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Mortgages & endowments

Archives for June 2013

Remortgage questions (Basics)
Dear Forum, I purchased my home 2 years ago for £215,000, with a 85% LTV deal. That's £32,250 deposit. Properties like mine in the immidiate area are worth £250k now (asking price). Several have come and gone in a matter of weeks. It's east London etc, and prime FTB area. I do not want to take out any equity. I want to…
how do i finance this?
i have the chance to buy a show home for £310000 which the builders will then lease back from me for £1550 a month for the year that they still need it. How can I borrow £310000 for only one year then pay it back and re mortgage it as my own home when I will need only about £100000. I currently have a house worth about…
ERC & New Mortgage help!
So I am buying a house as a FTB with my partner who currently owns a flat, with a fixed rate mortgage from Santander, which they are in the middle of. My partner is selling that flat to put down a deposit on the new house we will buy together. We are looking to repay the current Santander mortgage from the sale of the flat…
Cashing in an endowment
Hi all I currently have an endowment which was taken out a while ago and was 'supposed' to pay out £20,000 at end of term. I have been receiving statements and letters informing me that there is a 'very high' risk of there being a shortfall. This endowment is not needed to pay off any mortgage so there isn't a huge worry.…
Secured Loan - Desperate for Help
Good afternoon everyone, I'm looking for some advice regarding a secured loan on my property. I currently have a mortgage with the Halifax for £73500 and a secured loan with GE Money for £35000. I am in arrears with GE Money and currently repaying the arrears back at £100 per month. My monthly repayment to GE Money is £420…
Issues with Conveyancer.....
Hi, Wonder if I can get advice. Purchasing house from Brother. Price agreed. mortgage agreed and offered. Conveyancer appointed. Property valued. Searches completed. So pretty much near the end of the process. Last week I complained about my conveyancer to the head of department at the legal firm. Reasons: - she lost my ID…
Help First time buyer/bad credit
Hi Im needing a little help and advice on my situation...I seem to have bad credit because when I was younger never payed phone bills/credit cards on time. I now have a really good job, earn a really good wage and have around 30k in savings. I have no bills/credit card loans etc but would like to get on the property…
Re mortgage after bk
Hi, my partner and I are both discharged from march 2011, I have a job at around 35 45 k per annum and have a mortgage for approximate 120k @ 4.78% . Do you think we could re-mortgage to a better rate or should I keep quiet and thank my lucky stars I still have a mortgage ??? Any help gratefully received.
getting a mortgage without selling our current house first
My husband and i have just finished paying off the mortgage on our current house, we are considering buying a new house for £165,000, but we are having difficulties selling our current house, as we have no mortgage would it be possible to get a mortgage for the new house without selling our old house first? Our joint…
Changing parties on mortgage
Hi, I am looking for a bit of advice. My husband has a mortgage with a friend (they had the house before I moved in and we got married) and we are looking to change it into my name. My credit rating isn't great and I am worried that if it gets rejected in my name, will that mean that my husband will need to then have to…
Buying a new build, when will my first mortgage payment be?
Hi, We have just reserved our new build but we will have completed on the sale of our house roughly three months before the new build will be ready - estimated 11th of December. I was just wondering if anyone knew when our first mortgage payment would be? Just working out how much money we will have for the extra bits of…
Rather complex re-mortgage question on a property I bought with a company loan
Hi, This is a rather complex question relating to a property I purchased with a company directors loan last year. I bought a large house which is (conveniantly) split into 2 separate flats last year. The property was bought as a single freehold, as the flats were not separated as different leaseholds on the deeds. In this…
Mortgage repayment - potential ripoff (Barclays)
Hope this is the right section to highlight this. Annual mortgage statements since 2009 have informed me of small rises in my repayments for the next financial year. These increases have been small, just over £1.30 per month. At first I didnt question the increases. But, this year having received my annual statement in…
Getting a better LTV
I read the remortgage guide but I don't feel it covered this issue. I bought the house 2 years ago at 155k when it was on the market for 165k. Now we've had an estate come round and said we should put it on the market, you should ask for 199k-220k. I'm about to remortgage and hoping to get a better LTV since the house has…
update : offer received ,Valuation report question
hi i was wondering if any of the buyers have been facing delays for valuation to be booked ? I have a mortgage offer on 1 property since 3-4 months now , however the vendor either doesnt like most properties they see or makes an offer which never gets accepted so we found another 1, which is 10k more , broker submitted…
Downpayment help from friend
Hi, I am planning to buy a house with 10% downpayment. I am short of money, however my friend (based in Switzerland) is willing to lend me(with no interest) some money for at least 2 or 3 year period. This is around 15K pounds. I already have an Approval in Principle, which is well beyond the mortgage amount I will ask…
Opening First Direct Account to get Mortgage
Hi, I'm needing to remortgage so I'm considering applying to First Direct, to get a mortgage with them I need to first have a current account with them, no big deal as they've got good reviews, as its going to be a joint mortgage application any idea if the current account requires to be in joint names also and be funded…
thought mortgage was paid off but..........
We were really excited as the repayment part of our mortgage was due to be paid off June 2013 and only 1 year left on the interest only part. We got a statement yesterday which showed "months left to pay - nil. balance owed - £253 " What has happened ???? The only thing we could think of was that some monies have been…
"independent whole of market broker"
Hi All, I've met an independent broker this morning (in Edinburgh) who said he's an "independent whole of market broker". When I mentioned deals I came across with Yorkshire Building Society (the FT say they currently hold the best 10 year fixed rate) and first direct (where I hold a bank account), he qualified his…
Porting mortgage in negative equity
I have a mortgage of 131,000 and have had an offer to sell my house for 110,000. I would then like to port the mortgage to new property worth 115,000 that I been offered the opportunity to purchase for 105,000. My mortgage is currently with halifax. Does anyone know if this possible and if so will I need a deposit? Thanks…

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