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Mortgage : Stay On Current Fix Or Move Elsewhere/To Variable
Here's my dilemna. Two years ago. I took a 7 year fix at HSBC (£97500, 75 pc, 5.29%) at a time where the future looked uncertain. Now with the BoE pledging to keep interests low (see http://www.moneysavingexpert.com/news/banking/2011/07/interest-rates-held-at-record-low) , I am keen to see whether I cannot move elsewhere…
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Post moved
Post moved to IVA forum. Sorry for any inconvenience, I'm new and made a mistake. I don't know how to delete =S
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Are we classed as 1st time buyers?
Ok - I think this is a daft question as I'm sure we're not 1st time buyers. My wife and I are looking to get a mortgage. She is a first time buyer. I owned a house 5 years again (sold it 3 year ago) with a mortgage. I don't have a mortgage now (rented for the last 3 years). For our new joint mortgage, are 1st buyer…
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FTB - What happens next?
Hi all, Sorry if this has been asked before but I have been looking on the net trying to get a basic overview but can't seem to find the advice! So, I have had an offer accepted. My survey was done nearly two wks ago and I have the valuation report for the price i've offered and no retentions (still awaiting my homebuyers…
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Getting credit file record withdrawn
Does anyone know how easy is it to get an adverse credit note removed from your credit file. I had a mortgage in principal but now been knocked back as i couldn't explain 6 defaults in 2008, just checked my credit report & the nationwide have marked me as defaulting during a six month payment holiday i had with them. I…
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(Another) Ltd Co director needing a mortgage
Hi all I've just read the thread started by vlevans on same subject. My circumstances are a little different so I thought I'd avoid contaminating that thread with my plea for advice and start a new one. First, I haven't found a house I want to buy let alone applied for a mortgage yet, but would like to understand how the…
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FTB- Mortgage offer retracted
A couple of weeks ago I applied for my first mortgage direct with Santander. Overjoyed to receive my formal offer in the post last monday, as I had been worried about credit check. I called my solicitor on friday to see how things were progressing, when he told me he had received a letter from the bank retracting the…
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fix, tracker or discounted mortgage?
I am in the position to buy a house with a 20% deposit. I am scared to buy in case we see a housing crash but I am also scared to wait in case we see a huge climb in interest rates and I miss out on being able to get a decent mortgage rate. I have asked about the likelyhood of a crash on another board, but was wondering if…
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Mortgage fixed term ending soon..Advice needed
hi this is my first post here so hi all and i would like to thank you in advance for any advise given. My halifax (HBOS) mortgage fixed rate is ending at the end of October. I have got the following details in feb this year. the balance was £100,148 £93,000 fixed @ 6.39% and the remainder is 3.5% variable(i remortgaged…
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Late Credit Card Payment - Effect on Application?
Hi I am just about to apply for a mortgage with Halifax however have foolishly missed a payment on my MBNA credit card (min payment due approx £40 due on 28/5 paid on 9/7 - my only credit card with cr limit of £1k) MBNA have confirmed that as the payment was 10 days after the due date that they will have notified the…
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Always or sometimes
We have an AIP for our remortgaged, we applied with broker to Halifax. We put in full applications then heard from solicitors asking us to fill loads of forms about saving and the deeds. But no formal offer. No valuation. Is this normal when we bought our house we had a formal offer within days. What can go wrong between…
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Help and advice needed
My partner and I are saving a deposit and have been for the last year. We currently have £10k saved and are going to carry on saving for another year-18 months and continue to save £1500 a month. We are also lucky that we will be recieving approx £25-£30k at the end of this year from a saving plan which part of can be used…
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Am I crazy?
I would appreciate your thoughts..... I have a lot of money tied up in savings bonds earning approxiamtely 3%. I am nearly 50. I need the interest but can happily leave the money long term. My son wants to buy his first house and has been offered a mortgage of 4.99% on a 5 year fix. He has a good deposit and a secure job.…
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What to do with rubbish endowment
Hi there. I bought my house in 1999 for £43,500 and have been paying the interest off on the mortgage ever since. Due to many problems to boring to go into here, I have not been paying the endowment. I just had a statement and it is worth £6264.22 - probably less than I paid into it - and is losing me £256 a year in admin…
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Maximising my chances of getting a mortgage
I'm hoping to apply for a mortgage at the end of the year and I'd be really grateful for people's advice / opinions on whether there's anything else I should be doing to maximise my chances and whether I'm likely to be able to get the amount I'm hoping for: I'm an accountant currently earning £39k. My partner and I are…
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Lifetime mortgage
Hi everyone I am looking for some advice for my brother. He is a 55year old single man with no family apart from me. He owns a house worth £200,000 and he has a £100,000 mortgage outstanding on it. We are looking into ways of reducing his £630 a month mortgage so that he doesn't have to work such long hours to pay for it.…
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Endowment red letter question
I've had mail problems since moving house about six years ago. In May my mail from Standard Life re: my endowment caught up with me, finally. The statement says "Red Alert" so I guess this is what they would call a Red Letter. I've just worked out that means I might theoretically be eligible for compensation - but I…
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95% mortgage with vendors gifted deposit?
Hiya We are a young couple from Scotland completely new to all of this and have finally saved up enough money to put a deposit on a house - woohoo!! Problem being the house we have seen has been on the market for 2 years and belonged to a older lady so it's in need of quite a bit of updating nothing major but will cost a…
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100% Mortgages
I have the opportunity to get back on the housing ladder via a shared ownership house. The only problem is i don't have any kind of deposit. Are there different lending rules for shared ownership mortgages (i.e do i need a deposit?)? Or is it possible to lend 100% of the purchase price? Many thanks for your time and i look…
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First Time Mortgage / Deposit Loan
Hi All Would be grateful for your advice on the following scenario my partner and I face: - Both me and my girlfriend (aged 24) are earning just under £30,000 each p/a - We have no substantial debt other than nominal credit card/overdraft sums. - I've checked my rating in the past and did have a 'good' rating; my…
