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Overpayments on mortgage
Hi, complete newbie here but I've been reading some of the threads on making overpayments on your mortgage. We've got £56.5K remaining on just under 14 years. Currently paying 2.5% with Nationwide. Was thinking about jumping onto a fixed rate deal in case rates start to rise but now we've decided to go the overpayment…
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'Mortgage' from my brother & tax implications.
Hi guys, Apologies if this is the wrong section. I'll give you the brief run down before I get started: (sorry for the lengthy post!) My father passed away about a year and a half ago and left us (my brother(23) and I (21) £150,000 each from his estate (sale of house & pensions). We later discovered another £200,000…
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Can we get another mortgage
Hi We currently have 5 mortgages - 4 BTL (2 X 50% shares and 2 x 100% ours) the total amount is about 345k on properties worth about 450K. We want to buy another property and rent out the one we live in consequently we need about another £110k. Joint salaries around 51K. What do you think our chances are and who should we…
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Lower Rate with Fee Vs Higher Rate without?
Hi I've been on the phone to Nationwide this morning to reserve a decent fixed deal before the inevitable rate rises. Fortunately, I'm just under the 70% LTV line and looking at a 3 or 5 year fix on a mortgage value of c.£113k with 19.5 years to run. They've offered products with and without their £999 arrangement fee…
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selling house to father
Hi all, First post. Me and my wife would like to sell or somehow transfer our house to my father who is buying it as an investment. He is looking to buy the house on a buy to let mortgage. How can we get this done as fast as possible. We also have a mortgage outstanding on the house. is there a way to get this done without…
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Phoenix endowment payout
Does anyone have any idea what this may payout, Phoenix endowment (ex- royal and sun alliance) Basic sum assured £6212 Bonuses to date £4766 to pay off £20,300 mortgage maturity date feb 2012 Have they ceased terminal bonuses?
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£20,000 mortgage on min. wage job?
Hi all, wondering if anyone could advise me on whether i'll be able to get a mortgage of £20,000 on a full time minimum wage job. I want the £20,000 to buy out my step dads share in my mums house (who passed on the rest to me), i therefore have equity in the house of around £110,000. Thanks Nick
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part buy part rent mortgage??
hi all i am buying a part buy part rent flat and i have a normal mortgage from the abby bank which is great i have now got a copy of the mortgage offer which is fine:T but my solicitors is now saying it needs to change into a "part buy part rent mortgage offer" is this right and what is this?
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Second mortgage query
Hi, We have a fantastic boe + 0.19% tracker which is flexible and portable. The problem is it only covers us for 150k which is the amount we originally borrowed a few years back. We need an additional 30k and if we borrow it from them our interest rate will go up to 3%. Is it possible to get a second top up mortgage from a…
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Worth incurring early redemption penalty to pay off mortgage?
Currently have circa £125k outstanding on 4.9% fixed mortgage and circa 3 to go until 4% early redemption charge ceases to become payable. Can overpay 10% pa with no charge. Will have sufficient spare funds soon to pay off mortgage. Would seem to be beneficial to do this and incur early redemption charge rather than delay…
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Help & advice needed for our RIDICULOUS mortgage!
Hi there im new to this site and have visited in desperation for some good advice on how to make a positive step in the right direction with our mortgage. We borrowed £120k in march 2007, interest only,fixed rate 5 years, from Northern Rock to buy a property for £105k and consolodate some debt (stupid i know but i was…
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Santander Mortgage Options (when my fix expires)
Hi everyone ! you need a little background so bear with me. We did a 3 year fixed Santander mortgage which will end August 2011. Sadly it was fixed when the market was all over the shop at 5.99% which has been horrific for us! I also changed jobs and too and took a pay cut for a better work/life balance (as it happens that…
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Should I ditch my fix rate mortgage now?
Hi, this is my first post on here and wondered if anyone could advise me of what to do for the best regarding my mortgage. I am currently on a 3 year fixed rate deal with Yorkshire BS at 5.59%. This is until 31st October this year. I have used the Mortgage calculator and it says I would need a deal of 1.03% to make this…
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Overpay Or Remortgage?
We currently have a £110,000 mortgage on a property valued at £280,000 at 2.19% (variable 1.69% above base rate), we also have approx £50,000 in savings. We are hoping to move in a couple of years, ideally renting out our current house and buying another. However we cannot decide if we should remortgage now at a lowish…
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Mortgage HELP Please
Im 26 single on 21k/annum. Im trying to decide if it would be a sound financial decision to buy my friends 3 bed semi detached house for £150K. I hope to have approx 15K for a deposit but am not sure yet if this would then be enough to get a mortgage? Then my plan would be to live in the large room and rent the other 2…
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Help with understand re-mortgaging
Hi, I'm a newbie here, have been reading the forums for the last 6 months but decided to register today. I would like some advise on re-mortgaging. We are currently with Halifax. Our fixed rate ends in May, and drops down to the 4% variable rate. I don't know much about mortgages to be honest. What I want to know is am I…
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Buying a new house using existing house equity?
I am trying to buy a house after divorce and signing my old house over to my ex-wife and her boyfriend. I have had a family home signed into my name and it is mortgage free and valued at around £ 160,000, there is a family member living in it so cant sell it and simply buy want I want. What are the options to use this…
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Mortgage advice please.......!!!
Hi all, My girlfriend and I are almost ready to buy a new build three bed property. We have agreed a price with the developer and are now going through the process of getting a mortgage. However, we're now starting to get cold feet! We both have relatively good full time jobs and togther earn about £3000 after tax per…
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Payment booklet
I agreed to pay a re-mortgage loan back by payment booklet but now that I have the opportunity to point out the payment discrepancies on a financial statement submitted to the courts 5 years ago via the Ombudsman with payments missing that I KNOW I paid but I dont have the payment booklet anymore. How can I track down…
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Changed circumstances - will they change my % rate?
I have an offset mortgage with a low interest rate (tied to bank base rate) and a fair bit of unused borrowing. The LTV is very low - about 10% of actual borrowing and 20% of available borrowing - as the house has gone up in value so much over the 17 years I have owned it. A few years ago I lost my job and have been…
