrowing £15k over 10yrs 2.49% above base rate - fee £199.00 £510.00/mth (363/mortgage,…
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Portability of Woolwich Offset Portable Mortgage
Hi, I have a supposedly portable Barclays/Woolwich Offset Mortgage that I want to port the mortgage onto another house that I already own, which I bought quickly to secure a bargain using funds drawn down from the Offset Mortgage in question. However, I've been told by Woolwich that I can't port onto this new house because…
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Desperate! URGENT HELP NEEDED!! PLEASE!!!
Sorry for the desperate tone, but that is EXACTLY what I am. Situation: 3 years ago, asked London and Country to arrange mortgage for us. I am in the army and live in married quarters. We wanted to buy a house, and do it up over a few years ready to move in. We specifically stated that we would not live in the house and it…
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Mortgage Advice - Wanting to move house
Hi, My partner and I have been living together in a 2 bed semi which we took a 100% mortgage out for £130,000 three years ago. Since then we have had to baby boys, so space is at a premium now hence the move. Our current balance on the mortgage is 126,000 which hopefully the house could sell for as the neighbours sold for…
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Interest only mortgages for over older people
Hi, I'm wondering if anyone has experience of interest only mortgages for over 60's. I am 58 and my husband is 61. Our current mortgage is up in 4 years and we will not have the funds to repay it. We will eventually downsize but don't really want to do that just yet if we can help it. My husband is self employed and is…
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refused mortgage because of error in credit report.
I'm new to this so please forgive any gaffs or errors of protocol because I would appreciate some advice.... I have just been refused a mortgage. On the advice of a broker I obtained my credit report. The only issue is a record of late payments to Vodaphone over the past 6 months. I've been with Vodaphone 10 years, & pay…
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Shared Ownership Mortgages
Hi There is a Shared Ownership house that I have applied for and am researching the mortgages available for these. The property I am looking at is a new build and I want to buy 75% share - with 60% coming from mortgage, and 15% would be my deposit. Now, with a 60% LTV, is it ok to expect that I can get a reasonably good…
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repossession
Hi all. Can someone please tell me if you're legally bound to notify a mortgage company that you're vacating a property on the date of a repo court order. My brother's property was reposessed last Sept and so he moved out on the day before the court order said. I asked where to send the keys but they never got back to me,…
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First time buyer mortgage issues. please help?
I am looking for some help or advice with regards to getting a firsttime buyer mortgage. My situation is that I am a first time buyer with a credit score of 999 with experian and have an income 25200.00 a year. The property I have made an offer on is 77,000 and I have 10% deposit. I have been told by 3 banks that in…
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Selling A House In Negative Equity - Help!
Hi, I wonder if somebody could help me. I have a mortgage with Northern Rock on my house which is in negative equity by around £25,000. I am in a situation now where I want to sell the house but not immediately buy somewhere else. Therefore am I allowed to do this, and keep paying the mortgage company the extra that I owe…
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When is a Mortgage Provider not a Mortgage Provider??
I have an offset mortgage with Intelligent Finance, taken out in 2008 (no lifetime tracker unfortunately). IF are part of HBOS and last year mortgage holders were notified IF would no longer be doing mortgages and at the end of any deal, I could transfer to any mortgage offered by Scottish Widows with no penalties or…
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Should we take a payment holiday?
Hi, I'm a newbie, well been lurking for years but never seemed to be able to post for some reason so I've set up a new profile and seems to be working. We bought our house 2 1/2 years ago and have £140k mortgage fixed for 5 years with Nationwide. The repayments are approx £960 per month. The property is worth around 280k.…
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Buying a shared family home?
Hi some tips and advice? I own am one of 6 owners of a inherited family home...roughly the valuation comes in at between 240-260k. I currently living there and aim to one day buy it if possible, I am looking at options at buying a share of some of my siblings possibly more if possible any tips on the best ways to go about…
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Mortgage, maintenance & Divorce
Hi, I wonder if anybody can help? I have recently found out that my wife has cheated on me, and this along with other factors has split us up. She has moved out with my two year old son and is living at her parents. Meanwhile I am remaining in the marital home and paying all the bills whilst it is on the market. As I will…
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Mid-term Endowments versis offsetting?
Question for you all... I have an offset mortgage (Base + 0.95%) of £157k Total offset cash (some in ISAs) of £44k Effective mortgage therefore £113k I also have 2 endowments from a previous mortgage (targetted to pay out £84k, but falling short - surprise, surprise) which also provide life cover. These are: L&G currently…
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Tax Implications of a gifted Deposit...
Hi, My dad who is generously gifting my gf and I a deposit for the house asked if there are any tax implications on doing so?! All I can would be inheritance tax if he passed away. Is it just this or are there other areas to consider? Thanks in advance!
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Life insurance and mortgage payment insurance condition
Hi, We have an AIP but have now been asked to fill out sections which refer to life insurance and mortgage payment insurance. Can these be a condition of the obtaining the mortgage? The lender keeps coming back with new things, its dragging on. Im find it very wearing, paying for valuations, demands for further reports to…
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Fixed rate mortagage overpayment
To all you Financial Whizzkids, I have a £173k 10yr fixed rate mortgage (4.99%) which allows a 10% overpayment a year. I have £10k saved in a fixed rate ISA currently paying only 3%. The mortgage is split at £43k on a repayment basis & £130k on interest only. Endowment policies are projecting a £30k shortfall on mortgage…
