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Overpaying and shortening the mortgage term
Hi everybody, It's been a while since I was last on these boards, however, I'm in the process of potentially changing mortgages and would like some advise on the above. I'll be switching from a fixed rate to a tracker (see below for details), and was wondering if it's worth shortening the term to 19 years, as well as…
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2 year tracker is ending soon..any tips?
Helo guys... I hope you can help me with the following case of my friend: He is 60 and had an 11 year mortgage. He took the mortgage deal in 2011, it was interest-only tracker rate of 2.54% including Bank of England rate. The deal expires soon and he said that his bank paper say that the interest rate will jump to 3.99%…
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Higher mortgage deposit or pay debts?
Hi all My partner and I are looking to buy a house together in 18m time or so and I'm just wondering whether we are better using our savings to pay off our debts or to have a higher deposit so the LTV percentage is lower on a mortgage. My partner has his own house so by next year we estimate he will have £30,000 equity in…
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How can my mortgage rate be reducing but monthly payments increasing?
I have a fixed rate mortgage with NRAM at 4.99% which is due to end this month. I also have a secured loan which is at the SVR rate already. I've had a letter from them telling me that as of 1st March when my fixed rate ends I'll switch to their SVR of 4.79%. That's fine although a pretty high SVR. However they are quoting…
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Low credit score mortgage on discounted council house!
Hi I was wondering what are the chances of getting a mortgage on a council house.... The good bit: Estimated market value £110,000 Estimated mortgage needed after discount £60,000 No deposit (could discount act as deposit??) The bad bit: Credit score is about 620 I went overdrawn unauthorised with Barclays about 5 years…
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Overage and mortgage
Help! :cry: Please! I have searched Overage on the forum and it's not looking good! When we found the house we are hoping to buy we were told there was a Deed of Covenant relating to the land at the rear. It meant that any building works (houses etc) would mean we had to pay 40% of the profit to the covenant "owner". We…
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Credit card cash advances and mortgage
I've just viewed my credit report and noticed that my Sainsbury's credit card treats cash withdrawals abroad as a cash advance. The reason I use the card is because there are no fees or commission for withdrawing cash when overseas, it gives a perfect exchange rate and I'm not charged interest on the withdrawal if it is…
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Student Mortgage - any advice?
Hello Does anyone know of a good lender / broker who will help a 19yr old student (FTB) to get a mortgage? (Just had offer accepted on a house) We know they exist, but would love some recommendations if poss, or an agent who can help? The mortgage will only be about 30% of the property value, and there are already agreed…
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Buying shared ownership property outright, mortgage advice needed
I own 50% share in a shared ownership property which I bought when I was single 6 years ago. I am now married and we were thinking of selling the share and moving house. However on looking around at houses the ones available for our budget are no better or bigger than the property we currently live in. Therefore we are…
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LTV Question...
Just a quick rant on something that's silly, but has been annoying me for a while... When I bought my flat I paid £116,000 (auction, repossession). It was probably worth about £130,000ish. When I had the valuation done (before the auction), the mortgage advisor said we'll ask the surveyor to value at a max of £125,000 (as…
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Life after repossession?
Hi Having met my now partner who is based in the North, due to the demise in the property market, I was forced to rent my own house and relocate. Unfortunately becoming a Landlord unexpectedly doesn't come without it's pit falls. My house needed repairs which I couldn't afford and tenants were becoming irregular and in the…
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mortgage question---can i transfer the mortgage to my sister
Hi all, sorry if i confuse anyone whilst i explain the issue: my parents are quite old (65) and are first time buyers, since they are so old i don't see it feasible for them to get a mortgage (as it would be too expensive the payment) Therefore as a recent grad with an ok salary, i was thinking of getting the mortgage in…
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Mortgage - Existing Dept
Hi guys Myself and my wife are looking to get our first mortgage in approx 2 years time. The reason for the 2 years is to pay off our existing depts that we have. Most of this on credit cards and a loan that ends in 18 months time. My partner now has a better job and we are in the position where we can look to finally…
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A bit gutted!
Booked a 5 year fixed with FD about 2 weeks ago at 3.39% with a £499 Fee. Just looked today and the same mortgage is down to 3.09%. Is too late and I'll just have to take the hit? I always seem to do things just at the wrong time! Rant over..!
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Mortgage advice with CCJ please
Hi, I'm hoping some of you might be able to advise about myself and my husband's current situation. Please bare with me as I've tried to research and read up about this but I don't have a great deal of understanding about mortgages etc. My husband is 24 currently, is a student and we have a young son. At present we are…
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Sub Prime only option?
Good Afternoon My partner and i are trying to buy a house. We have no debt and have an LTV of around 25-30% He has a perfect credit rating and currently has a mortgage. I have no debt at the moment but i have had 3 defaults in the past. All now satisfied although one was only satisfied recently. We are waiting for a broker…
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Mortgage, New Job - Worth Trying?
Been given the chance to buy the flat that the other half and I have rented for a long time. I am recently self employed and have no accounts as yet and my non investment income will not be regular, she is a couple months into a good permanent job after a few years of doing self employed contract work. I own two other…
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Mortgage for mixed credit ratings? joint mortgage, large deposit, good LTV rate?
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Deposit - Bank transfer
I need to do a bank tranferof the full deposit amount to my solicitor, I need to transfer £35k from a natwest account and £10k from Lloyds account. Without having to pay fee for transferring the deposit does anyone know what their daily trasfer limit is for each bank? Thanks in advance.
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will a buy to let affect my residential mortgage health?
hi all! i have been looking into the potentials of buying a house wth my brother under a buy to let mortgage and renting it out. We both currently have a residential mortgages on our own "home" properties which are ticking over nicely. i was wondering, if i were to enter into the buy to let market, how will this affect me…
