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BoE rate rise coming?
With the news machine being fed a constant stream of inflation/interest rate content, it would seem not a case of 'if' but 'when' there will be a rate rise. So when's the time to start making enquiries about a new (fixed rate) mortgage deal? What and where are the best deals around? And are fixed rates likely to increase…
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Mortgage Payment Calculations
Hi, I am trying to put together a spreadsheet to compare mortgage payments, rates and how much will be paid off of the loan after 5 years. However, working out a loan on a 30 year term I seem to end up overpaying by quite a lot after year 24... I'm obviously doing something wrong in my calculation, can anybody help explain…
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Mortgage confusion
Ladies/Gents I am a First time buyer and am sooooo confused with mortgages....So many options..so many pitfalls. I have found a property for which I have an offer accepted for a LTV of 70%. The best mortgage so far I have found is the HSBC Lifetime Tracker with a rate of 2.49%..It tracks the Bank of England base rate plus…
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Build to let mortgage recommendations
Hi We paid off our our mortgage on our main property a few years ago now. We are building another house next to our existing home and can afford to finance most but not all of the build costs so we'll need to borrow up to £100K. On completion we intend to rent the new house although we may move there in a few years and…
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Shared Appreciation Mortgage
Sold between 1996 and 1998 this type of Mortgage was given out to home owners who wanted to release some of their equity - today the paypack for using this service is costing the client 400% over what they borrowed - does anyone have any experience or aware of any challenges against the banks against this clear theft?…
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moving mortgage?? what happens?
I am thinking of downsizing to a smaller house to save money on the mortgage until I can get a better deal. I have a 90% mortgage at the moment. We paid 100k, mortgage 90 +fees, and now owe about 89k. The deposit was vendor gifted. If I buy a house for say, 65k, and move my mortgage over, what happens? The mortgage is…
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Flexible Mortgage allowing Large Over Payments?
Dear All I welcome any advice on our situation. Thanks; We are about to purchase a new property and will need a mortgage of approximately £200k for a term of 10 years. We are also in the fortunate position of soon realising an inheritance of significant amount in maybe 6 months to a year’s time once the inheritance…
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Mortgage for pensioners
My parents may need to get money out of their flat to fund care support. Can anyone tell me about mortgages for over 75's, the pros and cons please. They have a good pension to fund the mortgage but I want to be sure it's a sensible option. Also what kind of interest rate would the lender currently be looking for - I can't…
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Dilemma
After 24 years in the same house, and having paid off my mortgage some time ago, I am moving to a new town. I'll need to buy a new house, and mine is on the market. I don't want to move house twice, so I am thinking of buying the new house before selling the old if necessary. I have enough cash for a 20-25% deposit on the…
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Mortgage Thicko... pls help me
Hi guys, need a bit of help regarding my current situation with my mortgage. Here goes: When i first got my mortgage i was working full time and had an interest only mortgage. After a while, I went on to a repayment mortgage, then I came out of work and I am now a full time student. I have got myself in a bit of a pickle…
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Vendor gifted deposit...
Does a vendor gifted deposit effect anything...? We had one 2 years ago when we bought this house, it was only £8k and we could only get a mortgage paying 7.8% which is bad I know but we really wanted to get on the ladder. I have read another post which said because they bought with a vendor gifted deposit the house…
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help!!!!!
I am really really stuck and need some advice. Hubby and I bought our house in March 2009 for 100,000. We had a 10% vendor gifted deposit (which I know no longer exist now lol) and added the usual fees to the mortgage. So basically we had a mortgage for 90k plus the arrangement fees which I think were 1k. It's a 5 yr fixed…
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ERC-Stupid Question?
This may be a stupid question and apologies if it is. I'm having a little look around at fixed rate deals at the moment as I expect interest rates to start increasing soon. I currently have a mortgage with Santander and I am tied in to a 2 year fixed rate of 3.99% deal until May 2012. To come out of this early will cost me…
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first direct have removed all 65% LTV products
interesting times...
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Can I afford two properties?
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Best multiple vs.Salary - First Time Buyers
Hi All, My own bank - HSBC seems to have the best rate for a 10% deposit mortgage - I may be wrong though. Yet it only offers 3.5 x my salary. Has anyone else been offered better multiples? if so by whom? Thanks, James
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First Direct pulling 5 year fix??
Just spoke to FD this morning applying for a 5 year fix at 3.89%. Had a little bit of a battle to get it as the chap said 'they were no longer offering this product' as their reserves they set aside had all gone. Rate is still showing on their web site though so suggest if you are after this deal don't hang about!!
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Help with this minefield please.
I am currently at year 12 of a 25 year Mortgage, interest only with Nationwide. The house is worth £140,000, mortgage is for £43,750. I took out the mortgage with my ex (who I am now on good terms with) but we seperated pretty soon after this and I was left to take over the mortgage on my own. He has never contributed and…
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Lump Sum Overpayement - Is it the right thing to do?
Hello All, First post, so please be gentle... We have a mortgage with first direct, it is their tracker product which tracks 1.89% above the base rate. The mortgage balance is currently approximately £140k. We have approximately £5K that we have saved (above and beyond our usual 'safety-net' savings) and we are trying to…
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is there a mortgage calculator
that works out how much you would pay off a 25yr loan over say, the next two or three years. i have found ones that tell me the monthly payment, but if interest is calculated daily, with each monthly payment, the amount will reduce further. so, in effect, paying 500 capital in first month, may mean paying 503 capital the…
