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Repay mortgage or buy NS Bonds?
A combination of redundnacy and early retirement has left me in a position where I can repay my £80k offset mortgage. But I am thinking of instead of just repaying £50k and using £30k to buy National Savings Bonds [the max allowable for self and wife]. My mortgage is 2.39 over base rate, so currrently 2.89%. Nat Savings…
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Guarantor Mortgages
Hi all. Could do with some 1st time buyer advice... I live and work in central London earning £30k a year and looking to buy a flat. Something at the very low end of property as a starter/doer-upper.... I have very little savings but i do have a family member who is a CEO of his own company, and has a large property…
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Newbie new thred
Hi All I have a small problem I would like some advice with plz :) I am in my 3rd year of my mortgage, I have about £165,000 left to pay, I pay about £1,070 per month My home is worth in todays market about £320,000 My brother kindly lent me £45,000 for the deposite when I first bought my house. And so had a charge placed…
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Vendor Gifted Deposits
I've read elsewhere on the board that vendor gifted deposits are no longer offered. Me and my fiance are renting a house from my sister. It is her second home as when she met her husband they both owned homes. They are now looking to move but 1st need to sell this house to move. The house is valued at 92,000 and they want…
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Mortgage Application After Redundancy
Hello there - hope somebody out there can shed some light on my current situation. I have recently accepted voluntary redundancy from my current employer and my plan is to move back into my family business to work with my dad. I will put the rest in bullets so it is easier to read: * Moving to the family business requires…
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New mortgage advice
Hi there. Looking for a mortgage, currently renting. I'm self employed with three years accounts of 2011: £7.5, 2010: £5.4, and 2009: £12k. My partner is on £17k full time. We have 10% deposit and looking at houses at £100-110k mark. Both our credit histories and scores are fair (800 pts each) and no debts. What are our…
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Rent or Buy?
Hi all, I'm being made redundant in exactly 1 year today from the RAF. :beer: Part of the redundancy package is Special Paid Leave which allows me to go away and do a PGCE, to retrain as a teacher, on full pay. I've just over 20k in savings, on 40k wage for another year, will receive a 25k redundancy lump sump on Sep 1st…
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Nationwide payment holiday and valuation of our house
Hello everyone, I'm currently pregnant and on maternity leave very soon. I'm wanting to take a payment holiday from my mortgage but they say I cant because i'm not within 80% of my mortgage. The reason they think we are not within 80% of our mortgage is because they are using a hpi calculation of what our house is worth…
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Leaving the country...what to do about mortgage...?
Hello, all: The other half & I are moving our family to the States and are getting ready to put our house up for sale. We bought the house for $130,500 in 2007 and have recently had it valued at £120,000 by several estate agents in the area. If we get £120,000 for it, we'll be faced with a deficit of £10,000 which we'll…
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Strange mortgage thought
So, I'm 36, I own a £300k property, I have £60k left on the mortgage, and I have £60k in savings. Currently my mortgage is a intrest only and I'm paying around £130 per month. Here's my thought... Given that iv got the money, should I pay it off? I ask because It occurred to me that with £60k savings I could essentially…
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Is it possible to have 2 residential mortgages?
Hi, All comments welcome;) I own a flat in my own name, probably a few k negative equity. My partner and myself want to buy a place together. We have saved the deposit and are viewing places. Is it possible to have a second mortgage without selling the flat or converting to buy to let? What we plan to do is buy somewhere…
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First time buyer
Hello All Please could someone advise, I am looking to buy a house in Abbots Langley for 250k. I have 80k deposit, I am 31.5k and my girlfriend is on 16k. We are going to start looking next June for a place as we need to save more so we can get everything we need. What i was hoping to get was some helpful experienced…
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What is our LTV?
We have an outstanding amount of £152,000. The house is worth approx £180,000. Also, when there is talk of a rise in interest rates how much notice do we have, how much time to fix something? Will it mean a mass rush of people trying to fix and therefore products harder to get hold of? We made a poor decision when we took…
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Mortgage and new baby, I need your advice!
Hi Money Savers, I need your advice urgently! I was made redundant last Xmas, then had my baby in June this year, and I m currently getting £500 pm maternity allowance. We visited the bank late on my pregnancy asking for a mortgage, we said we were looking for property around 110K with deposit around 35K, my husb earning…
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Too good to be true? [95% LTV]
Relative newbie to the world of mortgage enquiries, but please can someone tell me what the catch is with the Skipton's apparent offering of 95% LTV mortgages here: http://www.skipton.co.uk/mortgages/fixed_rate_mortgages/2yr_95ltv.aspx Any help is appreciated.
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Need to sell even with negative equity
HI, never posted before so here goes. Myself & my husband were living to my husbands overtime, when, as you've guessed it stopped. We have taken huge steps already by returning our car & have come to arrangements with those we owe money too. We have learnt alot of valuable & much needed lessons. We have cancelled our Sky…
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When to start and gifted deposits
The OH and I have been offered what I see as a really good deal from my Uncle. He has just renovated a house and has asked if we want to buy it. We dont have a deposit at the moment so we asked to rent instead. He said that we could, and if we could save up a 5-10% deposit in 12 months, he would give us the rent back as a…
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Need help with mortgage advice????
At the moment I currently have a 90% mortgage on my home, joint with my husband. We bought the house in 2009 for 100,000 with a 10% vendor gifted deposit, making the mortgage 90,000. Repayment mortgage. The interest rate is just over 7.1%, working out to about £650 per month. Fixed for 5 years, until March 2013. The ERC is…
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Remortgaging and acceptances
Hi, I would like to remortgage, end of deal in Oct and Halifax remortgage rates are not as competitive as others. The problem we have with our remortgage applications will be the fact that I work for companies on contracts whereas my wife has been continuously employed for 7 years for one employer. I just wonder how best…
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Natwest Confusing Me How Overpayments Will Affect My Mortgage
Hi All, I posted about 2 weeks ago with regards to making my first lump sum overpayment to our Natwest mortgage account. I'm still having difficulty understanding what the admin staff are trying to tell me. I will start off with giving some details of the mortgage. Original Principle: £121,000 Interest Rate: 5.99% Term:…
