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Mortgages & endowments

Archives for December 2011

Re-mortgaging Advice Please
Evening all, Firstly, hello to all members.:wave: Secondly, I apologise in advance if what I write doesn't use the correct 'terminology' as this is all new to me. I'm asking on behalf of my mother so bare with me. Current situation is as follows: Mortgage term ends March 2014 Currently interest only with the BOI Total…
What is this Interest on my Redemption Statement and why do figures not add up?
Will be very grateful if someone could explain the following please? 2 quesions really. January 2011 received my Annual Mortgage statement which stated I now owed approx £228,391 which is fine. It showed that in December 2010 I cleared £270 as capital repayment, with £269 in November, £268 in October etc. So based on that…
clever way to get out of 10 year deal?
Hi all, I have been wondering for some time now if I'm paying more interest than i need to. I signed up to 10 years fixed rate at 5.15% (just before the base rate dropped). As this is an offset mortgauge, does anyone know off any way to borrow cash at a lower rate? long shot i know but would be grateful of any ideas
Can a mortgage withdraw bank base rate guarantee just like that ?
Hi, I've received a letter from mortgage company (Manchester Building Society) this morning telling me they are withdrawing bank base rate guarantee - can they do that ? I currently pay 1% over the bank base rate BBR so 1.5% but as the letter states this isn't making them much money, so they are giving me notice that they…
Stuck on a high fixed rate until march 2013
Hi Folks Can anyone help. Bit confused about what to do. I am currently stuck on a fixed rate of 6.2% with Nationwide and have been for some time...very distressing!:( (I fixed when every thought rates would go through the roof before the credit crunch). The term on the fixed product is until summer 2013 and early…
Changing names on Mortgage
I have a joint mortgage with my wife and we are getting divorced.The house has equity in it but I want to let her have the whole amount but she will need her new partner on the mortgage instead of me to keep it going.Many years ago I was in a smilar position with her first husband and all he did was send a consent form and…
Self employed mortgages
Any one got any ideas where's best I have tried a few places but then don't bother even calling back, Problem is I have 2 jobs both self employed even though the money is quite resionable seems to be quite hard My partner is currently in training so isn't on great money but goes up every 6 - 12 months for the next 4 years…
re-mortgaging when on a dmp
we've just started a debt management plan back in Oct.things were going swimmingly until my other half lost his job 2wks before our daughter was born.as a result cccs have done our income/expenditure summary and worked out we can pay £5 to each creditor on the basis of my reduced mat pay and oh's job seekers. yesterday i…
halifax SVR
Hi all excuse me if this is obvious but i'm new to mortgages! just coming off our first 2 year fixed rate and about to go onto halifax's svr at 3.50%. The best deal we can get (with halifax anyway, haven't looked anywhere else yet as we are 90% LTV and a concrete built flat so most places won't give us a mortgage let alone…
Transfer of equity has changed my ERC?
Hi I took out a mortgage on a property in 2006 with my wife and my sister, my sister was only on the mortgage to help push it through as I was self employed at the time and my wifes income wasn't enough, my sister never lived in the property or paid towards the mortgage, I could pay the mortgage extremely easily we just…
Definition of a first time buyer
Hello, I have a question, I am trying to find out the definition of a first time buyer, the reason for this is I once owned a house as a single man and sold this house back in 2002 so 10 years ago now, my life is now with a partner, we are not married yet and a small child, we are thinking of getting a place together as we…
Halifax Homeowner Variable Rate
I have a month to run on my Halifax fixed rate. I do not want to change lenders. I have two options - do nothing and go on their SVR of 3.5% or (from the deals offered) I could fix for 2 yrs at 3.49% (ie virtually the same) with no product fee. I appreciate there is an early redemption fee & overpaymnts are limited to 10%…
Stuck in interest-only deal: advice?
Hi We entered an interest only deal which held us for three years. Unfortunately, savings haven't risen enough for a decent deposit, house price valued lower and we weren't able to get a deal with any other provider due to the current situation. We want to go onto repayment but the repayments are too high without…
Existing property as guarantor
My wife and I would like to buy a new larger house to move into. We would like to keep our existing property to rent out and possibly keep as an investment. It has no mortgage so wouldn't be an additional drain on our resources. The facts are we earn £66,500 combined with a £41,000\£25,500 split. Our deposit is approx…
Duplicate
Sorry duplicate post, webpage crashed and it looked like this first one was lost.
Overpay or save for new deposit
Hi, I have a lump sum that I would like to pay towards my mortgage. I m limited to £500 overpayment a month so would have to do it in monthly £500's. I have virtually no savings apart from this sum but of course this money is making very little in the building society. I have very helpful parents who always encourage me to…
Incorrect term of fixed mortgage
I have recently found out that my mortgage was set to the incorrect time period of the fixed rate term. When I purchased my new house my old mortgage was transferred and I expected this to be for the remaining term (47 months), instead the lender reset the term back to 5 years at their current fixed rate, after the fixed…
Can't seem to get a mortgage....
I am currently renting (8mnths) but prior to that I have had a mortgage for over 13 years. I am trying to get a mortgage but have been turned down. I have got a 60k deposit and need a mortgage for 300k if possible. Trouble is, I am debt free with money in the bank (Thanks money saving expert ) but I have a couple of CCJ's…
Pay off Mortgage?
I have approx £2k left to pay on my mortgage, i've had some conflicting advice as to whether i should pay off completely or leave the mortgage open with a small amount to pay - If i pay off would i still need to pay bank/solicitor to keep the deeds? I hope to buy a new house at some point in the near future, so would it…
Unit-linked Endowment
which is not linked to a mortgage. My wife was sold this as a savings product back in the mid 90's. Does anyone know whether one can claim for mis-selling of an endowment even if the product is not linked to a mortgage? thanks in advance for any answers.

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