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changing to interest only-sorry posted it twice, please delete it
due to debt problem we have problem with paying our mortgage. We want to change it to interest only which could help a lot but bank doesn't want to let us. They keep saying we can not afford one. But surly we can as it will be less then half of what we should pay now. Things don't look well as we already about £2500 behind…
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Is this possible?
Hello Does anybody know if Nationwide would allow us to port our SVR rate to a new house? We have £112,500 left on our current mortgage (Nationwide SVR 2.5%) and a realistic sale price would be between £115k and £120k. So little or no equity in the house at the moment. We have around £7k of savings towards a deposit so…
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Overpayments
Can someone please explain to me in layman terms (sorry complete novice when it comes to mortgages) how effective paying £50 a month of a £100,000 over 22 years would be. We would love to reduce the term of the mortgage to 18 years but worry some months the repayments would be to much for us as only one of us works at the…
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basic mortgage enquiry
i have a joint mortgage with my husband from whom i am seperated. we bought the property for 40,000 and this is the amount owed on the mortgage.( we did have an endownment but it was surrendered for 7,000) the property is now worth 100,000 and we have agreed to split equity equally. I have a new partner and we want to buy…
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Mortgage advice please
I am currently renting and would like some advice on getting on mortgage in the future. Firstly, I admit I'm not great with money and have adverse credit. I am 32 years old in a good secure job for the past 5 years. My basic salary is £37000 plus overtime which is normally about £5000 per year. My adverse credit history…
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Mortgage deal ending
Hi I know noone can really tell me what to to do, I think i am just getting it clear in my head. Background Bought house in 2006 for £100,000 with 5% deposiit so mortgage of £95,000 . 2years at 4.95% 2008 remortgaged but interest rate at 5.95% My deal is ending on june 30th. I have done some seaches and at my curent rates…
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Mortgage Fixed Rate History?
Hi there Am soon needing to remortgage, and I wondered if there is an easy way of finding out what the average fixed rate % has been in the UK over the past 5 years, and the past 10 years? I've tried Google, but to little avail thus far. Any help would be much appreciated. Thank you. :)
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HELP! Endownment £7,200 shortfall
Aviva have just informed me that my endownment will be £7,200 short. Can I seek compensation from them on this. When I took the policy out in 1987 I was told the endownment would pay the £25,000 mortgage and also have a bonus which we could use to go on a cruise. Now I am being told it is £7,200 short. Can anyone advise me…
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Endowment Surrender or Sell??
:)I am looking to remortgage and someone advised me to surrender my current endowment policy. I have got a surrender value today but when I looked for advice, I noticed that there are companies offering to buy the endowment policy from you. Some are stating that they can beat the surrender value being offered. Has anyone…
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Beneficial loan tax?
My husband and i are considering a staff mortgage through his work. I have worked out the tax using a formula I found on this forum and to be honest it doesnt seem worth it. If someone could check my workings that'd be great! 150k loan taxed at 40% would cost 175pcm in tax (staff rate is 0.5%) What I wondered is if I can…
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Chance of getting a mortgage if registered to vote at old address?
I was registered to vote at house A which has just been sold. I've changed my address for bank statements to house B, and am going to register to vote at house B, but rang up the local council and they said that registration is not instant, and I've just missed the deadline, the next 'update' date for the register of…
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This doesn't seem right
Hi all Hope someone can help me with this I had a mortgage with bristol and west which has now been taken over by bank of Ireland,since having it I have had the mortgage arranged for 150k I have only borrowed 25k of that and every statement says I have an available drawdown facility of 125k. When it was Bristol and west I…
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HELP - Remortgage issues
Hi, I'm hoping I could get some advice... I am currently on a 30 year deal with Northern Rock, coming towards the end of a 5 year fixed rate. I'm looking to re-mortgage onto another fixed rate, but my equity is only approx 90%, and I'm being told by Northern Rock's connected company Central Mortgages that I need to get…
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Mortgage advice
Hi I am looking to consolidate my sons debts the facts are I'm 55 have 20k mortgage on a house worthy 170k, the last few months due to helping my son pay stupid monthly bills I missed some payments on car, do you think I would be able to remortgage for 12k or a secured loan or something else! To top this off we have…
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Goodwill payments from mortgage company
Help Please! We have just received a letter from our mortgage company (The Halifax) stating that they are giving us a "goodwill payment" of nearly £700! We are on a standard variable rate and this payment came out of the blue. Are we right to be suspicious about this and are we entitled to more?!! How do we go about…
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Best way to pay off 2 mortgages on property?
İ havent approached my lender yet and was wondering what my theoretical pros and cons are on paying mortgage A 30k and mortgage B 25k off---i will have roughly 25k by July and İ am looking for any advice?--i dont know any fees as yet.
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About to get a mortgage and just have a few questions before I apply.
Hi guys, as the title says we're looking to get a mortgage but I'm wondering if you guys can help me clear a few questions up. First: When you apply for a mortgage they ask if you have any loans. At the moment I have one, and the final repayment is due next week. Now If i went to apply for a mortgage before this payment…
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Mortgage Express
I took out a 5 year interest only buy to let mortgage with Mortgage Express with the intention of selling within the 5 year period. Our circumstances have now changed and I need to keep the property for a few more years..................the mortgae is £300,000 on a property worth a conservative £750,000 and the rental…
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amicabal split
I want to buy out of a co-owned flat in negative equity. What is the normal way to settle fairly. I'm guessing I have to revalue the property and pay off my side of the liability but I believe that this can be off set against by my initial investment??? I'm sure that this is a common occurance. Can someone offer advice?
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Self-employed Mortgage- what figures?
Hi we are trying to get a mortgage to allow us to move house in the not to distant future (not sold where we are yet). We currently have a FD product which we want to port and then borrow a little extra on top of this. So, we called them today to discuss this and how much they could lend us. What should have been a fairly…
