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Mortgages & endowments

Archives for May 2010

First time mortgage on prefab house
Hi, I must confess to be almost entirely ignorant on the mortgage front and I'd love if someone could give me a clue or two! I've recently been looking to buy a property while prices remain low, more to get myself on the property ladder than find my dream home. I've found a lovely 2 bed bungalow with a new fitted kitchen…
I've got a deposit but a low income. How can I get a mortage?
I'm not really sure how to word my query. So here goes... My cousin has inherited 1/3 of the house that she lives in. I'm not sure how much the house is worth but at a guess, for their share I think they are likely to receive approx. £50,000 once the house has been sold. Does anyone have any suggestions at she might be…
Does this offsetting plan make sense?
We were on the Nationwide 2.5% SVR, £60k interest only, £30k repayment with two endowments supposed to fund £90k (currently expecting about £80k when they mature in 12 years). We've now moved to a FD offset tracker (2.49% over BOE) and will be 100% offsetting in a month or so. The plan is to leave it there and continue…
first time mortgage advice please
hi, Im currently saving my deposit to make the big plunge, although it wont be for another 18 months yet with things being the way they are at work at the moment, I'm on around £37,000 a year with accomodation provided so have been saving for the deposit, on budget for £50,000 deposit + £15000 funds for january 2012, have…
Offset Motgage - Quick Query
Here is a newbie question - Lets say I have £100K savings. I also want to take out a £100K mortgage (I still want the £100K savngs accessible in case of dire emergencies). If I put £100K in saving account at 3% interest rate, I get 3% interest less tax. I use this interest to help pay off a £100K repayment mortage. If I…
Nationwide - changes to mortgage fees & charges
Hi all New to the forums here although have been a 'guest' on here for a while but I need to see if anyone can give me some info. I rent my house out and have done for 2 years 8 months and my mortgage has never had any 'buy to let' increases applied to it, until now!! I have received a letter advising of changes to their…
Whats the easiest way to not have a mortgage anymore?
A friend of mine is having real trouble. Her marriage has broken down, significantly, her now ex husband is taking her for a complete mug and she is struggling to keep up the payments. She has over 1k in arrears. Husband is still on the mortgage, she cannot afford for his name to come off at all. At the end of the year her…
Max Mortgage
Hi Currently looking to apply for mortgage and trying to decide best option. Initially this was going to be joint but fianc!e has poor credit with CCJ - wages arrested for a year. Finalised two years ago. Neither of us has any debt right now. So firstly is it bad idea for joint mortgage? Will anyone accept us? I'm on other…
husband not paying mortgage
My husband was charged with assault against me and my daughter in september last year and since then has paid nothing towards any of the bills including the mortgage. There is an injunction in place so he cant contact me or come near the house but in the begining he was contacted and asked to pay by my solicitor and he…
Change from Employed to Funded Student
Hello, I wonder if anyone can offer some advice... We are a couple hoping to buy a flat (first time buyers) in the next 6 (ish) months. At present we are both employed, with a combined annual salary of about £52k (we each earn about the same-half of this). We have a deposit of about 15-20%. We have calculated that this is…
FTB - Advice and thoughts
Hello! This is my first post, so i apologise if im going over covered ground. My situation is this: I am looking to buy a house on the market at £75k. I have a cash deposit of 20% meaning i need a mortgage of aroung 60k give or take. My salary is £16.5k. I have cc debts of 3k. No loans or od at present. I currently live…
Contractor Mortgages
Apologies for raising a question that I know has been asked before, but the mortgage market seems to be onstantly evolving, and so things might have moved on. My circumstances are also a little different to others that I have seen raised. My situation - I have recently moved from a permanent position (same company for over…
Obtaining a mortgage on DLA?
Two years ago I was awarded DLA for an indefinite period. I've read somewhere that people on DLA can still get mortgages. I've been a full-time student for the last two years so had limited income. I'm not currently employed as such due to only finishing my degree a matter of days ago, but I am self-employed. That said, it…
Borrowing against owned property
I own my 2 bed flat in full, i want to take over an existing mortgage with a friend, and want to know if i can borrow from my existing property to do this?...
Mortage paid off - Can i borrow money for other things or only houses ?
Hi All I paid my mortage off couple years back, it is a flexible Nationwide one with no penallty for overpayments, i just used to transfer any extra cash from current a/c into mortage a/c. The mortage is still open and has had £1 in it for last few years in case i need to borrow they said. Can i go in and ask for say £50k…
Has anyone here been referred at AIP stage with Post Office
was it alright in the end, I can only think the reason maybe the number of applications made recently for one thing and another
Funding extension on mortgage?
My wife and I would like to buy a property that we have seen. We are renting at the moment following relocation, but have had mortgages seperately before. Therefore I have been told that we are not "first time buyers". We want to buy the property and extend it immediately. Would lenders lend the extra needed to fund the…
Should I remortgage and apply to port a week later or amend the offer?
Hi I had a remortgage offer from chelsea for a 5 year fixed deal which they have now pulled. they will honour the deal of course through the validity of the offer. Our house was on the market anyway at the time. We have had an offer on our property. We would like to borrow slightly less when we move but I have the…
New property ... new mortgage?
Hi Just exploring options at the moment and was thinking of 'upgrading' to another property, and would like to understand how the process works. If say we have £100K balance to 'close' our existing mortgage and could say get £200K from the sale of our existing property, this would mean we would have £100K to put towards…
Buy to let mortgage...
I am thinking about obtaining a buy to let mortgage. I have seen a property for £250,000. What sort of deposit would I be looking at to obtain this?

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