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Mortgages & endowments

Archives for May 2016

Remortgage - Stumped by the stupid credit file rules
Hi All, I have just been going through the process of remortgaging to a new provider. Firstly to get a better deal and secondly or borrow a bit more. I was remortgaging for 160k and my LTV is only 57 %. My credit file is pretty good. No adverse credit history apart from 1 late payment 4 years ago. My wife's to be honest we…
Remortgage with Advice or No Advice - Current fix coming to an end
Hello - current deal is approaching its end and it looks as if I'm going to have to remain with the same provider. 1) On reading the website it says I can apply online for deals 'without advice' or telephone for deals 'with advice'. If I go ahead and find out what deals are available without advice via online application…
90% LTV mortgage on new flat declined as 'too many flats in development'
We have finally (after months of looking) had an offer on a property accepted at 365k. It's a new 2 bed flat, on the second floor, in Surrey. We have a 10% deposit and, although we were aware that 90% LTV mortgages on new build flats are very rare, we managed to get an AIP with Skipton. We were advised that we are their…
My remortgage experience - Do lenders prioritise certain applicants?
Hello all I have just successfully remortgaged with a high street lender. The experience more stressful and drawn out than I expected. I just wanted to share my experience and see if there are any others out there that have been treated poorly too, or was I just unlucky? Or is this actually what brokers have to put up…
Credit cards: "Monthly payment"?
Another question about mortgage applications and credit cards. Again, I repay my credit card debt in full each month. The mortgage application form asks for my "Monthly payment" (along with my "Outstanding balance"). Since it's different every month, I'm not sure what answer they expect for "the" monthly payment: An…
early repayment advice
Hi, Im abit confused and hoping someone can help! Rough figures are below. 170k mortgage, 6 months in to a 30 year mortgage. 3.5% 2 year fix £760 a month Overpayment just made of 10% (allowance with no penalty) so have 150k mortgage £695 a month. If i make another overpayment in year 1 hit with a 3% fee of amount overpaid,…
Credit cards: Do you intend to repay on completion?
Question on mortgage application, asking about a credit card account: "Do you intend to repay on completion?" (explanatory text: "Select yes if you intend to pay off the balance on this account on completion of this mortgage, otherwise select No. For childcare or second home please select No.") Can somebody explain what…
Mortgage Fee - Deducted on completion
We have a mortgage offer and are due to complete in a week or so. ] Our mortgage product has a fee and we have not added it to the mortgage. Our paper work says the fee will be deducted from the loan on completion. I have taken this to mean they will transfer the loan amount - the fee and not the full loan amount. Is that…
Commercial mortgage
Hi guys i have always been witj barclays for commercial mortgages, is going to natwest for a new property a good move? Thanks
Please advise, desperately want a mortgage but want a second child!
hi all desperately hoping someone can shine a light on my situation and give me some advice..... me and partner been together for 10 years now, and have a 2.5 year old son. we started saving for a house deposit a few years ago but began renting when i fell pregnant as i was made redundant and becme a SAHM for a few years.…
Safe!!!!!
We're hoping to complete in the next 4 weeks (subject to valuation), but something that has cropped up is that there is a safe in one of the rooms. The vendor is saying there is no way of moving this (without taking walls out). We don't want the safe and also feel it will be in the way in the future. So to move forwards my…
Homebuyers Survey - Lenders or independent?
Hello, I've submitted my mortgage application with my lender (Nationwide). At this time I've opted not to go with Nationwide's survey option and I am seeking my own surveyor, albeit it will cost me £150 more. Is/was this the right thing to do? Financial considerations aside, is getting your own survey done better? Or is…
Interest Only Mortgage ...time running out!!
Hi I have a 60 grand mortgage on a property worth approx 100 grand.I have a feeling that the term I took it out for is due to expire in the next 5 or 6 years.....what are they likely to do please.Extend it....or ....insist I sell and pay off the mortgage?? I'm heading for 60 years of age.:eek:
Interest Only Mortgage Advice
Hi, we have been on an interest only mortgage for 10 years with 15yrs left to run. We owe 210,000 and the house is worth around 270,000. Currently we are on a dmp and working hard to pay off our debt. We are trying to decide the best way to move forward. These are the options we've come up with so far. 1. Sell the house…
NRAM Probems
hello I am a bit confused as to my options and was hoping someone could clear the wood from the trees. I have a mortgage with NRAM ( its the together one) and the house is worth about 100k - mtg 94k but unsecured 24k. I am on about 4.7% and have been for ever my contracted payment is 554 but I have been paying 600 for a…
10% yearly limit to early payoff, but 10% of what?
I’m aware I need to check the actual terms but I’d need to dig these out and just wanted a general idea of the answer to this. I have a fixed mortgage that allows me to repay 10% of the balance per year; any more than that and it’s a penalty. Does this clause usually mean that you can repay 10% including whatever you’d…
If we were to split?
Some advice would be much appreciated on this - My partner and I are both named on the mortgage, and we also have a deed of trust stipulating who would come away with what if we were to split. This entails my partner being entitled to 5% of the sale price only when we come to sell. We are coming up to the end of our…
RBS mortgage?
Hi, Looking to move house shortly and I did a mortgage in principle on RBSs website I made sure all the info I put in was correct. How close to that figure is it likely to be when I apply for a mortgage? Any one had experience of applying for a RBS mortgage in the last year, has anyone managed to get one with RBS?
Perfect credit and can't get a reasonable mortgage rate.
I'm 35 years old and I own my own home worth £275k outright. I have an immaculate credit history with a rating of 999 out of 999. I currently have zero debt aside from an overdraft facility which I don't use as I have about 5k in the bank. I earn over £43k per year and have been in full time employment with two companies…
Cerberus -Do they need a Banking Licence to operate a bank account?
This may seem like a daft question but it is one that I am being given the run around by the FCA, FOS, BBA. My question is simple. I understand fully that an entity without a banking licence is able to purchase terms loans (mortgages) from banks. BUT if the term loan has expired and now sits as an un authorised overdraft…

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