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Mortgages & endowments

Archives for September 2010

Mortgage decision: tracker now, fixed later?
I'm trying to help my ex decide on the best mortgage for her. She's FTB, 30% deposit leaving £100k loan needed, can comfortably afford typical monthly repayments and is likely to make overpayments. Obviously it's all a gamble but my gut feeling is that interest rates will stay low for maybe the next 2 years at least before…
desperate for answers - please advise
hiya, will try and be brief but this seems to be quite a complicated issue. my mother died in nov 2009, i inherited her house. unfortunately there is a mortgage on the house equating to approx 30% of the total value. My husband and i have a debt management plan so are unable to get a mortgage. However my husbands brother…
Banks should declare mortgage conditions upfront
I recently posted a message about Norwich & Peterborough shafted me with a tracker buy to let mortgage. However, I think the FSA should regulate all banks to provide their mortgage conditions upfront. So you know BEFORE you pay for a valuation and spend valuable time preparing all the documents to send to them. I don't…
how long for nationwide to make a decision?
heya, our mortgage broker really messed us around.. Its been 3wks and everytime we have asked for an update she has said she cnt get hold of them. I rang them and they said they have been ringing her with no answer! She sent the forms half filled or somethng so they hadnt even credit checkd us! So anyway i told her we are…
Mortgage overpayment decision
I am in a position where for a few months at least, I can make overpayments on my mortgage. Obviously, I know this is a good thing in the long run, but I want to make sure I get the best out of making these additional payments. I have a fixed rate mortgage with 2 components - an interest only component and capital…
Would this be classified a sself cert?
recently changed my business model from being a sole trader to having a ltd company, and made a few other changes rehggards to work undertaken. So i have no accounts for the comoany as yet. Now, will i be classed as self cert, or would my previous 3 years be used as income affordability?:money:
Mortgage protection insurance
At the beginning of this year I was unemployed for several months. So, because I took out mortgage protection cover that covered me no matter what happened to me I tried making a claim to cover my mortgage payments whilst unemployed. However, last year I was employed by a foreign employer out of the country. I never…
Any chance of a mortgage?
I had a house which was repossessed 12 years ago - due to me splitting up with my ex husband and there being negative equity on it. I have since re-married and have been debt free for the past 10 years and am working in a fairly secure job. The house we live in is in my husband's name only, but we are due to remortgage in…
how fast- co/op mortgages or just mortgages in general
Hi. FTB so please be gentle. Just wondered if people who have experience with mortgages, especially if you can give me any clues on the speed of the co-op at the moment could help. Process so far- applied for mortgage Aug 10th. Sent p60 and payslips about a week later (the day they were requested). Sols currently working…
Equity Release On Ex-Council Flat
Long-time follower, but first-time poster here, Can anyone possible help with some advice on Equity Release on an ex-council flat. My 80-year-old widowed Mother-In-Law purchased the property outright in 2002 and lives off the basic state pension. She is now thinking of releasing some equity to help with her quality of life…
FTB advice - How much can I borrow?
I was looking for some advice on a subject at this point I know little about... I am looking to purchase a flat in the summer of 2011 for around 120,000 and I will have at that point 30,000 deposit. I would like to get a 10 year fixed rate mortgage over 25 years but my query is regarding how much I can borrow. I earn a…
What happens if you have a mortgage, things go wrong and you need to let?
Hi, my Mrs and I are thinking of buying but it is tight as if we lost our job then the other could only just cover the mortgage. Were one of us to lose our job, we've been told to just rent it out. How are the mortgage companies with this? If you can't rent it out for equal to the mortgage repayments (e.g. you are £300p/m…
Mortgage after DMP
We have been in our DMP for 18 months. We have a really good tracker mortgage with Birmingham Midshires which at the minute is 0.25% above base rate. In Feb 2011 this finishes and the mortgage changes to 2.25% above base rate. This will still be good so long as the base rate stays below 3% but i worry what will happen…
Reposession
My home got repossessed 2weeks ago and I'm now worried about what will happen next. If the house sells for less than what the mortgage was originally how am I supposed to pay back eg£20,000 on the outstanding amount? I simply cannot afford to pay that amount and don't really want a large debt hanging round my neck when…
Cshed in Endowment, Does it affect Tax Credits?
Please help! We cashed in two Standard Life endowment policies after about 12 years of paying in. The total amounts received are £14,000. We understand that as a standard rate tax payers we will have already paid income tax on the interest as it was accumlated (is this correct?) and therefore the money does not have to be…
Endowments Maturing
HI I have 3 Endowment policies that will mature next year. Our Mortgage was paid off a number of years ago so the monies due to be paid on the policies will be paid directly to me. Does anyone know if I will have to pay income tax on the gains.
Mortgage mums house to raise her money?
Hi all, Thanks in advance for any ideas or info. Mum is 72 and lives in a house with a market value of £180k. She has an interest only mortgage and owes 30k which is due in 8 years. She has not nade provision to pay off the 30k at the end . She is short of money and wishes to raise some money from the house. She does not…
Can you borrow more with an offset mortgage?
Hey, With a straightforward mortgage we would be able to borrow around £170k based on income multiples. We have decided to have an offset mortgage with Woolwich. We are able to offset the mortgage by 100%. On this basis do you think they would lend slightly more? Say £200k. Any thoughts greatly received!
Can I remortgage?
We have an enforcement notice on our conservatory and have to build a new one next year. It's going to cost up to £40k and we don't the money. My question is, what is the best way of financing it?
Equifax/First Direct
As anyone had any dealings with this firm.I applied for a mortgage with First Direct and they use these clowns for the credit report,theve come up with a linked address to me which as nothing to do with me.Ive raised an online dispute about this, does anyone know how long they take to sort this kind of thing out.Ive tried…

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