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Mortgage Decisions Logic
I was recently lucky enough to receive a substantial inheritance from my grandmother which I used to make a lump sum payment against our Halifax mortgage, we're on a standard deal so no payments incurred for overpayment. I then contacted the bank to arrange to reduce the remaining term of the mortgage and keep my payments…
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Mortgage - Single company director (figures need explaining!)
Hi, We recently put in an offer on a house which was accepted. At this point it didn't occur to me that getting a mortgage would be a problem. We have over 60% in cash, an existing unmortgaged house that more than cover the difference and what I know I earn more would easily secure a mortgage. But, my personal and company…
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Valuation report taking forever
Hello all, I have been waiting an age for my valuation report from Esurv for Santander. The surveyor/valuer cancelled twice and then made it to the house on the 2nd August 2014. I have spoke to my broker several times who has now said that Santander said it will be with santander either today or tomorrow, does that sound…
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Lost 25K in 2yrs due to valuers - can I do anything about it?
We bought our house 2yrs ago for £215K (the estate agents had it up for offers over £225K but we knew the owners and they wanted a quick move). Santander valued the house at £215K and we got a 75% LTV mortgage (I still have the valuation paperwork). We've spent about £10K on the house upgrading the single glazed areas to…
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Overpayment when switching deals
Our HSBC mortgage deal comes to the end in a couple of weeks time. We will be arranging to switch to a new 2 year fixed this week. Both the deal we ha ve now and the one we are switching to only allow overpayments of 20% of our monthly payment. My question is will there be an opportunity when switching to make a lump sum…
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Proof of Address for mortgage
Hello All, We are about to make an offer on our first home and will shortly be dealing with the whole mortgage application process. I have a slight inconsistency with my previous address, and would like some advice on what to do. I've been living in my current flat since November 2012, prior to that I lived at home with my…
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Remortgage questions please
Hello everyone, I'm looking for help please. I have mortgage with Halifax (currently £78,400 in total)which is made up of the following: Sub acct1- variable mortgage tracks at 0.54% above Bank of England Base Rate until the term of the mortgage (15 years 10 months) Interest rate today 1.04% current monthly payment £161.88…
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Overpaying by more than 10% on fixed mortgage
We have a fixed mortgage and are only allowed to overpay by 10% of the value of the mortgage per year. This year we have been paying a lot of overpayments and I could see the possibility of us being in the position to overpay by more than the 10%. I believe that we are charged a proportion of the fee. Is it still likely to…
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Nationwide Mortgage Q
Evening all, Quick Q!! I currently have a mortgage with Nationwide, 121k left on the current mortgage. My house is worth 170k est. After running through the process with NW we have been pre-approved for a mortgage of 185k. The question is why are NW quoting 185k? Surely the mortgage quote should only add the additional…
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Help to Buy and Credit card debt
Hi, I was wondering if anyone can give my partner and I any advice on mortgages and the help to buy scheme. we have found a property we like at a market value of £149500. we want to purchase with a 20% government loan and therefore we need to raise 119600 inclusive of our 5% deposit. My partner has no credit card debt but…
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Renting to buy with partner - complex situation
Hello all, This is yet another case of wanting to buy together with my partner when we both already have mortgages on our current properties. I had a quick look through the forum but found nothing to fit our case, even though I saw some similar ones. Hopefully somebody can comment on how much we could realistically be able…
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A couple of questions .. please help if you can.
I'm not named on my partner's mortgage - we want to add me on. Is this possible and how would we go about it? Our 6.29% rate ends in October and should go down to 3. something %. If we find something cheaper can we transfer or is that where we would have to remortgage? Details in case needed: £74,000 mortgage at 6.29%, all…
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Missold Endowment ?
In the summer of 1997 i purchased my home. The Mortgage was arranged by the Estate Agent who also arranged the Endowment policy and Endowment payment insurance with Axa. At the time i had no credit history . Due to not being on Electoral role list i could not get a mortgage but my wages were paid into TSB. Dixons estate…
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NRAM worry
Hi all, new to the forum and was recommended by a mortgage advisor to post on here for some advice. We currently have a mortgage with NRAM; Mortgage balance £70,919 Un secured loan balance £12k Due to high negative equity and the need for a bigger property we bought another house and rented out our flat. We have…
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Advice please
Hi We have had a mortgage with RBS since 1991. Never missed a payment except once when we changed banks (Paid immediately over the phone). We are coming to the end of a 3 yr DMP with PayPlan (who have been fantastic). My question is; Is it worth looking to get a better deal on our mortgage given our poor credit history, or…
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Mortgage advice for a 52 year old.
I am 52 and my wife is 47. We currently have a First direct offset mortgage and owe £110,000. I earn £43,000 and my wife earns £25,000 (both including some overtime). Both jobs are secure. I have a lump sum of £70,000 and my wife £12,000 when we reach 60. We also have additional voluntary contributions which we get at 60…
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Remortgaging
Hello, I'm remortgaging for the first time.my 5 year fix with co-op ends on sep 30. Just had a letter through post saying I should call them for renewal etc. my question is how long does it take to remortgage if i go elsewhere? House value about 120k. Got 68k remaining. Looking for another five year fix probably with a…
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Cheap Monthly Mortgage Payments... Factors?
What are the causes/factors of having a low monthly mortgage repayment? My friends dad bought a house in south east london for £150,000 approx and the monthly mortgage is only £400 Now I do not know much about mortgages. But what factors are taken into consideration for a mortgage repayment to be so low? Thanks!
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Me again! Part X experiences?
Hi ladies and gents, Well, we decided to go and have a look at some new builds today. It is a new development in South Wales by Wimpey Taylor. We don't have a mortgage on our property (we pay it to my mum every month as she remortgaged her house for us to buy this one outright). We live next door to a pub and I understand…
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Hi
hi there. I was on a few weeks back asking for advice on buying my council house. just to say for those that were kind enough to show an interest, we decided to go with the loan from the council as the 4.06 percent was for the entire length of the loan. mainly due to the fact I will know what I shall pay each month, every…
