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Getting a Mortgage while paying loan
I have about £5000 worth of loan which i left to pay at the rate of £500. I believe this might affect the amount of money i can borrow from a bank. If i up the payment to about £1000 meaning i got 5 month left to pay, will be bank be able to overlook this and not penalise me by removing a lot from how much i can borrow…
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When do early repayment charges apply
Hi there. If people can help me with my mortgage query I would be very grateful. I purchased my first house Feb 2015. At the time I was self employed and only had 1 year of accounts as I had just left university. Getting a mortgage was difficult without 2 years of accounts which most lenders wanted but eventually Lloyds…
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Interest only mortgage and pension.
I'm considering replacing my capitol repayment mortgage with an interest only mortgage and then putting the difference in payments into my pension scheme. When I take my pension in 7 years I will use the tax free lump sum to pay off my mortgage. My logic is the difference between the low mortgage interest rate and the tax…
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London First TIme Buyer Seriously needs advice
So let's start with a bit of context. Firstly, I'm a single 32 y/o business co-owner that currently rents a 1 bed next door to Peckham Rye station. My rent is approximately £1250 a month. I have shares in the business but right now I strongly suspect that they aren't really worth anything. Even if they were I'm not sure if…
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Woolwich rate switch puzzle
I have applied via online banking to switch my Woolwich mortgage onto a new rate. I am a little bit confused as to exactly when the rate change will apply. The mortgage offer letter they produced at the end of the switch process (which I saved in pdf form), has two potentially contradictory statements. The "what you will…
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waiting for mortgage and switching energy providers, renewing insurance?
Hi Basically, we still wait for proper house valuation from Santander, although we have mortgage acceptance, subject to valuation. Now our energy provide and insurance contracts come to an end and I would like to switch providers as I get better deals than the renewals. Does that affect mortgage applications? As insurance…
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Buying a second home with my partner
Hi. I'm looking for some advice on what I need to consider financially when buying a second home with my partner. I own (mortgaged) my current home but she has never owned a property. What are the financial implications?
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Halifax Halifax Halifax!
Don't know where to start! Basically I have been self employed for years but during credit crunch of 2012 work was slow and was fed up so I went traveling. Ended up being away for three years and living and working in Australia fort two of those years. I had savings already and sent a good amount of savings back from oz.…
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Building My Own House - Income
Hi all, My family and I are about to embark on the long journey of building our own home. One question I had was about the finance side of things. I'm going to be doing the vast amount of work myself, which means that I'll need to leave my current full-time job. My wife will carry on working full-time. (this isn't a…
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shared ownership
good evening we are looking around the possibilities of buying a new build shared ownership. would I need to get a shared ownership mortgage or am I able to get a 'standard' mortgage? sorry for my ignorance
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Mortgage, DMP, 2Kids and 2 Bedrooms!
Hello all, looking for some advice. Me and the missus bought the house a number of years ago when "self-cert" mortgages were all the rage!! A nice, little 2 bedroom home to start with. We couldn't really afford it but it was pretty much the cheapest house available at the time. Over the years, various things have happened,…
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Pay off Mortgage or Save
I have a £155k mortgage - £100k of that is interest only. I have 9 years left so means I will have a balance of £100k to pay at end of term. I have that £100k now but uncertain what to do. Should I pay that £100k and have just £55k mortgage to pay for 9 years? Or Should I pay the £100k, pay the £1k month still this…
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lump sum causes DD payments to be treated as overpayments
Hi - since 2013, I have a 5 year fixed rate repayment mortgage at 2.59% from N&P. My mortgage offer states that I will pay Section 4 of the offer says: Section 11 explains: I am currently paying £750 each month and I also make a lump sum payment of £10,000 each year. Up until now this worked fine, but I have just made my…
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Joint mortgage advice please
My boyfriend moved in with his foster nan about 14 years ago. She lived in a council house. After 2 years be bought the house and put the mortgage in his and his nans name. He didn't want her to think he was going buy the house and kick her out. He paid the mortgage off a few years later and its now mortgage free. The…
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Buying half of land and a property from parents without a deposit advice
Hi, I know there are a few threads that address this issue but our circumstances seem a little different. My parents have a property worth around 300k-335k that consists of a house, a decent plot of land and some outbuildings. They want to sell us the house and half the land and convert the outbuildings on the remaining…
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Product transfer with Santander..advice please?
We are coming to the end of our fixed rate 2.79 with Santander, and looking to change to either another 2 or 3 year fixed. The options we have are as follows: 1) 1.99% two year fixed, £529 pm 2) 2.29% three year fixed, £553 pm Either way, we will continue to pay the current amount of £598. Are we better off sticking with a…
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Interest Only Mortgage
Warning long story, appreciate your time reading and offering advice. I have an interest only mortgage taken out in 2006 with Alliance and Leicester which was subsequently taken over by Santander. I took it out at a quite difficult time whilst going through divorce, via an independent mortgage broker. The mortgage…
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HTB ISA Bonus Clarification - Moving Goalposts!
Hello, We have just received our mortgage offer from Halifax, and have at this point been through several iterations of financial schedules, due to the mixed messages we have been receiving re: the Help To Buy ISA bonus. Like many, we were concerned to learn that the bonus could not actually be used for the exchange…
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Remortgaging online
My current rate is about to end and I want to remortgage. My existing lender allows existing customers to remortgage online without any advice, fees, affordability assessments as longs as they don't change the amount borrowed, terms etc. I'm pretty confident to remortgage online except it says I wouldn't be covered by the…
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Midway through mortgage, now paid off some debts
Hello So I've been actively lurking on the forum anytime I've needed some financial help but I thought I would post after not being able to find an answer. So me and my wife have a 5% mortgage promise in place with Halifax, they gave us the promise and said go and find a house and make an offer which we did and then I paid…
