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Help needed with mortgage problem
Hoping someone can give me some advise please. My story! Following my divorce 5 years ago my ex signed house over to me. There was some equity in it at the time. He also left me with a lot of debt. Due to my situation at the time, going from 2 incomes to 1, being left with other debts and my daughter to support I…
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Am I a First Time Buyer??
I bought a boat to live on 3 years ago in order to be able to save up a deposit to eventually buy a house. In order to buy the boat, I took out a cash loan and have since paid this off. The boat was moored on a residential mooring which I paid for on an annual basis, I was registered on the electoral role at the marina. I…
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Cash in endowment?
I have mortgage endowment plans which are valued at £22000 cash in value now and have 2 -3 years before they mature.( They are 40% short of the projected target when taken out 22 years ago). I have a £20,000 bank loan- Should I cash in the endowment and pay off the bank loan which still has 5 years to run? I'd appreciate…
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Save to buy
Just wondered if anyone had any ideas about the new save to buy savings accounts. I know it may seem the wrong section to post this thread, however they are designed for the mortgage market.
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Is it better to overpay mortgage or pay off debt
I will be moving soon. My mortgage payments will be roughly the same as they are now but I will have no maintenance charge to pay (£100 a month) and my council tax will also be about £50 cheaper. I did have debts of £30,000 but will be able to clear half off these with the proceeds from the sale of my flat. I am worried…
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85/15% scheme for new builds
Hi we are first time buyers looking at properties but we only have 5% deposit. Builders want us to use 85:15 scheme but we can't find much info about it and are a bit wary. Is this better than a 95% mortgage? Please help
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mortgage overpayments
hello i am currently in the early stages of a 2 year tracker mortgage that is costing me £475 a month.The overall mortgage is for 35 years.The deal allows me to make regular overpayments. Currently i can afford to pay maybe an extra £100 a month but i am wondering if this sum would come off the actual mortgage amount or…
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Mortgage with conditions
I have now received a mortgage offer. One of the conditions is that it is my responsibility to make sure loans etc are cleared prior to completion. How is this checked?
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Santander! Hold out, switch or do nothing?
Hi am new to the forums but was hoping for some claification/advice on a few things. My 2 year fixed rate at 3.89% is due to run out at the end of September Alliance&Leicester mortgate taken over by Santander. i called yesterday to see what was available in new deals and was given the following options 1. 5 year fixed at…
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Mortgage for 1/3 of a house
Hi Everyone, Thank you in advance for anyone taking the time to read this :money: I'll try and keep it brief! Heres the situation: 1) Parents divorce and 1 gets 2/3 of house and the other 1/3. 2) it's an amicable divorce and for a while they continue to live together while the house is for sale. However the house doesnt…
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Idiot with bad credit looking for advice
I've always been terrible with money and, as such, have a very poor credit score. I'm 33 and my girlfriend and I have decided the time has finally come to stop renting and find a place of our own. She has a very good credit rating: as she's not an idiot at all. Her parents have kindly offered to give us £35k towards a…
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First time buyer advice needed pls
Hi everyone Wondered if I could get some advice on a FTB mortgage application. My partner is employed and earns £32k, whilst I've been self employed for the past year. We've been saving for years for a deposit, have no debt and 'perfect' credit histories, but I'm a bit confused about how much we may be able to borrow. With…
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Fixed Interest Rate Comparison Question
Can the way lenders calculate interest payments have a bearing on how much you actually pay in interest? E.g. if say two lenders quote a 5 year deal at 3.57%, will you know that the amount of interest you would have to pay each lender would be exactly the same, or can the way each lender does the interest calculation mean…
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Anyone Done their own Conveyancing?
Has anyone here tried doing their own conveyancing? If so, how did it go? Would you do it again? Has anyone else got any comments on how difficult doing your own conveyancing is? Thanks
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Mortgage Deal Ending
Hi, My current mortgage deal ends at the end of May 2011. I am on a fixed rate of 7.10%. My rate drops to 2.44% + the Bank of England base rate which is 0.5% at the moment. So my mortgage is going to drop. My house was valued at 170,000 3 years ago and I didn't have a deposit at the time so I took out a 97% mortgage. I…
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Mortgage fraud? Broker using incorrect details on application
Background is that I'm living overseas and looking to get a buy to let property in UK. Had an offer accepted and gently pushed to use the agent's in-house broker. I explained the overseas status and the broker said it would be no problem. During the application process he used my UK correspondence address (in-laws) and…
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How much to come out of Fixed Rate deal?
Hello everyone, I am currently on a 5 year fixed rate mortgage with Nationwide, at 6.58%. My mortgage is currently £118k with the house value of £130k and I know I am paying over the odds at £817 per month. A couple of questions: 1 - How much would it cost me to come out of the deal, I think the ERC is 5%? 2 - Could I then…
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85% LTV for I/O?
Hi, could anyone recommend an 85% interest only product, ideally with the effective rate below 5.5% - either BTL or not? Thanks.
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Conversion from main residence to buy-to-let (BTL)
Hi, just curious, why is it that the lenders don't like finding out that the property is now let as opposed to being the main residence? Is it absolutely necessary to inform the lender? In genuine circumstances, if a person is relocated overseas and wants to let the property, would a remortgage be essential? Many thanks.
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Re mortgage would like new house can you help me :)
Hello, We are looking to move to a bigger house to give our twin boys more leg room :) but we are not quite sure how it works We would like to know what we could borrow. Any ideas?? We own a house valued last year at £145,000. Currently have 2 Mortgages 1- £45,000 16yrs remaining & the other £15,000 15 years remaining. Our…
