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interest only mortgage time bomb
Would anyone know if, and how my parents could extend the repayment terms on their mortgage as the property value has fallen and the bank is looking to know how the capital will be repaid at the end of the term in february 2013? A five year increase should be enough but they will be 63 and 65 years old by then so I don't…
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Mortgage & Personal Loan
Is it possible to get mortgage whilst having a personal loan? Thanks
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Mortgage Payments after Death
Two brothers (neither married and no kids) buy a property and equally pay the mortgage payments (£275K mortgage on £425k property). Both mum and dad are still alive and kicking. One of the brothers dies without a will and without any life insurance. What happens to the house and the mortgage payments in this situation?
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2 Year Term Mortgages??
Hi - I'm looking to reduce the term of my mortgage to 2 years so I'm looking for a new provider who offers mortgages for a term as low as 2 years. The only one I can find so far is First Direct - just wondered does anybody know of any other providers who offer a 2 year term mortgage? Thanks
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Nationwide BMR
Hello I am currently on Nationwide's BMR (2.49% at moment i think). I want to move house and borrow more. Does anyone know if i would be able to stay on their BMR or they would force me to switch to another rate? Thanks...
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Interest only mortagage - interest more than repayments
My understanding of an interest only mortgage was that any interest was negated by your repayments - ie amount owed never changes unless you pay more than your interest only repayments. So my question is - Is it correct that my total owed from last year has actually increased - even though all interest only repayments have…
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Mortgage payment taken days before it is due!
Since Jan I have been watching my mortgage payments online. What I have noticed is that every time the first of the month is on a Monday or there is a bank holiday, the payment gets taken on the Saturday before but often isn't credited into the account until the second of the month(usually a Tuesday). This pattern happened…
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Another ftb with questions...
Hi, I'm after some advice on housebuying issues... Myself and my fiance have had an offer excepted on a house at £112k. We're going to see the mortgage advisor tomorrow and apply for the mortgage, we're on a combined salary of just over £34k. We've got a deposit of £15k, although we could stretch to 15% at a push- just…
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Should I fix my mortgage whilst I sell my house?
Hi, I hope someone can give some advice. I currently have a Santendar mortgage at the SVR rate of 4.2 %. My original fixed term ended last August. I was happy with the SVR rate so have stayed with it, plus I knew I would be selling my flat this year so wanted to take out a new mortgage deal with my gf when I move. My flat…
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Becoming A Landlord.....Help!
Hi Guys, i have about 25k in my residential property at the moment and i found i am allowed by my mortgage company to let this property out for a small admin cost of £100. my problem is i cant raise the funds for a deposit for another residential property for us to live, my current provider no longer lends. does anyone…
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new ltd company and first time buyer
My husband has a ltd company as a hgv driver. When we go for a mortgage (not a btl we have changed our minds) will they want his pay checks or accounts?
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Repayment mortgage - interest loaded early on?
After 9 years of paying off a £95K repayment mortgage I still owe £72K. Is it correct to presume that i've been paying off mostly interest over the last 9 years? I have effectively paid off just £23K of the capital. Proportionally, I should have paid off £34K. Am I also correct in presuming that switching to another…
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Increasing existing mortgage v new mortgage.
My mother and I bought a flat in 2004. She bought her half with savings and I bought the rest with a mortgage. She now needs her savings back to buy another flat so I need to buy her share of the flat. My question is whether I should increase my existing mortgage (3.99% fixed) to borrow more (approx £70,000) or whether I…
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Overpaying Santander Mortgage
We have recently bought a house, and the mortgage is a 2 year fix from Santander with a 70% LTV. It has always been our intention to overpay the mortgage, and it was sold to us on this basis. We took out the mortgage through a broker. We had planned to set up a standing order to overpay every month. However, we have not…
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is mortgage protection and life insurance the same thi
we are awaiting a moving date and have the mortgage offer, the mortgage advisor said we must have both of the above. does it mean if one of us loses a job, or gets injured or cannot work or dies all the bills and mortgage would be paid off? do i really need both? said i need buildings and contents too all on top of monthly…
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Mortgage to buy High Rise flat
Hi. I'm looking to buy ex-local authority flat located on the top floor of 10 storey high rise building. My broker is struggling with finding a lender who will lend on such a property, please let me know if there are any? Many thanks
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Deposit for first time buyer
Hi Can someone give me some advise on how much deposit is needed for a house worth £165000. atm i have no out going comitments and earn £30k per year. I have £9k saved so far but fear i will need £30k as a deposit. any information on this would be great. many thanks Fil
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Complicated Mortgage Situation
Hi all, We are Sale Agreed to buy a house but have some complications which I'm worried will affect our chances of getting a mortgage. * We have a house rented out, getting £500 a month rent and paying £350 to the mortgage on it (£120,000). We lived here for 8 years previously. * We've since been living in a mobile home…
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Endowment Policy (not tied to mortgage)
When I was born, my parents set up an endowment policy which matured when I turned 21. Right up until this age we were all under the impression that the amount available on my 21st birthday would be a minimum of £25K and as much as £35K (we have a letter from the company to this effect). As it turns out, I received about…
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Equity Transfer Question
Basicly i have a mortgage with a friend the fix term is ending in a couple months. We are in -ve equity The house is valued at £120k and the mortgage balance is £130k. My friend would like to move and end his comminment to the mortgage and the property and has suggested an equity transfer with my girlfriend wich my lender…
