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Interest Only mortgage overpaying?
We have read the article about the interest only timebomb and have a question regarding our situation. Firstly we own a property in Germany which, depending on when we sell it, will go a long way to clearing our interest only mortgage. We rent that property out and the profit goes towards lump sum payments off the mortgage…
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Selling endowment
Hi - I sold an endowment by auction but by mistake the reserve price I had provided was lower than I intended. I know that there is usually a cooling off period for buyers but does anyone know if there is a cooling off period for the seller in this type of situation? any advice welcome
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FTBs need advice
Me and my OH have just put in an offer on a house, we have had a meeting with our mortgage broker and our offer in principle is on the way. But we need a solicitor. Do we get one now, or when a house situation is more concrete? If we need to get one now, how on earth do we even begin to go about finding a solicitor?…
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Newcastle Building society - slowest mortgage offer in history?
its been 8 weeks now and still in the underwriting process....what kind of systems do they use? coal powered? (ohh...forgot, closed all the mines!!) this is so frustrating when you see nationwide application to offer in 2 weeks!!
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Monthly interest question
Hi people I just checked my online banking (Halifax) and noticed my mortgage interest that they add on at the end of every calender month was over a £100 more this month than last month? I'm on a fixed deal so shouldn't it be the same added every month? Any help appreciated.
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Northern Rock Secured Loan - Interest Payments
Ok guys so I'll be the first to admit over recent years due to illness, divorce and some denial I haven't always kept up with knowing my finances. I am almost debt free now :j and it is time to concentrate on my mortgage. I have been going through my paperwork from Northern Rock (my mortgage provider since Sept 2005) and…
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Porting my NRAM mortgage??
Does anyone have any experience of porting their NRAM Together Mortgage? I'm considering downsizing our beloved home to reduce our montly outgoings. We currently have a Together Mortgage with NRAM with approx. £203K outstanding on the mortgage and £26K outstanding on the unsecured loan with 24 years left to run. I'd love…
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abbey/santander cap margin
:mad::mad: hello I got a mortgage in Dec 2006 this was on a fixed rate for 5 years it then went on to the svr after this. I got a letter this morning and it gave a leaflet saying what mortgage conditions I should look at for December 2006. I looked at the book I still had and it says that if the increase applies to whole…
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'Free' Independent Mortgage Advice
Hi, We are in the early stages of re-mortgaging due to potentially moving house. I checked the best deals for our LTV via comparison sites and lined up a few appointments, one of which was with Nottm Building Society. When we arrived at The Nottm the chap explained he was an independent mortgage advisor, who has access to…
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Where to put my extra savings please?
Hi, :) Hope someone can help!!! I have just got a new mortgage which only allows overpayments of 500 per month in the first two years (two year fixed.) This poses a problem to me because I want to massively overpay. Therefore I am going to do the 500 extra allowed to the mortgage, however I have a spare 900 per month that…
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Applying for a credit card 2 months before mortgage application
Hi, I am looking for some advice. I am planning on applying for a mortgage in 2-3 months. I ave not previously had much credit, but what I have has always been paid on time. Whils I have been saving for the deposit, I always intended to apply for a credit card and use small amounts each month to build me credit rating.…
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Mortgage Home Owner Loans
Hi all, I'm looking for some advice on whether it's worth paying off two mortgage home owner loans I've got. One has £4k left on it, the other £8k (both on a rate of 2.29%). The thing is, I'm currently overpaying £50p/m on the lower amount and £90p/m on the higher amount, which means they'll be paid off in 3 years instead…
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MSE News: Interest-only mortgage timebomb warning: act now
"Over 1.2 million people with an interest-only mortgage are not saving enough to pay off their loans, says the FCA..." Read the full story: Interest-only mortgage timebomb warning: act now Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to…
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MORTGAGE ADVISERS:does anyone know the INCOME eligibility4 ECOLOGY BUILDING SOCIETY?
does anyone know the INCOME eligibility for ECOLOGY BUILDING SOCIETY? we were going to go through lloyds, applied and were accepted ,for our current house purchase, but it seems its in the too hard basket for lloyds (the condition of the house), so we can get the MONEY, but not the house we want most likely...! someone…
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Need advice on Buy-to-let
Greetings everyone, Myself and my wife are looking at buying to let and are not exactly sure of the best way to tackle this. We have a £40K mortgage on our current property which is probably now worth closer to £130K so I understand we have equity we can use here. We have our eye on a property worth around £90K. What would…
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Self-Employed Mortgage - No Previous Declared UK Income
Is it possible for a self-employed British citizen, newly returned to the UK after several years non-residence, to get a mortgage without 2 or 3 years of declared UK taxable income? Everything I read points to UK sets of accounts, self-assessment returns and accountants' certificates verifying declared UK income. Does…
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Mortgage Options
Hi, I have posted a similar thread before as I am undecided what to do but now I have seen a House that I want to go for. The house is up for 240k but I hope to get it for 230k. I have 25k in savings and my current mortgage on my current home is approx 25k and my house is worth 140k. Just to complicate things further I am…
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Better to pay of first mortgage to get another one or have two?
Here's the situation: My parents want to move house but can't afford it. I have said to sell their house and let me use that money. Parents house should sell for about £75,000 My mortgage has about £68,000 left to pay and my house is worth about £205,000 The house my parents would like is £95,000 Should I use their money…
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Mortgage options - current deal runs out jan 2014
Hello all My house is currently up for sale 3 months no offers but loads of viewings. My Estate agaent has sold a lot of properties in my area but not mine I dont know why its up for guide price £11000-£11500 now dropped the price £107,000 - £111,000 I owe £94,500 - rate of 5.89 till jan 2013 - £600 per month my rate…
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How do lenders persue a shortfall on a mortgage? Advice please
Unfortunately my mother in law is probably going to befacing repossession in the near future. I was just wondering when/ if there is a shortfall on themortgage how do lenders pursue this? Based on current house prices I would estimate the shortfallon the mortgage to be around £10,000. But then there would also be the…
