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Switching Mortgage - Reduce term or overpay
Hi, I'm hoping one of the gurus here will be able to help me. I took out a mortgage nearly five years ago. I overpay by £65 a month. My 5 year fixed term is coming to an end on my mortgage, so its now time to switch again. I'm finding that I can reduce the term to 16 years (from 21) and be paying the same amount as I am at…
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Property Portfolio
Hi All, I want to save 10-15k per year as deposit for a buy to let. My maximum budget is 40-50k per flat . I live in london and have a mortgage on my house and be very hard for me to buy house here or even flat at 200k+ per flat . I have sat down and thought if I can spend 10-15k on a property every year and rent it then…
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Shared ownership after sale
I currently own a house worth approx 160k with a mortgage of just under 100k. I earn 32k per year, but over the years built up debt and as such owe 30k on a debt management plan with stepchange, approx 5 years left. Some of this is joint debt or my wife's but most in my name. Never missed a mortgage payment. For various…
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Mortgage Holiday Help
Hello, so we have just found out we are expecting our second child, we have had a mortgage for 12 months, i have sat down and worked out what we need to get by whilst i am on maternity and we would need to save 6k to be able to pay all the bills on lower income, realisitically and at a massive strecth we can probably save…
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Valuations: is it a conservative, low end amount?
Hi all - experience and opinions greatly appreciated here! My ex wife is remortgaging to buy me out of our house, and the free valuation from mortgage company has given a value which I think is quite low. Not ridiculously low - but low. My thinking is that a mortgage valuation will be a conservative number - the lowest end…
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NatWest - paying off 10% and they won't decrease term
Hello, hoping for some advice please. We are about to be starting our 3rd year of a NatWest mortgage. We were told we could over pay 10% a year for the first three years. A few months ago after a lot of faffing on NatWest part we paid 10% off but they refused to reduce our term and reduced our monthly payments instead. It…
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Mortgage worries - amount? variable or fixed? 2, 3 or 5 year?
I have just had an offer accepted on a new build one bedroom flat in the outer London area. - The flat is £307,500 and the parking space is £15,000 - total is £322,500 - My salary is £48,000 - My total savings are around £125,000 - I have some outgoings that add up - pension, student loan, car finance, professional…
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Conumdrum
Hi Due to not having a permanent job I'm considering moving my mortgage onto a fixed rate of 1.98% with my current lender for 5 or 7 years, however Im not sure if it is the right thing to do long term. I have 2 mortgages on my property both on lifetime trackers of 1.99% and 0.95% above base, if I go onto a fixed rate the…
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Buy to let mortgage 20k income
A friend of mine is looking for a Buy to Let Mortgage. Has 20k deposit. Income is also 20k. Property is 60k. Credit record is fine. I said I'd ask on here for him.
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New build - long time between exchange & completion
Hi all, We have today put a deposit down on our (hopefully) forever home :beer: however there are a couple of things I was curious about: We have been told that the builder requires exchange of contracts within 8 weeks of the official "release date" (in this case, mid Jan, so exchange by mid-Mar) however the build is not…
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New mortgage
Good Evening. need some help. i am currently selling a house for 400k and am going to put down 200k on a 300k house. i have fair credit rating but i am self-employed with a income of 27000. will i be able to get a mortgage i am looking at an interest only.
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Mortgage Offer - Received
Hi all, This is my first post here, so please apologies if it is in the wrong section! My partner and I have recently been offered a 75% mortgage off of NatWest and provisionally, we are due to move in late January/early February. I have recently been offered a job within the NHS, which I must stress I have wanted for a…
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Do we still have a chance?
Hey guys I have mortgage application going through with natwest. Our valuation was successful. my broker sent my pay slips and the underwriters were happy to borrow but he forgot to send out I.d. This was las document they needed before they were going to send out the offer. However I am a uk citizen from birth and my wife…
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Equity Release
Hi, I'm a bit of a dilemma. I need to release some equity about £60K. I have a property worth approximately £280k with a mortgage of £180k. Currently I am not working so I cannot remortgage. I would like to know what options I have to release this equity. As far as I can do is Q1: to sell the property. Q2: if I borrow…
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Curious to know and understand?
Hello all, I have a mortgage made up of 2 parts. (I ported the 1st part and added the 2nd part to fund a new house) The first is for £54000 @ 1% above the base rate for the life of the mortgage. (currently 1.5%) The second is for £22000 @ 5.9% fixed until August 2018. I know nothing about mortgages and ain't to good at…
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Mortgage appointment questions?
Hi all next week I have a first direct appointment for a mortgage application, the prep email just says "lifestyle questions" has anyone got a template of questions so I can prepare? Many thanks
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Transfer of Property
I have been trying to deal with the Executors of my sisters will for months. Their solicitor sent me a ID1 and a TR1 form and asked me to complete and send back. I should have been able to get my ID verified at the Land Registry Office but the staff would not give me an appointment unless I was logging other paperwork so I…
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Redeption statement and final payment
I've been overpaying my Halifax mortgage for the last several months and attempted to make a final overpayment in the middle of November. With this last overpayment the total when I viewed my mortgage online said Nil. I had a sub account 1 which showed a remaining amount of £34. As it wasn't clear how best to pay this off…
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Mortgage troubles!!
Hi, Me (25) and my partner (24) have been trying to get a mortgage AIP, but we have been struggling since the beginning. I have had some mild adverse credit a few years ago, the most recent which was a default which was of £49 which will be 2 years old in Feb 2017 (2 months away). Everything on the credit report is…
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Tax if cashing in Endowment Policy early
Hi, I have been onto my policy provider as they sent me a statement in early November which was for the year before and then finally sent me out the correct statement for this year. The policy ends in 2 years time (26 Nov) and was taken out in 93 to achieve £21,840, but at the moment the policy is showing £22,300 as a…
