Mortgages & endowments

Discussion List

• Were they wrongly advised?

  My in laws had an endowment mortgage for around £14,000. They then wanted to borrow an extra £20k to consolidate other debts and approached a brokier for advice. Their only 'requirement' was that it ended at the same time as there existing mortgage which is in line with their retirement. He arranged for them to borrow it…

• First Direct SVR

  Does anyone have experience or views on how often FD vary their variable rate? At the moment, it's 3.69% 1) Since the base rate fell to 0.5%, have FD changed their SVR and if so, how often? 2) Before the credit crunch, how stable was their SVR? 3) Does anyone know what their standard valuation fee is? (Looking to…

• FTB - Mortgage larger than property value

  Hi all, What with first time buyers needing quite a hefty chunk of money for a deposit now, it makes it quite impossible to have anything left over to refurbish the property being purchased. Are there mortgage providers that will allow first time buyers to take out a mortgage that is higher than the property value, to…

• Mortgage Confusment.

  Hello :hello: I am trying to sort out what we owe and figure out everything etc. We bought our house this year (1st time buyers) this is the first experience of mortgages and im just really confused...:o The house was 168,000 and we got a mortgage for 142,800 (plus 999 arrangement) We are not planning in staying here for…

• Are penalties Arrears?

  I had my house repossessed last year by SPML. They told the Court that I was several months in arrears. I didn't challenge the possession order. Shortly after the eviction I took some time to analyse the mortgage statement to see where I had gone wrong. To my surprise I have discovered that nearly all the "arrears" were…

• HSBC Home Buyer Mortgage Variable

  Morning guys, been searching through the forums and impressed with all the helpful advice, I have received a letter today from HSBC as my Mortgage is due for renewal, and I'm unsure of how good it is, just want same basic feedback. Here's the main part of the letter. Under the existing terms you will revert to Home Buyer…

• Mortgage deal coming to a end.

  My fixed rate mortgage is coming to an end this month. I have less than £20,000 left to pay and my current mortgage lender has offered me a deal whereby I go onto a fixed rate of 4.19% for 3 years, with no arrangement fee. If I opt not to go with this, I will remain on the standard variable rate, which is currently 4.99%.…

• Can you secure a mortgage against cash on deposit?

  It may seem as odd question as I have the cash to pay off a mortgage but right now I do not want to. My house is worth less than when I bought it though I have plenty of equity in the property. My income is from tax free sources mainly financial spread betting and sports betting and although my bank (Nat West) has seen a…

• Is it right to fix your mortgage now?

  My daughter has been advised to fix her mortgage as interest rates are on the up and could go up by 2% (this is the advice that has been given). I can't help thinking it is bad advice. With a £600 set up fee and the rate is 0.25% greater than she is currently paying, unless rates go up next week she is starting out in…

• Friends Provident Endowment

  Just out of curiosity I have one of these policys that matures in less then 3 months time ,todays Cash value is £25287 .Will they add a terminal bonus to this figure on maturity which is at present 25%.I know the terminal bonuses are only added to the bonuses from previous years which amount to around 11K so terminal bonus…

• Can first time buyers 'buy to let'?

  Me and my partner have found a lovely house :j (after 5 years of looking -we currently rent together), one we can afford, know the area very well (near parents), size we wanted, perfect for a first bought home together etc. The problem is, we are not ready to move back to the area yet, (at least not for another 2/4 years…

• Pensioners exploitation -advice needed

  Have just discovered today that my 73 year old father in law was given a £66,000 mortgage by Bank of Scotland - to run for 40 years - yes 40 years- until he is 113 years old!!! He needed this to cover already out of control Credit card debts. Is this moral and do people think he has any come back? He has diabetes and has…

• Voluntary Repossession

  Hi, a couple of months ago we had to give up our home. Since becoming ill and having to leave work we could no longer afford the mortgage. We received no help with the interest from the Government. All of the monthly repayments had been made in full since 2002 so we had no arrears. The house was valued at £195,000, but for…

• northern bank and offset mortgages

  I've been searching around tonight and found a couple of deals that sound almost too good to be true so I'm looking for the details of what I must have missed. Both mortgages are provided by northern bank, the first one is a 90% current account mortgage with a permanenet interest rate of 2.99%. The other is a standard…

• The real meaning of LTV

  Until today I thought that LTV meant Loan to Value. Eg: if a property is worth 70k and it is being sold for 57k then the ltv is 84%. In HBOS they advised me that they will only only lend up to 90% of the value or purchase price, whichever is lower. Is this standard across the market? It feels like a bit of a cheat. Thanks.

• Question with Part Repayment Part Interest Mortgage??

  Hi. I am getting a BTL mortgage for £63,000, part repayment part interest, £40,000 interest and £23,000 capital. My question is, is it better to make regular yearly overpayments or is it better just put that money in a bank until the end of the mortgage as I will then have to pay £40,000?? What i'm trying to say is if I…

• News Today - Mortage Offer Concern

  Hi there I am expecting the underwriter at Abbey to finish looking at my change of property application on Monday. When I originally sent through the form, they said they needed extra documentation to confirm my husband's disability benefit payments (because their documentation policy had changed since we first applied in…

• Refund of upfront mortage fees - HSBC

  A fortnight ago I received a formal mortgage offer from HSBC, which I signed and accepted. Three days ago they informed me that they had withdrawn the offer. I told HSBC from the outset that my purchase was a new-build on a Discount Purchase Scheme run by Fulham and Hammersmith Council for first-time buyers, and I gave…

• 95% mortgages for existing mortgage holders?

  We are hoping to sell and buy like for like and we have recently approached our current lender about porting out mortgage to a new property. They have advised me that that is possible, however, I am now part time (full time when our mortgage application was made the first time around) and therefore we will not be able to…

• Help with Godiva Mortgages

  Hi, I'm applying for a mortgage with Godiva. The problem is, they've asked for my current P60, which I appear to have lost :o Is there anything else I could provide in place of this? I have this year's tax code notification and the P45 from my last employer. (They've asked me to provide a payslip as well, which isn't a…