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Mortgages & endowments

Archives for March 2014

Re-mortgaging with current lender
Hi All If you re-mortgage with your current lender, do you have go through the full application process again (eg complete the application, providing proof of income, have the credit check carried out)? Or is it more straightforward than it would be going to a new lender? Cheers
Usenet mortgage advice
I need some help with mortgage queries. Can anyone recommend from personal experience a good Usenet group to save me some time searching.
Mortgage additional borrowing rate high
Hi, I need some financial help as I'm a bit thick. I have a flexible mortgage with A&L at 2.99%, balance 23k. I have been overpaying this mortgage for the past 3 years and now have a credit balance on the account. I have decided to get an extension to the property and phoned A&L yesterday and they told me the additional…
Mortgage packager
Hello My husband and I are 1st time buyers purchasing our dream home. Our broker has placed our application with a packager. We have submitted everything the packager has requested during the last 2 weeks and now the application has been placed with the lender. I am just wondering if anyone else has used a packager and had…
Fixed rate mortgage - Applied interest fluctuates up & down
We've just received our annual mortgage statement and I was wondering if anyone was able to help explain why the interest applied to our fixed rate mortgage fluctuates up and down so erratically (I'd thought it would consistently decrease as the balance goes down each month). Without digging out the paperwork I'm not sure…
Have I missed something?
I was chatting with the wife today about our future, especially as we really do not have any solid future financial retirement plans and thought about the below situation and it seems a viable plan but have i missed something obvious? Our flat is currently worth £235,000 and we have about £114,000 mortgage left to pay, we…
Mortgae help to buy confusion
Would really appreciate some thoughts on the following: Am thinking of using the Help to Buy 2 scheme to purchase a property at 150,000. I have 5% deposit but have been quoted a mortgage at 4.99% with monthly repayments of £781.27 for 35 years or £832.21 for 25 years. This seems rather a lot considering I've just paid to…
Form SA302 ...
My partner needs form SA302 for a mortgage application. The broker needs to know details of earnings for the last year She's been in self employment for 14 months. It's a silly question but the form details income/tax etc for the current year but as she hasn't filed her self assessment for this year, what will the SA302…
Halifax HTB - EL incentives question
Hi Today we got an AIP with Halifax for the HTB - EL :j (Nationwide referred it) We have been told that Halifax will only allow up to 1% incentives. I know other lenders offer more. Is there anything else we can ask for that won't affect the mortgage offer? I have no idea if we can ask for white goods, lawn, carpets ect. I…
Mortgage devalued at the last minute - advice please
Hello Please could someone help and offer me some advice. My wife and I are first time buyers and we found a new build that we bought off plan. Completion date of end of June. We applied for and were accepted for a mortgage with Nationwide. I got a call today from the broker stating that Nationwide have devalued the house…
Loan, Savings & Mortgage Confusion
Hello, I have listed my situation below and hopefully this will make it easier to understand and keep it simple. Buying a Van for £8000 (Can get loan at 4.5%) Moving House in 18-24 Months (Will need mortgage) Currently own my home with a mortgage (Fix Deal ends in 3 months) Have savings of around £15000 Questions: - Do I…
New Rules - Mortgage Applications
Hi I keep seeing brief references to new legislation coming in next month with regards to mortgage applications. Can anyone tell me what these changes are?? Thanks
Mortgage concerns
Hi - This is my first post, I've found the site so informative that I thought I'd see if anyone had any thoughts on our situation. We have recently sold our house and completed the sale (so we are currently staying with Mum) in doing so we took a big hit with a redemption penalty (12K) - We had a 5 year fixed rate & the…
Is it worth keep trying for offset mortgage or no chance?
Would really like an offset mortgage to move home. The flexibility would really suit us and be more tax efficient, help with budgeting and we are disciplined enough. However, first direct have turned us down although they will loan us the amount we want on a repayment basis. We have an appointment with HSBC our current…
Is there a list of smaller specialist/BTL lenders?
Every so often reading the weekend papers I see some lesser known building society, often in the Midlands or North, that is described as being more flexible and willing to consider individual cases than the big national names especially for buy to let mortgages. Now that I finally might need to call on the services of one…
Will I get accepted for a mortgage
I am wondering if someone would be able to give me some advice. My partner and i are looking to get a mortgage in the next 6 months, however I have a personal loan (through Natwest) for £17500 which he is unaware of. Two questions ..... 1. Will having this loan mean I will get rejected on a mortgage application? I have…
Halifax further lending for reroofing
Hi all, just wondering if anyone can give me some advice on further mortgage lending for reroofing. Our situation is that we bought our first home at the end of 2011 for £125 000 with an 85% mortgage from Halifax. The valuation report advised that the asbestos cement roof covering needed replacing. Since then a slight leak…
Mortgage shortfall in 9 years. What options do i have?
I`m looking at a endowment shortfall of about 22K from the last shortfall notification letter i had. The shortfall will be required in 9 years time! In 10 years time i will be getting a gratuity of around £14K. The investment is in a unit linked stock market fund i don`t want to surrender the policy as i do believe at some…
Income tax and mortgage question
Please bear with me because my story is unusual and rather complex. My parents own their home and have a small mortgage (£15k). They want to remortgage their home to release equity for home improvement (£50k). No mortgage company will offer them a deal because they are too old. The affordability of monthly repayments is…
Overpay or save?
Hello all, I have a mortgage with a 2.44% interest rate, and an ISA that pays annual interest of 2.8% but has penalties if I withdraw early. Assuming I make no early withdrawals from my ISA, would I be correct in thinking that I am better off paying into my ISA rather than overpaying my mortgage? Thank you!

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MSE News

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Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
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Mortgages & endowments

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