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endowment - ditch or keep !
Hi Aviva has sent us a Red Alert with a large shortfall today. Wondering if its time to ditch it! Start Date - 27/10/95 Maturity Date - 27/10/20 Premium - £87.67 Current Value - £27,964.62 Surrender Value today - £16,788.22 Target Amount - £57,395 Projected Values - 4% - £30,600 / 6% - £35,000 / 8% - £40,100 The last three…
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Mortgage on UK house while living abroad
Hi, I'm about to buy a house in the UK, but I might be living abroad for a few years quite soon. I'll be using the house as a base and living in cheap bedsit style accommodation abroad. The house will be bought without a mortgage, but I may wish to borrow on the house to do some repairs that are needed (the house is cheap…
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Equity release on a property.
Hi, Currently my inlaws are looking into releasing equity on their property to clear the outstanding mortgage and so help ease their monthy bills. I don't know how much they owe on the mortgage. I don't know a lot about it, or feel comfortable enough to discuss my concerns with them, so I'm looking for some advice. The…
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Re-Mortgage with Satisfied Defaults
Hi, I have a mortgage with Halifax. I am due them around £65k on a house that is work approx £120k. I'm about 7 years through a 25 year mortgage. I was thinking about moving but have decided to try and remortgage and improve my home. The work that we are going to get carried out is going to cost in the region of £20k. Here…
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Good mortgage company for bad credit
Is there such a thing as a good morgage company for someone who has bad debt? basically we have a £10k approx secured loan and would like to put it in with the mortgage, but there is no way my current provider will do it and i don't want to sign up with some dodgy company. Any thoughts?
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Name change on mortgage
I recently got married and have to change to my married name on my mortgage, however i had the mortgage 10 years before meeting my husband and he is not on the mortgage, now we have a son and my husband pays the mortgage as we have a joint account. It does not worry me about him paying it but i am worried that when i go…
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Noob mortgage retention question.
I've done loads of searching, but im hitting a brick wall ( and preferably not a damp one) please help! I had gathered that if we want to purcahse a property at say 85k, and it comes back surveyd with a 5k retention, that the bank wil only give us 80k, we pay the 5k, do the work then ask for our 5k from the bank ( with all…
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Was the endowment payment £30000 short?
Just wondered if anyone could give a yes no to this? My mother (as a married couple) got a mortgage in 1995 for £80000 with an endowment that had monthly costs to the same value as the mortgage monthly payment. In 2006 my father died (as the main wage earner) with an 'open verdict' on the death certificate. The endowment…
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ING Deals
Hi, I have been offered a slightly better deal from INg compared to HSBC. A 1.89% 2 year fixed tracker from ING in comparison to 2.49% life time tracker. ING charges slightly more fee but balances out in 4-5 months as monthly I will be saving around 50 pounds for the 2 years fixed. I don't know much about ING but the…
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Should I have a longer period than 1 month to accept mortgage offer?
We have an offer from HSBC for a re-mortgage but I was surprised that we only have one month to accept. I was hoping that we would have say three months grace and we could monitor the marketplace in that time before making a final decision. We will be moving onto a SVR of 2.99% at the beginning of August (at the end of a 5…
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Should I abandon all hope?
Hi, I am still on a mortgage with my ex-husband - there is negative equity in our house, and so it wasn't sold and divvied up in our divorce. My ex-husband rents the house out, and pays the shortfall between the rent and the mortgage, as my children and myself moved away back home, so once the divorce was done we applied…
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Building society's solicitor
Just had all our mortgage paperwork through and it seems our lenders solicitor/legal representative are the same soliciting firm we are using for the purchase process. Is this a massive coincidence?? Are there any advantages of this to us? Just seems odd of all the solicitors/legal practices in the UK it's the same one...…
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"Porting" a mortgage
Hi, Wonder if anyone can help with this. I have a Woolwich lifetime tracker which has been great at base +0.59%. We need to move house (need an extra room) and I see that the mortgage I have is "portable" in the terms and conditions. I will need to increase the mortgage significantly to move. When they talk of "keeping the…
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Confused on what to do with Mortgage/Endownment
I have a Interest only Mortgage of £38,500 which is due to expire June 2012,I am expecting a endownment shortfall of around £8000. I also have a second Interest only mortgage of £30000 which expires in 18 years.I did not take out an endownment on this one as I am expecting a works sharesave too cover most of this. The…
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First Time Buyer advice
Hi, My boyfriend and I are looking at getting a mortgage in a couple of years. We have just started saving so dont have very much at the moment. Can anybody give us some advice on how much we are likely to be given based on a combined salary of about £53k and how much of a deposit we will need? Obviously we will save as…
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What to do with my endowment payout?
Bit of advice from some experts out there please: My mortgage is part repayment and part endowment. The mortgage term runs to 2018, but the endowment matures in 2012 (it's an old endowment that i started for my last property and kept it going when I moved house) I have been over paying into the repayment part of the…
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Remortgage/loan advice needed please
Hi I am looking to remortgage as my current deal runs out in 1 month. I have £57,000 owing on mortgage with a further £18,000 on secured loan. Making a total £75,000. I am wondering if anyone can give any advice as to whether I should look to take out a loan so that I can pay off the secured loan earlier. Has anyone been…
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MSE Mortgage Brokers et al...please can I have your suggestions?
I am finally coming around to the idea that the benefits of owning might outweigh my horror of the commitment so... I'm looking at properties ripe for updating in the region of £80-90k, I have a £40k deposit. I want Fixed rate, repayment, pref daily interest calculations, no excessive redemption period and portable in case…
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Advice please
Hi A bit complicated but bear with me! Looking at retiring, probably early 2012. We have about £210k in savings and a house (paid for) worth about £130k. We'd like to buy a retirement home for around £240k, which means rasing £30k of strictly temporary finance, repaid when we sell the old house. What is my best option for…
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Can the amount you can borrow be effected by the size of your deposit?
Hey all. Our joint income is £32000. We have £35000 deposit. What can we borrow?. Is it 3 times £32000 which is £96000. Does the fact that we have £35000 deposit mean we can borrow more? A bit confused. We would like to buy a house that is £130000... Any help thanks.
