-
Help with Monthly Versus Yearly Interest Rates
I have just checked my yearly mortgage statement, and noticed that the balance after 3 years of repayment was £600 higher than my own calculations did show. Looking further into that, I realised that the monthly interest added by Santander was simply the yearly (5 years fixed first buyer) 5.99% divided by 12 and not what I…
-
Santander end of fixed term
Hi Guys, Later in the year will be ending our fixed term, so I've been checking out various mortgage deals - however Santander don't publish existing customer rates/deals on the web. Before I call them I wonder if anyone has had experience, and whether their retention deals are in general any good? (ie. better or worse…
-
Can I get a better mortgage if I use my future and current house in the request?
My friend and I got together and bout our first house together a few years ago with the plan of one day buying a second house and renting one of them out. Through overpayments we are about 10 years into our 25 year mortgage and I have done the maths and I believe if we don't have any big expenditures we could pay the…
-
Mortgage overpayment maths question
Morning all, I'm trying to work how to roughly estimate how much overpaying my mortgage effectively returns over it's term, in AER, so I can compare it to other investment options. I'm aware there will be a lot of guesswork involved and that the exact answer can only be calculated with hindsight :) Is it simply AER=average…
-
Managing director - no profits
We are looking to remortage as trapped in a high fixed rate at the mo and want extra money to convert our garage . By adding the fees for early redemtion and the money for the garage we could still save ourselves up to £180 a month by remortgaging. But my husband is a MD and the business has made no profits in the last 3…
-
Interest only ends when I am 65
Hi I am hoping someone will be able to give some advice on my situation, before I talk to my mortgage provider. For reasons I don't need to go into in detail here (business failure 20 years ago) I have been on an interest only mortgage ever since. Some 5 years ago I moved to the Nationwide and had a fixed mortgage which…
-
Natwest - No IO
Now that Natwest has made the decision to not grant residential mortages on an interest only basis , does this mean that they are looking to open up the lending gates a little and are adjusting their exposure , or is it just another example of a bank closing in on itself ?
-
UK mortgage for an ex-pat :)
I am currently working in NZ and have been doing so for the past 2 years. I have saved up some money and have enough for a house deposit now. My sister and her husband will be moving from their house in the UK sometime in the next year and i am eyeing it up as an investment potential on a buy-to-let type arrangement. My…
-
First Time Buyer - HSBC Mortgage Timeline
Dear Experts, I am a FTB and have completed my HSBC application last week. Ive call my mortgage advisor yday and he told me that my mortgage has been agreed and he has arranged a second appointment for tommrow. To date there are no credit searches in my credit report and no valuation done yet, but the Mortgage manager says…
-
Mortgages for new-ish consultants
Hi, I'm looking for a bit of advice please.... My husband and I bought our current home in 2005 for £117k with a mortgage from Northern Rock which was done as a 90% mortgage and a 10% loan over the life of the mortgage. We would now like to move to a bigger house, but I now only work part-time as we have 2 young children…
-
Mortgage affordability criteria
Hi all, newbie looking for some advice please. We are in a situation where we want to downsize and use some of the equity to clear debts. So far we have been told we do not meet affordability criteria because of the debts. Once the debts are cleared we do meet the criteria. So therefore we would have plenty of funds but…
-
Is it possible to get a 100% mortgage using current house as collateral?
Hi everyone, I am in the Forces and am renting out my house (with mortgage lenders permission) I have about £30k in equity in the house. Due to a short notice change in circumstances I now need to buy a house but have not had an opportunity to get a deposit together. I want to keep my current house as an investment and buy…
-
Updating mortgage between viewing and completion?
Hi, we arranged a mortgage via the Post Office last October. Our purchase is taking a while and there are actually some better mortgage deals available now. Do you think we've got any chance of persuading Post Office to give us the newer rates? :)
-
Home moving and fixed rate mortgage
Hi, I hope I'm posting this in the right place. I haven't moved for 10 years and when we bought our flat we were first time buyers. I am finding moving/increasing the mortgage very confusing! We've got a buyer for our flat for £192,500 and we've had an offer of £262,500 accepted today on a house. My Dad's also giving us…
-
Mortgage questions
Basically had the letter today to say that my current mortgage rate is nearly up (currently5.79%) and that we will revert to there STR mortgage but struggling to find there rates etc any help tips and advise would be massively appreciated :) cheers
-
Skipton Mortage Application process time scales....
Hello I have had a decision in principle accepted and approved I've been told 3 steps ...... 1st is DIP= accepted (I no these are no 100%) 2nd step was Afordability check - again accepted no issues 3rd step - someone is calling me tomorow too discuss what rates etc i want I have already spoken to the underwriters as I had…
-
Aviva (CU Homemaker) Endowment Final Bonus Level 2013??
One of my endowments comes to an end this April and I wondered if anyone has any insight into what the final bonus will be? It was a Commercial Union Homemaker Endowment started in 1995 (now Aviva). I believe final bonus rates last year were 32% but I have heard that many are expecting rates to fall this year across most…
-
new mortgage help
hi i have a been through a divorce and been living in the marital home on my own paying mortgage bills and debt myself the last year.the house is sold going through now also divorce settled.i ewill come out the settlement zero debt also 10k deposit but my experia credit score is 543 until i pay all the debt off will my…
-
First time buyer advice
I am currently saving to buy my first house i currently have 10k and in 5months i hope to have 20k i have seen a house i like it is a new build 3bed detached which i think is over priced it was completed in 2010 and is still on the market. last year the builder put it for sale under another estate agent it is on the market…
-
10% overpayments barclays/woolwich great escape
I know how to make an overpayment, basically sending money to an account number and sortcode, to reduce the balance. I am nearly in the 2nd year of my fixed deal on this mortgage, in the first year the balance was 100k and ive overpaid exactly 10k. Balance is now about 87k so i guess i can pay 8.7k this year. When can i…
