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Mortgage, moving and babies
Here is my situation. Apologies for the length of the post. I may be starting a new job in a different part of the country on 1 August and would be getting a substantial pay rise as a result. My salary will be £68,000 if I get the job (and I stand a 50/50 chance, so I’m really trying to plan ahead). I currently earn…
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Accord "tracker to fixed" - views?
Looking at a 5 year mortgage on 25% deposit with Accord, which is BR+1.69% for two years (this is a collar rate, so can't fall below 2.19% even if BR is reduced) and then three years fixed at a guaranteed 3.39%. Fee is admittedly quite high at 1995, but we're looking to borrow the best part of £400,000, which makes the…
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Hip Hip Hooray
A few weeks ago I spoke to a friend who had surrendered his 4 endowments, paid off his mortgage with the proceeds and was left with £4500 to spare. Having thought this over for a week or so, I decided to check up on the surrender value of my own 3 endowments and was pleasantly surprised when I found that the surrender…
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Mortgage advice needed
Hi We have arrears of £4500 on a £76k mortgage and are at the stage where we have been asked to either pay extra each month to clear the arrears or add the arrears on to the end of the mortgage. We would struggle to pay more than £20 extra each month which will takes years to clear the arrears, but we do not understand…
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clearing offset mortgage?
Hi, can anyone help explain what would be the best thing for us to do? we have a repayment offset mortgage of £91,000 fixed at 4.79% until 2014. we can pay off 4% per year without penalty. Due to an inheritance we are in a position where we could clear the mortgage but don't want to pay the redemption penalty. We can put…
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Need help with mortgage or loan
Hi everyone, burning midnight oil and need help . We have a house in UK worth £130k with a £45k mortgage. We also have a holiday house in France worth £200k owned outright. We are retired with a joint income of £23k We want to do some work on our UK house and need £13k, we want to borrow this and pay interest only, the…
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Santander Mortgage Early Repayment Fee
My partner and I have decided to sell our properties and make the move towards a family home. She has been with Sentander for over 10 years and coming close to the end of her 5 year fixed contract at 6.5% (less than 6 months left in the contract). Her house sold very quickly and now she faces an early exit penalty of £2K.…
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A mortgage lender that doesn't require bank statements?
I have a great credit report, no missed payments, on the electoral register. I have no debt save for a £1500 overdraft and a salary of £37,000. I have a £50,000 deposit, from my parents as a gift (am not expected to pay it back). I applied - and got -a mortgage of £85,000 but I changed my mind about the property as I had…
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Nram help needed asap.....
Ok just a question, i have my mortgage with Nram have for 6-7 years, well the then northern rock... Since have lost my job, and am currently 8 weeks from giving birth to my 3rd child, i was struggling to pay the mortgage using the tax credits i had for the children, but this was a nightmare and left us with nothing... Is…
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expat mortgages
Evening. I am after some advice on expat mortgages. I am an expat originially from the UK. HOw easy is it to get a mortgage? What kind of deposit would mortgage lender be looking for? Is the process the same as it is in the UK- provide proof of employemnt etc, proof of salary, monthly expenditure. I am only looking for…
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Mortgage application and Defaults on Credit file
Just looking to see if any of you have come across this before: Back in Jan 2009 2 defaults were placed on my credit reference file, for not making the minimum monthly payment (£80.00 paid instead of £120.00) confirmation of arrangement to pay given over phone at time but did not realise I had to wait for it in writing…
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Need a small mortgage
After a year and a half my ex has finally accepted 25k to buy him out of my house, I'm a single parent with three kids, my house is worth 125k and has no outstanding mortgage, I have no other debts. My income is around 23k per year, only 6k of this is my wages, the rest is tax credits, maintenance etc. I have managed to…
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Buy to Rent
Looking for advice on buying to rent. Situation is son currently renting property and cannot get onto housing ladder, as I wish to assist open to discussion on pros and cons of buying to rent, using own property as colateral; with the aim of initial financial assistance ending in possible sale of property to son in the…
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My 5 year housing plan - advice please
Hoping to move to a larger home and have 2 plans. Would like opinions on which option to go with please. Plan A - Have £12,000 equity if we sell current home and £15,000 savings - to move will need to use all of this for a deposit. Plan B -My other idea is to rent a larger home for 5 years - save £400 a month and rent out…
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How do we avoid losing our house?
We have been in our house for just over 3 years now, and although we were comfortable paying the mortgage back then, a change in financial situation means we're in trouble now. The house is worth around £400k I would guess, and the mortgage is for £240k at an interest rate of 5.590%, which is interest only. This equates to…
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Electoral Roll
Good afternoon, Wonder if I can ask for some help please. I moved into my existing property 5 years ago. I applied with my current bank (who I have banked with for the last 11 years) for a 2nd mortgage on a new property, as I am going to rent property 1 out. Went to see my bank, who looking at my outgoings and salary etc…
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Should I break my 5 year fixed rate?
Hi we currently have a 5 yr fixed rate mortgage taken out a couple of yrs ago. Its for 420k at 4.15%. We are interest only. We are struggling a bit with money right now and I was wondering whether I could remortgage onto a lower rate to cut our monthly payments. Given the current rates, we could reduce our payments by 50%…
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DPS - Deposit issue on tenancy
Please delete. Duplicate thread.
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Can I extend my mortgage life beyond 65
I have bought my house with my son. I am 55 and he is 31. We have 11 years left on the mortgage. We have just come out of a two year fixed mortgage and are looking for another deal. I have had to take a pay cut at work and would like to reduce the monthly payment. Are there any mortgage lenders who would extend the length…
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Completing on mortgage whilst still having another mortgage
We have an incompetent solicitor so I wanted to ask some advice here as all through this process it has been me pointing out her mistakes and avoiding messes she has been making. We have exchanged on our house with a completion date of 25/10 - we have a mortgage balance on this house which will be repaid on completion. We…
