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How does overpayment get calculated on the 10%?
On nationwide fixed 2.94% it states "Early repayment charges apply for any payments made which exceed your overpayment allowance of 10% or if you exit your mortgage early. Charges do not apply for any repayments below your 10% allowance." So does this mean if my monthly payments are £300 i can only a MAX of £330 before…
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Rate offering changed before mortgage start.
Hi all, We are completing on our property purchase next Friday and had agreed a 5 year fixed rate with nationwide at 2.99%. However i've just noticed that for our LTV their 5 year fixed rate offering has now dropped to 2.74%. Not a huge drop but all adds up over the 5 year fixed period. Is there any chance we can get the…
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Just Paid off outstanding Debts - When to Apply for Mortgage (Dip?)
I have read over a few mortgage guides, stalked this forum for the past month and also googled my question but I haven't found an answer. I've just paid off all outstanding debts I had which I kept as they were at 0% while saving elsewhere, with a plan to repay at the end of the interest free period. My partner and I have…
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New mortgage and new bank account at the same time
I currently have an offset mortgage through the Virgin One Account at the moment and this is my only bank account. They have confirmed the account will need to be closed when I buy our new property and place my mortgage else where. We have had an offer accepted on a new house and after going through a broker have been…
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Likelihood of finding a mortgage
Hi, I'm currently renting a flat whilst saving for a deposit, in around 4-5 months I'll have around £20,000 saved. I'm 22, PAYE £50,000 year, employed with the same company for the last year and a half. I'd like to move out as soon as possible as the money I'm paying for rent is paying someone else's mortgage! But I'm…
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Mortgage Transfer/Payment Break
Hi, I have only eight years left on a particular mortgage of mine that has been with the same bank since inception. I have a long and proven track record of payments and I'm now in the process of transferring it to a new bank that will offer much more favourable rates equating to £70 less each month to pay along with no…
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Mortgages after payday loans
During 2012-2014 I used payday loans on a regular basis, I have not used them since May 2014. We have a 90k deposit now and things are much better, joint earnings are 90k also. Do you think we will be able to get a mortgage?
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Guarantor Mortgages
So to cut the long from short we are looking to get a mortgage, the problem being I'm currently only working 1 day per week and my partner is self employed and his income hasn't been the best the last 2 years but will have a massive jump at the end of this financial tax year. The house is 195,000 and we have 20,000…
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Ftb questions
Hi all I know everything seems to be done on affordability now. However, some still quote on salary multiples. With that in mind with a 75% or better LTV, what would be the best multiple I can hope for? I know most are 4.5x and I was previously limited to that because I was considering help to buy. But now I'm not going…
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Would like to check if i am on right lines with going for fixed over variable
I have a LTV of 60% and after a lot of hours have come to the conclusion fixed at 10years @ 2.94% with Nationwide may be the right for me to go. Although i am really struggling with will i be paying too much as base rate does not look to be going anywhere fast but i am no expert by any means. So the million dollar question…
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Hypothetical repossession question
Hello, if i put a 50k deposit down on a 100k house, therefore borrowing 50k mortage with a lender. If i was repossessed due to some unforeseen issue would they only be interested in selling the house at 50k to make sure they recover their debt and i would loose my money which has been repaid / any deposit i put into it ?…
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Mortgage valuation / survey fees
hi, Does it work with the lender you pay valuation fee first and then you can pay the survey to be done? I do not want to end up paying for the survey if the price i have offered /which has been accepted by the seller is below the valuation of the property by the lender as i might not be able to afford the extra on the…
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Advice needed about paying off mortgage
Hi, Our mortgage has about 7.5 years to go and we are paying more than we should be (only just over £100 more so takes payment to about £830 a month). We have a 25 year endowment due to mature early 2017 and expect £30K at worst. We had intended to use this to reduce the remaining term. Problem is, my job has moved and I…
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Re-mortgaging, info/advice welcome!
Hi, I thought I'd come to this forum to get some advice from some of the knowledgeable posters on here. background I am 65 and about to retire, I've paid my mortgage off completely so own my house which is valued at around 700,000. The only income I will have coming in is through my wife's job which she will be leaving…
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Estate Agents wants to see documentation & mortgage agreement in principle...
Hi Not sure if anyone can help Estate Agents wants to see ID documentation & mortgage agreement in principle before putting an offer to the vendor. I called the EA and they said we had to come in first and sign some paperwork, I challenged them strongly on this but they say they can put my offer to the vendor but their…
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Mortgage on house with spray insulation
We have just bought a house with spray insulation. When viewing it we were impressed with it and didn't know they was any issues with it. Our survey was done last week and the surveyor pointed the insulation out to our mortgage company, the company are now saying they don't know whether to secure the mortgage :-( Has…
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Overpayment
Hi We are trying to re mortgage, currently on interest only on a variable rate. We want to switch over to a fixed re payment however we are finding this difficult because lenders are turning us down on affordability. They will however agree to a fixed rate on interest only. Our new plan is to get a fixed rate interest only…
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Mortgage with small default
Hi everyone, Bit of backstory in 2012 i was in university shared housing and bills were put in my name, after i moved out and submitted final reading and new address i didnt hear anything from the company until i got a debt collector call demanding money which i immediatly paid, This shows in my credit report as a…
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Should I leave offset for a 0.6% cheaper first direct mortgage
Hi all I am 44, wife and two kids and £115K and 15 years left on a first direct offset mortgage (currently 2.39 per cent base rate tracker; interest only but we overpay to effectively repay in the term, £800 a month). House is probably worth about £340K. First direct now do a fee free 1.79 per cent standard repayment…
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Looking to renew - who is the best?
Hi Guys, My current mortgage (2 years fixed with Principality) is coming to an end. This was my first mortgage provider...ever and I have never gone through a renewal process before. Please could you advise any tips on how to get the best deal. I currently pay £350 per month and my initial deposit was 10% of a house valued…
