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Mortgages & endowments

Archives for September 2017

Remortgaging - Help to buy redemption
Hi there, I’m coming to the end of current fixed rate period and I’m looking to remortgage. My earnings have changed dramatically over the past two years and I’d like to buy my way of out the Help to Buy Equity Loan. I know I have to pay for an independent valuation and forward this to Target to get a statement, however,…
Mortgage preparation question...?
We are going to apply for our mortgage in feb time but I am in the process of getting everything ready, We both earn in the region £3-4k each per month into separate accounts he pays the rent, the car, the loan, his phone bill the sky and our credit card I pay the utility bills and the rest will it be better for all of our…
Remortgage with open Building Warrant
Hi All, We got badly ripped off by a builder who was building an extension for us a couple of years ago and we're now (finally) at the point where pretty much everything has been sorted, but building control are refusing to sign off the building warrant due to the width of one internal door. Needless to say after…
Mortgage on 1930's timber framed bungalow
Hi all. If anyone has had experience of getting a mortgage on a property as described above can you please share? We found a broker who has put in our application with Santander as they said they would consider such a property subject to valuation. The valuation took place yesterday and so we are having an agonising wait…
Porting a mortgage when LTV is going to rise
If we were to get a five or two-year fix now, which was portable, but then want to move within the deal, and the move involved borrowing a lot more, so that we went from sub-60% LTV to something like 75-80% - what would happen with the rate? Would we just go on to the the higher LTV rate for that same mortgage?
Charge against current property as temporary part payment for new one?
Currently own a house in England, just sold for £315k with £155k mortgage (£160k equity). No other debts. Completion of sale is dragging on - now at 14 weeks and no exchange - chain is robust but pen-pushers are taking their time. Have bought a house in Scotland for £150k but due to delays with sale I am now up against the…
Remortgaging and releasing equity
Just a quick question re. the mechanics of remortgaging: if we are switching lender and we want to take £15k out of our equity, how does that actually work? How do we actually get hold of the £15k? Do we just tell our new lender that our current mortgage is 50% of the property's value but we would like to borrow 55% from…
SVRs - do they always rise with interest rates?
Our 2 year fix is coming to an end shortly and we've been offered another 2 years at 1.54%. Our lenders current SVR is 3.99%. I can't find a link for historical SVR's on their website so wasn't able to plot this myself. My question is wheter SVR's always rise with interest rates (I appreciate they don't always pass on…
Contact with employer
Just wanting some advise on when a lender when contact an employer?
Remortgaging help
Hi My current fixed term deal is coming to an end on 31st Jan 18 with Halifax rate 3.24%. I have £140000 outstanding over 14 years property value is around £360000 so below the 60% LTV threshold. Does anyone have any advice on when best to agree my next fixed term deal? I obviously don't want to get caught out on any rate…
Equity release for timber frame house
My Dad has lived in his house for 44 years. It was originally a timber frame construction but has been extended and only one third of the house is timber framed. His mortgage ends next February, as he is 73 at which point the remainder owing must be paid. The original lender has handed his account to Ascenden to manage,…
10 Yr Fixed Rate Ends April - Stepchange Debt
Our 10 year fixed rate (5.88%) ends in April so I'm guessing the monthly payments will fall UNLESS the talk of interest rates rising happens soon. Balance £56,401 Current rate 5.88% (Nationwide) Monthly payments £527 House purchased £114,500 (2006) House value £132,000 (Zoopla website) The problem is (apart from starting a…
Indefinite Leave to Remain
The recent thread on 'proof of right to reside in the UK' made me think of this, as I will soon be starting the process to move house. I have Indefinite Leave to Remain and my visa is in an expired passport. Does this still count as proof for mortgage purposes, or do I now need to have a Biometric Resident Permit (as they…
Mortgage
I am thinking of moving to new provider below is my loan at present can anyone advise who and what rate would be best and if there would be any cost due to do this Mortgage balance outstanding 33K Borrowed £54k variable rate 3.64% Remaining 16 years It is a repayment and interest is charge yearly I pay £311 a month
New sale
Hi, a little advice needed, we want to buy a new property and have to sell ours to fund it, we are worried that ours might not sell quick enough to purchase the new one, we don't want to lose it as it's perfect, we have no mortgage and own another 4 houses which are rentals, we own all out right and have no mortgages,…
House and breakup
Hi guys, Strange situation. Me and my partner have just broken up and our 2 year mortgage deal ends in a months time. We're gonna have to sell the house as neither of us can afford it on our own. Obviously we're not gonna be able to sell it within a month. So what do we do when our mortgage term comes to an end? Do we have…
Bit of an unusual situation
Hi all A few years ago, I purchased a property. I lived in it for a bit, but then let it out as I had to relocate to another city for work. I now want to buy a second home and have recently had an offer accepted on a house I really like. My query: as the above will be a purchase for a second home, will I be unable to get a…
Buy to Let mortgage
Hi I own a BTL which is currently circa 60% LTV on an interest only basis. I'm looking at trying to raise some capital from it and bumping up the LTV a bit more. My issue was that I think my rental income calculation is running on the limit for what I want to do. At the minute I'm £298pm on 1.69% with rental income of…
Part Interest Only/Part Repayment
Hi, Looking for some info from the forum. I have a mortgage with Halifax on the SVR, I have about £45K on repayment, and £30k interest only. I've made an appointment to see about changing to full repayment, I have no repayment vehicle in place for the I/O part and about 8 years left to run on it. I believe I will have to…
Calculating mortgage repayments
I'm lucky enough to have a tiddler of a mortgage - but as my latest 5 year fixed rate deal comes to an end, I'm still struggling to work out what my repayments will be each month for any new deal. Does anyone have a quick and relatively easy way to calculate what my monthly payments will be, because however hard I try, the…

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MSE News

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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
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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
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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
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Mortgages & endowments

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