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Interest-only mortgages crackdown begins
tranfered to an interest only mortgage last year so I can concetrate on getting rid of my CC debt. Will this effect me in the long run? They say that they plan to phase out interest only, do they mean for those that already have one or for those that want one in the future? Really concerned me. any thoughts greatfully…
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Move to better fixed rate
Hi, Not sure if this will be worth it for us but if you have a minute to advise it would be greatly appreciated.. We are struggling badly with our mortgage, but love it here and have pets so can't move back home. We are currently in the following situation.. House bought for £123,995 Left on mortgage to pay £120,990 5 year…
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mortgage guarntee
Hi can anyone help my husband and i have signed an all monies mortgage because he is self employed. Some years later he started a ltd company of which he signed a guarntee for his overdraft. Last year he went bankrupt because of the collapse of the building trade. Bank want to take us to court because we are unable to pay…
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Virgin One Account Mortgage advice please?
Hi all, I'm new to this forum business so i apologise in advance if I'm reposting or posting in the wrong place. I would like to get some opinion on the Virgin One account and whether it is suitable for me as my financial knowledge is limited and I feel there are many people on here who can give good advice. My situation:…
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Is it worth doing?
Hi, I am currently on a 3yr fixed rate with Nationwide with 18 months left. The interest rate is 6.78% and my mortgage balance is around £94000. Is it worth paying the 4% penalty and coming off my fixed rate to go on to the variable rate of 2.5%? Thanks
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Estate agent offering pre-arranged mortgage - good idea?
An agent in Brighton offers pre-arranged mortgages with Natwest which are pre-approved but which are portable (pending valuation of course) and which you don't have to use if you decide you want to get a better rate elsewhere without penalties. Obviously the rate you get might not be the best but he says in a very…
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remortgaging confusion
Hello I am charged with bringing down our monthly outgoings at the moment as we from this month have to manage with a reduced income - not cataclysmic (as my husband is on a very healthy wage) but significant. So I am looking at our fixed outgoings and obviously mortgage is our biggest! - We have 21 yrs to go and the…
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Should I pay lump sum off mortgage
i have just rang are morgage company northen rock, We have 10k in the bank and wanted some infomation about what we shoud do with this. We have a morgage for 94k and that over 35 years ( we are just over 3 years inn). We have been talking about moving in the next 12 months and dont now what to do for the best. staying…
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Proof of Employment for a mortgage?
I am currently employed on a temporary/permanent basis. I am paid through payroll and have wage slips and all the benefits of a permie. However I have a contracted end date in November. It's highly likely I will stay on after that and extend the 'contract'. Would I be able to show a mortgage provider my last three wage…
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Mortgage needed with 50% deposit, and newly self employed?
My friend wants to buy a piece of land for £40,000. She only has £20,000 in savings and the owner won't budge on the price, so she needs a loan or mortgage for £20,000. She has a perfect credit history and currently own a home worth £145,000 in today's market with a £125,000 mortgage. The problem is that she is newly self…
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Can I cancel my Life Assurance?
I took out a 25 year life assurance policy 12 years ago. I am now mortgage free and so no longer need it (have no dependents, and a pension which would pay out in the event of my death in service). The policy was set up by my mortgage adviser at the time - he earns commission on this policy for the whole 25 year term. If I…
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Remortgaging with bad credit
I purchased my property with my ex-partner a few years ago, and am now having it transferred into my sole name. I had considered selling, but have been advised it is now worth 8% less than when I bought it, so need to keep it a bit longer. I have a default for £90 from september, and about 2 years of bad payment history on…
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Will having a loan affect my chances of being accepted for a mortgage?
My fiance and I both have unsecured loans but are currently saving a deposit for our first home together. Neither of us have ever owned property before or been a party to a mortgage. Will the fact that we have these loans affect our chances of getting a mortgage even if there is no problem with our credit ratings/scores,…
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can i get a morgage if i know in two years i will be made redunedent
My question is,.. I know that in two half years, possibly more that my factory will close and make all manufacturing redundent. this has been confirmed. (the closure, not the time frame) the only thing that hasnt is the time frame so i may be there in five years. it has already beeing put back 6 months. i want a morgage,…
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33k salary, can I afford a mortgage?
I wonder if some people with a bit more experience of this mortgage and home ownership lark could give me a bit of advise on my current situation and my affordability? I'm currently earning approximately £33,000-£34,000 a year (before over-time), so on average just over £2,000 a month take home pay. Now I've read on here…
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Can you help with Abbey problem?
I have a very nice term tracker mortgage with Abbey (BBR +0.75%). I have had this for 4 years and want to keep it. The paperwork all says it is portable. I have inherited a quarter share in my fathers house, he passed away in December. In the family we have agreed that my wife and I will buy out my brother and sisters and…
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First Direct Don't Like my Hip
I have been contacted by my solicitor today to confirm that they have received the legal pack to go with the Offer I have received from First Direct. However, it turns out that First Direct are not prepared to accept the Local Search that was completed as part of the HIP that has been prepared on the property I am buying.…
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End of but to let tie in.
I am coming to the end of my 3 year tie in with my buy to let mortgage. Will it automatically drop to the lower interest rate or is it different with buy to let motrgages?
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A shot in the dark!
Hi all... This is my first time here so forgive me if this question has been asked before or if it is deemed to be a 'silly' question. I was wondering if there is any way that a mortgage contract can be transferred to another party (in my case my nephew). I have recently relocated to live with my partner leaving my former…
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Tax allowances on 2nd property mortgage
Hubby and I were both made redundant 10 years ago, and used our pay-outs to buy a small studio flat which we let out. Since then we have managed to pay off our mortgage on our own property and have now put the flat on the market, with a view to moving up to a larger 2nd property, to improve our letting potential/income,…
