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bank want us to pay lesson the mort, why?
OK had a call from our branch saying they noted we were on a relatively high mortgage rate (we have been on the SVR for a while) and that we have high equity and only 8 yrs left to pay (all true). Being a bit cynical I assumed it was the usual sales call and asked a few questions expecting to just tell the guy to take a…
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5 or 7 year fix for FTB
I am looking at a mortgage of £123,000 with a 10% deposit for my first property. - because of this, the rates are high (around 4.9%) Any advice would be great - Do you think a 5 year fix is fine or would you prefer to pay an extra £30 per month to get a 7 year fix. Interest rates i think will rise very steadily for the…
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Accounts needed for mortgage for self-employed?
My wife and I are hoping to move in the New Year. I am fully self employed and my wife has full time employment with a small self-employed income. Between us we're earning between £45-50k pa. We have a small amount of savings and a good amount of equity in the flat we currently live in. SO my questions are: do I need to…
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On abbey's SVR , not sure what to do next
Hi, hoping for some advice My situation Bought house for 890,000 ( 2007) Loan of 680,000 ( well was more 720,000) but have paid 40k off in the year past few years. Currently i am on abbey's , sorry Santander's SVR of 4.24. Loan is interest only. I have also spent a bit on my house, added a extra bedroom, en suite, as well…
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Flat's too high to remortgage!
I need to consolidate some debt and have recently come out of a fixed rate mortgage. I'm self-employed and although the variable rate is good at the moment I'd like the security of a longer term fixed rate deal . I own a flat which has gone up in value since I bought it and have a mortgage with HSBC Because of my debt my…
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Is it worth paying to get out of fix
Currently fixed at 4.69% till 1/9/14 on a debt of £110,000. Early replayment is £3282. House is worth about £160k. To my mind, if I can get, say, a remortgage for 5 years, at around 3.5% with little fees I'd be better off. Any thoughts?
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Are broker fees owed if...
Evening all, This is my first (of many) posts on MSE, I have decided to finally join the forum as I am in the process of buying my first property and want to save as much money as possible now and in the future! Basically I have a question regarding broker fees, I have a 2 year fixed rate mortgage offer that will be 6…
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Early Repayment Charges
Hi, I have a fixed rate mortgage on my property which I am having to sell. I have found a buyer but they want to move the beginning of next month. If I go ahead I will have to pay the ERC of nearly £4k even though the mortgage deal finishes on 31st Jan. Seems a bit harsh considering I will only have 3 weeks left on the…
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Old debt
hi I wonder if anyone can help me. My partner had his home repossessed about 4 years ago due to his x partner not paying the mortgage and hiding it from him. He thought when the house was sold the debt had been covered, now a company has contacted him to say that 33,000 is still owed, they have also contacted her (she…
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endowment with standard life help!
hi there just wanted some advice from anyone out there who knows more about these things than me. ive got an endowment which is 1/2 managed and 1/2 on the stock exchange. its due in april and will have a end of term bonus of 600 to 900 pounds. i need 22k to cover my morgage. its currently at 19800. BIG Q do i cash in now…
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one account offset mortgage competitors?
Hi, Currently researching offset mortgages, most notably from the one account, just wondered what other options were available for a higher rate tax payer with 50% LTV? Would like info on available rates and flexibilities/pro's & con's Thanks, Kevin
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Mortgage problems with The Mortgage works
Hi all, My mortgage was transferred to "The Mortgage works" from Bank of Ireland officially last week on the 7th Dec. I called them on the 7th to make and overpayment but was told if I paid more than £500 in a month I would be charged £5000, supposedly 5% of my mortgage (which is incorrect amount anyway) I explained that…
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Porting with C&G plus additional borrowing.
We are waiting to exchange contracts but have effectivly sold our house. We owe £111k ( 17yrs left ) with C&G, our 5 year fixed finishes in Feb 12 and then goes to 2.5%. I have been told we can port within 12 months should we find a property we like. Well we have but we are still going to move out & rent for a few months.…
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Mortgage Required, No Job but have Assets
Hi I am recently self employed and have no proof of income. I own outright (no mortgage) 3 small properties in the midlands which I rent out. The realistic combined value of the properties is approx £200K. All three houses have been let on 12 month agreements. Problem: I was living with my partner in her property but…
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deposit and loan value
Hi I am just trying to get my head around this I have a 25k deposit I went to a few lenders and they said that I am able to borrow 175k now thats including my deposit. 150 + 25 =175 but do I then pay deposit on that 175k or is my 25k the deposit and added to the loan value? so confused,
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Mortgage insurance and lodgers
Hi, I recently purchased my first house!, I have been very happy. I have been living in it for 6 months on my own and my girlfriend comes to stay with me sometimes. Now I have 3 potential bedrooms and I am considering letting either 1 or 2 of them to lodgers. I am most likely going to invite one of my friends to live with…
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Salary multiples. Who would lend the most ?
Which bank has the most generous lending policy nowadays on 10% deposit. HSBC for example will lend you 3.5 times. Anyone would lend more ?
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mortgage advice
just a little addvice please ,mortgage fixed deal is up in jan,would you fix in again?how long?and what deals are around,have a mortgage for £154,000 many thanx
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Flexible Mortgage - Nationwide
Has anyone looked into these? It says 5 year tracker mortgage but 'freedom to switch deals without an early repayment charge' so does that mean you could go to Fixed rate if the tracker proves costly? It also says standard legal and valuation fees paid RAte seems better than the 2 year fixed rate at 3.79 per cent with a…
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Is it possible to port a joint mortgage to 2 separate to avoid ERC
First of all,apologies if this topic has already been covered,I'm new here and would really appreciate some help. My daughter and her partner have separated,they have a joint 5 year fixed mortgage with Santander and are about half way through the term,they are looking at roughly £6,500k ERC. Their house has just sold and…
