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Mortgages & endowments

Archives for July 2016

Does lender care about historic spending habits?
We currently are in the process of selling our house and buying a new one. We are also in a significant amount of debt. The equity in our existing house is enough to wipe the debts out completely. The plan is to use the profit from the sale of the existing house to pay off the unsecured debt. We are porting our mortgage,…
Mortgage advice keenly sought!
Hi, I'm looking for a little advice on our current mortgate situation. We took out a mortgage with Nationwide two years borrowing just over £120,500 after putting down a 10% deposit. Our current deal, a 2 year fix at 3.99%, expires this week and we have an appointment with Nationwide arranged to discuss a new fix as…
FTB Private Sale
Myself and partner are first time buyers. We have been looking for a place for almost a year we have put in a offer for a house and this has been accepted. This is a private sale (someone through a friend) the home report was done last week by the seller. During our morgage application appointment we were advised the home…
Downvaluations
Has anyone noticed down valuations recently? Are they justified or is it over-caution?
Getting A Broker
Hello, I am looking for a good broker within Hampshire.The only brokers i know are the ones that are in the EA's office and i'm not sure if that is the right place to get a broker. Can anyone recommend how to get a good broker? obviously, if you have experience with any within Hampshire and their fees, that would be…
Morgage Agency Service Number Six Ltd
Hello, Bit of a strange one and any advice appreciated. My sister-in-law and her hubby have not been great financially. After being in trouble with arrears they took out a mortgage through the Money Agency Service(MAS) /GMAC. In 2003 they changed over to JP Morgan. They came round to see me last week to show me a letter…
Credit card balance and mortgage completion
I have a completion date of September 5th for a new property. I buy almost everything monthly on a cashback credit card, and pay it off in full by direct debit monthly. I'm probably being paranoid, but my last statement was just under £3k, which will come out my bank in 2 weeks or so (there are funds to cover this and it…
Questions regarding new mortgage application
Hi there! My name is Joe and I've been a Peeping Tom on this fourm for over 2 months. I thought I may as well register.:rotfl: I need some help from the experts. We have a deposit of £35,000. We are looking to borrow around £150,000. Me and my partner income combined is £45,970. We are about to submit our mortgage…
Is now the time to buy? (& other questions)
Hi all, I've been lurking on these forums for quite sometime now and I have a couple of questions I'd like to ask- I fully appreciate that some of the questions are quite subjective. After saving for around 4 years I have been able to save a substantial deposit for my first home and with the price range that I have set…
Santander Mortgages (FTB)
I am hoping someone can offer some advise With Santander Mortgages for FTB after the valuation has taken place do they send the valuation report to EA/Sols separately, are do they wait for the offer of mortgage and send all together,? If the valuation report is sent separately how long does this normally take? Have looked…
New build DIP
Hi We went to view a new build that we want to buy. We had already obtained an AIP from Halifax for a 90% LTV however we had to use the builders recommended mortgage broker to see if we were suitable buyers. He took all our details and phoned back to confirm we passed the credit scoring for 90% LTV and should we want to…
Buying out partner from Mortgage that includes HTB Equity Loan
Hi All, New here so please forgive me if I don't follow any etiquette rules. In a situation that I seem to be able to find little to no information about what is fair. We are Tennant in common with 50:50 share of he property. I want to buy out my ex from her share of the mortgage, typically I understand you would calculate…
Freehold/ Leasehold Question
Hi, I’m looking at getting a mortgage on a freehold flat, however I would become the buildings manager and own the land. The upstairs flat would apparently pay me ground rent and pay towards the home insurance. The upstairs flat is leasehold and has 78 years left. Would you be able to explain what that would mean for me?…
Equity Release Occupant Waiver
I live in Birmingham and three years ago my mother took out an equity release mortgage and I was required by the solicitor to sign an occupancy waiver. However, I did not sign it despite the fact that the solicitors sent me several requests to do so. Regardless of this the mortgage went through and my mother received her…
Taking over parents mortgage
I'm 32 living at home with my parents. My father has been out of work for some time and my parents are having difficulty paying their mortgage. I am thinking that maybe I could take it on. The house is worth £150,000. There is £60,000 left on the mortgage. I work full time, have a average paying job and will continue to…
Help to Buy 5% Mortgage Guarantee
Hi all, Having only just found out about the Govenment's Mortgage Guarantee scheme (5% deposit with no shared ownership), I'm all for it. Unfortunately, I noticed on helptobuy.gov.uk that apparently the scheme is due to finish at the end of the year. I won't quite be able to save up the 5% deposit required in that time -…
New Mortgage application after already receving offer
Hi, I'm in the process of buying a house, all going well so far, and have a mortgage offer in place (received yesterday after the valuation last week) with YBS for their 5 year fix, 2.69% at 75% LTV. I'm still waiting for the homebuyers report to come back, still have to kick off searches with my solicitor, and so far have…
Right to Buy Mortgage
Just looking for some advice. I have applied for right to buy on my house and the valuation came in higher than expected at 290k, I'm entitled to the full reduction so the purchase price would be £212k. I earn 36k a year and I have an extra 10k I can put down, I know it's stretching it but is there any possible way that I…
1 late cc payment-mortgage about to be assessed
Hi there, I'm hoping someone can shed some light of an issue that has just cropped up and is worrying us no end. Myself and my wife have are mortgage application about to be assessed by Nationwide any day now. Just the other day we both out of interest checked our credit reports again. Unfortunately, hers is now showing a…
BTL Remortgage
Hi people, Little forward planning, just looking for some clarification Run my own ltd company, in the past have taken dividends etc to earn just below the higher tax band threshold. With new 7.5% tax on dividends and no urgent need for the additional money, am looking to remain on a basic wage and earn around 10k for the…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
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Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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