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Mortgage Rate Switch Complaint
Back in May 2014 I spoke to my current mortgage lender Barclays about switching from a variable rate of 2.49% to a fixed rate of 3.35% for 5 yrs. The decision to pay a higher interest rate was made to protect myself from sudden interest rate hikes rumoured by the Bank of England. The mortgage adviser completed the…
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Pay Day Loans
Hello, I have applied for a mortgage and have had a letter from the mortgage company asking an explanation why a payday loan was taken in aug 2013 for £594. Will this decline the mortgage applicatio? S. X
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Pay off Mortgage Debt - Is it a Good Idea?
I have just made the final payment on the mortgage for our family home. We rent out the house my wife lived in before marriage. She paid £145k for it with a 15k deposit in 2007. Mortgage payments are£540pm. Rates, insurance, fees, maintainence bring the monthly total to approx £600pm. The rental income is £460 meaning…
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Finding a mortgage with poor credit rating
Hi all, I'm looking for a new mortgage with debt consolidation. The situation is that I brought a property about 4 years ago and have been doing it up, new flooring, kitchen etc. I had been funding the refrub from savings and earnings. I was made redundant around a year ago, had a 2 month break and then went self employed…
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Irrational fear?!
Hi, Might seem like a strange question but I am worry wart! Got into some financial troubles when I was younger and ended up with a couple of defaults. These have been paid off for many years and finally dropped off of my credit report last year. My credit reports now look excellent according to experian/equifax with the…
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Please help!!!
Hi there. Needed some advice re. pre-completion and new car fianance. I'll start from the beginning to add insight. Me and my OH are first time buyers. Nationwide gave us a DIP back in September so we put an offer in on a house beginning of October which was accepted. Went back to Nationwide to get the mortgae, who then…
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A fix or a variable?
posted in error
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Can it be done?
Here's the story. In April we are currently leaving our rented apartment. And moving back in with my parents. (Me & my partner) Financial side of things. We have so far 10k save up. We have 1900 on a credit card of mine I have a loan of 400 quid left with my bank. I also have another card with 400 pounds on. I always pay…
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Pay year's mortgage upfront+ overpayment
Hi, We are with Norwich and Peterborough for our 5 yr 2.98% fixed mortgage. We have decided to use our savings to make an allowed overpayment for this year. I was informed on the phone that this overpayment would reduce the capital and would not be eaten up by interest:T I could potentially make upfront payment for this…
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Can I get a residential mortgage?
Hi all, I've seen an interesting property for sale locally to me that is "in need of renovation" and could be bought at a good price. I currently own a property that is under a consent to let from my mortgage company and let out long term to a young family. I live/rent in another village. The opportunity to make money on…
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Mortgage refusal because property not in mortgagable state - will it go against us??
Hello, my first ever post so please be kind :) Hubby and I are looking to purchase a property which is something of a renovation project. We have the ability to purchase for cash thanks to a loan (returnable within 2yr) from my parents however if it is possible would like to take a small mortgage, 35k, as the full purchase…
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Overseas pension
Just returned to UK from six years abroad. I have a pension pot that can be used to reduce the outstanding balance on my UK mortgage. Paperwork needs to be signed for this to happen but NRAM have a policy of not signing forms! Any idea how to break through the nonsense?
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mortgage guarantor- advice on remortgage needed
if a guarantor mortgage is in place from the begining of the sale, then if the homeowner remortgages, is the original mortgage agreement void for the guarantor? Or still valid for the original amount, or the new amount? (I'm asking this as my father got a mortgage for an unnamed subject and acted as a guarantor so they…
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Consent to Lease - Lloyds
Evening, I have scoured the forum for information on this and have found a few useful facts but still feel a little in the dark. I took a mortgage out with Lloyds mid last year. L:V 30% on a 2-year fixed rate. Circumstances have changed and it is likely I will be moving around June. I'm going to temporarily move back with…
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Tesco mortgages - very pleased.
Thought I would share how quick and easy it was to get a Tesco remortgage, from application to offer in a week! By way of background, we want 178k (we estimated that the property worth £252k, based on house prices index but valuation was £285k! Not bad as we only bought the house 3 years ago. We have done it up but now…
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Borrowing equity to help daughter buy
Have a mortgage with the Halifax (am currently overpaying) - got another 3 1/2 years to go on a fixed rate. Are you able to borrow say, £10,000, to give to daughter to help her buy - she has saved £20,000 herself? Appreciate will have to go in and talk to Halifax but just wondered if anyone knows/done this pls. TIA
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Best mortgage option for renovation Buy to Let
Hi, I have found a property that I am considering purchasing to do up and let out. I think I can get the property for about £75k and then it would take c£15k to do up as there is a lot of work that needs doing on the property. Based on the area that its in and other sold prices very close by I think the final value once…
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Reducing mortgage payment and no term
When I set up my mortgage and also after it has started running I contacted my mortgage provider to check if the mortgage overpayments I was making were actually reducing the term and they confirmed yes that is the case.I noticed recently my statement is showing that the payments are reducing?My intention is to pay the…
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Early Repayment fee - Worth paying/calculator?
Hi, We're in a 5 year 90% mortgage, however, looking at Rightmove prices nearby and sold prices, our house value has moved dramatically in under 2 years. I'm thinking of taking advantage by remortgaging but we have an Early Repayment Fee. My head tells me it is worth paying to get out of my deal but are there any…
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Negative equity shared ownership
Here goes, it has taken a lot of courage to post on here as I am feeling rather silly about the whole situation.... In 2007 I had nowhere to live and took out a shared ownership mortgage of 25%. The apartment was valued at 140k. I put down a 5% share of my mortgage, I have plodded along with an interest only mortgage (this…
