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old endowment policy frozen in time
Hi, I will make this short. I took out an endowment policy with winterthur about 14 years ago. I found out they were not to good so I then switched to a repayment policy. The money in the endowment is still there and I get an annual statement. There is approx £3700 in the policy. I have been told that it cannot be taken…
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Royal London endowment policy
Hi people, I have a Royal London endowment policy maturing next year, it's not big, £10 a month for 20 years with profits. Anyone with something similar, or with a clue what I might receive?
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Help to buy negotiation.......
Hi everyone I'm after some advice re a new build that we having been looking into..... I will try and keep to the point. It's a four bed new build house with bellway priced at £289,995. They are offering this on the help to buy scheme, therefore giving me the 20% towards the deposit and I plan to use the equity in my sale…
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budget for let to buy
i am looking to let out my existing property and buy another one to live in. i want to move my current mortgage to the new property, and then get a new buy to let mortgage for the existing one. how can i work out what my budget is for the new property? am i right that the max loan for my main mortgage is around 4x my gross…
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Applying for a mortgage with 2 5 yr old defaults
Hi All, I'm a little confused about something. My partner and I would like to buy our first property. We have saved ourselves a 10% deposit and hope to achieve 15% with the help of my family. We are both in good stable well paid jobs for over a year with the same company and earn £56k between us. We are looking at houses…
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100% Ltv mortgages
Hi quite new to mortages although we have bought our first house and have nearly sealed a deal, we would like a new property that has just been built, but I need some advice on the mortage side of things Me and my partner earn combined 39k a year The property were looking at is £165,000 We have a deposit of £8k What type…
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Mortgage with Big Savings
Hello I am "unemployed" and I live off investments i have in shares and in the bank. I want to buy a 3 bedroom for 120,000 with a 65,000 deposit. (so i want bank to give me 55,000 in mortgage-loan) I am unemployed but i have a additional 100,000 in savings in the bank and in shares. Can i still get the mortgage?…
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First Direct and Lodgers
Hi, I've got a mortgage with First Direct (I'm the sole homeowner) and I'm thinking of getting a lodger. I discovered (by chance) that First Direct allow only one lodger and there must be no written contract. That seems odd to me, but anyway, I have a couple of questions: * If there's no contract, what's the difference…
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Can I still switch bank accounts?
Hi my husband and I are out of work through genuine ill health, our benefits get paid into our bank the RBS. They amount to just under £1000 a month, would the other banks accept us.
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Residence Relief and Lodgers
Hi, I own my house and I'm thinking of getting a lodger, and later on I might get more than one lodger. I read somewhere (I can't remember where - sorry) that having 2 lodgers at the same time can affect the Residence Relief on any capital gain when selling the property. I've read about Residence Relief at the HMRC…
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Santander lifetime tracker mortgage
Hi I am a first time buyer and looking at some mortgage options, i am appealed by the Satander lifetime tracker, as the rate is 1.99 above the base rate which at the moment is 2.49. Plus i can make extra payments as required with no penalty and can change at any time (if say the base rate goes up). Plus i receive cash back…
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Santander vs Abbey?
Santander seems to have a reputation for messing people around. Abbey and Santander are essentially the same company, so do they inherit those same problems? I had a broker come back with an Abbey recommendation. Worse rates and fees than Santander, but the broker says they're quick. Opinions? (on both speed and how much…
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Lifetime Tracker rate hike - Is it legal ?
I have had a lifetime tracker buy to let mortgage since 2006 and when I signed up for it the agreed rate was Bank of England base rate + 0.99%. At that time it was 4.5% + 0.99% = 5.49%. I healthy rate I'm sure you'd agree !! Since then they're moved in up a few times and down lots of times each time in line with the Bank…
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Barclays offset, overdraft amount
I have a few thousand in my offset account and the overdraft figure is over double that. Can i take out that overdraft amount listed on my account and pay my normal mortgage interest rate or do i pay a higher rate once the account goes below zero? The mortgage was taken out about 8 years ago.
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Flat negotiation, new mortgage needed?
Hello, I am negotiating a flat, and the seller has advised that circa 15k of work will be required - and that we have to pay for it if we want the property. We are in a weak position, as the sale price plus the cost of the work still would make the property good value (taking into account the region). Trouble is, I already…
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Mortgage with defaults
Hi, My husband and I both have defaults on our credit files dating back to 2008 ( 900 and 10 000 pounds respectively). What I would like to know is ,will we be able to successfully apply for a mortgage from our bank who we have very good banking history with. We are first time buyers and have a deposit of 25,000.
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Is this a good plan?
Hello. My two year fixed rate ends at the end of October and I've been looking at my options. One thought I have is to increase the term of my mortgage which currently stands at £55k to reduce the monthly payment. I would then overpay the monthly payment with around £50 more than the savings I've made by increasing the…
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Remortgaging and Repossession Question
Hi all, Hope someone can help me with remortgaging-repossession questions here. I have an aunt who owns a house (worth around £500K now) which mortgage had been completely paid off almost two decades ago. However, she remortgaged this house a few years ago to get a loan of £20K. Unable to keep up with payments recently,…
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Mortgage approval during probationary period of new job
My wife and I have both started new jobs recently. The jobs are permanent positions but as with most jobs we are still in the probationary period for the first 3/6 months. Will this cause an issue when applying for a mortgage? I have pay slips on a good salary going back a few years if that helps? Thanks.
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Help to buy scheme
A couple of friends are thinking of moving in with each other (first time buyers), they've seen some nice homes that are being build up around the corner from them. We were having a chat over dinner about the help to buy scheme and wondered if the following was possible. As an example say we have the following; House they…
