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Mortgages & endowments

Archives for October 2016

Stamp Duty Debacle
Just looking for some advice really. We are buying a new property worth about 260,000 and paying off the mortgage on our current property. We will own the current propertyjointly with my sister and husband. We intend to put their names on the deeds once the mortgage is paid.The idea is to rent it. However, to buy my new…
Is a "product fee" due with every remortgage?
Hi, One thing I have not been able to get a clear answer on is whether the product fee (usually 999 or 995) at each remortgage whether simply 'switching' (getting a new deal with the same lender once previous deal expires to SVR) or a full remortgage moving to a different lender. This fee, unlike every other number, does…
Investment income and affordability
Hello everyone I've seen that affordability calculators do factor in dividend income, but does this need to be from income funds, where its obvious, or can it be from more opaque accumulation funds? I have accumulation funds because they do better but its difficult to really find out what the reinvested dividend was and I…
Confused - 2 or 3 year fix?
Hi, I am due for my first remortgage in January and confused on whether to go for another 2 year fix or go a bit longer with Brexit in mind. I took out a 2 year fix initially with the reasoning that if interest rates were to rise in the 2 years, they wouldn't reach the levels to justify paying the premium for a 5 year fix.…
Term Question
Morning everyone, I took out a 25yr mortgage 10 years ago and its just came to the end of its 10yr fixed rate and now I have dropped form 4.9% down to 1.2%. Happy Days!!! However I noticed that on the mortgage statement it says the initial term was in fact 27yrs and not 25. I have the original documentation saying that it…
Who should I go and talk to?
Hello, I am in need of some advice on who I should go and talk to in regards to buying the house I'm living in off my mother. Basically repayments have gone behind over the years and there is about £60000 left on the house to be payed by may 2017 however I am looking to buy the house before it is repossessed on my own…
HTB expiry
Hi all, I have a full mortgage offer from Halifax. It's a Help to Buy mortgage guarantee product, with a 5% deposit. The offer says that it expires in February 2017, however I've just read that the government's mortgage guarantee scheme ends in December 2016. I called Halifax on Friday. The adviser said they would ask…
Could I ever get a BTL in my current situation?
Age: 30 Salary: 12k gross (yes, twelve! Actually slightly less :( ) Other income: ~12k gross from room rental (I own a four-bed house and let three of the rooms) Cash savings: ~35k Equity in current house: ~135k Outstanding mortgage on current house: 35k (repayments of £200/month) To be blunt, I have almost no career…
Buying while in rented property.(Mortgage affordability)
Hi All, Hope this isnt a silly question....Please could anyone tell me if I would need to include the rent I pay in a "mortgage affordability calculator" if there is an overlap of "only" a few months between tenancy agreement ending and moving into the new property? I hoping to be able to purchase a property and allow…
Overpayments query - reducing mortgage term
Hi all, I have a Halifax mortgage (35 years,:undecided) but my salary has increased by a decent amount since taking this out. At the time I was just happy to be approved! I am therefore now considering making monthly overpayments, but I am unsure about the following which appears on the overpayment calculator page of their…
Mortgage transfer
Hi I know I should talk to my broker about this but I want to be prepared and also we haven't broken up yet... Long story short I think my relationship may be at an end however we are in the middle of buying a house together. I currently have a mortgage on my flat (and am selling the flat) and am putting down 80k deposit…
Remortgaging when there is a second legal charge?
Hi all, if anyone has experience of this your input would be much appreciated! My ex husband has been known to, well, lie :rotfl: He has told me that he is remortgaging in order to pay off the second charge (in my favour, post divorce) and that he should know when in a few weeks - it is with the bank. I assume that the…
Nationwide Valuation to offer?
Hi everyone! New to the forum and just needed some information. Me and my partner are FTB and have reserved a new build on a quite desireable development. We have applied through a broker with nationwide using the 20% HTB equity loan. We got a text on Monday (24/10) saying our application had been received by nationwide.…
Mortgage advice needed for a worrying first time buyer
Hi everyone This is my first thread so bear with me! Myself and my girlfriend have just found our first house we love. We have been dealing with an independent financial advisor who found us a great mortgage offer with Virgin Money. Anyway, before progressing any further I signed up to Experian - and my concerns grew from…
Mortgage advice needed am working but also get benefits
Ok so I'm looking to get a mortgage I work and receive alot in benefits due to all 3 children being in reciept of disability benefits as well as widow payments. My ex put money aside at his mother's in cash for his daughter and a car untill he died and now the parents want to give it to me which is around 24000 towards a…
Planning a mortgage in 2017
Hi there! Me and the missus are planning on getting a mortage for a house or a part-own/part-rent flat in London. I would like to start by asking some technical (and stupid?) questions: 1. Would 2017 be a good year to get a mortgage with all the "uncertainties" of Brexit, etc.? 2. I plan to use my credit card (with a…
Accord mortgage transfer rate
Had an accord mortgage for the last 2 years. After the initial pain in the bum application everything has run smoothly. Can not fault them as had no dealing with them. Mortgage paid on time every month. Initial period is coming to end and apparently I can transfer to new rate without the need to remortgage. So no legal,…
Mis-sold mortgage advice
Hi I recently enquired with my mortgage provider about borrowing extra and although we didn't go ahead with moving I was informed that I could take a cheaper fixed rate on 1 part of my mortgage (I have 4 parts to it) this sounded great as the advisor told us that we could halve the payment from £175 - £84 on this part of…
Mortgage repayment confused
I'm on a fixed rate mortgage. As expected, my mortgage statement shows only one interest rate has been applied in the last 12 months. The same statement also shows that the calculated interest charges that I pay each month have been fluctuating with a fair amount of volatility. Have I misunderstood the meaning of fixed…
Confused about fees on remortgaging and early payment
Hiya I hope to finally buy my first home soon. I will need to borrow about 150,000. I would be able to pay back up to 2,000 most months and at least 1,000 every month. Everybody I have spoken to tells me to get a 25 year deal 'like a normal person' which would require about 800 per month repayment. My question is whether…

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