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Lump Sum Mortgage Repayment - what are the penalties?
Simple question - I'm about to buy a property and just want to know what penalty I would incur if I wanted to sell it in future and repay the entire mortgage so as to be mortgage-free again (assuming some capital aprpeciation). Is there a ball-park figure for this kind of thing? Thanks
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Trouble at the end of mortgage term!!
Hi there I hope someone can help with my major dilemma. Basically I bought a property on an interest only mortgage..( yes I can hear all the sighs, 'oh dears' and 'that was a silly thing to do' comments). The outstanding balance on the mortgage currently is £195,000 with an additional £25,000 secured loan attached to…
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Endowment top up not initially paid
I recently received £1084 out of the blue from Standard Life along with a letter of apology for not paying on maturity. This related to an endowment policy which had an £8,000 shortfall. After my initial pleasure at receiving this windfall I became angry. Why? Included in the payment was an amount of £64 relating to…
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Mortgage app approved but credit card debt increased
Hi A couple of months ago I went to apply for a mortgage with a broker ( I have out an offer on a house any my house is sold stc. My mortgage apps were initially declined due to an old association with someone who is bankrupt. This has now been removed but too late for the app. My mortgage broker then got me accepted by…
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Are Scottish Life the worst?
I've a 20 year Profitbuilder House Purchase Plan. When it matures next year I can expect £15000 despite paying premiums of over £16000 and having a target amount of £29000. Is this the worst performing endowment of all or can anyone beat it? Have just looked up the Scottish Life director's remunerations and it's left an…
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How do I protect my Investment when I am not on the Mortgage or Title Deeds?
Hi, Myself and my partner's application for a joint mortgage was declined on account of my credit rating. After exploring all avenues available to us we decided the best option was for my partner to obtain the mortgage in her name only. The lender and our solicitor has said it is not possible to have my name on the land…
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Mortgage impossible?
Hello, I am looking for advice on my current situation. I live with my partner in a rented house currently paying £650 in rent. My partner has a mortgage on a property with equity of around 18k possibly a touch more. This property is currently rented out covering costs. We both have an income each, 26k for myself and 27k…
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Advice on what to ask for from partner upon separation
Hi all, looking for some advice on what to ask my ex partner for now she's decided to leave me, Setting the scene, she has decided to leave for unknown reasons? We are still friends and I believe there is no one else. Until (and still) this point I have always been the higher earner, so I have been funding our lives in the…
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Bank Not Playing Ball!
Hi guys, We are at our wits end but are trying to get something sorted before it's too late. First of all I would like to point out we are not trying to just get our mortgage wiped out or walk away. We are trying everything we can to repay our debt. We came out of an interest only a year ago and after much to and frow the…
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First time buyer - Halifax mortgage - stamp duty
Hi all, I'm a first time buyer and have recently had an offer accepted on a flat. I'm already some way down the process and have a mortgage offer from Abbey/Santander but have just spotted the offer from Halifax and am wondering whether it might be worth switching to them? The Abbey offer is 3.74% fixed for 5 years, £995…
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FTB - how do you set a sale completion/exchange date
We've put in an offer, appointed a solicitor and got the ball rolling on searches, but - due to a small !!!!-up on my part - haven't been able to apply for full mortgage yet. The last point should be rectified next week, and we've kept the buyer informed every step of the way. However, they want us to complete sometime in…
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Mortgage valuation due-what's involved?
Just curious but have a but have a mortgage valuation planned for Monday. Would anyone know what the valuer would be looking for and are there any questions we need to ask? Also will I get a copy of the report? Thanks as usual Al
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How much info do you declare on a mortgage application?
Looooong story short: we want to buy a property but my husband has two defaults, one from 2010 or so, £300, settled. He also had a default from a loan he got in 2003 - we're not sure if its settled or not as cannot get any paperwork from the CRA/bank so is on long-term hold. (We think it's been paid, the debt that is, but…
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mortgage with defaults?
Can we get a mortgage with 2 defaults? Looking at a property worth £80k, have a 15% deposit, my husband has 2 defaults, 1. default april 2011, was settled in nov 2012 2. default april 2011, currently paying off monthly. My credit history is clean, no defaults etc Thanks
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New house? Weird Deal?
Hi Folks, Wondered if someone could help us, we are interested in a new property with Ben Bailey homes and they have offered us an "Advance 95 Scheme" (Just search google for ben bailey advance 95) Now I'm sure when I spoke to them over the phone, they told me it's a scheme where they give us the extra 5% and claim it back…
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is this solicitors fee reasonable?
Looking to purchase a property in London zone 2, here is a list of solicitors fee: Solicitors fee: £550 + vat Mortgage fee: £100 + vat Charge for processing TT payment: £38 + vat ID search fee: £12.50 + vat Stamp duty land transaction return form fee: £85 + vat Disbursements Land registry fee: £270 Land registry search…
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Will I pay tax on my endowment policy
I have just received an endowment payout of £34,076 and my endowment was to pay £15000, although originally in 1987 the sum assured on the policy was £30,160. When we realised that there may be a shortfall we moved £15,000 to repayment. I have been paying interest only of £53 each month to my building society for the…
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Mortgage Underpayments
Hi, I have a repayment mortgage which was originally £730 per month for which I have made over payments in the past. I rang my lender 18 months ago to stop the overpayments and have my direct debit put back to the original amount. I've just realised that they in fact reduced my direct debit to £700. It seems that they…
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Halifax mortgage Application
Could anyone help with the following? I've been through the AIP process and also full application with the Halifax, survey (valuation as new build) has been instructed for next week. Is this a good indication that I have passed credit check stage? Or will this be done after the valuation results are back? If anyone has any…
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Am I wasting my time?
Hey guys and girls I am really here to ask for advice, I'm a first time buyer, the major issue is that I am self employed and as far as people are informing me I'm screwed. I am tempted to just walk into the bank and see what they will offer me however I thought I would ask you friendly bunch to see if I am asking the…
