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Should I reduce interest only or repayment with lump sum?
I have an A&L 5-year fixed mortgage and can overpay by 10% in january without penalty. My balance then will be approx £55,000 (22K interest only, 33K repayment). Is it better to pay of 5K of the interest only part or the repayment part, or doesn't it matter? 5 years come to an end in may 2014.
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Received AIP on commercial loan - how will it affect credit rating to look elsewhere?
I'm looking to do a re-mortgage of a shop+flat with more than 50% LTV and solid rental income. I've received an AIP through a broker from Natwest which doesn't seem too attractive to me. Although the rate is probably in the right ballpark (at base+4.5%), the offer is conditional on me transferring my personal and business…
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Mortgage delay
Hi, I have just heard that I have had an offer accepted on a house, but I have an issue. Basically I shall be applying for a joint mortgage with my wife. She is in full time employment, but I am a contractor with my own limited company. I spoke with a couple of lenders a few months back, who indicated that I would likely…
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I'm not a first time buyer... or am I?
HI. I've been browsing to try and find the answer to my question to no avail. Presently I am privately renting with my partner, both of us have previously had mortgages on our own houses which have been held without any defaults and paid off fully at the sale of the houses which in my partner's case was nearly ten years…
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Advice please...
Long time lurker, first time poster... be gentle with me... Long story - suffice to say my first wife left me with about £35k of debt which I've now got down to about £10k. Last year my father passed away leaving a house currently on the market for £74,950, it's been on the market since May with no offers etc. The house is…
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Trying to obtain a 2nd mortgage
Hi, i am desperate to move houese, i currently have an interest only mortgage at 1% above base rate. The mortgage is for £113'995. Unfortunately due to the rapid decline in house prices my current house is only valued at the price of my mortgage therefore after fees etc i will be in negative equity. I dont fancy selling my…
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endowment bounes
hi can any one explain what the bounes means on endowment
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Mortgage Question move or stay with lender
Hi Guys, I need some help with my Mortgage, I am currently on a 5 year fix rate of 4.59% (2 years in) and I have seen othere banks offering better rates, so now I don't know if I should move or stay, is there a calculator that can help ior some advice? All comments welcomed
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getting a first mortgage what to concider and how to sort quickly?
Hi all what other fees to i need to concider? legal fees, surveys, and mortgage fees.. anything else? Is it best to use a broker or do it yourself? Speed is quite important so whats generally faster?
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Mortgage Payment holiday refused - Nationwide
Hi All So angry right now! We rang our mortgage company, Nationwide about 6 weeks ago with the idea to apply for a mortgage holiday. We only really want a 2 month payment holiday, just would be nice to put the money aside ready for christmas shopping we thought. I lost my job at the start of the year as the company I was…
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mortgage with high debt to earnings ratio
As above ,can ayone please help ,iam looking for a lender who will lend to someone with £35,000 of credit card debt but also who has never missed a payment on anything.my salary is around £25,000. Need to remortgage asi looking at the interest on one of my cards,i feel iam just throwing money away. my house is worth around…
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low value deposit
Hi, My head is fogged, 2 step sons aged 21 & 23, are both to inherit £5k each, they would like to get on the housing ladder, and the grandparent who has given this probably would be thrilled to see them make good use of this. 1 of the boys is in a permanent relationship, and is renting, the other still lives with his mum…
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To remortgage or not remortgage?
I'm currently coming to the end of my mortgage term and was looking to remortgage with A&L (with them now). I have also got an additional loan offer with them for an extension on my home. Due to hiccups the extension won't go ahead now till after Christmas and the loan agreement will have expired. I was looking to just…
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FTBers - when it all goes wrong?
I am just wondering if I can pull on the experience of other homeowners for a bit of advice. I am very cautious and don’t want to take any big risks! Obviously the idea is to scrape as much money together as possible for the deposit plus cash for fees etc, but what about a contingency pot? Assuming a good survey picks up…
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Joint Mortgage Get Out!
Hi, I split up with my partner 18 months ago and he moved out of our jointly owned house 9 months after. I have been paying the mortgage on my own since with the help of a lodger. Th break up was amicable and he is doesn't want to own his share of the house anymore. The house is about 5 grand in negative equity and we…
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Experiences with Co-op/Britannia
Hi My girlfriend and I are looking for a mortgage for a property we have had an offer accepted on of £180k, deposit is 15% There are two deals I like: Coop/Britannia lifetime BoE base-rate tracker of base +3.19 (currently 3.69) It's not just a good rate, there's also the fact that there are no upfront fees (other than…
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How can I get my name removed from a mortgage?
Hiya, I am in need of some advise. I split up with my ex coming up to 3 years ago. We purchased a house together. Both names were on the mortgage and deeds. I am happy to walk away - I just would like the matter resolved. He has tried to get his father on the paperwork but he was not allowed due to his age. My ex has now…
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Small mortgage?
Any help / advice greatfully received. I am after a small mortgage of around £40,000. I have a large deposit from the sale of my house. Ideally I would like to pay it off within 10 years and for the payments not to go above £500 per month, and preferable one that doesn't charge a high set up fee. TIA
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mortgage advice
before i waste time going to the bank, i wondered if anybody could give me some advice. me and my wife are splitting up and i want her to keep the house and mortgage on if possible, but i want to be able to get myself a mortgage in the future, so would need to come off the mortgage i would assume? she can afford the…
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Is coming off the ladder a good idea?
Hi I need a bit of advice, really so im armed with as much info as possible - only considering options right now. My husband is moving away for work, and I would like to go with him if possible but we are not sure financially what to do. Currently I own the house and it is on the market and we would be expected to make…
