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What happens to your mortgage if a bank collapses?
Just hypothetically speaking. I was wondering what happens to your mortgage if a bank collapses? Who do you pay your mortgage to then? Also, if the bank are wobbling, do they typically offer deals to customers such as "pay half your mortgage back immediately and we'll call it quits"? Sorry for my ignorance. Just been…
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Halifax mortgage promise and credit default
I need so advice please. My husband and I have applied for a mortgage with halifax. We have a mortgage promise and have had an offer accepted on a house. The survey has been paid for and things seem to be going ok. The mortgage advisor told us that we both came up with a first class credit rating when he did the check for…
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Looking for a buy to let mortgage
OK I've got myself into a position which seems to fall between the cracks in terms of finding some money to finish refurbishing my house and getting it rented out. I own a 4 bedroom terraced property is S.E.London. The house next door has sold twice in the past few years, first for 450k and then 600k about a year ago. I…
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Helping Parents
Hi all this is a bit of a strange query but I cannnot find any info online. Basically.. Parents live in a property valued at 350k they want to do a b2l so that they can take 250k equity out to help them purchase there new house as they are having problems selling. New house is 470k after fees, savings and the remortgage…
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Deed of Gift Bankruptcy Indemnity Policy
I am buying my ex-husband out of the family home and I have to give him 30% of the value of the house. This was agreed in our divorce and rubber stamped by the courts in our consent order. The total split of marital assets in the divorce is 50%/50% so my ex-husband is receiving other assets to make up his 50%. I am taking…
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Offset Mortgage Management
I have an offset mortgage with an interest rate of 0.98%, my savings earn 4% in a savings account elsewhere. Pretty straight forward no-brainer you would think however, my offset mortgage statement calculates(from my current account which is linked) that I am benefitting at a rate of 5.4% for the balance in the account.…
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2 low valuations on dream house!
Hi - we've been renting for 18 months, sitting on our deposit, and finally a house we loved came up. It was on the market at £169,000, they (eventually) accepted an offer on £162,000 from us. In the first week of being on the market they had lots of viewings, but no firm offers. We thought we'd got a great deal on a big 4…
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Have I broken the court order?
I have a suspended repossession order on my home (fell into arrears during breakdown of marriage) and was ordered by the courts to pay an extra £50p/m towards the arrears on top of my mortgage payment - this I have been doing for several months now. I phoned today to make my monthly payment (no longer pay by DD incase DH…
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Accord mortgage overpayments
OH and I plan to make overpayments on our mortgage and want it to reduce the term, rather than the monthly payments. We have an Accord mortgage applied for through an independant financial advisor. Our mortgage paperwork says we need to specify whether we want the term or monthly payment reduced when we make overpayments…
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Request for a new calculator please Martin!!
An 'Overpay Mortgage or Withdraw Repaid Capital Sum and Put into Savings Account' calculator!! Bit of a mouthful, sorry.... I have a £184,000 offset mortgage but have paid off £26,500 of it already so that the capital sum is now £157,000. I am paying this off at 1% interest. Should I withdraw this £26,500, which is…
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Please help ref searches!!!
My partner and I had an AIP from the Coventry in sept valid for 28 days. Since then we have found a property and had an offer accepted. I sent back the mortgage paper and Yesterday discovered I have had arrears added to my credit file for September November and December with regards to exceeding an overdraft limit.…
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Getting a mortgage after repossession
I need some advice for my daughter please. In a nutshell she bought a flat with a former boyfriend. They split up, she came home, he stayed in flat. She carried on paying her half of the mortgage he never paid anything. This carried on for over 12 months until she decided she was just paying his rent for him in effect.…
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I have a plan...is it flawed?
Ok I have a property with a value of approx 450k, of which 325 is equity. This property is jointly owned with my ex wife. Is it possible for me to raise a buy to let mortgage on this property for approx 285k pay of existing mortgage then give ex 165k as a pay off. The property has a rental value of 2k plus. It's in a…
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Repossession
Can somebody tell me what happens to the left over money once a property has been sold, and the mortgage and bailiffs costs are deducted?? A friend who had her house repossesed about 6 years ago has still not had any information supplied to her regarding what if anything was left??? Even allowing for bottom valuation of…
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Anybody taken HSBC mortgage recently?
Hi guys, I've just got off the phone to HSBC trying to get an agreement in principle, however they only offered around 1.8x our joint salary. Income is just over £53k, and they offered us £98k! Even the women said it seems very low, and she went off to check she'd put all the figures in correctly. We are first time buyers…
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Buying second home and renting out first
Ive got no idea about the financial implicaitons of keeping our current home to rent out to pay for mortgage, then buying a new home... Our current deal recently expired, so we are now on variable, but not a very good rate (with Norther Rock!!)... Ive just arranged for a remortgage, valid for 6 motnhs, but now thinking it…
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Simple one about AIP
Hi Posted previously about 2 AIP's I have via a broker who has made a few errors. I read a very concerning post yesterday regarding an experience with another persons AIP - it has made me worry. Can you help me understand something? Say AIP is for £172,225 - I was led to believe that an AIP was 'we'll lend you the money…
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Credit report shows missed mortgage payment but inaccurate
We have been applying for a new mortgage to purchase a house, however we have been turned down by lenders due to our credit report showing a missed mortgage payment 9 months ago which is incorrect. We have all our mortgage statements to prove it. We are aware we can get this corrected but it will take months and we don't…
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Reduce the term or reduce amount?
Just looking for some pointers here. Went into building society to enquire about the procedure regards making overpayments towards mortgage (do we need to fill forms etc etc) Anyway, the cashier informed us that the process is easy enough we just need to say whether we want to 'reduce the term or reduce the amount'…
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Advice please: Remortgaging UK Property from Overseas
Hi All, I was wondering if you could help. We have a mortgage in the UK and only have 5% of the mortgage value left on it and therefore all of our capital is tied into this property. we can't sell it a) for the fact that the property market is slow and b) because the exchange rate to AUD is poor. Now that we're in…
