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Sub prime mortgage!
We bought our house around 4 yrs ago with the Right to Buy scheme being council tenants. A financial advisor came to our home and found us a mortgage with a sub prime company. I didnt think anything of it at the time as i had a CCJ of £97. My partners credit rating was very high. All the paperwork was then done by the…
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Vendor Gifted Deposits
Hi All, am very new to mortgages and went to see a mortgage broker yesterday. I am looking at buying a house at around 83,000 and have about 8% of that in saving at present. The mortgage advisor suggested that we maybe interested in going via the Halifax and going for a Vendor Gifted Deposit. After he went through it all…
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Help! negative Equity
I am currently with Nram and have my mortgage as an unsecured loan and then the mortgage part which adds up to £127,000. The house is worth approx £115,000. I want to move the whole amount but I am finding it impossible to re-mortgage. I could just move the mortgage part but this would send the interest rate on the…
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The Mortgage Works - anybody dealt with them?
I have applid for a mortgage through a broker who is using the mortgage works, my question is has anybody used them before? if so what were they like? I submitted my application about 3 weeks ago and have been asked to provide wage slips, bank statements etc which I have done, they are now waiting on a HR ( home report)…
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Low Remortgage Valuation
Hi I recently applied for a remortgage. A surveyor was instructed by the lender who came to look at the property. He stayed no more than five minutes. In my development only two flats have been put on the market / sold in the past two years, mine in 2009 for £140,000 (at the bottom of the price crash) and the one directly…
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Interest Only v Repayment v Overpayments
Hi, I recently saw an (apparent) IFA complaining in an online forum that it has become more difficult to get an interest only mortgage these days. He went on to say that if you look at the cost of an interest only mortage with overpayments compared to a repayment mortgage, the former is much cheaper overall for the same…
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take off mortgage?
Hi, About 4 1/2years ago my brother bought his prperty in my name as I was earning more then him and could get the place he wanted. He paid for the deposit and makes the monthly payments through his account (The mortgage broker confirmed all this at the time). He is eager to get the mortgage on his name, I am very eager to…
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Mortgage in 2 parts - help
Hello, We currently have a 2 part mortgage with Halifax which we got when my husband & I got together, I ported my existing mortgage and there is an additional part for when we bought the house together. We didn't really realise the implications at the time & we got the deal when rates were sky high. Based on the below…
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Pay off 6.2% fixed or 2.5% variable?
I have four different sub accounts to my mortgage. Three of those parts are now 2.5% variable whilst the fourth is still on a 6.2% fixed until July 2012. I am able to make regular monthly overpayments so my question is this. Do I pay off the higher rate first, spread the overpayments across all four accounts or only pay…
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Nationwide ftd ending
Hi had a leter from nationwide informing me that my 2 year FTD ends 31 Aug 2011. If the mortgage was taken out before 29 Aug 2009 I would go on there BMR if later thrn SVR. A chap on the phone said I would go ontheit SVR , but looking at my records my first payment was 15th Sept 2009, so surely this mortgage would have…
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Should I cash in my Endowment Assurance Policy
I have an Endowment Assurance(Unit Linked)policy with AXA that has 20months left before it reaches 25yrs. I have been told that I will recieve a guaranteed £14606.12, but could surrender it now for £20700.36. I have been told that policies make the most money in the final year, so is it unwise to cash it in? Is it possible…
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Overpayments or save for deposit on new house?
Hi all, I'm looking for some advice on a topic which I thought might be common but I'm struggling to find... I currently owe around 150k on my mortgage and pay around 900 per month. I'm considering paying an extra ~300 to ~500 per month to reduce the term of the mortgage, but I also plan to move house in around 5 years.…
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mortgage poss declined
Hi all See previous thread if u r interested, but it looks as if our mortgage offer is going to be declined. We are seeing an independent mortgage advisor next week to start process all over again, but worried that are credit score maybe affected by applying for a mortgage elsewhere. Please can someone reassure me? Just…
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Paid Application fee on Mortgage now Gazumped!
Hey all, Just seeing if you think I have any chance of getting my application fee from the Skipton back! I been approved for a Mortgage and paid application fee over the phone yesterday then today the estate agent told me someone had offered more and this had been accepted! Am annoyed but seeing if anyone had any…
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Skipton 95%
Hi all, I was hoping somebody could advise me. I am looking at the skipton 95% mortgage, I know there are lots of opinions on the downfalls of high LTV and I appreciate them all, however I am saving but have seen my perfect house. I can't save any quicker by moving in with family as I don't have any and my spending has…
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Intrest free mortgage.. a good thing or bad?
Our current mortgage deal has now expired and we are looking at our options. While the safety of a Capital & Interest mortgage seems to be the norm, my husband feels and Interest only + ISA may be the way forward for us . I understand that the debt is still owed after the deal expires, however what i dont understand is…
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Offset mortgage: is it for me?
Can someone help me on this please, I am new here (thought I had already posted this but cannot find it). We have £60000 mortgage on a standard variable at 3.5 and 16 years left. We have £50000 savings which while they gave us some return are not doing so at the moment. we do not want this money to be locked in for too…
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Which provider for higher income multiplier?
Hi, I am thinking of possibly moving in the next year or so, and have been inputting our income on the borrowing calculators, as expected the amounts we can borrow vary a great deal, does anyone have any recent experience of mainstream lenders who offer higher income multiplier, we have proof of income and a good credit…
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Endowment maturity, final payments received
I appreciate that what I’m sharing with you may not be relevant as every policy has many aspects which contribute to the final maturity value and you can’t make any assumptions by comparing to others. However I know I was interested previously in what people got in their final pay outs. I’ve just received my final…
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should i consolidate?
At the moment I only owe 45k on a house worth 115k, but also owe around 15k on 2 cards and a loan at the moment financially i can cope, but I was wondering if its worth sticking it all into one pot? I pay around £870 per month to cover the lot, but a 60k mortgage over 14 years would be around £480 on a 3 year fix, thus…
