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hsbc lending query
any info much appreciated our situation is as follows we currently own a property worth 155k of which we owe 14k on our mortgage. the mortgage is a fully flexible IO at 0.85% and we have made overpayments. we are able to draw down 123k We have found a suitable property for 250k and have made an offer which has been…
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banks paying builder ?
We have full planning for a 30000 pound extension and have decided to re-mortgage.I have been informed by my banks mortgage consultant that builders are paid directly by the bank upon full completion of works.She informs me this is how all banks now operate.The builder i am keen to use requires staged payments which i…
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New property & Mortgage advice
Hello All, My wife and I have a dilema! We are in the middle of buying our first house together. With the rumours of interest rates going up, we have a tracker mortgage with the C&G in place ready to be signed. But we are thinking a fixed may be the better option. Just to give you a few more details, we are both in our…
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Welcome advice on having a very large mortgage
...need to re-mortgage in May and thinking about being able to extend lending considerably as part of selection criteria...... Scenario... Pretty secure jobs for wife and I Joint income of £110k About £100k equity 15-20 years + of work left in us! 2 kids - 10 and 13 Current house okay, but a bit small Wondering about going…
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Advice on borrowing more from existing lender
I currently have 8 years left on a 'lifetime tracker' mortgage with the Nationwide. The rate is the Bank of England base +0.39% though there is a 2% 'floor' to the mortgage meaning we pay 2.39% at the moment. I want to borrow an extra 15-20K from them, to be paid off by the time the existing mortgage ends. If I do this,…
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Backward mortgage calculator??
Is there such a thing as a "backward" mortgage calculator - ie I can tell it I would like to spend £X and it tells me approx how much I could borrow? Rather than tell it how much I want to borrow and it tells me how much it will cost.
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Overpayment calc / NU/Aviva
Hi - hope someone can help me here :) I have five years left on my Nationwide mortgage, details as follows * Amount outstanding as at end Dec 2010 - £43,450..of which £35,000 interest only, remainder on repayment. * Monthly payment £492 - (£292 + £200 overpayment) * Current variable rate : 2.5% * Mortgage will finish end…
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Fixed Mortgage Ending - Thinking of Moving in the next year or 2 - Advice
Hi All, Current have a fixed mortgage which will end soon, looking to remortgage. I am planning to looking for a new bigger property in about a year or two. My question is which type of mortgage will be better for me? I would prefer to have a fix so I know exactly how much I am paying but.... If I go for a fixed mortgage ,…
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Self Employed IT Contractor Mortgage's????
Hi All, Looking for a bit of advice. I am currently in the process of looking to purchase my second property. I have been an IT contractor for 3 years but changed from an umbrella company to Ltd about 9 months ago so I do not have a year’s accounts yet. Looking on the net for mortgages I have come across a few brokers for…
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Mortgage Decisions...Shall I fix...
I purchased my brand new house with a brilliant sized garden in 2007 for 250K with a 10% deposit. I initially had a 5.8% fixed rate repayment mortgage for two years. As this finished my rate dropped to 3.99% standard variable at the end of the deal and I was able to pay extra when possible, as we also got a new member of…
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Which morgage to pay off?
I have two small morgages one for £15,000 on a fixed repayment and one £15,000 on interest only.I can pay one off but which one? One costs £143 a month other £30
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Nationwide base rate. Should I go to a fixed rate now?
Hi all, The eternal question I seem to ask myself. I have been on the 2.5% Nationwide base rate for around 18 months. I am starting to feel that perhaps interest rates will go up and wondered if I should fix now. I have just called Nationwide and the best deal they can offer is 3.79% with a £995 fee or 4.19% without a fee.…
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2 year or 3 year fixed mortgage
Decisions decisions. We currently have about £100k and 18 years of our mortgage left. Just trying to work out what to do - we want to get a fixed rate with our existing borrower and wondering whether to go for a 3 year deal @ 4.39% or a 2 year deal @ 3.99% (and then overpay up to 10%). What do people think?
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Another interest rate thread - fixed rates
Sorry guys, another interest rate thread. Just wondering whether when the base rates rises will the fixed rates on offer really go through the roof? When I fixed my deal over 2 years ago, before the rate drop it was fixed at 6.13% for 2 years based on my LTV. Now I am still on the same LTV and the rate is 5.29%, so not…
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Post Office Mortgages
Hi there I am new to MSE.com. I was just wondering if anyone knows how safe a Post Office (Bank of Ireland) mortgage is?
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Mortgage credit searches
Hi, I'm currently in the process of applying for further lending on my mortgage (went through the application on the phone, they sent it out to me & I signed it and sent it back few days ago). However yesterday i got a warning from credit expert about a late payment on my file. (this was a late payment to orange due to…
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Advice for first time buyer
Hi everyone. I'm a first time buyer looking for a bit of advice. I've always just rented in the past and its all a bit daunting. Firstly I'm not even sure if now is a good time to be buying with prices being so high. Its tempting to wait a couple of years in the hope there'll be a slump but the forecasts seem to be for…
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Bit of a complicated 'gift deposit' question. HELP Please
My parents own a 2nd house that they rent to my sister and her partner. They want rid of the house and my sister wishes to buy it. They bought it a few yeras ago for £155k with a 10% (15k deposit). They are willing to let them have the house for what they paid for it (it might be worth 5k more but its about right) My…
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Getting into good financial position for mortgage
Hello, I'm looking for some advice regarding me and my husband's financial position and how we should structure our finances to be able to get a mortgage in the next year or so. We both have substantial debts but have been reducing these significantly in the last couple of years. We are now unsure of whether to continue…
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Interest only mortagage with no endowment - want to move house
All very sensible really but my lender will now want evidence of an investment vehicle to repay the capital part of our mortgage before allowing us to remortgage. We dont have one and have just been paying the mortgage interest for the last few years. How do I go about getting an investment vehicle? Do they still sell new…
