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Thank God I took a Repayment rather than an Endowment Mortgage!
In 1991 when searching for a mortgage, I recall being given the hard sell on Endowments. No No No I said, but they kept plugging them. Thank Goodness I stuck to my guns. I have never trusted anyone attempting to sell me a financial product ever since! Throughout the Nineties, many policies paid out more than £100,000 to…
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New mortgage at 52
I'm sorry if this has been asked before but I would just like some opinions on insurances. I've made an offer on a house and have been offered a mortgage of 55,000 plus 995.00 booking fees. Mortgage term is 13 years till I'm 65. So the mortgage is 477 per month. It's now been suggested that I also take out Life cover -…
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bankruptcy mortgage chances?
Hi i am a newbie to this site and i was looking for advice on getting a mortgage, I was declared bankrupt in july 2006 and discharged 6 months later, it has now been 4 and a half years and my situation has now improved dramaticaly, i now earn 32k + and have no loans credit cards etc, i bank with barclays and although they…
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Probation and mortgage application
Evening all. I'm in the process of looking at getting a house but have come across a potential stumbling block. I've been in my job a year and a half and have plenty of payslips etc. However, my girlfriend has been in her job for 3 months but her probation period is a year :( We got a DIP from Northern Rock today but our…
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Mortgage Overpayments/What to do!
Hey everyone! Hope some intelligent MSE on here tonight can maybe impart some of their wisdom onto me! Having recently had my LBM in regards to debts, I've put together a 3-4 year money plan which incorporates debt repayments, savings etc etc. So I'm really clued up on what my plans are for debts and savings (interest is…
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Credit card debt and mortgage application
Hello all. We have just had a mortgage offer approved, which is great, but i have a question. We were asked about our cc balance (about £3.5k) and we said we can pay off the balance before we move. Do we have to pay off all the balance? will the mortgage lender check before completion? Its not a deal breaker as we can pay…
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adding student loan to mortgage
hi all saw a mortgage advisor at the bank today who made a suggestion; it was along the lines of adding the remainder of my student loan to the mortgage we are looking to take out. I have about £2k outstanding from my student loan, it is currently paid off monthly at approx £220 / month direct from wages. Would it be worth…
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getting a mortgage
Hi , my husband works away and is paid to come home once a month so the job is normally 7 days a week with along weekend once a month, but as my husbands employers cant guarantee the overtime, the nationwide will only give me a new mortgage of 99 thousand but 4 years ago they gave me a mortgage of 164 thousand wages have…
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Fees to repay mortgage.
I am about to pay off my mortgage with Halifax 3 yrs early. I know there is no early repayment fee but, they want to charge "Deeds release" fee of £50 and "Administration" fee of £175. Can someone tell me if this is is correct? With all the "claiming back" of bank fees etc, just wanted to know if they are allowed to make…
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Very worried about Inflation&Interest rises like 1000s of others with Money Problems
Please can somebody explain when inflation rises that there thinking of increasing the interest rate from 0.5% to a possible 6%, surely this would have a reverse effect as people are struggling with bills, mortgages, rent, debt etc. Like most people in Britain I have had no pay rise in 3 years although everything has gone…
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endowment mortgage shortfall
I get a war disability pension and disability living allowance. I have an endowment mortgage for which I get a housing allowance paid by the DSS. The mortgage term ends in a few weeks. The shortfall will be about £5k, can anyone tell me if I can still claim housing for the extra £5k shortfall lending I will need to borrow,…
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Porting
My house is valued at around 134k and is on the market. Outstanding mortgage is 68k ( Halifax). I am hoping to move to something around the same value or less.....BUT I am currently out of work, what are my chances of getting to move my mortgage.
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changing to an interest free mortgage for 6 months?
hi there, i have been thinking for a while to maybe change my mortgage to interest only for the next 6 months, the reason is that I have a few credit agreements which are cost me the earth monthly and wanted the extra money saved by paying these agreements off, the question is that is there any problems anyone can see…
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Mortgage deals on this site
Be careful not to use the mortgage figures on here as gospel as to whether you can afford a buy to let property. When I input my figures, including the expected rental, I was pleased to think I could afford the property I wanted. However, talking to subsequent financial advisors, I found that my deposit would have to…
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Qualifying for a Mortgage
Friends: I am looking for advice on how to finance a new home as soon as possible. Here is as detailed a description as seems reasonable: -This seems to be a UK-dominated forum. I am a US citizen living in and looking to purchase in the US. If I should go somewhere else, does anyone have advice as to specifically where I…
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5 years @ 6% or get personal loan to bring down LTV therefore mortgage rate?
I came off a fixed mortgage about 18 months ago and have been on Santander SVR 4.24% since. During this time I have over paid every month without fail but the Halifax index that Santander uses has shown my flat drop in value from 309K to 242K. At one point we had not far from 20% equity but now even with over paying about…
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Reclaim Valuation Fee from Halifax?
Hi everyone, Quick question. Halifax said that as my property value on their 'index' was too low, I would need to pay for a valuation with Colleys if I wanted to obtain a decent mortgage deal. Colleys then valued my property at nearly 20% more than what the automated Halifax valuation had, meaning I could thus obtain the…
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Mortgage where one applicant is an IT Contractor
My partner and I have just been declined a mortgage with HSBC at the underwriting stage due to my partner's employment status - he is an IT contractor employed by an Umbrella Company (I am a permanent employee). I was therefore wondering if you could offer any useful advice on obtaining a mortgage where one applicant is an…
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Loss of salary, what to do.
I've been off work for 4 months and my sick pay has now run out. I am returning to work next week on half days, with this though comes half pay, plus pensionable pay for the hours I have not worked. In all I estimate that my salary will be approx £300 down. I would therefore be able to meet 1/3 of the payment but not the…
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Can I use independet Chartered Surveyor for valuation?
This is aimed at brokers or anyone with past experience of Abbey/Santander mortgages: As the lender is refusing to offer a Homebuyers Survey on my new property, can I use an independent Chartered Surveyors (RICS) to do a homebuyers and valuation combined? Their prices seem far cheaper than the standard Abbey prices (£260…
