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Mortgages & endowments

Archives for June 2011

SVR Mortgage Rise 07/11
I have received a letter today from Direct Line saying the SVR will be going up to 4%, due to increased funding costs, from tomorrow. Does anyone know the 'funding costs' history behind this? Should I take this as a sign to change mortgage company?
Duff advice from First Direct
We're in the process of changing mortgage provider (from First Direct) and so have to pay a redemption fee. I phoned up to ask them the o/s balance and to confirm the fee we'd have to pay. An adviser quoted me £2k. As I had another query later that day I rang again (and spoke to the same guy). He reiterated the £2k fee. To…
how to reduce debit interest quickly?
how do i reduce my monthly interest quickly or quicker? hoping to get some expert help... here are my facts mortgage loan £60, 000 5 year fix at 3.95 % I pay around £730 monthly but I have found that i am paying around £190 give or take a month on interest. How can I reduce this quickly so i am paying less interest because…
Moving from variable to interest only mortgage with Scottish Widows - help!
Background: I took a 100% proffessional mortgage with Scottish Widows 4 years ago, our fixed rate ran out last year. Once in this period I switched to interest only payment short term to free up some money for our wedding. Our current plan is to move abroad summer 2012, so we need to save money and our biggest outgoing is…
Halifax Mortgage - Update correspondence address details
I acquired a domestic mortgage via Halifax some time ago for a new property my wife and I purchased in Holyhead. We were due to relocate there where I had secured employment and we have family and friends there. There were some initial works required, however before we moved - I lost my job and we had to end up staying in…
Santandar...useless
We had a A and L fixed 5 year which is now at a end ive stayed with Santandar and fixed it for a year. I was told that A and L take payments in advance and Santandar take them in arrears so i would have a "free month". All paperwork was back with Santandar 3 weeks ago heard nothing phones them today spoke to eight…
Mortgaged Offered but lower rate now?
Just been offered a mortgage by accord and out of interest i was casually browsing on there website on mortgage deals. I noticed that the deal we are on now is offered at a slightly lower rate from 4.29% to 4.09%. What are the chances of this being amended? Any advice would be great since we are FTB and every penny would…
Mortgage Trap
Help! We bought our house some 3 years ago with, what we thought at the time, was a very good mortgage product from First Direct (lifetime tracker at +0.35%). We've made some good equity on the property and now want to use that to relocate and buy a new, bigger property, without borrowing any more money. We also need to…
mortgage with little deposit
We own a flat (mortgaged) and would like to buy a second one one. We can afford a repayment for a 200k mortgage even if the interest rate goes up. Will get some income from renting out the first property too. So will have no problem meeting the monthly payment on both properties. But the lenders aren't willing to gives us…
Borrowing against property/remortgage
I am currently looking to raise around 25k. I tried for additional borrowing with my mortgage provider. Value of property is circa 180-200k, and balance is 100k (purchase price was 135k)...so I had the equity but I have a bad credit record thanks to my silent dispute and refusal to pay HBOS (who also own the mortgage…
Advice on Yorkshire Building Society & Scottish Widows Bank
Hi all, I am currently with Natwest (savings and mortgage). The initial term on my current (fixed) mortgage is coming to an end in August. I would like to move to an offset mortgage I have found three banks/BS that offer fixed rate offfsets that are quite appealing:* Scottish Widows Bank - 3.09% - my real cost per moth =…
1st Time Buyer
I wonder whether someone could help me. I have a full-time job earning around £34k however I am on a temporary contract which ends in March 2012. I have always rented in the past but I am now thinking of buying. I could scrape together a deposit of say £11k (some of which would be my savings and some has come from my…
Joint Mortgages
Hi Guys, Me and my girlfriend are currently thinking of getting a house together. She wants to get a joint mortgage so its 'our' property and i'd rather get a single mortgage in my name as it seems safer if we break up. I'm 23 on 25k a year and shes 22 on 20k a year. From some research i've done there are two scenarios…
Buying outright vs. Interest Only Mortgage - Am I overcalculating?
Hi all I've been trying to do the maths on this one, and either I'm overlooking something, or my initial preconceptions that buying outright is more profitable than getting a mortgage, are completely wrong. I've simplified the figures below, a little, and not taken into account various fees (solicitors fees, service…
Mortgage Advice Required
Post Wiped.
purchasing interest in property
hi, i am looking for some advice ...iam currently going through a divorce. we have a house which is in both are names. she has said that she would consider letting me purchase her interest in the property before my youngest daughter is 18 (2 years time) there is about 40k equity in the property ergo 20k purchase . should i…
Equifax completely messed up without our fault
I posted a while ago about a problem we only found out by complete chance, and I wanted to update things and also ask for advice ... Some months ago, we were refused credit for the purchase of two bicycles. Since it was interest-free for 12 months, we mainly wanted this to spread the cost a bit - since that didn't work, we…
Mortgage Valuation Appeal
Having done a search through all the threads I understand everyone feels there property is undervalued however I was looking for some advice in our case. We just came to the end of our current mortgage deal ,we are on a high rate (5.79% SVR) and are looking to change provider as with a new baby we are trying to save as…
Porting a mortgage - what is involved?
Hi all My other half, with whom I have fairly recently moved in, has a property mortgaged in her name, with a fairly long fixed deal in place. I understand the mortgage can be ported. Does anyone know what the process of porting involves, i.e. credit re-checking etc? The reason I ask is that we have talked about moving…
Mortgage Application Timeline
Good morning all Firstly, we received some good news yesterday! We had out mortgage application declined due to incorrect information on my credit report. This has now been ammended and the mortgage company has now accepted our application! My advise on this would be to challenge declined applications as the decision for…

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MSE News

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Mortgages & endowments

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