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Endowment maturity problems
Problem 1 In July I rang the lender and they said I could continue my interest only mortgage indefinitely as I wanted to take the endowment money. In November I sought to clarify this and they changed their minds and were insistent on the mortgage being paid in full. Problem 2 The mortgage is for £55000 but the endowment…
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Will the inflation of property exceed the interest payments on a mortgage?
I can't work out what is the best long term. Is it better to take out a larger mortgage for a bigger house as this would be worth far more in future or would it be best to have a much lower mortgage to save on interest payments?
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Age related Mortgage criteria help please
Im 51 years old and single. Self employed. I have a mortgage at the moment, but I was wanting to buy a larger home. Ive been told I cant get a larger mortgage due to what my accounts say, and was wondering if theres ANY way around this at all. My father is retired and solvent, but he is over 70 and considered too old to be…
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Mortgage credit checks
Hi, I have a mortgage set up ready to go with the Nationwide when we move into a new build. We are expecting to move in 2 weeks. My question is - Will Nationwide check my credit score again on completion. I am looking to purchase a sofa on finance but dont want my credit score to take a hit if Nationwide will run another…
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End of a fixed rate mortage (Firsttime buyer)
I'm a first time buyer. Just took out a 2 year fixed mortgage. I'm wondering what happens at the end of this? The rate jumps to 6%. If im to do another fixed rate with my bank is there usually a fee? Or lets say i was to change vender at the end of the fixed rate is there usually a fee? Im an absolute noob to this. I'm…
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Re-mortgage advice
Hi, I obtained a 100% shared ownership mortgage 6 years ago. I am now outside of my fixed rate. I don't have any deposit available, would it be possible for me to re-mortgage or would I need a deposit to do this? Thanks :-)
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help with remortgage
Hi all new to the site so a hello hello to all I was hoping that i could get some help with my mortgage. Currently on 4 yr deal with Woolwich at 4.69% based on house value of £250,000. Payments are 1,039 a month. 30 year term initially - we are two years through. Mortgage was for £200,000 so 20% equity. our current balance…
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Variable Mortgage in a DMP
Hi - we are in a DMP with Payplan and have been paying every month as required for over two years now with about 2 and a half years to go. Our mortgage is a standard variable rate of about 6.6% due to our bad credit history. We missed one mortgage payment about a year ago and this was added to our monthly payments. Our…
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re-mortgage advice needed
I have recently come out of an IVA (October 2013). I have been trying to get a re-mortgage but with my history this is proving harder than I was led to believe 5 years ago. Some lenders say I may qualify in 3,6,12 months but with the increase in interest rates on the horizon I feel it is essential I re-mortgage as soon as…
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capital paid off after 5yrs ?
Are there any calculators that I could work this out with please ? amount borrowed: 137,999 Term : 17 years I/R : 3.99 ( 5 yr fixed ) Want to know how much capital I will have cleared by the end of the initial 5 yr fixed rate period ? Thanks
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Transfer of ownership from Sole to Joint - Stamp Duty Implications
Hi folks, A quick question regarding transfer of ownership. I am the sole owner of our house and am remortgaging with the YBS as I write (a phenomenally painful process, but that's another story!) and they have insisted that as I am married, my new mortgage has to be joint. I am happy to do this but I have been told by the…
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Mortgage / loan for two storey extension
Hi guys, firstly I'm new to the site and apologies if this is in the wrong place. I'm after some advice regarding funding a house extension. Background is that my wife and I have have rented for a long time and we now have two young children. We are going to move to my mothers house next year and would like to add a two…
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Fix for 2 or 4 years?
Hello, My mortgage is up for renewal with Halifax March 2013, From the website you can switch deals with 3 months left to run. So I can switch in December. I'm currently paying 3.39% interest The options are 2 year fix at 2.29 or 4 year fix at 2.84 Only think is we would like to move in a few years and i'm guessing if we…
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Wrong please, mods please delete
Whoops wrong please - please delete
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Confused about Shared Ownership mortgages
Hi, need some help please! We've started looking for a new home. We hadn't planned on shared ownership, but were shown a nice home that comes in under budget for 80% share. I can see both advantages & disadvantages, but is worthy of a closer look as it's in a nicer location than we could otherwise afford. I asked the…
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Mortgage with bad credit rating?
Hi. I'm looking for some advice. My partner and I are looking to move to a bigger flat/house and are hoping to get a joint mortgage. However I have a poor credit rating at the moment including 1 default. I'm currently in the process of trying to pay off several credit cards. My partner has a good credit rating and we have…
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Mortgage possible with low income and tax credits?
I am just trying to see if I can get a residential mortgage in my current situation. My income is around 22,000 including salary and tax credits. I really need to know if the tax credits will be accepted as income for obtaining a mortgage as they make up a large part of my income. I have good overall credit score but had…
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Need help finding Mortgage!!
Hi everyone, I have been a long time lurker on the forums but I feel I need to ask for some advice. This is how things stand... House is £325 (London, so expensive!). We have 65K deposit 80 LTV% but could increase to 75% LTV at a push. I'm a first time buyer, currently renting. I earn 31K. Employed for the last 8 years…
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in principal - Approved, in Reality - Declined
I had an existing Mortgate wth Santander and sold my house. I was infomed that my new mortage application (33K less than original loan) was offered in principal and that I had 3 months to port my mortgage before the early redemption fee of 2k would be lost. I paid the mortgage off in full - found a new property and my…
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Yorkshire Building Society 95% Mortgages
Hi guys, My hubby and I are currently saving for a 10% deposit, fingers crossed for buying the middle of next year. I have heard that Yorkshire Bank are now releasing 36 new 95% mortgages. Question is what is the lending criteria for Yorkshire and has anyone dealt with Yorkshire BS in the past? We are using a whole market…
