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Should I wait for my endowment to mature or use it with a new mortgage?
Hi, I have some equity from an old house sale. I also have an endowment I kept running which matures in 5 years. It's £20,000 under target but that's my fault for not claiming inside the window. So, I am now wondering the best way to use it, it will mature at about £30,000. I have been chewing on a couple of options... 1.…
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Will the new mortgage questions effect house prices
As above, will the new 'harder to get' mortgages slow the rise in house prices over the next year or 2?
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7 year fixed mortgage
Hi I currently have a 7 year fixed mortgage but i am looking to move home. Is it possible to move to a house worth less than the house I currently live in? If so how would a transfer work, would I be expected to pay any penalties?
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Giving an elderly relative money to right-to-buy
The step-grandparents live in a flat Zoopla values at around 49-52k. With their 50 year tenancy I believe that gives them the full 70% discount. They have asked the question weather a relative can buy the house for them, or, 'loan' them the money to buy it. Their thinking is it will be a nice little inheritance for their…
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MMR - switching with same lender?
I am with Post Office and want to switch products with them to a new deal. I do not want to move lenders. I do not have any concerns about MMR affordability. We could afford it if the interest rates went up to 6 or 7% and we are not big spenders. Checked the affordability on various lenders websites and they will lend us…
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The electoral roll stopping us getting a mortgage!
My Partner and I have tried to get a mortgages in principle but this got rejected, upon checking our credit reports, the only thing pulling it down was that we had not been on the electoral roll for long. We have both been on the electoral roll at our respective addresses since we were 16 so 5 and 6 years. How can we…
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Help with this idea please
Hi I have tried a few of the new calculators for determining how much we could borrow but I'm not confident with the answers given this specific scenario. Simply put we want to rent a property to live in at 2500k per month. We then want to borrow 135k to buy a 160k house to use as a holiday home/investment. We will not…
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Remortgage. What's the plan?
Hi. We bought our first house almost 2 years ago and the fixed rate is nearly at its end. I wondered what steps I should take to get the best deal. I guess I would call up our current lender first to see if they can offer us something better than our follow on rate and if not contact our IFA or scout about for a better…
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First Time Buyer. Advice please
Hi, myself and my partner are currently looking to buy our first property and are a little undecided (to say the least) on which mortgage will be best for us. New Builds are out the question as unfortunately there are no developments within our desired location.After scouring various Comparison websites and entering our…
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Nationwide New Rules Any Flexibility?
Hi, our property is under offer and there is a house we have seen that we really want to purchase. However, there is a bidding race and to make our position as strong as possible we have to be able to proceed as if we're not reliant on the sale of our house. Up until today, we were able to do this, however we've just…
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£600 fee for mortgage application from fee free broker?
Hi all, Little advice here. We have a mortgage broker we are using who we like very much. The key facts sheet said no fees: paid from lender. We have been shown a couple of products and are trying to choose from those. Both of them however have £600 broker fees. Does this sound right? Just trying to get all the information…
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Unlimited Overpayments
Hi, Can anyone please advise on lenders that offer mortgage products with unlimited overpayments, with no early repayment charges? I know Santander and First Direct offer products that claim to allow "unlimited overpayments" - is this the case in the truest sense? For these I would need to go through the hassle of getting…
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Residency Rule for Refinance?
I have been living alone in a small home in California that my parents own for almost 20 years. It was basically a 'gift' from my dad, but my dad's and mom's names are on the title. My dad recently passed away. For the past year, my dad and mom have been living at an assisted living facility, due to my dad's degenerative…
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MMR - Worried?
Hi, I have a mortgage in principle to borrow £215,000 but am a little concerned this will be reduced due to the MMR and tighter rules? We've had an offer on a property accepted and need to borrow £200,000 which we could easily afford to repay, however my finances over the past few months have not been particularly stable.…
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Options available - which is the best one?
I have had my mortgage for 2yrs 1 mth and now out of my fixed term, so having a look at my options for a new deal; Had a play with the overpayment calculator but cant seem to work out which is best; Keep same term and overpay each month OR Reduce term and pay (mortgage + overpayment) so in effect I will still be paying the…
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mmr and application query
Hi all, I submitted my application on the 14th april via a broker will i need to apply again because mmr has come into affect? Also since I applied the mortgage rate has changed, will i be offered a mortgage at the new rate?
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Mmr
Does this apply to new mortgage applications e.g. First time buyers or if you re-mortgage also?
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small savings to put into mortgage or leave in savings?
We have built up a £5k saving pot to move home with, the house is on the market however Im not holding my breath that it will go anytime soon, Ive seen on here that some people are over paying there mortgage every month and my question is should I ring the mortgage company and just put it on the mortgage or keep it in the…
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Mortgage advice-credit rating
Hi, I'm looking to get a mortgage for a flat, I had posted before about other info but the basics are* Full time research student for the last 3 years 9 months-salary from the university for the first 3, unpaid for the last 9. Lived off savings. * Begin a job in June-starting salary ~£29k * Flat is 90k, I have a 10k…
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Santander refusing to take wives income into account
So we had a meeting with our independent mortgage broker who looked through the offers available and recommended that we go with santander. We completed the forms and got a mortgage in principle acceptance almost right away. 8 weeks later and we heard from the broker today that because my wife is employed directly by a…
