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Remortgage : Is this normal
My fixed rate finished last December, I spoke to my IFA and made arrangements for a new mortgage. This new mortgage went to offer in the first week of January. On our old fixed rate we had been paying £650pm. As we had been switched to the base rate our January payment was £750. The new mortgage has now completed but our…
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Open Market Shared Equity - remortgaging and Help to Buy
Right, first this relates to the LIFT (OMSE) scheme in Scotland. We have an 80% stake. 20% is with the Scottish Exex. We have looked at figures and can now afford a mortgage to cover a 95% mortgage, so we want to increase our stake, so I have set the ball rolling. Here is the question............ The Help to Buy, mortgage…
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Mortgages: Overpayments or reduction of capital?
This isn't a question for myself, more as a discussion subject as I've been in the fortunate position to have been mortgage free for a number of years now. Part of that was because I always considered it something I wanted to get rid of as soon as I possibly could so I used to make regular overpayments. ( I only ever had…
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Mortgage overpayment confusion
So, after watching last week's MSE programme, it's left hubby and I determined to look into overpaying on our mortgage. But our situation means it's not that straightforward. We have 2 mortgages with the Woolwich, as the first one was on a fab rate, so when we moved we just took out an additional one. This has left us…
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first time buyer age concern advice pls.
My situation i am 33 yrs old, wife is 48 yrs old, i earn £30000 and she earns £34000. How long a mortgage would we be likely to get that would take into account her earnings? She is a nurse with decent pension, we have £15000 saved and are looking to buy a house in the region of £180000. currently someway short of a 10%…
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Should you keep a small mortgage?
Hi. My wife & I are waiting to receive a 100k inheritance (Receive it in May) and are planning on paying off the rest of our mortgage. I've often heard people say that it's best not to pay off your mortgage entirely but it's better to keep a small mortgage. I'm not sure what the rationale is behind that though or if it…
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Bridging loans / alternatives
Currently selling our second home to a cash buyer, raising £100K. Main residence isn't up for sale yet. It has a mortgage left of £100K with First Direct, but when sold is likely to raise another £100K. I couldn't help looking, and have found the 'house of our dreams' which is currently being offered for sale at £385K.…
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What do mortgage brokers earrn?
There was a post earlier this week where the poster appeared to have taken a broker's advice and was then seeking to avoid paying their fees by going direct to the lender with their application. I also had a PM from a gentlemen considering a career as a mortgage broker who asked if he could expect to increase his income in…
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switch and fix nationwide
Were currently on a tracker with Nationwide and think is about time we fixed now. We're staying put in our house for the next 4 years at least. Switching to a fixed rate went save us any money but at least we'll know where we are for the next 4 yrs. How easy is it to fix with Nationwide? Is it a while new application or a…
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New rate - new valuation help
Hi there I am looking for a new deal without having to get a credit check due to my partner having setup a debt management agreement while we were in a fixed deal. Now I want to reduce my hefty % rate to something more reasonable. I know I will have to stay with my bank to do so, however my valuation has changed and I have…
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Mppi halifax
We took out a mortgage 14 years ago with the Halifax with that came a PPI plan. We then remortgage 8 years ago to make some home improvements with this came another PPI plan surely we don't need two PPI plans? Please help? Thanks.
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Should I remortgage?
Hi all, I saw that HSBC has come out with an excellent new 2 year 1.19% fix with £1499 fixing fee and I'm thinking of switching to it so just wanted some confirmation that I'd be doing the right thing really. Some maths involved! I'm currently on HSBC lifetime tracker of 1.49% + base (therefore 1.99% currently). 280k…
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can't get a mortgage as wife has an allowance not a wage
Can anyone help my wife is a carer for adults with learning disabilities who live in our rented house and because of this we had to sell our smaller house but we have now found a house to buy, but can't get a mortgage as she is given an allowance not a wage even though it is through our local council and I work full time…
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Advice on how to proceed - complicated remortgage
My wife had a joint mortgage with her brother on our house (originally £120,000, now down to £100,000). The house is currently valued at about £300,000, and we wish to buy his half of the house off him. To do that, we are taking out a mortgage for £130,000 (to be added to the £100,000 for a total of about £230,000). So I…
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remortgage confusion
Hi all Need to remortgage as I'm paying 300 too much vs current interest rates. Me and my partner do expect to move house at some point over the next year or two. Would you take the risk on a portable five year, bearing in mind how good value they are? Are there any companies that have a lower early repayment percentage…
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Swedish Timber Houses
Has anyone here had any experience in obtaining a mortgage on a timber framed and clad property built from Swedish timber of post war age? I have a meeting with a broker next monday to discuss my options and one of the properties id like to consider is of this style.
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Coventry BS - how long?
Hi all, I'm going stir-crazy waiting for my mortgage offer to come back. Initially i heard from Coventry through my advisor almost every day, requesting more paperwork, statements, etc. but they have now gone quiet and i'm told it is 'with the underwriter', and haven't heard a thing in 2 weeks. My application was submitted…
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'execution-only' basis, what right do you forfeit?
Hi all, Have been reading up on the differences between "advice" and "Execution" only mortgages. What i am struggling to find is what protection the FCA rules give you which you loose? "However, we recognise that some customers already know exactly what they want and they will still be able to choose not to receive advice:…
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Halifax refusal to move me to repayment
Please can some advise me I have been on interest only for years fixed for 5yrs at 6%ish paying £600ish per month, when I came out of fixed period it went to 3.99% and payments dropped a year on I rang Halifax to move it to repayment, I had to go though all my spending and a painful what felt like a interrogation to be…
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Helping daughter onto the ladder
Hi my 22 year old daughter is looking for a flat to rent. She has a decent job with the police but no real credit history and currently lives with her mum. The rents she is looking at are around £600 per month for a 2 bed flat. I've noted that 50% share in similar flats can be bought for around 50k (north west) with…
