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Are ISA linked mortgages subject to the same problems as Endowments?
I was advised that taking out an interest only mortgage and using an ISA to clear the debt at the end of the term was a reasonable idea. 14 years later the ISA is nowhere near the projected value and is very unlikely to repay the loan in ten years time. Despite the fact that it was sold as a targeted 25 year investment I…
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Stuck in a rut
Hello, I am hoping for some advice or help please? 3 Years ago we entered into a fixed rate mortgage and have recently come out of this rate and reverted to the standard rate of 4.99. I have contacted my current provider and also one other to enquire about re-mortgaging and adding on a £10,000 personal loan that i had to…
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Mortgage for Student
Hi All, Just wondered if any of you have come across a mortgage lender who will give mortgages to a couple with a baby where one of the couple is a student? The other is full-time employed and earns about £30K including a bonus scheme. We do have relatively bad credit though. I am what is considered to be a key worker (or…
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extending a lease
good morning, just need some help re: the above. i have recently bought a flat with an unexpired lease of 79 years. i have looked around and it seems that i will need to pay around 5k (including expenses) to extend the lease for 90 years. im just wondering whether i have to extend it for 90 years, or can i just extend it…
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Buying 2nd Property - mortgage
I have a property that has 20k mortgage left on it (property is worth 100K) meanwhile we are saving up a deposit to buy a second property (we will be living in both) Is it better to pay off the existing mortgage (at 3-4%) or save all the money for the deposit - currently we should have enough for a 25% deposit if we don't…
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Mortgage Free?!... We'd just like a Mortgage!!
Hello All, After a little advise if you can. My partner and I currently rent a house we pay £550 a month rent; we have been here nearly 2 years now. We are having various troubles with the next door neighbour, to the point we want to move; as its not worth the hassle anymore and i dont feel safe in my home. We found…
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Surrendering an endowment policy...
Hi folkes, I'm thinking about surrendering an endowment policy. It's with Phoenix Resolution Group and its performing terribly. I don't think it's suitable for selling as it is unit linked. I've been paying in about 15 years and have 10 years to go. I guess it's value is related to the stock market so think I might as well…
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Mortgage Broker no longer lending?So cannot change Mortgage interest rates.
I've a Mortgage through a Broker.Which has a high interest rate of 9.44%I've had financial problems over the last 18months.They have never offered an alternative Mortgage or other payment alternatives only in the last 5 weeks have offered the interest only at the same rate.The only thing they pushed me to was the GMRS…
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Refused a 10% mortgage!
Need to seek some advise. Having been made redundant 18 months ago i decided to set up my own business and become self employed. I have not been trading a full year yet so do not have 12 months accountants figures. We have decided to downsize from our large house and get rid of a large mortgage and the running cost of a…
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Help and advice needed
Hi all just wondered if you could help out on my brother in laws situation. He currently owns his own house and has a mortgage on it, his girlfriend is moving in a few weeks and is going to be paying him £400 per month towards running the house and mortgage. What we want to know is if he takes money from her towards the…
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Pension/Mortgage Deposit
I thought I read recently that the government were looking at letting people use the funds in their pension schemes to cover the deposit on a mortgage. Does anyone know anything about this or any other similar scheme?
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mortgage advice please
please delete thread, thank you
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mortgage company taking too long
Hello peoples, I have been waiting for a month for a mortgage offer from Northern rock. we were told to expect it in November but our claim was randomly audited and they wanted a bit more info. They said it would be fast tracked and take 5 days, now it seems it hasn't been looked at and they do not know when i'll get an…
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Halifax Mortgage Refund
Yesterday I received a letter from the Halifax (have had mortgage with them since 2003), to say they have refunded my mortgage account £540 plus £96.70 in intrest sie to a difference between their SVR rate and the Bank of England Base rate. I considered questioning them a couple of years back when it was brought to light…
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Remortgage - help a newbie...
Hi, I am a newbie to the forum and I have started a major financial "overhaul" in the last few months and we are both on a mission to pay of all loans and credit cards over the next 10-12 months. Or more like a major financial learning curve - it is VERY scary when you realise how little you really know about your own…
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re mortgaging
Hi, I am just about to re-mortgage for the first time and I have been given some products available to me, However since I took my mortgage out I have had some financial difficulties resulting in a dmp.( no defaults with my mortgage) If I am going to stay with the same bank for my new mortgage, will they do a credit check,…
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two mortgages
Hi all, quick rundown of situation.. and please bear with me as i'm not financially savvy. Basically, i'm splitting up with my partner, very amicably. we currently have a joint mortgage with unequal shares. Orginally i was going to take over the mortgage house and she was moving out, but being self employed and in a non…
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HSBC mortgage application partner changing jobs
Hi Yesterday evening we called HSBC to apply for a mortgage given that they ask for 3 months payslips we neglected to inform them that my partner is changing employment. I've been informed by our broker (who cant offer HSBC mortgages) that HSBC will more than likely perform an employment reference check. Does anyone know…
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transferable mortgages - not!
Hi, I have a buy to let mortgage with Scottish Widows and want to transfer it to another property I let out (currently with no mortgage) in order to sell the first property but keep the mortgage due to it's favourable rate. However, Scottish Widows have said that since they currenty do not offer new buy to let mortgages it…
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Remortgage advice
Hi all, Looking to remortgage, currently with the Halifax but happy to remortgage with anyone. My outstanding mortgage is 160k and the property is worth £205k. Now, I rang the Halifax and said I wanted to remortgage for a higher amount, they said that they couldn't do that because any additional borrowing would need to be…
