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Mortgages & endowments

Archives for December 2016

Remortgage Process
Hi MSE Mortgage Forum! I recently submitted a remortgage application to Clydesdale bank through a broker. I've been told that the application is currently being looked at by the underwriters (it's been about 10 days since submission) and they have asked for a valuation survey to be carried out which I have now booked in.…
Self-Employed Mortgages
Hi Guys been talking with a friend about getting a mortgage and wondered if you could help, they are not very computer literete. Person has last two years of income. Last year 20,000 down to 13,000 after expenses This year ending March 16 30,000 down to 17,000 after expenses. I understand it probably goes on the net…
Help to buy, first time buyer.
Hi, I'm currently in the early stages of a Help To Buy scheme and I'm a bit confused by it all. (Mostly terrified!) The one I'm looking at is.. House price: £113.995 Mortgage (75%) £85,497 Deposit (5%) £5,700 Equity loan (20%) £22,799 Basically because of my annual income I can only obtain a mortgage for around £72,000 so…
Drive by Valuation?
Is a drive by valuation a bad sign?? I stayed in all day yesterday waiting for the surveyor to turn up to value our house. The day before I had sparkled and buffed the place to perfection...they didn't show...when I called them this morning, I was told "don't worry they've doe a drive by valuation" This is my second…
Do banks like Halifax, Santander charge for lump-sum overpayments? How much?
Hi all, Do banks like Halifax, Santander charge for lump-sum overpayments? How much?
Mortgage Calculator
Hi, I have been using the various mortgage calculators online, and have always entered my student loan and pension (deducted from pay) as a 'monthly commitment' but am querying now whether my pension deductions should be classed as a 'monthly commitment'. As isn't this technically savings? Any advice?
How do I figure out how much a house is worth??
This might me a stupid question, but how do I know how much a house is worth the price being asked??
Been gazumped - how does this affect my mortgage fees?
I had an offer accepted on a property a couple of weeks ago for £5k under the asking price and requested it be withdrawn from the market. It was withdrawn, and I proceeded with my mortgage application. I contacted the bank yesterday to see if they'd received my documentation and found out a valuation has been booked in for…
Help to buy
My son is saving monthly in a help to buy scheme. Should he transfer in April to the lifetime ISA and incorporate what he has saved at the moment into the new lifetime ISA or keep it separate? Anyone got any advice would be greatly appreciated
swithching mortgage - product fee
Natwest is giving me various switching options, some with a product fee and some without. Can anyone explain why this is?
Mortgage AIP received but then want 35% deposit! What now?
Hi all I have sold my house subject to contract and had an offer accepted on a house buying. I have received an agreement in principle (AIP) from my bank only last Friday for more than enough to buy the house I want. I went into the bank today to progress to full application but they can only offer me 65% LTV! :-(. They…
Bank being dificult
Just curious is this common practice or has someone got the wrong end of the stick. Got a Mortgage promise with NW before Christmas. Rang today to get an appointment for a formal application. Got told I need a mortgage promise in branch before getting an appointment for the full application. WHY let me do the promise…
How many months of bank statements?
I've just switched my current account. My old account has closed. I'm planning to look to buy (first time buyer) in the spring, will have had the new account at least 3 months by then. How many months worth of bank statements do mortgage lenders typically ask for? If it's more than 3 months Ill contact the old bank to get…
Confused about LTV if remortgaging
I'm a bit confused about remortgaging. I got a mortgage in 2015 for £220k with £80k deposit - 74% LTV. Property has now gone up from £300k to £380k in value. I'm coming to the end of my fixed interest rate period. 1. How is the LTV calculated if I want to remortgage? 2. Do I need to add more money to my deposit to…
Potential Redundancy Question
Hi, My husband works for a company that has gone through several rounds of redundancy over the past few years. Thankfully we have survived so far but fear the writing is on the wall in the next few months. Our fixed rate mortgage product is due to end in May; our intention would be to stay with the same bank and go on to…
Any disadvantage of reducing the number of mortgages.
I have 3 mortgages. The 2 year deal on one of which ends soonish. When doing that I could borrow enough to clear one of the mortgages leaving me with 2. My thinking the being less mortgages I have, the less arrangement fees to pay every 2 years. Are there any disadvantages in doing so?
Mortgage rates from this site.
Complete newby first time poster here so HELLO! I have been looking at mortgages on here under the Mortgage Best Buys tool, and am interested in a TSB 2 year tracker at 1.14% and says its only available by contacting TSB direct. I have done this and have been informed their best rate is 1.19%. NOt a huge difference but not…
2 credits checks for same mortgage
Applied and approved for a mortgage with Halifax/BoS and property bought and paperwork complete in September so 1 hard credit check on my report, get the keys for the prooperty on 20th January. Noticed today that there was another hard credit check done on 12th Dec for the same reason (1st mortgage application). Don't…
Scottish HTB remortgage
I purchased a flat for £140000 through the scottish help to buy scheme where the government have a 20% equity stake. I have a mortgage with halifax for the £105000. I am coming to the end of a 2 year fix deal in about 6 months and was wondering what the best way to proceed is. The current mortgage amount stands at approx…
Key worker open market homebuy scheme (old scheme)
I am a teacher and I bought my property in 2007 through the key worker open market homebuy scheme. Since then I have married and had children although never added my spouse to the mortgage. As we plan to extend our family I am considering taking a care er break. I may not return to teaching. The paperwork for the scheme…

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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
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
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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Mortgages & endowments

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